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HK warns Fun Coffee crypto scam may have more than 1,000 victims
Police said reported losses linked to the Fun Coffee syndicate have risen to HK$104 million, with 225 complaints since last month.
A Hong Kong lawmaker warned that a crypto scam tied to a Vietnam-based coffee investment venture, operating under the name Fun Coffee, could involve more than 1,000 victims, as police and complainants continue to tally losses.
South China Morning Post reported that the police figure for losses associated with the syndicate has climbed to HK$104 million, alongside 225 complaints received since last month.
The lawmaker, Johnny Ng Kit-chong, said he had received around 50 in-person appeals since last week, representing hundreds of alleged victims, and added that it would not be surprising if the overall victim count surpasses 1,000.
According to SCMP Economy, one investor said she was introduced to the scheme to record short promotional videos, which were advertised as paying HK$7,000 per clip, but she reported that the fee was split among the filming and editing crew, leaving her only HK$700 to HK$1,000 for each shoot.
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