Singapore Arrests Woman Over Alleged Fun Coffee Crypto Investment Scheme

Singapore police have arrested a 49-year-old woman in connection with an investigation into the Fun Coffee investment platform, which authorities suspect of operating as a pyramid-selling scheme involving cryptocurrency transfers and unrealistic investment returns.

The Singapore Police Force (SPF) said the woman was arrested on Thursday following investigations into the platform, which is reportedly based in Vietnam. Preliminary findings indicated that she actively promoted the scheme and recruited individuals to participate.

According to police, users were instructed to download the Fun Coffee application and transfer Tether (USDT), a cryptocurrency pegged to the U.S. dollar, into digital wallet addresses provided through the app. Participants could then subscribe to various investment plans that promised unusually high returns while offering additional commissions for recruiting new members.

Authorities said investors in Singapore later became unable to withdraw their funds through the application.

Fun Coffee has also attracted scrutiny in Hong Kong and Macau, where police recently arrested eight individuals after receiving more than 220 complaints linked to the platform. Reports indicated that victims may have lost close to HK$100 million (approximately US$12.7 million) after the application reportedly went offline on July 20.

Despite presenting itself as a lifestyle brand combining coffee, wellness and digital innovation, Fun Coffee promoted a business model that allegedly rewarded user participation and network growth through its digital platform. The company also operated a physical cafe featuring a coffee-making robot at Jalan Besar, Singapore.

The arrested woman is being investigated for potential offences under Singapore’s Multi-Level Marketing and Pyramid Selling (Prohibition) Act. If convicted, she could face up to five years’ imprisonment, a fine of up to S$200,000, or both.

The SPF has warned the public not to make any further payments or cryptocurrency transfers to Fun Coffee, including requests made through individuals claiming to represent the platform or through the Fun Coffee application.