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SHAH ALAM - The Singaporean police have arrested a 49-year-old woman on Aug 6 over her involvement in an ongoing investigation into the Fun Coffee investment platform.
In a statement on Aug 8, police said the suspect had actively promoted the Fun Coffee scheme and recruited investors to join.
Participants were required to download an app and transfer Tether (USDT), a cryptocurrency pegged to the US dollar, into wallet addresses provided through the application.
"The plans promise unrealistically high returns and offer additional commissions for recruiting others to join the scheme.
"Participants of the investment scheme in Singapore were subsequently unable to withdraw their funds through the Fun Coffee application," police said.
The woman was arrested under the Multi-Level Marketing and Pyramid Selling (Prohibition) Act in the country. If convicted, she faces a fine of up to $200,000, imprisonment for up to five years, or both.
Fun Coffee describes itself on its website as a "lifestyle brand combining coffee, wellness and digital innovation into a community experience", pairing café outlets with an app that rewards users with digital tokens for exercise and social activity.
The firm says it was founded in 2019 by a group of international investors and executives. It has headquartered itself in Phu Quoc, Vietnam.
It claims to have backed more than fifty projects and to hold assets exceeding US$1 billion (S$1.28 billion), with a workforce of more than five thousand — figures that have not been independently verified.
The entity entered the Singapore market in 2025. Local media visit to its registered address at 202 Jalan Besar on Aug 7 found a café fitted with a coffee-making robot and a vending machine at the entrance, with handwritten instructions directing customers to scan a QR code to pay.
According to newer reporting, the Fun Coffee app went offline on Jul 20, after which more than two hundred and twenty complaints were lodged regionally.
Victims across Hong Kong and Macau have reported combined losses of around HK$94 million (S$15.3 million) — a lower figure than initially reported. Over the past week, police in Hong Kong and Macau arrested eight people linked to the scheme.
In Singapore, one victim, a 48-year-old permanent resident who spoke to Shin Min Daily News, said she lost about $400,000.
She said she was introduced to Fun Coffee by a friend in June 2025 after being shown videos of the company's events and began investing after attending a company "fun run" in September 2025, where she was told she could earn $100 for bringing 10 friends along, with each attendee also receiving $50. She had reinvested early returns before losing access to her funds.
Police have advised the public against making further payments or transfers to the scheme, including requests made by individuals claiming to represent the business or via the Fun Coffee app.
Members of the public were also reminded to treat payment requests made through personal mobile numbers, private PayNow QR codes or overseas bank accounts as immediate red flags.