The Singapore Police Force (SPF) issued a warning on Thursday, August 27, 2026, about scams targeting victims of the Fun Coffee investment scheme. Scammers claiming to represent Fun Coffee or affiliated third-party service providers have been contacting victims, offering to help recover lost funds. Victims are instructed to make payments via bank transfers for supposed deposits, tax payments, or fees to facilitate fund recovery.

According to the police, victims only realized they had been scammed when the promised funds were not returned despite their payments. Earlier this month, authorities described the Fun Coffee platform as resembling a pyramid-selling scheme.

Participants were required to download the Fun Coffee app and transfer Tether (USDT), a cryptocurrency pegged to the US dollar, into digital wallets provided through the app. Subsequently, users in Singapore were unable to withdraw their funds through the application.

The South China Morning Post reported that victims may have lost close to HK$100 million (US$12.7 million) through the scheme.

The police advised the public to exercise caution when approached by individuals or online services offering to recover lost funds. They also recommended installing the ScamShield app, enabling two-factor authentication on Apple ID and cryptocurrency accounts, and setting transaction limits where possible.

Sources