Hong Kong police have arrested six people on suspicion of conspiracy to defraud in connection with the Fun Coffee cryptocurrency investment scam, which has caused total losses of around HK$94 million.

The five women and one man, aged between 51 and 64, were apprehended during a joint operation with Macau police conducted from August 1 to 3. 

Those arrested in Hong Kong include company directors, shareholders, and key members responsible for promoting the project and recruiting investors. 

Cross-border syndicate targeted in raids

Macau police have also arrested two women on suspicion of aggravated fraud in nine related cases involving 3.6 million Macanese patacas. 

As of August 3, Hong Kong authorities have received 225 reports related to…