A 49-year-old woman has been arrested in Singapore over her alleged involvement in promoting an investment scheme linked to a platform known as “Fun Coffee”, which reportedly required participants to transfer cryptocurrency and promised unusually high returns.
The Singapore Police Force said the woman was arrested on 6 August 2026 as investigations into the purported investment platform continue.
Preliminary investigations found that she allegedly promoted the scheme and encouraged other people to participate. The platform is purportedly based in Vietnam and required users to download an application before transferring Tether, or USDT, to cryptocurrency wallet addresses provided through the app.
Participants Reportedly Unable To Withdraw Funds
According to the police, users could select from several investment plans offered within the application. These plans allegedly promised unrealistically high returns, while participants could also earn additional commissions by recruiting others into the scheme.
However, participants in Singapore subsequently found themselves unable to withdraw their funds through the “Fun Coffee” application.
The police said the woman was arrested for an offence under Section 3 of the Multi-Level Marketing and Pyramid Selling (Prohibition) Act 1973. The provision covers the promotion or participation in prohibited multi-level marketing or pyramid selling schemes, as well as holding oneself out as promoting or participating in such an arrangement.
If convicted, an offender can face up to five years’ imprisonment, a fine of up to S$200,000, or both.
Police Warn Public Against Further Payments
Authorities have urged members of the public not to make any further payments or cryptocurrency transfers to the scheme, including when contacted by people claiming to represent “Fun Coffee” or through messages or instructions provided via its application.
The case also highlights the risks of investment opportunities that rely heavily on recruitment. The police warned that members of the public should be particularly cautious when potential profits appear to depend on bringing additional participants into an investment programme.
Investors are encouraged to independently verify a company and its representatives before committing any money. This includes checking the Monetary Authority of Singapore’s Financial Institutions Directory, Register of Representatives and Investor Alert List.
The police also advised the public to verify whether an investment application is legitimate and available through official app stores, while checking user reviews and ratings before downloading it.
Cryptocurrency Transfers Can Be Difficult To Recover
The “Fun Coffee” case also involves USDT, a cryptocurrency designed to maintain a value pegged to the US dollar. Unlike a conventional bank transfer, cryptocurrency transactions can present additional difficulties when funds are sent to the wrong wallet or to an unknown recipient.
The police reminded the public never to send money to personal or unregistered accounts when dealing with investment opportunities. Requests involving private PayNow QR codes, personal mobile numbers or overseas accounts should be treated as potential warning signs.
People are also advised to activate two-step verification on banking and e-wallet accounts, set suitable transaction limits and consider using their bank’s Money Lock feature to restrict large transfers.
Anyone who encounters a suspicious investment advertisement can report it to the platform hosting the advertisement. Members of the public with information relating to suspected offences can also contact the Singapore Police Force or submit information through its online reporting channel.
The police stressed that members of the public should remain cautious when presented with investment opportunities offering unusually high returns, particularly where recruitment of new participants forms a major part of the promised rewards.