Fun Coffee Funds Network Circulates $72.83 Million, Operators Transfer Over $27.44 Million

BlockSec monitoring shows that the cross-border funds scheme Fun Coffee involves a network of 99 addresses operating in four layers: 91 rotating collection addresses, 1 aggregation address, 4 transit addresses, and 3 disposal hubs. The network has cumulatively received $72.83 million USDT (TRON), which has now all been transferred out, leaving a zero balance. The flow of funds is divided into two categories: approximately $45.39 million has flowed back to investors and team leaders through redemption channels, with 86.63% entering 946 exchange recharge addresses; at least $27.44 million has been transferred to large hubs through transfer channels, confirmed to be moved by the operators. BlockSec points out that the inflow scale of this scheme has been monotonically increasing for nine consecutive months, with the fundraising amount in July 2026, the month it ceased operations, being the highest in nine months, indicating that it is not a case of funds drying up and collapsing, but rather interrupted by external regulatory intervention. The Public Security Department of Khanh Hoa Province, Vietnam, issued a risk warning in May, and the Hong Kong Securities and Futures Commission listed it as a suspicious investment product on July 13. The platform ceased operations on July 20. The overall recovery rate of 175 on-chain self-custody addresses reached 126.1%, but only covers 12.51% of the funds in the redemption channels, which cannot represent the true losses of ordinary victims. As of August 19, the police in Hong Kong and Macau have received 286 reports, involving an amount of approximately HKD 118 million, arrested 8 individuals, and frozen approximately HKD 610,000 suspected of criminal proceeds.

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