{
  "id": 14702899,
  "title": "#SHOWBIZ: HK actor Alex Fong reveals massive NFT losses, luxury watch spending",
  "url": "https://urgent.news/2026/10/15/showbiz-hk-actor-alex-fong-reveals-massive-nft-losses-luxury-watch",
  "topic": "culture",
  "section": "Culture",
  "published": "2026-10-15T13:16:27.000Z",
  "source": {
    "name": "New Straits Times",
    "slug": "new-straits-times",
    "url": "https://www.nst.com.my/lifestyle/groove/2026/10/1556398/showbiz-hk-actor-alex-fong-reveals-massive-nft-losses-luxury-watch"
  },
  "original_language": "en",
  "account": "HONG KONG - Actor Alex Fong Lik Sun has disclosed his financial hardships during the pandemic, revealing that he suffered significant financial losses due to investing in non-fungible tokens (NFTs) years ago. The 46-year-old did not inform his family about the extent of his losses, causing his wife to repeatedly inquire about the amount. Fong admitted that his financial troubles worsened after purchasing a property just before the pandemic hit. He expressed fear upon seeing the remaining balance in his bank account and eventually managed to recover a portion of his funds. The veteran singer-actor also admitted to indulging in luxury watch purchases, spending between HK$100,000 (approximately RM52,010) and HK$200,000 (around RM104,020) on individual timepieces when work was scarce. However, he discontinued excessive spending after reading an online article highlighting how affluent individuals invest in expensive items as a facade to project success and conceal their insecurities. Fong now emphasizes the importance of saving money and building a more stable financial foundation, especially with a family to support. He cautioned others against making similar investment mistakes, stating that he initially sought a quick path to wealth, which ultimately led to his financial losses.",
  "summary": "HONG KONG: Veteran singer-actor Alex Fong Lik Sun has opened up about the financial struggles he faced during the pandemic.",
  "key_points": [
    "Actor Alex Fong lost significant funds in NFT investments",
    "Fong spent HK$100,000-HK$200,000 on luxury watches",
    "He now advocates for stable financial planning"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}