September 20, 2023 at 11:13 GMTModified date: September 20, 2023 at 11:13 GMT
September 20, 2023 at 11:13 GMT

Former BitBoy Ben Armstrong reduced to begging, as donations top $55k

Ben Armstrong, known as the former face of BitBoy Crypto, recently claimed he is facing death threats from Hit Network.

Pennies. Pic: Unsplash

Crypto influencer Ben Armstrong, known as the former face of BitBoy Crypto, recently claimed he is facing death threats from Hit Network.

“Blackmail, extortion, public humiliation, death threats, outright lies, and more. I have receipts and proof 100%,” he said in a video posted on YouTube and social media app X on 20 September. 

The crypto influencer is now asking his followers to donate for his legal cause, as he claims to be cut off from all his money. At the time of writing, his ETH address has a balance of over $55,000. 

Armstrong’s departure from the BitBoy Crypto brand came after Hit Network, the parent company, raised concerns over alleged substance abuse and financial mismanagement. 

BJ Investment Holdings proceeded with legal action to distance Armstrong from both the company and its YouTube channel.

The Bitboy Crypto legal fight

Armstrong, the founder of BitBoy Crypto started a lawsuit against parent company Hit Network after he was ousted in August. Named as defendants in the lawsuit were Hit Network CEO Timothy ‘TJ’ Shedd Jr., Timothy Shedd Sr., and TJSJ Holdings.

Through the lawsuit, Armstrong was looking to gain back his lost channel, along with its social media and email accounts. He also demanded full access to BJIH’s financial records and insists that all legal costs be provided by the defendants.

In his recent video statement, Armstrong said he has been on the receiving end of death threats from the people he’s currently taking legal action against. 

Armstrong also claimed he was extorted out his Lamborghini and has been completely cut off from his money. 

To fund his legal battle, Armstrong has reached out to his followers. “I’m humbly asking anyone who has ever benefited from my content or anything I’ve done to help donate to my legal fund to get BitBoy Crypto back,” he said. 

However, Armstrong’s appeal has been met with scepticism by some in the crypto community. 

ZachXBT, a blockchain “detective”, responded to Armstrong’s post on X: “How about all the people who lost money as a direct result of you promoting sketchy projects and more recently meme coins?”

Meanwhile, others pointed towards the $350,000 Rolex he was wearing while recording the video.

Bitboy’s fall from fame

The BitBoy Crypto YouTube channel was founded by Armstrong in February 2018, serving as a hub for crypto news, project reviews, and trading advice. At the time of writing, the BitBoy Crypto YouTube channel, which was renamed to Discover Crypto after Armstrong’s departure, has a following of 1.45 million subscribers. The brand has an additional one million followers on its official X account.

Despite the platform’s popularity, Armstrong has faced criticism during his role at BitBoy Crypto. He has been known to insult significant figures like the US Securities and Exchange Commission chair, Gary Gensler, and the European Central Bank president, Christine Lagarde.

Armstrong faced other criticism that he was profiting by promoting certain tokens on his channels, only to sell them shortly after. 

By the end of August 2023, Armstrong was removed from the BitBoy Crypto brand and its associated YouTube channel.

The company, in a statement, expressed its regret over the situation, citing concerns over Armstrong’s alleged relapse into substance abuse and the consequential impact on Hit Network’s employees and the BitBoy Crypto community.