Who’s Ben Armstrong? A Complete Investigation on Bitboy Crypto

Through the preliminary days of cryptocurrency, this new realm was seen because the ‘Wild West’ market of the brand new period, with its risky costs and unpredictable market sentiment. One more reason why it was known as the ‘Wild West Market’ was as a result of there have been people who earned plenty of earnings and a few who made devastating losses.

Influencers, one of many Wild West gamers within the crypto market, determined to make the most of this new trade within the hopes of gaining new viewership. One such crypto influencer is Ben Armstrong, sometimes called Bitboy Crypto, who took to YouTube and X (previously Twitter), sharing his evaluation on Bitcoin and altcoin charts and speculating on the upcoming costs for the approaching weeks. 

Ben Armstrong was additionally one of many influencers who was capable of develop together with the crypto market. Nonetheless, presently, Ben Armstrong, AKA Bitboy Crypto, has confronted an enormous downfall and has caught the eye of a number of mainstream media and group members.

He’s identified for allegedly selling a number of altcoins for his personal profit. Moreover, there are claims that he was instantly or not directly answerable for scams, together with rug-pull schemes. May this be the explanation why Armstrong was faraway from the BH Funding Holdings firm? 

This function focuses on Ben Armstrong’s journey—from his rise to his fall. Or a potential restoration? 

Who’s Ben Armstrong, AKA Bitboy Crypto? 

Properly-known within the crypto universe, Ben Armstrong is an American crypto influencer who gained fame via his ‘Bitboy Crypto’ YouTube channel. All through his profession journey, he has grow to be the Govt Director of Three Dimensional Life, the co-host of ‘Beards & Bitcoin,’ the proprietor of Entrance Web page Tickets, and the proprietor of Ben Armstrong Designs. 

He began his adventures with Bitboy Crypto, Excessive Throughput Productions, and HIT Community in 2018 because the founder.

Virtually each day, the favored crypto influencer, alongside along with his group, would produce content material on crypto costs, the general market sentiment, evaluation of the varied property, information articles, and conduct interviews with skilled leaders via the YouTube channel. 

Armstrong was capable of garner the eye of a number of crypto lovers, enabling his ‘Bitboy Crypto’ channel to recover from 1 million followers on social media platforms corresponding to YouTube and X (previously Twitter).

After leaving HIT Community and Bitboy Crypto, the crypto influencer began a brand new channel known as Ben Armstrong Crypto, which has over 92K followers. 

How Wealthy Was Bitboy Crypto?

Certainly one of Ben Armstrong’s wealth-making schemes was via his content material creation actions on his famed ‘Bitboy Crypto’ channel. Earlier than that, studies have been claiming that the influencer turned wealthy via his cryptocurrency investments. Reportedly, Armstrong invested in BTC 2012 when it was lower than $20, making him generate important earnings in comparison with the present market value. 

Armstrong would usually exhibit his wealth via his silver-colored Lamborghini Huracan Performante, a typical signal of extremely worthwhile success within the early crypto days. Aside from the Lamborghini, Armstrong would usually be seen carrying Gucci T-shirts, particularly the notorious Gucci-branded inexperienced pantsuit.

Though there have been indicators that Armstrong was wealthy, it was laborious to find out the precise wealth of Bitboy Crypto for 2 causes—he by no means shared his precise price with the general public, and the crypto market was very risky, making it tough to estimate the worth of his digital asset portfolio. 

Nonetheless, DataWallet, a media outlet, analyzed and revealed that Armstrong’s gross internet price could be round $10 million in 2022. Once more, this determine was not correct, as a number of different organizations claimed Armstrong was price greater than $10 million.

The crypto influencer, throughout his development stage, supplied merchandise in addition to unique content material for his followers in the event that they paid him extra money. Partnerships and affiliation packages would additionally assist him generate extra revenue. 

One other income could be via his e-book “Catching As much as Crypto: Your Information to Bitcoin and the New Digital Economic system,” which was offered and promoted via completely different platforms. Contemplating all the info, it’s protected to imagine that Bitboy Crypto might have crossed the $10 million internet price mark prior to now.

A consumer from the Reddit group known as ‘Crypto Actuality’ leaked the media package of crypto influencers, which confirmed a number of costs for the providers they offered. In accordance with the graph sheet, Bitboy Crypto was charging $40,000 for one full, devoted evaluate. Within the notes part, it has been identified that tasks can select a section video for $15,000.  

Nonetheless, after Bitboy Crypto’s devoted media package, Armstrong was apparently charging $35,000 for a devoted evaluate. In the meantime, for the livestream point out and a YouTube interview, he was charging $20,000 and $40,000, respectively. For the Telegram AMA in Bitsquad, Armstrong would cost $10,000. Lastly, it prices $2,500 to publish a web site article with Bitboy Crypto. 

Regardless of incomes plenty of earnings and dwelling an expensive way of life, Armstrong, nonetheless, confronted a sudden downfall, dropping his Lambo, repute, and, after all, cash. It appears that evidently Armstrong should have dug a deep gap via his alleged scams and rug-pull schemes. It’s time to try among the tasks supported by Ben Armstrong, AKA Bitboy Crypto.

Like many influencers within the crypto enviornment, many tasks promoted by Ben Armstrong brought about devastating losses for his or her clients. A number of of those tasks, shilled by Armstrong, additionally caught the eye of mainstream media shops and authorized representatives because of the devastating injury they brought about. As such, this may be thought-about one of many causes behind Armstrong’s downfall, which will likely be defined intimately on this function. 

DistX

Let’s begin with DistX. In accordance with Armstrong, DISTX is a “crypto undertaking with HUGE potential.” DISTX was a platform that made it more durable to defraud buyers whereas making it simpler for tasks to launch their token gross sales. DISTX was speculated to make “house safer.” Nonetheless, this undertaking brought about devastating losses for its buyers, dropping to virtually 90%. 

It was reported that the CEO of DistX, Adrian Daluz, introduced that the undertaking was going to be “deserted,” claiming the token value was not adequate. By way of an investigation performed by ‘LITELIGER,’ it was additional revealed that the undertaking didn’t ship its guarantees as proven in its roadmap. After the CEO’s announcement, the undertaking’s token suffered a drastic fall. Moreover, buyers weren’t capable of promote their tokens, leaving them to undergo a heavy loss.

Hex

One other undertaking that Armstrong promoted and later confronted scrutiny was Hex. Even in a current YouTube video, the ex-Bitboy Crypto nonetheless exclaimed, “Hex isn’t a rip-off.” Regardless of Armstrong claiming the undertaking isn’t a rip-off, some crypto group members have identified that Hex seems to be like a Ponzi scheme.

Moreover, on the final day of July 2023, the Securities and Alternate Fee (SEC) charged Richard Coronary heart and three unincorporated entities owned by him: Hex, PulseChain, and PulseX, for conducting unregistered choices of crypto asset securities that raised greater than $1 billion in crypto property from buyers.

Based mostly on the press launch, the SEC additionally charged Coronary heart and PulseChain with fraud for misappropriating not less than $12 million of providing proceeds to buy luxurious items together with sports activities vehicles, watches, and a 555-carat black diamond generally known as ‘The Enigma’—reportedly the most important black diamond on the earth. 

At present, HEX continues to be under the $0.01 value stage; nonetheless, the Hex group nonetheless exhibits assist for the undertaking on social media platforms. The assist of the Hex group may very well be an indication that they nonetheless imagine in Richard Coronary heart and his undertaking, regardless of the scrutiny

SafeMoon

Reportedly, SafeMoon was one of many tasks that originally promoted Ben Armstrong throughout his days as Bitboy Crypto. Nonetheless, in November 2023, the SEC, saying via a press launch, charged SafeMoon LLC, its creator Kyle Nagy, SafeMoon US LLC, and the businesses’ Chief Govt Officer, John Karony, and Chief Expertise Officer, Thomas Smith, for perpetrating an enormous fraudulent scheme via the unregistered sale of the crypto asset safety.

The SEC additionally additional identified that the creators allegedly worn out billions in market capital, withdrew crypto property price greater than $200 million, and “misappropriated investor funds for private use.” On-line sleuths like Coffeezilla investigated that SafeMoon was a “huge fraud” with the main focus of benefiting the creators, despite the fact that the group claimed that there was no likelihood for rug-pulling. 

BEN Coin

Although Armstrong had claimed that each one “meme cash will ultimately go to zero besides DOGE,” he promoted the BEN Coin, which was acquired by him from one other crypto X (previously Twitter) influencer, ‘ben.eth.’

Throughout his days because the Bitboy Crypto, Armstrong would put up movies concerning the newest developments of BEN Coin.

As an example, in June 2023, Armstrong talked about that Cassie Wolfe, AKA the Duchess of DeFi, is the Chief Working Officer (COO) of BEN Coin. He additionally added that a number of advisors have joined the group.

As talked about earlier, Ben Armstrong, together with a number of influencers, receives a commission to advertise some crypto tasks. In a CNBC report, it was revealed that Armstrong did settle for funds from crypto firms to advertise their merchandise.

Reflecting on previous errors, the attention-seeking influencer additionally talked about that he “hates” when he talks about tasks that didn’t do nicely. Aside from the collaborations revealed earlier, there have been a number of different crypto tasks like Ethereum Yield, Cypherium, and MYX Community that failed, plummeting in worth. 

“I imply, after all, I do. I hate it once we speak about stuff that didn’t do nicely.”

Ben Armstrong’s actions and profession journey clearly level out that influencers play a key position and have a big impact on crypto tasks when used as a instrument for advertising and marketing. Within the report, the American influencer talked about that he “disclosed all of his paid promotional movies.” Nonetheless, is that this assertion true? Let’s discover out. 

The Battles Confronted By Bitboy Crypto 

Throughout Ben Armstrong’s journey as Bitboy Crypto, he confronted plenty of battles with influencers, authorized representatives, and plenty of different members of the crypto group. Listed here are among the battles that have been standard and extremely seen by the crypto group:

Atozy vs. Bitboy Crypto

The battle between Armstrong and Atozy, a chat present host commenting on current web occasions, spanned for an extended interval, with a lawsuit being filed as nicely. So how did this battle begin?

Again in November 2021, Atozy made a YouTube video explaining how Bitboy Crypto was scamming his followers. The speak present host began his video by describing Bitboy Crypto as a “shady dirtbag who milks his viewers for a fast buck relatively than giving them real recommendation.”

To justify his feedback, he additional shared clips of Armstrong selling the Pamp community (one other rug-pull undertaking). When Armstrong talked about that this undertaking is “assured” to go up, Atozy checked PAMP’s value, which was valued at zero. The speak present host additional mocked Armstrong and identified the intelligent techniques carried out to advertise the undertaking. 

Virtually a yr later, Armstrong took authorized motion and filed a lawsuit in opposition to the speak present host. In response, Atozy additional shared studies that proved Bitboy Crypto was getting paid to advertise tasks. 

Atozy additionally sought out assist from his group and followers, asking them to assist cowl the prices of defending himself in opposition to this lawsuit. He additionally promised that the remaining funds could be used to donate to varied charity organizations. 

Days later, Armstrong’s battle with the speak present host appears to have come to an finish, with Atozy turning into the victor. The eye-seeking influencer additional apologized, claiming this dispute had grow to be public unintentionally.  

Atozy’s feat was seen by the entire crypto group, displaying Bitboy Crypto was a “shady dirtbag” who obtained paid for selling crypto tasks.

ZachXBT Revealing Bitboy Crypto’s Secrets and techniques

Like Atozy, a number of crypto influencers, on-line speak present hosts, and digital sleuths have accused Ben Armstrong of shilling tasks. One of many well-known sleuths within the crypto group is ZachXBT, who posted a complete element concerning the direct scams Bitboy Crypto has labored with prior to now. 

Within the tweet, ZachXBT came upon about seven direct scams that Ben Armstrong has labored with and promoted to his viewers. Aside from accusing Armstrong of selling rug-pulls and fraudulent tasks, ZachXBT additionally claimed that Bitboy Crypto would usually plagiarize different artists’ work.

Naming the primary fraudulent undertaking, ZachXBT confirms that Armstrong had labored with MYX, one other rug-pull undertaking. Nonetheless, after the undertaking’s downfall, the favored influencer deleted the video. The place he was selling MYX. 

Another fraudulent tasks that have been promoted by the influencer additionally embrace DISTX, Zao Finance, ETHY, PAMP, CPH, and LOCK, which have been identified for inflicting devastating losses for people. After these tasks “ran away with investor’s cash,” Bitboy Crypto additionally deleted the movies the place he was selling these fraudulent crypto merchandise. 

ZachXBT additionally identified that Bitboy Crypto had plagiarized just a few artists’  works and tried to promote them as NFTs. When the proof was given, the group behind Bitboy Crypto claimed that they have been simply “sampling.”

Right here is the worst factor, when just a few members of the crypto group would name out Armstrong for plagiarizing content material, he would admit it with out even apologizing. In a single situation, when a consumer knowledgeable the general public that the influencer had stolen content material “phrase for phrase” from one other particular person, Armstrong replied, “We’ll ship 100% of the earnings. I didn’t design it. However you’re a bitch.” 

This clearly exhibits why many individuals hate him and name him “a shady dirtbag who milks his viewers for a fast buck relatively than giving them real recommendation.”

Aside from paintings and content material, proof exhibits that Bitboy Crypto additionally plagiarized buying and selling calls. Actually, he stole the spreadsheet and shared it in his YouTube video with out giving any credit score to the self-claimed dealer, Bluntz.  

On one event, Bitboy Crypto was confronted by a lady at an occasion who known as the influencer a “scammer.” We are able to see within the above video that when Ben Armstrong does give the lady an opportunity to share her proof, he abruptly interrupts her instantly, calling her a “little one molestor” for no cause. We are able to additionally see that he solely interrupts her when she brings up ZachXBT’s threads as proof.   

BitBoy Crypto’s Violent Threats to Attorneys

Ben Armstrong’s actions have caught the eye of attorneys, touchdown him a lawsuit. After he did obtain a lawsuit, Armstrong would usually make “each day violent threats” in opposition to attorneys, particularly calling Adam Moskowitz “dumb” and a “strolling piece of human rubbish.”

In a discover of proof to the US District Court docket, Southern District of Florida, Miami Division, attorneys shared proof of Ben Armstrong making such vile remarks on X (previously Twitter) and sending threatening emails to the attorneys. 

Within the courtroom paperwork, the attorneys shared proof by highlighting ZachXBT’s and Atozy’s investigations, which proved Armstrong was shilling cryptocurrencies. Upon additional investigations, the attorneys have been capable of finding previous movies the place Armstrong promoted FTT, the bankrupt FTX alternate’s token.  

In one of many movies, Bitboy Crypto claimed, 

“Let’s speak concerning the secret token. FTT. That’s the token of FTX. Sam Bankman-Fried. Every part this man touches turns to gold. FTT is probably going to be one of many few cash I imagine that would go up within the bear market. Now, I do know that sounds loopy as a result of I let you know, hardly something ever does. We might see FTT simply completely rip.”

Attorneys weren’t the one ones who seen BitBoy Crypto selling the fallen FTT. The X (previously Twitter) crypto group customers started sharing Armstrong’s quotes when he used to advertise the token prior to now. With all these proofs, many individuals have expressed that Bitboy Crypto has been making the most of his group, making earnings, with completely no regard for the injury. 

The Fall of Bitboy Crypto

By mid-2023, Bitboy Crypto confronted devastating losses each personally and mentally. What was the explanation behind his downfall? 

On August 28, 2023, BJ Funding Holdings, the guardian firm of Hit Community, tweeted that they’d taken decisive authorized motion to take away Ben Armstrong from the corporate, particularly the Bitboy Crypto model. 

Elaborating on the announcement, the assertion highlighted, “It is a tough choice that may be a fruits of a chronic effort to assist Ben throughout his relapse into substance abuse in addition to reconcile the emotional, bodily, and monetary injury he has accomplished to the staff of the HIT community and the Bitboy Crypto group.” 

“The Bit Squad deserves higher, and we’re going to get via this collectively. We want him the most effective and remorse it has come to this and are eager for the way forward for Bitboy Crypto.”

When requested why Armstrong was fired in an Altcoin Every day episode, TJ Shedd, the present CEO of Hit Community, talked about that the influencer was inflicting “materials hurt and injury” to the corporate, himself, and the staff of the corporate. Shedd additionally identified that a number of of Armstrong’s actions have been creating huge authorized legal responsibility publicity for the corporate. 

Aside from getting fired, the American influencer additionally publicly introduced that he and Bethany Armstrong could be getting a divorce. He additional confirmed the rumors about him and Cassandra Wolfe having an affair. 

In an try and get Bitboy Crypto again, Armstrong posted a video the place he requested for assist from followers, requesting to donate some cash to pay for his authorized fund. In a matter of hours, an X (previously Twitter) platform, WhaleWire, noticed that over $120,000 had been donated to Bitboy Crypto. This may very well be a sign that there are nonetheless followers who stay loyal to Bitboy Crypto.

Armstrong additionally took excessive steps by dwell streaming outdoors of Carlos Diaz’s home after knocking on his door. Within the dwell stream, the influencer talked about that Carlos had his favourite Lamborghini and commenced speaking about the complete story of the dispute. The livestream ended with Armstrong being arrested by the cops of Gwinnett County, Georgia. Armstrong additionally confirmed via a tweet that he had spent eight complete hours in jail.

After Bitboy Crypto was fired, the YouTube channel rebranded to Uncover Crypto. The American influencer additionally took to X (previously Twitter) to announce, “Bitboy is useless. There isn’t a Bitboy. There isn’t a Bitsquad. It’s over.” At present, he nonetheless creates video content material for his new YouTube channel, ‘Ben Armstrong.’

Conclusion

Ben Armstrong was one of the standard influencers within the crypto house, attracting customers along with his varied advertising and marketing methods and content material creation model. Whereas he has been accused of shilling tasks, plagiarism, and inflicting injury, there are nonetheless followers on the market who stay loyal even all through the influencer’s antics and downfall. 

This text is that will help you perceive who Armstrong is and in addition present a glimpse into the world of hidden influencers. Similar to Armstrong, there may very well be a number of influencers who’ve allegedly shilled crypto tasks with out being clear about them. Influencers within the crypto market could stay as a method to advertise fraudulent tasks (provided that YOU resolve)!