BitBoy Crypto's Empire Crumbles Amid Legal Woes, Financial Losses

Ben Armstrong, widely known as BitBoy Crypto, once stood as one of the most prominent figures in the crypto media landscape. His journey began in October 2012 when he purchased 0.5 Bitcoin at $12.50 per coin, marking his entry into the crypto space. Before fully committing to crypto, Armstrong operated a digital marketing business and worked with a rehabilitation center in Atlanta. His transition into crypto content creation started in April 2018 with the launch of the BitBoy Crypto YouTube channel, which quickly gained traction, surpassing 1 million subscribers by early 2022. Armstrong's content strategy, which included daily market updates, token reviews, and sponsored videos, resonated with a broad audience, positioning him as a familiar and trusted voice in the crypto community.

However, Armstrong's reputation began to unravel in early 2023. A Reddit post leaked his promotional rate card, revealing that he charged significant fees for endorsements and promotions. This revelation renewed scrutiny around several crypto projects he had promoted, many of which later faced regulatory action or collapsed. Notable examples include DISTX, HEX, and SAFEMOON, all of which resulted in substantial investor losses. On-chain data from Etherscan showed that insider wallets moved 8 million SAFEMOON tokens shortly after Armstrong publicly endorsed the project. In June 2023, Armstrong launched his own meme token called BEN, which saw a significant decline in value by the end of the year. Blockchain researcher ZachXBT published an investigation detailing millions in undisclosed promotional payments tied to Armstrong, further damaging his credibility.

Armstrong's role at HIT Network, his former media employer, officially ended in August 2023 due to gross misconduct. Financial records later leaked to the media showed a revenue decline from $500,000 per month in 2022 to $50,000 by November 2023. In December 2024, reports stated that Armstrong owed HIT Network $250,000 in outstanding obligations. Between early 2024 and early 2025, Armstrong's public and private life became increasingly unstable. He participated in a boxing match in Mexico City, which attracted significant attention but resulted in steep declines in the value of several tokens. In March 2024, the U.S. Securities and Exchange Commission issued a public advisory warning investors about the risks of influencer-led token events and short-term promotional campaigns. Armstrong's personal challenges deepened with the finalization of his divorce in January 2025, which included $180,000 in unpaid alimony and child support. A GoFundMe campaign launched in December 2024 raised $14,800 from 1,350 donors, citing legal and medical expenses as its purpose.

Legal issues escalated in March 2025 when Armstrong was arrested outside his partner’s residence in Deltona, Florida, following a domestic dispute. He was charged in a separate case involving felony threats against a judge. As of June 2025, court records indicate that his case remains unresolved, with a psychiatric evaluation delaying his bail hearing until early July. The arrest was formally logged on Mar. 25 and confirmed the next day through a statement issued by the Volusia County Sheriff’s Office. Armstrong is now in custody at the Volusia County Branch Jail in Florida, facing felony charges tied to written threats against a sitting judge. Each charge carries a potential prison sentence of 5 to 10 years. Despite his detention, updates continue to appear on his official X account, with his team posting messages encouraging followers to share support. A pinned post dated Jun. 7 invited the public to send letters of encouragement as legal proceedings continue.

Armstrong's story serves as a cautionary tale about the dangers of unchecked influence in the crypto ecosystem. What began as a well-timed entry into Bitcoin for Armstrong eventually grew into a multi-million-dollar media platform. Over time, the pressure to remain visible overtook the motivations that once grounded his work. Promotions became entangled with financial risk, content blurred into personal conflict, and public trust eroded under mounting legal and reputational damage. In the end, Armstrong's story is less about crypto misadventures and more about what influence without restraint can become in an ecosystem still learning where its boundaries should be.