The Dramatic Rise and Fall of BitBoy Crypto: Scandals, Lawsuits, and a $30M Empire in Crisis

Ben Armstrong, better known as BitBoy Crypto, was once the golden boy of cryptocurrency influencers—until a whirlwind of controversies, alleged substance abuse, financial mismanagement, and a very public affair unraveled his empire. From explosive Twitter feuds to lawsuits over Lamborghinis, this is the cautionary tale of how one of crypto’s most recognizable faces lost it all. Dive into the shocking details of his downfall, his current net worth, and whether he’s facing jail time.

Who Is BitBoy Crypto?

Ben Armstrong, popularly known as BitBoy Crypto, is a prominent figure in the cryptocurrency space, celebrated for his YouTube channel and social media presence. Born on October 27, 1982, in the United States, Armstrong currently resides in Atlanta, Georgia. He holds a bachelor’s degree in Ministry leadership from Toccoa Falls College, obtained in 2012, and also attended Kennesaw State University.

Armstrong was married to Bethany Armstrong for approximately 8-9 years. Their relationship evolved from friendship to romance, eventually leading to marriage. Bethany is known for her love of reading, often sharing her favorite books on Instagram. However, in October 2023, Armstrong announced their divorce, revealing an affair with Cassandra Wolfe (@DuchessOfDeFi on Twitter), a former employee at BitBoy Crypto. Wolfe is now associated with the BEN Coin Collective, a project Armstrong launched after his exit from BitBoy Crypto.

What Happened to BitBoy Crypto?

The downfall of BitBoy crypto is a saga of partnerships gone wrong, alleged substance abuse, and financial mismanagement. Armstrong’s journey began with promise in 2018 when he partnered with TJ Shedd, who later became the CEO of BitBoy Crypto. Their shared passion for crypto and the Atlanta Falcons fueled a successful collaboration, leading to explosive growth during the 2021 bull run.

However, behind the scenes, trouble was brewing. Allegations of steroid use, financial mismanagement, and employee mistreatment surfaced. Armstrong’s behavior reportedly became erratic, with instances of aggression linked to substance abuse. By 2023, the situation reached a breaking point. BJ Investment Holdings, the parent company of Hit Network, legally ousted Armstrong, citing drug abuse and financial misconduct.

BitBoy Crypto in 2023: Legal Battles and Arrest

2023 was a tumultuous year for Armstrong. He filed a lawsuit against his former colleagues, accusing them of stealing his Lamborghini and engaging in racketeering. He also raised $150,000 in crypto from fans to fund his legal battle. Meanwhile, the official BitBoy Crypto account announced his dismissal, citing drug abuse and financial damage to the company.

Armstrong’s legal troubles escalated when he was arrested for "loitering/prowling" and "simple assault" after a confrontation with his former business partner. He was released on a $2,600 bond, but the incident further tarnished his reputation.

BitBoy’s Net Worth: How Much Did He Lose?

Despite the controversies, BitBoy Crypto’s net worth is estimated between $20 million and $30 million as of 2023. His wealth stems from early crypto investments and his influencer career. However, rumors suggest he lost over $700,000 in a crypto hack earlier this year.

Is BitBoy Crypto in Jail?

As of now, BitBoy Crypto is not in jail. He was arrested in 2023 but released on bail. The charges against him include "loitering/prowling" and "simple assault," but he has not been convicted.

Conclusion

The rise and fall of BitBoy Crypto is a cautionary tale about the volatile nature of fame in the crypto world. From explosive growth to dramatic controversies, Armstrong’s story highlights the risks of unchecked influence and personal demons. As the crypto community evolves, his saga serves as a reminder of the delicate balance between power and responsibility.

Frequently Asked Questions

Who is BitBoy Crypto?

BitBoy Crypto, real name Ben Armstrong, is a former top cryptocurrency influencer known for his YouTube channel and social media presence.

What happened to BitBoy Crypto in 2023?

In 2023, Armstrong was ousted from his company amid allegations of substance abuse and financial mismanagement. He also faced legal battles and was arrested after a confrontation with a former business partner.

Is BitBoy Crypto in jail?

No, BitBoy Crypto is not currently in jail. He was arrested in 2023 but released on bail.

What is BitBoy Crypto’s net worth?

As of 2023, BitBoy Crypto’s net worth is estimated between $20 million and $30 million.