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According to a recent report, Ben Armstrong, popularly known as BitBoy in the cryptocurrency community, is facing tumultuous times. After being ousted from the company he founded, he has claimed to be on the receiving end of threats and extortion attempts. Consequently, Armstrong is contacting his followers for financial assistance in his legal battle.
BitBoy: From Company Founder to Outcast
Ben Armstrong’s troubles began when he was allegedly pushed out of Hit Network. He founded this media company back in 2018. However, Armstrong claims that the company’s CEO, Timothy “TJ” Shedd Jr., and TJ’s father, Timothy Shedd Sr., conspired to take over the business unlawfully. As a result, he found himself locked out of various accounts, effectively stripping him of control.
Besides these corporate issues, Armstrong contends with personal challenges. He alleges that his opponents have subjected him to public humiliation, blackmail, and even death threats. Moreover, Ben even claims extortion attempts over his Lamborghini. Hence, he filed a lawsuit in Georgia against the parties.
Additionally, a dramatic twist in events saw the rebranding of the ‘BitBoy Crypto YouTube channel to ‘Discover Crypto,’ showcasing the influence of the Hit Network over the brand.
Moreover, in an emotional appeal on the social platform, X, Armstrong shared his predicament. He stated he was undergoing the “most traumatic experience” of his life. Furthermore, Ben disclosed that he lacked the funds to sustain his legal battle. Thus, he earnestly requested his followers, especially those who have benefited from his work, to support him financially.
Crypto Community’s Mixed Reactions
Significantly, the crypto community has yet to rally behind Armstrong unanimously. While some followers generously contributed to his Ethereum wallet, reportedly amassing nearly $57,000, others have been more skeptical. Several users pointed to Armstrong’s display of luxury items in his videos, questioning the legitimacy of his claims of financial distress.
ZachXBT brought attention to a recent video where Armstrong sported a high-end luxury watch, suggesting that Armstrong’s plea might be more about damage control than genuine need.
Furthermore, debates have ignited on various crypto forums and Twitter threads about the ethics of influencers asking for financial assistance. Some argue that Armstrong, profiting significantly from the crypto boom, should have the foresight to save for such rainy days. Others contend that regardless of his past earnings, no one should endure the kinds of threats and extortions that Armstrong alleges.
As a result, Ben (BEN) saw a severe negative trend during the last day, with prices falling from an intraday high of $0.00000002511 to a 7-day low of $0.00000001832. At press time, BEN was trading at $0.00000001906, a 12.68% decrease from its 24-hour high.
BEN/USD 1-day chart (source: CoinGecko)
Armstrong’s plea also drew attention to the more significant issue of trust in the crypto community. Given cryptocurrency’s decentralized and often anonymous nature, faith plays a critical role in transactions and interactions. However, incidents like these, where a prominent influencer is embroiled in controversy, tend to shake that trust.
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