Crypto Influencer Ben Armstrong’s Promotions Linked to Scams

• Due to legal troubles, Ben Armstrong was taken into custody in Florida on March 25.
• Armstrong’s crypto promotions were linked to several scams and investigations.
• Armstrong’s involvement in the $BEN token scam is being looked into by the CFTC.

Ben Armstrong, known as BitBoy Crypto, has made a huge impact in the crypto world with his influential YouTube channel and high-priced promotional services. What is evident, however, is that throughout his career, he has always faced controversy, as investigations found him linked to several cryptocurrency scams. Despite his massive following, Armstrong’s promotions have raised uncomfortable questions about influencer responsibility and ethics in the industry.

Authorities labeled him a fugitive from justice after his arrest at 7:18 p.m. local time. Armstrong had revealed just days earlier, on March 21, that an arrest warrant had been issued for him due to his actions regarding legal matters.

Legal Issues and Self-Representation Claims

Armstrong took to social media to confirm the existence of the arrest warrant. He claimed that the warrant stemmed from emails he sent to Judge Kimberly Childs of the Cobb County, Georgia Superior Court. Armstrong, acting as his own lawyer, revealed these communications in an X post, which caused a stir in the crypto community. He explained that the emails, sent under his personal legal representation, had been a factor in the legal developments.

It is interesting to see how Armstrong’s career as a cryptocurrency influencer has become a controversy of its own. At one time, he was regarded as among the top leading figures in crypto promotions, with his YouTube channel attracting millions of subscribers. His endorsements had the power to propel lesser-known cryptocurrencies into the spotlight.

Controversies and Allegations

Armstrong’s rise in the crypto world came with scrutiny. Investigations have linked him to multiple scams, with blockchain investigator ZachXBT identifying at least seven fraudulent crypto projects associated with Armstrong. The controversies surrounding his endorsements have sparked discussions about the responsibility of influencers in the cryptocurrency space.

Armstrong’s hefty promotional fees, ranging from $10,000 for a Telegram AMA to $40,000 for a YouTube interview, highlight his influence. However, the growing concerns about the legitimacy of the projects he promoted have led to a loss of trust among many crypto enthusiasts.

Related: Crypto Influencer Ben Armstrong Gets Arrested After Dispute

CFTC Investigations and Ongoing Legal Battles

The Commodity Futures Trading Commission has taken an interest in Armstrong’s activities, particularly his involvement with the $BEN token. In July 2024, the CFTC subpoenaed Armstrong’s former company, The Hit Network, which has plenty of information on fifteen cryptocurrencies, one of them being $BEN. Further, Armstrong’s $BEN promotion has impacted the legitimacy of his actions regarding allegations of fraud and mismanagement.

As the lawsuit proceeds, the arrest of Armstrong reminds all of the risks attached to the social media influencer advertising model within the cryptocurrency space. Investors are disillusioned with the authenticity of endorsements by such influencers; hence, exercise extreme caution in considering an investment for oneself.

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