Ben Armstrong, also known as “BitBoy Crypto”, has gained notoriety in the cryptocurrency industry thanks to his YouTube channel, which currently has around 1.44 million subscribers.
BitBoy videos contain a variety of sensational content, from market commentary to news and interviews with other famous or controversial people in the field.
Armstrong’s interview included HEX founder Richard Hart, as well as John McAfee, TRON’s Justin Sun, Cardano founder Charles Hoskinson, and NBTV’s Naomi Brockwell.
BitBoy recently encountered accusations of cheating or misleading their viewersas there was plenty of evidence that he did not disclose paid promotional content in his videos.
Blockchain detective ZachXBT disclosed BitBoy Crypto advertising prices while pretending to have a project that he wanted to promote on the BitBoy channel. Although the representative of BitBoy argued that the team carefully vetted all sponsors, the rep showed little to no due diligence when talking to ZachXBT, simply listing their prices and requesting payment.
BitBoy has a history removal videos of projects that turned out to be fraudulent or whose value collapsed -99% or more — but often not before the researcher saves screenshots of evidence that the videos existed.
According to research by ZachXBT, several ICOs and NFTs that BitBoy promoted ended up with no bidders or bids less than 1% of what they were worth at the time of its promotion.
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Another YouTuber named Erling Mengshul Jr., also known as “Atosy”, also accused BitBoy of promoting video scams in November 2021. BitBoy responded by filing a libel suit, claiming that he lost $75,000 because of Atosi’s claims.
After Atozi used Twitter to ask the crypto community is funding its legal fees, and crypto trader Kobe donated $100,000 in USD for the case, it seems that BitBoy has decided pull a lawsuit.
ZachXBT tracked ROI for every moonshot video BitBoy makes in 2021. Most of the coins and tokens showed significant losses, with some of them losing more than 75% – one of them by as much as 95.56%. ZachXBT noticed that the purported paid shares turned out to be the worst for investors, and that none of the tokens rose 100x as BitBoy had originally thought.
Despite the overly confident language used in his video titles, BitBoy has also repeatedly failed to predict whether the price of bitcoin will move up or down. ZachXBT’s findings prove that using BitBoy’s investment advice as a trading strategy will result in investors losing a significant amount of money.
The accusations against BitBoy are not limited to hiding promotional content. He got caught too plagiarism someone else’s content, after which he accused his own screenwriterand stealing other people’s art to create and sell NFTs, after which he stated that he was just sampling the art.
BitBoy is not the first major YouTuber to be caught promoting investments without disclosing the amount of the reward. Previous big names who promoted scams or low-quality projects that later collapsed in value include Steven Seagal and members of the popular gaming channel The FaZe Clan.
Having 1.4 million subscribers may not save BitBoy if allegations of its involvement in promoting crypto scams are proven.
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