Crypto star BitBoy who claimed to be worth $40M saw his life implode after he created currency named after HIMSELF and cheated on wife with quadruple divorcee

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Written By Maya Cantina
  • Ben Armstrong, 41, who went by the online handle BitBoy, claimed to be worth $40 million during the crypto highs of 2021
  • The YouTuber has since lost his production company, most of his friends and his wife has filed for divorce
  • The downfall began in August when his friends and business partners ousted him from his company HIT Network 

A cryptocurrency YouTuber who once claimed his business was worth $40 million during the digital currency boom 2021, has seen his empire collapse and his wife leave him. 

Ben Armstrong, 41, who went by the online handle BitBoy, has since lost his production company, most of his friends and his wife has filed for divorce. 

His downfall came just six years after he got into cryptocurrency as an amateur, quickly becoming a big name by posting YouTube videos where he’d share advice with the rapidly expanding cryptocurrency community. 

The downfall began in August when his friends and business partners ousted him from his company HIT Network after he created a cryptocurrency named in his honor – BEN coin. 

Previously, the former graphic designer and car wash owner had claimed to be worth a cool eight figure amount, although that cash belonged to an investment firm set up in his name.  

Since then he has been accused of extortion, theft, sexual harassment and workplace violence, the New York Times reported. 

After learning of his affair with a four-time divorcee, his wife filed for divorce and has hired a forensic accountant. 

His wife Bethany Armstrong filed for divorce in October, just months after the couple posted a video stating that they would be working through the crisis together

Known for wearing a green Gucci suit and driving a Lamborghini, Armstrong lost the sportscar in a bizarre signing over of the deed with one of his former fans and an investor of his BEN cryptocurrency

Known for wearing a green Gucci suit and driving a Lamborghini, Armstrong lost the sportscar in a bizarre signing over of the deed with one of his former fans and an investor of his BEN cryptocurrency

Armstrong lost much of his fanbase after coming up with his own cryptocurrency called BEN coin, whose logo is pictured

Armstrong lost much of his fanbase after coming up with his own cryptocurrency called BEN coin, whose logo is pictured 

‘Ben lost track of the person he used to be,’ T.J. Shedd, his former business partner, who was part of the ousting and is suing him, said in a statement. 

He caused enormous damage to both his professional and personal relationships.’ 

Shedd filed a lawsuit against Armstrong for ‘unlawfully directing and diverting’ as much as $50,000 a month to Cassandra Wolfe, with whom he was having an affair.

The lawsuit opened the floodgates and Armstrong has now been accused of abusing steroids, inappropriate violent behavior at the office, from sexual harassment to ‘throwing filled bottles of protein shake’ at staff.

Three male employees at HIT Network have also accused him of touching them sexually, according to police reports reviewed by The New York Times. 

His wife Bethany Armstrong filed for divorce in October, just months after the couple posted a video stating that they would be working through the crisis together. 

Bethany could be seen looking supportive next to her love rat husband as he spoke about himself and his failings at length.

He said: ‘Obviously a lot of people know at this point and if you don’t you’re gonna know now I had an affair. 

‘I did and I know that I have a family brand…and it went on for a while and you know the other person is not a bad person. I want to say that I take full responsibility for all of this.’

But Armstrong subsequently showed no loyalty to the mother of his three children, saying: ‘I like her better than my wife,’ of his glamorous mistress.

‘Not to be too crass, but we have a really, really great relationship.’ 

Armstrong has been accused of 'unlawfully directing and diverting' as much as $50,000 a month to Cassandra Wolfe, with whom he was having an affair

Armstrong has been accused of ‘unlawfully directing and diverting’ as much as $50,000 a month to Cassandra Wolfe, with whom he was having an affair

Armstrong is pictured in Las Vegas with Wolfe last fall, when he claimed the pair had just won a Tesla Cybertruck

Armstrong is pictured in Las Vegas with Wolfe last fall, when he claimed the pair had just won a Tesla Cybertruck

Just last year Armstrong signed a contract worth $1 million a month with the gambling company Stake

Just last year Armstrong signed a contract worth $1 million a month with the gambling company Stake

Wolfe herself has already been married and divorced four times, before meeting Armstrong at a crypto conference in 2022, where he was promoting his own cryptocurrency, BEN, named after himself.   

Known for wearing a green Gucci suit and driving a Lamborghini, Armstrong lost the sportscar in a bizarre signing over of the deed with one of his former fans and an investor of his BEN cryptocurrency.  

The transaction was subject to a lawsuit, in which Armstrong claimed he was extorted.

A judge ruled in favor of the new owner, after Armstrong was not able to confirm whether payment for the car had been made out of his personal funds or a business account.

‘The judge is corrupt, there’s no win ever for me,’ he shouted, before storming out of court.  

Armstrong has claimed in recent social media posts to have become the victim of a ‘criminal conspiracy’ and ‘terrorists’ who took over his YouTube channel, which once had more than 1 million subscribers. 
Just last year Armstrong signed a contract worth $1 million a month with the gambling company Stake, which lets users wager crypto in casino-style games.

   

Now, he says, ‘I’m going through a midlife crisis, a spiritual crisis.’ 

New York TimesYouTube

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