Prominent crypto influencer Ben Armstrong, widely known as BitBoy Crypto, was reportedly arrested on September 25 during a livestream from the residence of Carlos Diaz, a former business associate. Armstrong had previously announced on social media that he would be broadcasting live from a “special location”.
I’ll be going live soon from a very special location on YouTube so get ready this is going to be good
— Ben Armstrong (@BenArmstrongsX) September 25, 2023
During the now-deleted livestream, Armstrong accused Diaz of having malicious intentions and alleged connections with organized crime in Houston. Around 19 minutes into the livestream, local police arrived and questioned Armstrong about carrying a weapon. Armstrong denied having a weapon on his person but did admit to having one in the backseat of his car.
Following this, Armstrong was instructed to put down his phone, and the video feed went blank, although the audio of a conversation between Armstrong and the police continued to be audible. The arrest had immediate financial repercussions in the crypto market. BEN, a cryptocurrency launched by Armstrong earlier this year, plummeted by 30% following news of his arrest.
Records from the Gwinnett County, Georgia, Sheriff’s Office confirmed that Benjamin Charles Armstrong was booked at 9:11 pm local time and remains in custody. Carlos Diaz corroborated Armstrong’s presence at his residence in a post dated September 26.
Blockchain analyst ZachXBT, who has been openly critical of Armstrong, expressed a sense of vindication following the arrest. He stated that he would “always celebrate” when someone he views as a “notorious bad actor in crypto” faces repercussions, referring to it as “finally getting karma.”
In late August, Hit Network, the entity behind the BitBoy Crypto brand, severed its ties with Armstrong, citing concerns over substance abuse and financial harm to its employees. This led to multiple lawsuits being filed and later withdrawn by various parties. Armstrong had also solicited donations to fund his legal battles, a move that drew criticism from the crypto community.
During the livestream, Armstrong disclosed that Cassie Wolfe, BitBoy Crypto co-founder, and his alleged mistress, was accompanying him. He clarified that his wife was aware of his activities and location.
Armstrong was discussing a conspiracy theory involving his crypto asset, BEN coin, and US Congresswoman Maxine Waters before the police intervened. As of this writing, Armstrong has not made any public statements, lending credibility to reports of his arrest.
