Kevin O’Leary Awarded $2.8 Million in Defamation Judgment Against Crypto Influencer Ben “BitBoy” Armstrong
By Zack Abrams, The Block – February 15, 2026
A federal court in Florida has ruled in favor of investor and television personality Kevin O’Leary, awarding him $2.8 million in a defamation lawsuit against former cryptocurrency influencer Ben Armstrong, known widely as “BitBoy.” The judgment was the result of Armstrong’s failure to defend himself in court, leading to a default ruling on six counts of defamation per se.
Background of the Case
The Southern District of Florida’s U.S. District Judge Beth Bloom entered the judgment on Thursday, following allegations made by Armstrong in late March 2025. Armstrong published multiple posts on the social media platform X (formerly Twitter), where he accused O’Leary and his wife of murder related to a 2019 boating accident on a lake in Ontario, Canada. The incident resulted in two fatalities when O’Leary’s boat collided with another vessel. While O’Leary was a passenger and was never charged, his wife, Linda O’Leary, faced charges of careless operation of a vessel but was subsequently exonerated after a 13-day trial.
In the incendiary posts, Armstrong alleged that the O’Learys had paid millions to conceal their supposed involvement in the accident. The posts, which amassed roughly 156,000 views, also disclosed Kevin O’Leary’s private cell phone number and urged followers to “call a real life murderer.” This particular post triggered a temporary 12-hour suspension of Armstrong’s account on the platform.
Details of the Judgment
The $2.8 million award breaks down as follows:
- Approximately $78,000 for reputational damages
- $750,000 for emotional distress
- $2 million in punitive damages
Armstrong offered no substantive defense throughout the litigation, leading to the default judgment. He later attempted to have the judgment vacated in January 2026, citing incarceration and mental health challenges, including a diagnosis of bipolar disorder. However, the court rejected this motion, noting that Armstrong had been properly served and delayed action for nearly a year before seeking relief.
Armstrong’s Troubled Legal and Professional History
This legal defeat marks yet another blow to Armstrong, who has faced multiple legal and personal challenges in recent years. Following the defamatory posts in March 2025, Armstrong was arrested in Florida on a fugitive warrant stemming from threatening emails sent to a Georgia judge. He faces two felony charges with potential prison sentences ranging from five to ten years. Armstrong was again arrested in June 2025 on charges related to harassing phone calls.
In August 2023, Armstrong was removed from the BitBoy Crypto brand by its parent company due to a relapse into substance abuse. Shortly thereafter, he was arrested during a livestream wherein he attempted to confront a former business partner over a disputed luxury vehicle.
Despite amassing over 1 million YouTube subscribers and establishing BitBoy Crypto as one of the most-watched cryptocurrency channels, Armstrong’s career has been marred by controversies. These include paid promotions for questionable crypto projects, a dropped lawsuit against YouTuber Atozy, and involvement in regulatory scrutiny. Notably, in July 2024, the Commodity Futures Trading Commission (CFTC) subpoenaed Hit Network, Armstrong’s former employer, in connection with a fraud investigation involving multiple tokens. Armstrong and NBA player Jimmy Butler also settled with regulators for $340,000 over claims of promoting unregistered securities on behalf of Binance.
Kevin O’Leary’s Crypto Background
Kevin O’Leary, popularly known as “Mr. Wonderful” from the TV show Shark Tank, is no stranger to the crypto landscape. Prior to the 2022 collapse of the cryptocurrency exchange FTX, O’Leary had been paid approximately $15.7 million to serve as a spokesperson. He was named as a defendant in a class-action lawsuit brought by FTX investors but has since said that the engagement was "a bad investment" and claimed to have lost all the money involved.
Interestingly, immediately following FTX’s downfall, O’Leary expressed willingness to back its founder Sam Bankman-Fried again in new ventures—Bankman-Fried was later convicted on several criminal counts and sentenced to 25 years in prison.
Challenges in Collecting the Judgment
While the $2.8 million defamation judgment is significant, reports as of late 2025 indicate Armstrong is near insolvency. Wallets linked to him have been largely drained, suggesting collection of the awarded damages may prove difficult.
The Block remains committed to providing independent and accurate reporting on the cryptocurrency industry. This article is for informational purposes and does not constitute legal, financial, or investment advice.
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