- Ben Armstrong was arrested and charged following a heated confrontation.
- Armstrong himself recorded the incident on YouTube Live.
- Carlos Diaz emerges as a central figure in Armstrong‘s downfall.
Cryptocurrency influencers have become increasingly controversial in the industry, facing growing backlash for their role in pumping speculative digital assets. The community faces accusations of shady practices, undisclosed promotions, and outright scams. This dubious reputation has only been reinforced by the dramatic fall of Ben Armstrong, the co-founder of Hit Network, now rebranded to Discover Crypto.
After being ousted from Hit Network amid alleged controversies over meme coin promotions, substance abuse, assault, and misappropriation of funds, Armstrong aimed to restart his solo operation. However, his attempted comeback has been dealt a blow following his arrest and subsequent charges of loitering and assault.
BitBoy Gets Busted
Armstrong’s arrest unfolded dramatically during a live YouTube broadcast on Monday night. The footage showed Armstrong at the residence of his business partner Carlos Diaz, purportedly to confront Diaz over alleged death threats and reclaim a Lamborghini sports car that Armstrong claimed Diaz had stolen from him.
During the live stream, the former BitBoy Crypto host made several serious allegations about Diaz, including his connections with organized crime, blackmail and extortion attempts, and his involvement in fixing sporting results.
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Approximately 20 minutes into the livestream, police arrived at the scene, and Armstrong was arrested while still live on camera outside Diaz’s home. He admitted to carrying a firearm, which was stored in the rear seat of his vehicle. However, Georgia is an “open carry state,” allowing handguns to be carried or concealed without a permit.
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Gwinnett County Police subsequently charged Armstrong with loitering/prowling and the additional charge of “simple assault” by instilling fear in another. Each charge carries a $1,300 bond.
After being released from jail, Armstrong sarcastically mocked the entire ordeal on Twitter by admitting that he’s a loiterer, in a style reminiscent of a self-help group therapy meeting.
Armstrong’s confrontational arrest outside Diaz’s home underscores their once-close business ties, but Diaz remains a relatively mysterious figure in this unfolding drama.
Who Is Carlos Diaz?
During a recent interview with the Altcoin Daily channel, Hit Network CEO TJ Shedd revealed that Diaz is a friend and associate of the company with connections to the entertainment and sports industries. Additionally, Shedd disclosed that Diaz and Armstrong operate several business ventures together as partners.
When confronted over Diaz’s relationship with Hit Network and the BitBoy channel, Shedd clarified that Diaz is not affiliated with and has never been paid by either company.
“He is a community member, a friend of Ben’s, an investor, so he’s been someone watching the channel for a long time; you can say he’s part of the Bit Squad,” explained Shedd.
Chiming in on Armstrong’s accusations of receiving death threats from Diaz, Shedd dismissed the claims as “bizarre” and likely an attempt by Armstrong to portray himself as the victim amidst the swirling controversy.
On the Flipside
- Armstrong‘s aggressive attempt to repossess the Lamborghini contradicts his recent public pledge to scale back the flashy excesses and return to a “back to basics” approach.
- Armstrong’s new personal brand rapidly gained over 53k YouTube subs and 37.5k Twitter followers in under one month, showing he still retains a strong core audience.
Why This Matters
Armstrong’s recent livestream and arrest have further eroded confidence in the ethics of crypto influencers despite his claims of turning over a new leaf. This high-profile episode raises deeper concerns about the judgment and integrity of top influencers in an industry desperately seeking credibility.
Learn about the reaction to Bitboy’s recent appeal for donations here:
‘BitBoy’ Charity Plea Met with Skepticism and Mockery
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