• Crypto influencer Ben Armstrong, also known as BitBoy, was arrested during a live-stream altercation.
• Armstrong is alleging that his former business partner, Carlos Diaz, possess his Lamborghini.
• After being arrested, Armstrong was later released on bail, but the incident had seriously hampered the value of his crypto token BEN.
In a dramatic twist of events, prominent Crypto influencer Ben Armstrong, also known as BitBoy, was reportedly arrested during a live-stream outside the residence of his former business associate, Carlos Diaz, a notable consultant and Non-Fungible Token (NFT) investor.
Armstrong had posted earlier that he was about to go live from a special location, after which the live-stream showcased him at Diaz’s house. The crypto enthusiast went on an abusive tirad, accusing Diaz of wanting to kill him and having links to the Houston mafia. Nearly 19 minutes into the stream, local police intervened, the stream went blank, and Armstrong was later confirmed to be incarcerated. This event sent shockwaves through social networks, as it was a unique case of a highly followed crypto personality being arrested.
The Gwinnett County Sheriff’s Office in Georgia, confirmed that one Benjamin Charles Armstrong was booked on Sept. 25 and remains detained. Blockchain sleuth and Armstrong critic, ZachXBT, commented on the event: “Will always celebrate one of the most notorious bad actors in crypto finally getting karma.”
On the flip side, Armstrong was released on bail after being charged for loitering/prowling and for simple assault by placing another in fear, according to the Gwinnett County Sheriffs Department online record. The bond for his release was set at $2600.
The late-night drama had severe repercussions in the crypto market. BEN tokens, floated by Armstrong earlier this year, experienced a significant 30% drop as news of the arrest spread early Tuesday. Tackling the issue head-on, Armstrong acknowledged the incident via a tweet on the same day.
Previously, a central figure of crypto media company BitBoy Crypto, Armstrong, had been ousted following a unanimous decision in August, which seems to have led to this recent altercation. As the crypto community awaits further developments, the situation underscores the unpredictable world of crypto and its personalities.
Additional updates on this episode can be expected, as both sides of the dispute have been rather vocal on their respective social media platforms.