The practice of litigation in the crypto industry has become quite common in recent years. Some major cryptocurrency companies are even suing individual financial regulators in the US. In general, the dispute between BitBoy Crypto and Atozy is most reminiscent of the trial between "False Satoshi" Craig Wright and crypto-enthusiast Hodlonaut. Recall that Wright lost that case with a bang in 2020.

BitBoy himself is viewed predominantly negatively in the cryptocurrency industry. It often publishes videos of new projects that end up collapsing and losing much of their own value, ending in losses for subscribers.

As an example, we can recall his mid-April 2021 tweet that “Bitcoin will never go below $47,000”. As we know, this statement was proven wrong just one month later. Yes, and the current BTC exchange rate is almost twice as low as the clarified mark.

BitBoy’s tweet about how Bitcoin will allegedly never fall below $47 thousand

But because BitBoy has a fairly large audience, his "predictions" are affecting newcomers who are losing money. At the same time, for some reason Ben himself does not stop broadcasting, despite the huge number of errors in his statements.

Is Armstrong making money from this? Yes. As we found out thanks to BitBoy’s leaked price list, a full review of a crypto project on his channel costs $35,000, while an article on his website will cost $2,500. In other words, you can promote almost anything with the help of a video blogger – although, again, this is fraught with losses for the audience.

BitBoy’s price of services

What insults get sued for

All federal lawsuits in the US are public by the rules of the court system. Armstrong’s lawsuit is classified as a federal case because it claims more than $75,000 in adverse consequences and damages for the plaintiff as moral damages. In addition, Armstrong and Mengshoel live in different states. Armstrong’s lawyer filed a complaint asking for a jury as early as August 12 in the US District Court for the Northern District of Georgia in Atlanta.

BitBoy Crypto

BitBoy Crypto shared some details about the lawsuit in a 16-minute intro to another daily stream.

I guess I didn’t realise that my name was so popular now that if I filed a lawsuit it would be found and made public. Obviously, had I known that the lawsuit would become public, I wouldn’t have done it.

Such a statement seems strange. What is the problem with making the lawsuit public for someone who would really want to defend his honour is unknown. In this case, however, BitBoy has faced criticism from the cryptocurrency community, which on top of that has taken to raising money to defend himself in court.

Ben Armstrong is really popular – he has more than 1.44 million subscribers on YouTube and about 883,000 people on Twitter. BitBoy Crypto has achieved such success through its strategy of distributing content about crypto, advertising various “high-yield” crypto projects and attracting users through affiliate links.

But back to Armstrong’s own statements. During the stream, he revealed a few more details about what’s going on. According to Decrypt’s sources, it turns out there will be no trial. The plaintiff has stated that he will not be taking the case forward, as Atozy has managed to gather a huge number of like-minded people around him and has received serious support.

We will definitely not pursue the lawsuit. I’m sorry this has all become a public story and someone might have misunderstood me. This is not just a domestic case. When someone insinuates that you might have a problem with the SEC, it’s not frivolity, it’s a very, very big, serious matter.

Below you can see the very video that caused the lawsuit. In brief: in it, Atozy accuses BitBoy Crypto of deceiving its own subscribers. Armstrong allegedly promotes knowingly failed cryptoprojects and does not disclose all the details of his affiliate programs.

By the way, Armstrong does promote “rubbish”. Earlier this year, crypto-enthusiast ZachXBT tweeted a screenshot of a selection of coins promoted in BitBoy’s video as “gems”, i.e. projects with 100x growth potential. As you can see from the yield graph, the investment brought Armstrong’s subscribers a huge minus to their deposit. And this data was published before the major collapse of the coin market in the spring of 2022.

Returns on advertised BitBoy Crypto projects

Therefore, the attitude towards BitBoy in the cryptocurrency community is predominantly negative. After all, it also has a hand in getting novice investors to get involved with blatantly dubious projects and lose money.

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Initially, in response to Armstrong’s lawsuit, Mengshoel published a video titled “I’m being sued”. He spoke about the dispute and noted that when he received a cease and desist notice from Armstrong back in December, he was very surprised and even panicked. Such a significant escalation is a big headache for a crypto-enthusiast, but he is ready to fight.

I will stand up for my interests because I don’t believe people should be able to just throw money at lawyers to make their dubious activities a thing of the past. No one should get bonuses from scandalous lawsuits. I think it’s crazy that I’m being sued for expressing my own opinions. Imagine how “thin-skinned” you have to be to do that.

According to Mengshoel’s statement, he is facing legal fees of between $50,000 and $500,000. He posted a link to a GoFundMe fundraising campaign, as well as Bitcoin and Etherium donation addresses.

Atozy’s campaign on GoFundMe

Thank you guys so much for your support, because I really need it at the moment and it’s been hard – this whole situation is unlike anything I’ve ever dealt with. If there are any funds left over, I will donate them to various charities because I have no intention of profiting from collecting money from you guys.

In response to Mengshoel’s request for help on Twitter, popular crypto-enthusiast Jordan Fish, also known as Cobie, donated $100,000 to USDC.

Cobie’s donation in support of Atozy

Eventually, the total amount of funds raised in support of Atozy reached the $200,000 mark. Based on this fact, BitBoy decided not to proceed with the proceedings and claimed that he is allegedly now the industry’s most misunderstood Influencer.

At first, Armstrong demanded that the video simply be removed, as he was allegedly trying to "protect his reputation" against unsubstantiated allegations of fraud. But his content is indeed very mediocre, moreover, for novice investors the BitBoy Crypto videos could bring losses and disappointment to the industry. Atozy, however, has promised that as soon as it receives confirmation of the official withdrawal of the lawsuit, all funds raised to support it will be sent back to the senders.

Now it has been revealed that the lawsuit has been withdrawn. Apparently, the prospects of such a lawsuit for BitBoy don’t seem bright given the current availability of funds from the defence. Therefore, during the stream, he stated that “Atozy won”.


We believe that such a story clearly demonstrates the unity of the cryptocurrency community. At one time, representatives of the coin industry were able to stand up for Hodlonaut, now they have helped stand up to the author of the dubious videos. Obviously, this will continue, which means the crypto niche will be able to grow without the risk of litigation from its strange representatives.


Stay tuned for more developments in our millionaires’ crypto-chat. We’ll discuss other important news from the blockchain world there as well.

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