U.S. District Judge Beth Bloom of the Southern District of Florida has entered a default judgment ordering crypto influencer Ben Armstrong, known as "BitBoy Crypto," to pay businessman and investor Kevin O'Leary $2.8 million in a defamation lawsuit. The judgment, issued on February 13, 2026, came after Armstrong failed to mount a legal defense or appear in court.
The lawsuit, filed in March 2025, centered on a series of false and inflammatory accusations Armstrong made on social media platforms X and LinkedIn. Armstrong publicly accused O'Leary and his wife, Linda, of being "murderers" who paid to conceal responsibility for a 2019 boating accident in Ontario that resulted in two fatalities. In reality, O'Leary was a passenger and was never charged; his wife was acquitted of all charges in 2021.
The damages awarded total $2,828,000, broken down as $2,000,000 in punitive damages, $750,000 for emotional distress and mental anguish, and $78,000 for reputational harm. The court stated the punitive portion reflected the need to deter such conduct, noting Armstrong's actions were witnessed by many and warranted significant punishment. Armstrong also published O'Leary's private cellphone number, urging followers to harass him, which led to nearly $200,000 in additional security costs for O'Leary.
In early 2026, Armstrong sought to vacate the default judgment, citing mental health challenges including a bipolar diagnosis and a period of incarceration. Judge Bloom rejected the motion, noting Armstrong had been properly served and waited nearly a year before attempting to challenge the ruling.
While a legal victory for O'Leary, collecting the full amount may prove difficult. Reports from late 2025 suggested Armstrong was close to insolvency, with his crypto wallets largely depleted. A related entity, Armstrong Bridging International Ltd, entered voluntary liquidation in September 2025. Armstrong's legal troubles extend beyond this case, including a 2025 fugitive warrant, harassment charges, and a $340,000 settlement with NBA player Jimmy Butler over claims tied to promoting unregistered securities for Binance.
O'Leary himself remains involved in litigation related to the collapse of FTX, though a judge dismissed most claims against him and other celebrity endorsers in May 2025. He has stated he lost the entire $15.7 million he received from FTX.
