Wednesday, October 5, 2022

BitBoy Loses Lawsuit Against Fellow YouTuber Atozy 

YouTuber and crypto influencer Ben Armstrong, virtually recognized as BitBoy Crypto, has lost his lawsuit against fellow YouTube, Atozy. As reported by Coindesk, he lost the lawsuit almost immediately after he filed for it, making it obvious that his move has blown up in his face.

Erling Mengshoel, a YouTuber who has the alias Atozy, released a video in November last year. The video incriminating crypto influencer BitBoy was titled “This Youtuber Scams His Fans … Bitboy Crypto”. In the video, Atozy related BitBoy’s statement about the native digital currency of Pamp Network, PAMP. Armstrong had publicly vouched for PAMP as a reliable and credible coin.

Particularly, BitBoy declared that the price of digital assets will continue to skyrocket. Meanwhile, PAMP’s price plummeted to $0 just after Armstrong’s endorsement and promotion.

Therefore, in all of Atozy’s videos, he did not fail to tag Armstrong as a ‘dirtbag’. He also promised to expose the crypto influencer’s schemes.

BitBoy Lawsuit Request For $75,000 in Restitution

Accordingly, Ben Armstrong filed a lawsuit with the United States District Court for the Northern District of Georgia in Atlanta. He claimed that Mengshoel was only trying to defame his character.

In his defense, Armstrong argued that he had spent more than $75,000 in damages and is asking for the same as restitution. He mentioned that the videos released by Atozy had caused lots of harm to his emotional state and his business.

Consequently, Mengshoel resorted to crowdfunding to cover the cost of defending himself in the lawsuit. Most compelling is that Atozy is not the first person to call out the activities of Armstrong. Formerly, he was accused of possessing heinous and inconsistent characters.

So far, it has been gathered that Armstrong is not good at evaluating and influencing crypto which he has been getting involved in. 

Crypto promotion and influence either by brands or celebrities most times, do not expose customers to the risk and insecurities in the industry. India’s advertisement regulator, the Advertising Standards Council of India (ASCI) has designed guidelines to streamline the promotion of digital assets.

Also, affected Yuga Labs investors filed a lawsuit against the Bored Ape Yacht Club (BAYC) Non-fungible token (NFT). Their grievance was that they were controlled to invest in the BAYC due to celebrity influence and promotions.

Victoria Nye
A Blockchain columnist who is enthusiastic about developing a network interface between the real world and the cryptosphere.

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