Like some crypto influencers who promote crypto projects, they get to be blamed when someone spends to invest in projects they shill. BitBoy (Ben Armstrong) shares the same situation with him and I think more influencers will end up getting fighting legal action.
On Bitboy, he filed a lawsuit against another influencer on social media. According to this article, it might be safer for Bitboy to avoid filing the lawsuit because filing it might bring more attention to him and what he is doing in those videos which much of them are about hyping a token on his followers and as speculated by some people, dump on them. This will certainly be news to follow, however hehehe. It will be another comedy show and similar to what @Kakmakr said, what Bitboy did might be blamed on the whole cryptospace community again.
BitBoy Lost His Lawsuit the Instant He Filed It
The YouTube cryptocurrency promoter is only drawing more attention to the pump- and dump-filled oeuvre he'd rather suppress.
On Aug. 12, crypto influencer Ben Armstrong, aka “BitBoy Crypto,” filed a lawsuit against YouTuber Erling Mengshoel Jr., aka Atozy. In the suit BitBoy claims that Atozy’s November 2021 video titled “This Youtuber Scams His Fans … Bitboy Crypto” caused him harm, including damage to his business and “infliction of emotional distress.” BitBoy, who had been widely accused of unethical and irresponsible behavior long before Atozy’s video, seeks $75,000 in restitution.
This was, unambiguously, an extremely ill-advised move, and it is blowing up in BitBoy’s face in a truly poetic manner.
Coverage of the lawsuit, almost all of it relentlessly negative towards BitBoy, has had far wider reach than Atozy’s original video. BitBoy is reaping the fallout of what’s become known as “the Streisand Effect,” when attempts to hide or suppress information have the opposite impact.
In this case, the information BitBoy would like to suppress is that he’s really terrible at his purported “job” of evaluating cryptocurrency projects for his YouTube followers. Atozy’s original video was focused on BitBoy’s promotion of Pamp Network, whose crypto, PAMP, would supposedly “only go up in price,” yet somehow dropped to zero soon after BitBoy’s endorsement. Crypto sleuth ZachXBT found back in January that a huge proportion of BitBoy-endorsed projects had lost immense value even before the current bear market downturn, quite likely costing his viewers serious amounts of money.
But that’s not just because BitBoy is bad at picking cryptos. He’s also deeply unethical, and quite possibly an outright criminal. ZachXBT revealed in January that many of BitBoy’s videos were not neutral evaluations of tokens, but undisclosed promotions paid for by the token creators themselves. This kind of “touting” is considered a form of fraud, and the U.S. Securities and Exchange Commission (SEC) has regularly pursued violators under securities law. (BitBoy has since claimed he now discloses all paid promotions.)
Source https://www.coindesk.com/layer2/2022/08/24/bitboy-lost-his-lawsuit-the-instant-he-filed-it/
