O’Leary wins $2.8M lawsuit against BitBoy over murder accusations

A federal court in the Southern District of Florida has entered a default judgment in Kevin O’Leary’s defamation case against Ben Armstrong, known as BitBoy. Judge Beth Bloom awarded O’Leary $2.8 million in damages, including reputational harm, emotional distress, and $2 million in punitive damages. Armstrong did not present a defense, leading the court to rule automatically in O’Leary’s favor.

The lawsuit stemmed from Armstrong’s posts on X in March 2025, where he accused O’Leary and his wife of “murder” and attempting to conceal their role in a 2019 boat collision in Ontario. The crash killed two people; O’Leary was on board but was not charged, and his wife was fully acquitted in court. Armstrong also posted O’Leary’s personal phone number and urged followers to “call the real killer,” which resulted in a temporary ban of his account.

Armstrong attempted to overturn the default judgment in January 2026, citing mental-health issues and time spent in custody. The court denied the motion, stating that Armstrong had been properly notified and remained inactive for nearly a year.

The ruling adds to a string of crises surrounding BitBoy. After his inflammatory posts in 2025, he was arrested in several cases, including for threatening a judge and engaging in harassment. He was previously removed from the BitBoy Crypto brand for “recurring substance-abuse issues” and made headlines after attempting to forcefully repossess a Lamborghini from a former partner. Given reports that he was nearly insolvent by late 2025, the likelihood of recovering the awarded amount remains uncertain.

Despite winning the case, O’Leary has faced his own reputational fallout in the crypto industry. He received $15.7 million for promoting FTX shortly before its collapse and later called the deal a “bad investment.” Still, the verdict marks a rare legal victory for him amid ongoing debates over the influence of public figures in shaping narratives across the crypto ecosystem.