Kevin O’Leary Awarded $2.8 Million in Defamation Case Against Ben ‘BitBoy’ Armstrong

A federal judge in Florida has awarded $2.8 million in damages to Kevin O’Leary in a defamation lawsuit against crypto influencer Ben Armstrong, widely known as “BitBoy.”

The ruling followed Armstrong’s failure to mount a substantive legal defense, resulting in a default judgment on multiple counts of defamation per se. The damages include approximately $78,000 for reputational harm, $750,000 for emotional distress and $2 million in punitive damages.

False Allegations Tied to 2019 Boating Accident

The case stems from social media posts published in March 2025 in which Armstrong accused O’Leary and his wife of murder related to a fatal 2019 boating accident in Ontario. Two individuals died in the incident, but O’Leary was a passenger and never charged. His wife was charged with careless operation of a vessel and later acquitted after trial.

One post reportedly shared O’Leary’s private phone number alongside inflammatory claims, amplifying the controversy.

The defamation judgment adds to Armstrong’s mounting legal issues, including prior arrests and regulatory scrutiny tied to crypto promotions. While the award is substantial, questions remain about collectability amid reports of financial distress.

Disclaimer

This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.