Kevin O’Leary — the “Mr. Wonderful” investor familiar to millions from Shark Tank — has won a roughly $2.8 million default judgment against crypto influencer Ben “BitBoy” Armstrong after a U.S. federal court entered judgment when Armstrong failed to respond to a defamation suit. What happened O’Leary sued over social-media posts made in March of last year that falsely accused him of involvement in a 2019 boating accident that resulted in fatalities and alleged a cover-up. O’Leary has never been charged in connection with the incident, and related parties were later cleared at trial. The lawsuit argued the posts crossed from protected opinion into false factual assertions that damaged O’Leary’s reputation and caused emotional distress. How the court ruled Because Armstrong did not appear or meaningfully answer the complaint, the U.S. District Court for the Southern District of Florida — before Judge Beth Bloom — treated the claims as conceded and entered a default judgment. The court awarded about $2.8 million in combined damages: roughly $78,000 for reputational injury, $750,000 for emotional distress and $2,000,000 in punitive damages. Why it matters to crypto audiences Armstrong runs BitBoy Crypto, a high-profile YouTube and social-media channel that reaches thousands of crypto fans and investors. While the dispute itself isn’t about cryptocurrency, the ruling is a cautionary moment for the crypto influencer ecosystem: amplified, unverified allegations can trigger significant legal and financial exposure. The decision underscores the importance of fact-checking and caution when making potentially defamatory claims online. Court documents and filings were handled in the Southern District of Florida. (Featured image: Getty Images; chart: TradingView.) Read more AI-generated news on: undefined/news

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