Within the newest crypto kidnapping case, a person by the identify of John Victor Woeltz was arrested on Friday (Might 23), accused of kidnapping an unnamed Italian man in New York and torturing him for weeks to realize entry to the person’s Bitcoin.
Woeltz and one other unnamed particular person allegedly held the Italian vacationer hostage for 2 weeks inside a Manhattan house earlier than he managed to flee and alert the authorities.
CRYPTO INVESTOR TURNED TORTURE KINGPIN IN NYC HORROR PAD
A Kentucky crypto bro allegedly turned a $40K/month SoHo rental right into a full-blown torture chamber to extort hundreds of thousands from an Italian vacationer.
Police say John Woeltz sure the person for two weeks, electrocuted him,… pic.twitter.com/55pZIm3g3G
— Mario Nawfal (@MarioNawfal) Might 24, 2025
John Victor Woeltz Arrested On The Similar Day The Crypto Kidnapping Sufferer Managed To Escape
John Victor Woeltz, 37, was taken into custody on Friday (Might 23), the identical day the sufferer managed to flee from the property in Manhattan.
Woeltz was arraigned Saturday on one depend every of second-degree assault, kidnapping, illegal imprisonment, and legal possession of a firearm, per courtroom data.
Sources near the investigation have mentioned Woeltz, the vacationer, and an unnamed third particular person had been in enterprise collectively for years. Police are nonetheless trying to find the third enterprise associate, who has not been publicly recognized.
An legal professional for Woeltz declined to remark Saturday. A choose granted a request to carry Woeltz in custody throughout Saturday’s arraignment. His subsequent courtroom date is Wednesday.
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Italian Man Allegedly Held And Tortured For 17 Days For Bitcoin Password, However Did Not Break
(SOURCE)
The vacationer, a 28-year-old man visiting from Italy, met the accused kidnapper on Might 6, sources mentioned. On that very same date, Woeltz allegedly took the Italian man to a house he was renting in Nolita, an upmarket neighborhood in New York’s Manhattan district.
In line with a legal criticism filed in New York, Woeltz and an unidentified “unapprehended male” kidnapped the sufferer, took his digital units and passport, and tortured him till he managed to flee seventeen days later.
The pair had been making an attempt to get the sufferer handy over entry to his Bitcoin portfolio, and when he refused, they beat him, shocked him with electrical wires and hit him within the head with a gun.
Woeltz and the third enterprise associate allegedly aimed a gun on the sufferer’s head on a number of events, dangled him over a top-floor staircase, and threatened to kill him if he didn’t reveal his password.
Sources near the case have additionally claimed that the abductors urinated on the sufferer and put an Apple AirTag across the Italian’s neck to make sure he didn’t escape.
No particulars have been launched as of but concerning how the sufferer managed to flee on Friday. Nonetheless, upon escaping, the Italian ran right into a street visitors officer who referred to as police to the Nolita house, the place John Victor Woeltz was later arrested.
There Is Little Data On What Spurred The Enterprise Relationship To Flip So Violent Amid a Spate Of Crypto Kidnapping Instances
The following crypto-related kidnapping in Europe, this time in Paris, France
, had been three males tried kidnapping the daughter of a crypto platform’s CEO, luckily with out success! pic.twitter.com/l6mbcdit4q
— CR1337 (@cryptonator1337) Might 13, 2025
When digging into Woeltz’s background, the motive for the crypto kidnapping comes as a shock. Sources have mentioned that the alleged kidnapper is a distinguished crypto dealer from the state of Kentucky who’s estimated to be value north of $100 million.
However, the identical sources declare that the Italian sufferer has an estimated web value of round $30 million. As a result of trio’s supposed longstanding enterprise relationship, there may very well be a number of the reason why Woeltz and his confederate viciously tortured the sufferer for his Bitcoin password.
The sources mentioned Woeltz had reportedly been renting out the Prince Avenue residence at a month-to-month price of between $30,000 and $40,000. A web-based itemizing for the house says it was final rented in March for $75,000.
Whether or not a enterprise deal gone mistaken or simply pure greed, it comes sizzling on the heels of a spate of crypto-related kidnappings throughout France and elsewhere.
Earlier this 12 months, a co-founder of the crypto exhausting pockets agency, Ledger, was kidnapped alongside together with his spouse in an tried ransom case. David Balland had his finger reduce off in the course of the ordeal earlier than French particular forces carried out a profitable rescue operation which additionally noticed Balland’s spouse discovered and unhurt.
Then once more, just some weeks again, the daughter and granddaughter of a French crypto trade proprietor had been victims of an tried crypto kidnapping in broad daylight on the streets of Paris.
Fortunately, the daughter’s husband fought off the attackers earlier than members of the general public stepped in, and the criminals had been compelled to desert the plot.
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