Crypto Investor Arrested For Kidnapping, Torture Over Bitcoin In NYC

John Woeltz, a 37-year-old cryptocurrency investor, was arrested in New York City for allegedly kidnapping and torturing a 28-year-old Italian man over access to his Bitcoin wallet. The victim was held captive in a luxury SoHo townhouse for more than two weeks, during which he was subjected to electric shocks, beatings, pistol-whipping, and even a chainsaw attack, while being forced to reveal his Bitcoin password. Woeltz's accomplice, a 24-year-old woman, was also arrested but the Manhattan District Attorney's Office has yet to prosecute her pending further investigation. Authorities recovered cocaine, weapons, and Polaroid photos documenting the abuse from the scene, and the victim managed to escape by convincing Woeltz he would comply, then sought help from a police officer. Woeltz was arraigned on multiple serious charges including kidnapping, assault, unlawful imprisonment, and criminal possession of a firearm, denied bail due to being deemed a flight risk, and ordered to surrender his passport. This case highlights a disturbing trend of violent crimes targeting cryptocurrency holders as the value of digital assets increases.