NYC Crypto Kidnapper Tortured Victim for Weeks Over Bitcoin Password #CriptoNews

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• John Woeltz, 37, was arrested in NYC for kidnapping and torturing a 28-year-old Italian man for weeks to access his Bitcoin wallet
• The victim escaped Friday after being held captive since May 6 in an upscale Manhattan townhouse where he was beaten, drugged, and electrocuted
• Woeltz was charged with kidnapping, assault, unlawful imprisonment, and weapons possession and is being held without bail
• Police found cocaine, a saw, chicken wire, night vision goggles, and photos of the victim with a gun to his head during the search
• This incident is part of a growing trend of violent “wrench attacks” targeting crypto holders, with 26 similar cases tracked in 2025

A cryptocurrency investor faces serious charges after allegedly kidnapping and torturing a man for weeks in an attempt to steal his Bitcoin. John Woeltz, 37, was arrested Friday night in Manhattan following the victim’s dramatic escape.

The 28-year-old Italian victim arrived in New York City in early May for what should have been a routine visit. On May 6, he was abducted and taken to an upscale eight-bedroom townhouse in Manhattan.

For weeks, prosecutors say Woeltz held the man captive in brutal conditions. The victim was bound at the wrists and subjected to prolonged torture as his captors demanded access to his Bitcoin wallet password.

Weeks of Torture and Abuse

The methods used were extreme and violent. Prosecutors revealed that the victim was drugged, beaten with firearms, and shocked with electric wires during his captivity.

In one particularly disturbing incident, the captors carried him to the top of a flight of stairs. They dangled him over a ledge and threatened to kill him if he refused to share his Bitcoin password.

The victim endured this treatment for nearly three weeks before managing to escape. His opportunity came when he agreed to retrieve his password from his laptop in another room.

When Woeltz turned his back, the victim ran from the apartment. He immediately flagged down a traffic officer on the street for help.

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Evidence Points to Larger Operation

Woeltz was not working alone according to prosecutors. Court records mention an “unapprehended male” co-conspirator who remains at large.

A search of the Manhattan townhouse revealed disturbing evidence. Police found cocaine, a saw, chicken wire, body armor, and night vision goggles throughout the property.

Growing Trend of Crypto Violence

This case represents part of a disturbing pattern of violence targeting cryptocurrency holders. Security experts have documented at least 26 physical crypto-related attacks in 2025 alone.

These so-called “wrench attacks” bypass digital security through physical coercion. Criminals target crypto holders directly rather than attempting to hack encrypted wallets.

Recent cases include an American tourist who lost $123,000 after being drugged by a fake Uber driver in London. In France, the daughter of a crypto executive was targeted in an attempted kidnapping alongside her child.

Woeltz appeared in Manhattan Criminal Court on Saturday for arraignment. He faces charges of kidnapping, assault, unlawful imprisonment, and criminal possession of a firearm.

The judge ordered him held without bail after prosecutors argued he posed a flight risk. They noted that Woeltz has access to a private jet and helicopter, giving him the means to flee the country.

The victim was hospitalized and treated for injuries consistent with prolonged captivity and assault. His current condition has not been disclosed by authorities.