In the latest alarming crypto kidnapping case, John Victor Woeltz was apprehended on May 23. He is accused of abducting an unnamed Italian man in New York, torturing him for weeks to access his Bitcoin holdings.
Woeltz, alongside another unidentified person, allegedly kept the tourist confined for two weeks in a Manhattan residence until he managed to break free and notify the authorities.
🇺🇸CRYPTO INVESTOR TURNED TORTURE KINGPIN IN NYC HORROR PAD
A Kentucky crypto enthusiast reportedly transformed a $40K/month SoHo rental into a torture site, extorting millions from an Italian visitor.
— Mario Nawfal (@MarioNawfal) May 24, 2025
John Victor Woeltz Arrested On The Same Day The Crypto Kidnapping Victim Managed To Escape
Woeltz, 37, was taken into custody the day the victim escaped. He faces charges, including second-degree assault, kidnapping, and unlawful imprisonment, according to court documents. Investigators are still on the hunt for the third person involved in this alleged crime.
Italian Man Allegedly Held And Tortured For 17 Days For Bitcoin Password, But Did Not Break
Starting from May 6, the victim, a 28-year-old Italian, was introduced to Woeltz, who then allegedly kidnapped him and forced him to surrender his electronic devices and passport. He endured severe abuse to extract his
Bitcoin account details over a harrowing 17 days.
During his captivity, the victim was threatened with a gun, electrocuted, and physically assaulted. Woeltz’s tactics escalated to the point where he reportedly urinated on the victim and placed an Apple AirTag around his neck.
There Is Little Information On What Spurred The Business Relationship To Turn So Violent Amid a Spate Of Crypto Kidnapping Cases
Investigators are puzzled as to the motivation behind the kidnapping, especially as sources describe Woeltz as a well-off crypto trader with a net worth exceeding $100 million. In contrast, the victim reportedly has a net worth of about $30 million. This relationship, once business-focused, revealed a dark turn when negotiation failed.
In recent months, numerous crypto-related kidnappings have surfaced, raising concerns across the world. Earlier incidents included the ransom of a crypto wallet firm’s founder and several kidnapping attempts directed at crypto executives in France.
