New York man arrested for torturing victim over crypto access

A cryptocurrency investor has been arrested on charges of kidnapping and torture after holding a man captive for several weeks in a luxury Manhattan townhouse in an attempt to extract access to his Bitcoin wallet. 

John Woeltz, 37, was arrested on May 23 evening after the victim, a 28-year-old man visiting from Italy, managed to escape the residence and flagged down a traffic officer for help, Caliber.Az reports via foreign media.

Authorities say the victim was abducted on May 6 and held in an eight-bedroom townhouse where he was bound, drugged, shocked with electric wires, and beaten. At one point, he was allegedly dangled over a staircase and threatened with death unless he revealed his cryptocurrency password.

Woeltz was arraigned on May 24 on multiple charges, including kidnapping, assault, unlawful imprisonment, and illegal possession of a firearm. He is being held without bail and was ordered to surrender his passport. Prosecutors argued he poses a flight risk, citing his access to a private jet and helicopter. His defense attorney, Wayne Gosnell, declined to comment. The victim reportedly tricked his captors by claiming the password was stored on his laptop in another room. When one suspect turned away, he fled the apartment and alerted police. 

A subsequent search of the residence uncovered a cache of evidence, including cocaine, a saw, chicken wire, night vision goggles, body armor, ammunition, and Polaroid photographs showing the victim with a firearm pointed at his head. Authorities believe additional individuals were involved in the scheme, including at least one unidentified male. Woeltz is scheduled to appear in Manhattan criminal court next week as the investigation continues.

By Naila Huseynova