According to ShibDaily, two men accused of kidnapping and torturing an Italian tourist over his Bitcoin have been released on $1 million bail each. The suspects, John Woeltz and William Duplessie, were granted bail by New York Supreme Criminal Court Judge Gregory Carro after pleading not guilty to charges of kidnapping, assault, and coercion. The case stems from an alleged extortion scheme in which the victim was reportedly abducted in May and held hostage in a Manhattan townhouse for several weeks.
During his captivity, the tourist endured physical abuse, including beatings, electric shocks, and pistol-whipping, as the kidnappers sought access to his Bitcoin assets. He was threatened with being thrown from a balcony and harm to his family. The victim managed to escape by persuading one of his captors to let him access his laptop, claiming it contained the password to his Bitcoin wallet. Seizing a brief moment alone, he fled the apartment and sought help from a nearby traffic officer. Woeltz was arrested at the scene, while Duplessie surrendered to authorities days later.
Despite being granted bail, the defendants are under strict supervision. They are required to wear electronic ankle monitors, surrender their passports, and check in with authorities every 72 hours. Defense attorneys have attempted to downplay the incident, describing it as a form of hazing and asserting that the victim willingly participated in "17 days of shenanigans" to access a particular lifestyle.
This case serves as a stark reminder to the crypto community about the offline threats that exist for holders of high-value tokens. As decentralized finance grows, the responsibility of self-custody becomes more critical. Shiba Inu holders are advised to prioritize security measures such as hardware wallets, two-factor authentication, and secure backups. With the expansion of the Shibarium ecosystem, high-profile SHIB holders may face increased visibility and potential risks. Staying safe involves being discreet, prepared, and understanding the importance of protecting one's digital assets.
