An American cryptocurrency investor is suspected of kidnapping an Italian businessman in New York and attempting to obtain his cryptocurrency account password.

According to news from HashChain, based on a report from The Block, the New York City police arrested two suspects accused of kidnapping and torturing an Italian tourist, who reportedly attempted to extort the tourist for his cryptocurrency account password. The Italian tourist escaped from a luxury apartment in SoHo and called the police, leading to the arrest of 37-year-old John Woeltz and a 24-year-old suspected female accomplice. According to reports cited by the New York Post from informed sources, the tourist visited the apartment on May 6 under the pretext of a business deal, only to be captured by John Woeltz, who beat and tortured him in an attempt to extort 'millions of dollars.' It is reported that police found multiple Polaroid photos of the victim being bound and tortured, as well as firearms, chainsaws, and other tools at the scene. The victim ultimately escaped and called the police on May 23. John Woeltz has been charged with first-degree kidnapping, unlawful imprisonment, assault, and illegal possession of weapons among other charges.