Crypto Investor Accused of Brutal Kidnapping for Wallet Passwords — Shocking Case Rocks Manhattan
Binance Square | Security Watch | May 2025
A crypto crime of chilling proportions has rocked New York City. John Woeltz (37), a Kentucky-based crypto investor, was arrested this week in Manhattan, accused of kidnapping, torturing, and attempting to extort crypto wallet credentials from an Italian tourist in a case that authorities are calling one of the most disturbing crypto-related crimes in recent memory.
The Setup
The alleged victim, a 28-year-old Italian man, had traveled to New York and met up with Woeltz, a former acquaintance. What was expected to be a friendly meetup turned into a nightmarish ordeal beginning May 6 in a luxury apartment on Prince Street, rented for an estimated $30,000–$40,000 per month.
Inside the “Torture Chamber”
According to NYPD reports, the victim was restrained using electric cords, beaten, and even threatened with a chainsaw. Shocking details reveal tasering in water, forced drug intake, and whip with a pistol. The apartment had blood-stained floors, and disturbing Polaroid photos were found documenting the abuse.
Crypto Motive
Authorities confirm the motive: digital extortion. Woeltz and his alleged accomplices were attempting to extract crypto wallet passwords, aiming to steal a multi-million-dollar digital fortune.
The Escape
The victim had been secretly tracked via Apple AirTag, and on May 17, fearing he would be killed, he managed a daring escape and reached a local NYPD station—triggering a full-scale manhunt.
Arrests and Investigation
• John Woeltz is now in custody, charged with kidnapping, assault, unlawful imprisonment, and weapons possession.
• Beatrice Folchi (24) has also been arrested.
• Two more suspects are under investigation.
Community Shock
Residents of the Prince Street neighborhood described the arrest as “surreal,” recalling Woeltz being taken out in a robe. Several mentioned the presence of “crypto guys” frequently entering the building, but no one imagined this.
