On May 25, New York police arrested 37-year-old cryptocurrency investor John Woeltz and a 24-year-old female accomplice in downtown Manhattan, both suspected of kidnapping and torturing an Italian tourist.
According to sources cited by the New York Post, Woeltz held the victim captive in a luxury apartment in SoHo for over two weeks, attempting to gain access to his financial accounts through violence, with amounts involved reaching millions of dollars. I seriously suspect this guy short-sold Bitcoin and got liquidated; if he had just held onto his spot, he would have been financially free long ago, so there was no need for kidnapping.
The police found recorded photos of the victim being abused at the scene, including a photo of the victim with a gun pointed at him. The victim was lured to the apartment on May 6 under the guise of a business transaction, and was subsequently kidnapped and abused. He stated that Woeltz planned to kill him during his escape.
John Woeltz is a 37-year-old cryptocurrency investor from Kentucky, known as the 'King of Kentucky Crypto.' The victim is a 28-year-old Italian man, and the two had previously conducted business together.
The incident was triggered by a dispute over cryptocurrency between the two. The victim arrived in New York from Italy on May 6, 2025, to meet Woeltz at his luxury townhouse in downtown Manhattan.
After the victim arrived at Woeltz's residence, Woeltz and his accomplices took away the victim's passport and electronic devices, bound him, and then imprisoned him inside the house.
Over the next three weeks, Woeltz and another man subjected the victim to a series of brutal violent acts, attempting to force the victim to give up the password to his Bitcoin wallet. Specific methods included hitting the victim on the head with a gun, electrocuting the victim with wires, hanging the victim outside a building, threatening to cut off the victim's limbs with a chainsaw, and even forcing the victim to take drugs.
Woeltz also threatened to kill the victim's family and left multiple photos of the victim being bound and tortured in the house, which were likely intended to extort ransom from the victim or his family in Italy.
Around 9:30 AM on May 23, the victim took the opportunity to escape from the villa and found a traffic enforcement officer to seek help and notify the police.
The police quickly arrived at Woeltz's residence and found bloodstains all over the house. They discovered a gun, multiple photos of the victim being bound and tortured, and some other tools used for torture. Woeltz was arrested on the spot and charged with multiple offenses.
John Woeltz is charged with kidnapping, unlawful imprisonment, second-degree assault, and multiple other offenses, and is being held without bail. Another suspect, Beatrice Folchi, was also arrested and charged with first-degree kidnapping and first-degree unlawful imprisonment. Additionally, there is another suspect who has not been captured.
The victim was taken to Bellevue Hospital for treatment, with multiple stab wounds, bruises, and ligature marks; his condition is currently stable.
So, people in the crypto circle need to be discreet when going out; even with acquaintances, one should be cautious, or they might be targeted for extortion. Wishing safety to everyone in the crypto circle~
