Kidnappers Apprehended in Brutal Bitcoin Extortion Plot
Two individuals have been arrested and charged in New York City for the alleged kidnapping and torture of an Italian tourist over a period of 17 days. The victim was held in a luxury townhouse, subjected to severe abuse, including being hung from a roof ledge, shocked with electrical wires, and threatened with a chainsaw, all in an attempt to force him to hand over access to his multi-million dollar Bitcoin wallet. Authorities discovered evidence of the assaults, along with firearms and narcotics, at the scene.
"Wrench Attacks" on the Rise
Security analysts are highlighting this case as a prime example of a concerning shift in crypto-related crime. Rather than solely relying on digital hacking, criminals are increasingly resorting to "wrench attacks" – real-world, physical coercion and violence to extort cryptocurrency wallet credentials from investors. The FBI reports that a growing portion of the $9.3 billion in crypto losses in the US last year is linked to kidnappings and home invasions. This trend is not isolated to the US, as evidenced by recent arrests in France involving similar schemes targeting crypto entrepreneurs.
Alleged Perpetrators: A "Crypto King" and His Partner
The arrested individuals are identified as William Duplessie, 32, and his business partner, a self-proclaimed "crypto king" from Kentucky named Woeltz. They are believed to have targeted wealthy investors through various blockchain start-ups. Prosecutors have denied bail, citing their alleged offshore assets and Swiss business ties as reasons for them being flight risks.
