New York, June 11, 2025 — Two men accused of a disturbing crypto-related crime in New York have pleaded not guilty to charges of kidnapping, assault, and torture. The suspects, both self-proclaimed crypto investors, are alleged to have kidnapped an Italian Bitcoin trader in an attempt to force him to reveal the password to his digital wallet.$BTC

According to prosecutors, the suspects detained the victim in a private location where they subjected him to extreme physical abuse, including being set on fire. The goal, investigators claim, was to access what they believed was a multimillion-dollar Bitcoin fortune. In a shocking twist, authorities also discovered two additional victims held at separate locations, tied to the same crypto extortion scheme.$BNB

Law enforcement described the case as one of the most violent and sophisticated crypto-related crimes seen in recent years. The suspects were apprehended following a multi-agency investigation involving digital forensics and international cooperation.$ETH

Both men have denied the charges and remain in custody as the case proceeds. Legal experts say the incident underscores the darker side of cryptocurrency's growing influence—highlighting the urgent need for stronger regulatory oversight and protective mechanisms in the digital finance sector.