Suspects in NYC Crypto Kidnapping and Torture Case Granted Bail
By Aaron Katersky, ABC News — July 23, 2025
A Manhattan judge has ordered the release on bail of two men charged with kidnapping and torturing a man in a luxury SoHo townhouse in an effort to obtain his cryptocurrency. Despite objections from the Manhattan district attorney’s office, Judge Gregory Carro set bail at $1 million each for John Woeltz and William Duplessie. Both defendants have pleaded not guilty to multiple charges related to the case.
Background of the Case
John Woeltz and William Duplessie were arrested in May following allegations that they held an Italian man against his will for several weeks in a high-end townhouse in Manhattan’s SoHo neighborhood. The alleged victim is an Italian cryptocurrency investor who has not been publicly named in the indictment.
The indictment accuses Woeltz and Duplessie of torturing the man using brutal methods, including assault with a chainsaw, pistol, and cattle prod. Prosecutors allege they also poured tequila on the victim and set him on fire. The torture was reportedly aimed at coercing the victim into revealing the password to his Bitcoin wallet.
Prosecutors claim the suspects lured the victim to New York under false pretenses and allegedly threatened his family to force compliance.
Court Proceedings and Bail Conditions
Judge Carro’s decision to grant bail came after reviewing the case details and noting discrepancies between the prosecution and defense narratives. The judge cited concerns over credibility and lack of sufficient corroborating evidence but allowed bail pending further review.
Both defendants must meet strict conditions as part of their release. They are required to surrender their passports, submit to electronic monitoring, and remain under home confinement.
Woeltz and Duplessie have been held in custody since their arrest. They were arraigned last month on charges including kidnapping, assault, and coercion, to which they both pleaded not guilty.
Defense and Prosecution Arguments
During the arraignment, the defense challenged the torture allegations by presenting video evidence showing the alleged victim appearing to be enjoying himself and participating in social activities, which they argued was inconsistent with someone being held captive and tortured.
However, Assistant District Attorney Sarah Kahn countered these claims, stating, "Victims of abuse are not always going to act in a way that we expect people to do."
Additionally, prosecutors revealed they have been in contact with other law enforcement agencies who have indicated that Woeltz and Duplessie may have been involved in similar torture cases in the past.
At Wednesday’s hearing, prosecutors also referenced a recent law enforcement search at a property in Kentucky connected to Woeltz, who has been nicknamed the “crypto king of Kentucky.” During this search, authorities found written materials suggesting Woeltz had contemplated holding individuals captive to steal their cryptocurrency.
Incident Timeline
According to the complaint, the alleged victim arrived in New York on May 6 and went directly to Woeltz’s eight-bedroom townhouse. He was reportedly held and tortured inside the residence for more than two weeks.
Police say the victim managed to escape on May 23, fleeing to a traffic enforcement officer who helped him. Following the escape, Woeltz and Duplessie were quickly arrested.
Ongoing Investigation
The case is an ongoing story with authorities continuing to investigate the full extent of the crimes and any possible connections to other incidents. Both suspects remain free on bail under strict conditions as the legal process moves forward.
ABC News will provide updates as more information becomes available.
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