Two Men Plead Not Guilty to Kidnapping and Torturing Friend for Bitcoin Password
NEW YORK, June 11, 2025 – In a shocking case highlighting the darker side of cryptocurrency motivations, two men pleaded not guilty today to charges involving the kidnapping and torture of a friend, as part of an alleged attempt to extract his Bitcoin password. The defendants, John Woeltz, 37, and William Duplessie, 33, appeared in Manhattan Criminal Court before Justice Gregory Carro, who denied their request for bail.
Allegations of Severe Brutality
Prosecutors allege that the incident began on May 6, when the accused men forcibly took the unnamed victim to a townhouse located in the upscale SoHo neighborhood of Manhattan. Over the course of three weeks, they allegedly subjected him to extreme violence, including physical assaults with sophisticated tools. According to Prosecutor Sarah Khan, the pair pistol-whipped the victim, used a small chainsaw to inflict cuts, and even set him on fire using tequila as an accelerant.
Khan stated, "They urinated on the alleged victim to put out fires on his body that they set after dousing him with tequila." Authorities found evidence to support these claims during a search of the townhouse, including a chainsaw, a loaded pistol, and a photograph showing Duplessie pointing a gun at the victim. The harrowing ordeal ended when the victim escaped, barefoot and bleeding, and approached a police officer for help.
Defense Disputes Prosecution Claims
The defense team vehemently disputes the prosecution’s portrayal of events. Duplessie’s attorney, Sam Talkin, argued that the victim was not confined against his will, suggesting he had the freedom to leave when he pleased. He claimed the alleged victim was "having the time of his life" and even participated in a "sex orgy" during his stay. Woeltz’s lawyer, Wayne Gosnell, further supported this narrative, stating that the victim frequently left the townhouse to attend church and social gatherings, thus presenting opportunities to seek help.
Context: Rising Cryptocurrency Kidnappings
This case comes amid a troubling trend of kidnapping incidents associated with cryptocurrency investments. Security experts note that the increasing value of Bitcoin and other cryptocurrencies has led to a new class of affluent investors, making them attractive targets for criminal schemes. The rise in cryptocurrency-linked crimes has been observed globally, with reports of similar kidnapping attempts occurring in France earlier this year.
Legal Proceedings Moving Forward
Both Woeltz and Duplessie have been in custody since their arrests last month on multiple charges, including kidnapping and related offenses that could lead to life sentences if they are convicted. Judge Carro ordered that they remain detained without bail at least until their next hearing, scheduled for July 15. As the legal proceedings continue, the case raises serious concerns over the safety of individuals involved in the volatile world of cryptocurrency.
This situation underscores the urgent need for increased awareness and safety measures for investors navigating this emerging financial landscape. The outcome of this case may have broader implications within the cryptocurrency community and could lead to heightened scrutiny of security practices among those engaged in digital asset trading.
Reporting by Luc Cohen in New York; Editing by Will Dunham and Noeleen Walder.