Suspect in NYC Cryptocurrency Kidnapping and Torture Case Allegedly Involved Assistant, Prosecutors Say
New York, July 24, 2025 — Authorities allege that one of the suspects in the high-profile New York City cryptocurrency kidnapping and torture case involved his assistant in monitoring the victim, according to prosecutors with the Manhattan District Attorney’s office.
John Woeltz, together with co-defendant William Duplessie, faces multiple charges including kidnapping, assault, and coercion. Both men were recently granted $1 million bail by Judge Gregory Carro, a decision that came despite objections from prosecutors. The two have been held in custody since their arrest in May but must now comply with strict bail conditions including surrendering their passports, submitting to electronic monitoring, and remaining under home confinement.
Assistant Allegedly Involved in Surveillance
Court disclosures revealed that Woeltz communicated with an assistant to keep watch over the alleged victim, an Italian cryptocurrency holder. Prosecutors said Woeltz instructed the assistant to monitor the victim whenever he used his phone. When concerns arose that the victim might have escaped through an open door, a second assistant reassured others with a message stating, “Don’t worry I’m watching him.”
Grim Details of the Alleged Torture
Prosecutors described harrowing details about the conditions the victim endured. Messages recovered indicate that Woeltz and Duplessie forced the victim to consume drugs and continued using drugs themselves to maintain control. Communications painted a bleak picture of the victim as “broken” and “sobbing,” with “no more life in his eyes.”
Physical evidence at the SoHo townhouse included a loaded firearm, chainsaw, cattle prod, hacksaws, buckets, tarps, and goggles. Prosecutors said these items suggested the defendants planned to harm or dispose of the victim’s body. The men reportedly poured tequila on the victim and set him on fire, intensifying the cruelty.
Context of the Crime
The accused allegedly lured the victim to New York by threatening his family and telling him they were connected with the government. They warned that failure to cooperate would result in him being labeled a terrorist. The victim arrived on May 6, 2025, and was held for over two weeks inside Woeltz’s upscale eight-bedroom SoHo townhouse while being tortured for access to his Bitcoin password.
The victim escaped on May 23 by running to a traffic enforcement officer for assistance, leading to the arrests of Woeltz and Duplessie.
Legal Proceedings and Defense Statements
At a recent hearing, both defendants pleaded not guilty to a dozen charges. Their lawyers argued the victim was not held against his will, citing video footage that showed the man apparently “having the time of his life” at various points—a claim met by prosecutors emphasizing that victims of abuse do not always behave as expected.
Prosecutor Sarah Kahn also noted ongoing communications with unnamed law enforcement agencies indicating that Woeltz and Duplessie may have tortured others previously.
Background on Suspects
Woeltz is sometimes referred to as the “crypto king of Kentucky,” with authorities uncovering writings during a search of a Kentucky property linked to him that suggested plans to hold people for cryptocurrency ransom. Duplessie has previous investigations for domestic violence in Switzerland. Woeltz also faces prior accusations related to similar crimes in Kentucky.
The case continues to develop as prosecutors and defense teams prepare for trial, with the community watching closely due to the involvement of cryptocurrency and allegations of extreme violence in a posh Manhattan setting.
Reporting by Aaron Katersky, ABC News.