Second Man Indicted in Violent New York Kidnapping Crypto Case
By Luc Cohen
May 30, 2025 — In a shocking case that highlights the extreme lengths to which criminals may go to acquire cryptocurrency, a second man has been indicted in connection with a violent kidnapping that took place in Manhattan’s upscale SoHo neighborhood. The suspect, William Duplessie, 33, is accused of being involved in a three-week ordeal where a man was held captive and tortured while demands were made for access to his bitcoin account.
Duplessie’s indictment followed a brief court appearance today and comes just three days after his arrest. He joins John Woeltz, 37, who was indicted on Thursday for the same charges related to the harrowing incident. Both men are scheduled to return to court on June 11. According to prosecutors from the Manhattan District Attorney’s office, the alleged crime began on May 6, when Duplessie and Woeltz took control of the victim’s electronics and demanded that he reveal his bitcoin password. When the victim refused, prosecutors allege that Duplessie and Woeltz subjected him to a series of brutal beatings inside a luxury townhouse, utilizing violent methods, including shocking the victim with electric wires and dangling him over a staircase in an attempt to extract his password.
Court documents detail harrowing accounts of physical abuse, including allegations that the assailants bound the victim’s wrists, struck him with a gun, and threatened to kill his family if he did not comply with their demands. Reports indicate that both Woeltz and the alleged victim are connected to a cryptocurrency hedge fund in New York, raising questions about the circumstances surrounding the kidnapping.
The incident underscores a disturbing trend involving cryptocurrency-related crimes. Within the same year, law enforcement has reported three additional kidnapping attempts linked to cryptocurrency in France alone. Security experts note that the rapid rise in the value of bitcoin and other cryptocurrencies has attracted a new class of wealthy investors, making them prime targets for criminals seeking quick and substantial financial gain.
As the legal proceedings for both Duplessie and Woeltz progress, their attorneys have not publicly commented on the case, and neither suspect has yet entered a plea. The situation has garnered significant media attention, not only for its violent nature but also for the implications it holds for the growing intersection between crime and digital currencies.
For ongoing updates on this case and other developments in the world of cryptocurrency, stay tuned.
Reporting by Luc Cohen in New York; Editing by Noeleen Walder and Aurora Ellis
Share this article:
