Proceedings in NYC Crypto Kidnapping Case Delayed Over Legal Deadline
Manhattan, NY — May 28, 2025
The ongoing proceedings in a high-profile cryptocurrency kidnapping case were put on hold Wednesday at the Manhattan court due to a looming legal deadline connected to the arrest of the alleged suspect. The case is being closely monitored due to its shocking nature involving significant sums of cryptocurrency and allegations of extreme violence.
Legal Proceedings Adjourned
During the court session, Judge instructed prosecutors that they must submit a certificate of grand jury action by 10:28 a.m. Thursday in order for the case to move forward. The adjournment was spurred by a dispute regarding the exact timing of John Woeltz’s arrest and the prosecution’s ability to adhere to key legal deadlines. Prosecution officials are optimistic about meeting the scheduled timeline, promising to present necessary documentation for consideration at the next court appearance.
Allegations Detailed
John Woeltz, a 37-year-old cryptocurrency investor from Kentucky, faces multiple charges, including kidnapping, assault, and unlawful imprisonment. He, along with his alleged accomplice, William Duplessie, 33, is accused of torturing an Italian man to gain access to his Bitcoin wallet, valued at millions of dollars.
Authorities allege that the victim was forcibly held captive inside a SoHo apartment for approximately three weeks. Testimony from court documents reveals harrowing accounts of torture, including the use of electric shocks and physical mutilation. In a particularly brutal incident, the victim endured a leg injury inflicted with a saw and was compelled to smoke crack cocaine. Prosecutors further claim that during this period, the defendants threatened to kill the victim and his family if he did not relinquish his Bitcoin password stored on a laptop.
Victim’s Daring Escape
The victim managed to escape captivity last Friday, utilizing nearby resources to locate a traffic agent who assisted in contacting authorities. The situation has drawn considerable attention, highlighting the dangers surrounding digital asset theft and the lengths to which individuals may go in pursuit of financial gain.
Current Status of Suspects
John Woeltz was taken into custody on May 23, while William Duplessie surrendered to law enforcement and was arraigned on Tuesday. Following their arraignment, both defendants are currently being held without bail, with Duplessie expected to make a court appearance forthcoming on Friday.
In light of the serious nature of the allegations, the defendants’ legal representation has remained tight-lipped throughout the proceedings. Defense attorney Wayne Gosnell stated, "The record speaks for itself. I don’t really have any comment on beyond what was said," after the hearing concluded.
Looking Ahead
The judiciary process for this case, involving serious criminal accusations and substantial financial implications, continues to unfold as the court prepares to reconvene Thursday. As this situation develops, community members and legal analysts are watching closely, recognizing it as a pivotal example of rising criminal activity associated with cryptocurrency.
The implications of virtual asset crimes are becoming increasingly relevant, prompting deeper conversations about regulation and security in the burgeoning financial landscape.
Stay tuned for further updates as more details emerge from the courtroom proceedings.
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