Crypto Trader Arrested After Allegedly Torturing Italian Tourist for Bitcoin in NYC
Date: May 26, 2025
By: Jonathan Dienst, Marc Santia, Maya Eaglin, Rebecca Cohen, and Samantha Cookinham
In a shocking case that has sent ripples through both the cryptocurrency and law enforcement communities, a 37-year-old Kentucky man, John Woeltz, was arrested on Friday after being accused of kidnapping and torturing an Italian tourist in a Manhattan home. The alleged motive behind this harrowing act was an attempt to steal the victim’s Bitcoin holdings.
Allegations of Torture and Kidnapping
According to a criminal complaint filed in court, Woeltz and an unidentified accomplice kidnapped the 28-year-old Italian man shortly after they became acquainted on May 6. The victim was taken to a residence rented by Woeltz in Nolita, where he was subjected to a brutal ordeal that reportedly lasted for 17 days.
Law enforcement sources revealed that the victim was stripped of his electronic devices and passport upon arrival at the home. Throughout his captivity, he was allegedly beaten, shocked with electric wires, and hit in the head with a firearm as the captors attempted to extract the password to his Bitcoin account. They reportedly threatened the man with death if he did not comply with their demands.
The complaint further described a terrifying series of incidents in which the assailants dangled the victim over a staircase ledge and threatened to harm his family if he did not divulge the password to his Bitcoin. The victim was also bound and deprived of freedom, leading to a situation that left him desperate for escape.
Desperate Escape Leads to Arrest
The ordeal came to a head on Friday morning when the victim, under the pretense of agreeing to provide his Bitcoin password, managed to flee while Woeltz’s back was turned. He dashed down the stairs and out of the apartment, eventually running into a traffic agent outside, who promptly contacted the police.
Upon their arrival, officers found the victim displaying multiple cuts and bruises, with marks on his wrists that indicated binding. He was subsequently taken to a hospital and reported to be in stable condition.
Details of the Investigation
Following the victim’s escape, authorities quickly arrested Woeltz at the Prince Street residence he had been renting for a hefty monthly fee that ranged from $30,000 to $40,000. Additional investigation efforts uncovered various items of evidence, including torture equipment and photographs allegedly documenting the assault.
Nearby residents and witnesses were startled by the police presence, as SWAT teams descended upon the building to apprehend Woeltz. Jennifer Crawford, a neighbor, described the scene, noting a palpable sense of disbelief regarding the severity of the crime. “I’ve seen a lot, but this is the most unusual thing I’ve seen in 30 years in this neighborhood,” she remarked.
Legal Developments and Implications
Woeltz was arraigned Saturday on several charges, including second-degree assault, kidnapping, unlawful imprisonment, and criminal possession of a firearm. Following the arraignment, a judge ordered that he be held in custody, citing fears he could abscond given his ties to Kentucky and ownership of aircraft that might facilitate fleeing.
The prosecution has indicated that if Woeltz is convicted of kidnapping in the first degree, he could face a sentence ranging from 15 years to life in prison.
Authorities continue their search for the unidentified accomplice who allegedly participated in the crime, as the investigation remains ongoing. The case has sparked discussions around the dangers associated with cryptocurrency and the lengths to which some individuals may go in pursuit of digital wealth.
As the details of this troubling incident circulate, they serve as a stark reminder of the potential risks involved in the high-stakes world of cryptocurrency trading and investment.
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