Crypto Investor Allegedly Kidnapped and Tortured Italian Man for Bitcoin (BTC) Password – Here’s the Full Chronology!

Jakarta, Pintu News – Shocking news has rocked the cryptocurrency world. A Manhattan-based crypto investor, John Woeltz, was indicted on charges of kidnapping and torturing an Italian man to gain access to his Bitcoin wallet.

The cruel act was committed in a luxury townhouse in the Soho area that was rented for IDR 490 million per month (equivalent to $30,000). The case adds to a long list of crimes involving digital assets, amid the soaring value and risk of crypto investments.

Held in a Luxury Townhouse: Victim Forced to Give Bitcoin (BTC) Password

According to police reports and reported by The New York Times, the 28-year-old male victim arrived in the United States on May 6, 2025. Shortly after his arrival, he was allegedly kidnapped by John Woeltz, 37, along with a woman who was allegedly his accomplice. The victim was then kept in a five-story mansion in Soho, Manhattan, where torture allegedly took place for several weeks.

The perpetrators seized the victim’s passport, electronic devices, and tried to force her to give them her Bitcoin wallet password. When the victim refused, he is said to have been subjected to a series of extreme violence, including horrific beatings and physical torture. This violence is believed to have been aimed at expropriating the victim’s crypto assets, which were likely worth a lot of money.

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Victim’s Torture Series

The series of tortures experienced by the victim were very sadistic and cruel. He claimed to have been beaten, electrocuted, threatened with firearms, and even hung from the top floor of the house where he was detained. One of the most gruesome acts revealed was when the perpetrator used a saw to cut the victim’s body parts.

Not stopping there, the victim also claims to have been forced to smoke illegal drugs. Not only physical, but psychological terror was also experienced because the perpetrator threatened to harm his family if he did not hand over his crypto access. Evidence in the form of Polaroid photos found at the scene reinforced the victim’s claim of torture.

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Perpetrator held without bail, charged with 4 counts of aggravated battery

After escaping last Friday, the victim immediately reported to the authorities, who arrested John Woeltz. He was charged with four felony counts, including kidnapping for ransom and torture. During a court hearing on Saturday at the Manhattan Criminal Court, Woeltz pleaded not guilty, but was held without bail by Judge Eric Schumacher.

A 24-year-old woman suspected of involvement was also detained, but the next day was seen roaming freely in New York. No formal charges have yet been filed against the woman according to court databases. The relationship between the victim and the perpetrator has yet to be fully uncovered by authorities, including whether cryptocurrency assets were actually stolen.

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Reference:

• Cointelegraph. Crypto investor charged with kidnapping, torturing an Italian for passwords. Accessed May 26, 2025
• Featured Image: Generated by AI