A shocking abduction case took place in Manhattan, where a man was held hostage. As Associated Press reported, to try to access his Bitcoin portfolio, the victim was beaten and forced to put the password.
The victim was removed on May 6, but his name was not made public. The 28 -year -old Italian national was brought home with the promise to recover the bitcoin that he was forced to send to Woeltz.
The kidnapper was John Woeltz, 37, a cryptographic investor. He was arrested after the victim escaped from the townhouse in eight rooms and obtained the help of a traffic agent. He was taken to Bellevue Hospital in a stable state.
John Woeltz faces several charges
Woeltz was presented on Saturday at the Manhattan Criminal Court after his arrest on Friday. He was accused of kidnapping, assault, illegal imprisonment and illegal possession of a firearm. He rented the Soho apartment for $ 30,000 a month, where the victim was detained.
Woeltz would have 150 acres property in Kentucky and worth $ 100 million, although it was not clear how it has made a fortune. Sources say he has worked in blockchain safety and may have been involved in a crypto -focused hedge fund.
The court decided that he would remain in detention without surety. It is not clear if the kidnapper and the victim knew each other.
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Drug victim, tortured for weeks
The removal was part of a larger plan involving others, including a man who has not yet been captured. The victim was attached, tortured, drug addict, shocked by electric wires and even struck in the head with a gun. At one point, the kidnappers threatened to kill him while suspending him on a staircase if he had not abandoned his password.
Police have found proofs of cocaine, a saw, a chicken thread, a bulletproof vest, night vision glasses, ammunition and Polaroid photos showing the victim with a weapon to the head in the town house. Woeltz has been invited to hand over his passport since he could escape. He should appear in court next week.
Violent aggresses increasing
In another case, New York prosecutors charged two guys, Michael Lauchlan and Gary Zaydman, for having directed a scam with their Crypto recovery company, Coin Corner Network. They have been accused of having stolen customers using false advertisements and using players to present themselves as satisfied customers.
These types of incidents reveal the growing trend of violent assaults, where victims are forced to put their passwords back. Security experts say that crypto attacks are increasing in 2025. More than 26 cases were drawn this year from kidnapping at home invasions.
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