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Authorities Say Italian Man Tortured by Crypto Trader in NYC Home in Attempted Bitcoin Theft


A man named John Woeltz, 37, was arrested in Manhattan for allegedly kidnapping and torturing a 28-year-old Italian tourist for weeks, with the intention of stealing the victim’s Bitcoin. Woeltz, previously involved in a business relationship with the tourist, reportedly took him to a rented residence in Nolita on May 6. Over the course of 17 days, Woeltz, along with an unidentified accomplice, beat and tortured the victim to extract his Bitcoin account password. Tactics included physical abuse, threats on the victim’s life, and even threats against his family. They tormented him by binding his wrists and placing an Apple AirTag around his neck to prevent escape.

The victim managed to escape on Friday morning and approached a traffic agent who alerted the police. When officers arrived, the victim was found with visible injuries, including cuts and bruises, indicative of his ordeal. He was subsequently taken to a hospital in stable condition.

Police investigations led to the discovery of evidence in Woeltz’s residence, including torturous items, a gun believed to be used during the assaults, and Polaroid photographs documenting the abuse. Woeltz, a prominent cryptocurrency trader with an estimated net worth of $100 million, faces multiple charges, including kidnapping and unlawful possession of a firearm. Authorities are still searching for his accomplice, while neighbors expressed shock at the details of the case, with one remarking on the unexpected nature of such a crime in their area. Woeltz’s arraignment took place on Saturday, and he is currently held in custody, awaiting his next court date.

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