Inside the shocking NYC Bitcoin torture plot

Inside the shocking NYC Bitcoin torture plot
Credit: Panther Media GmbH/Alamy

According to authorities, law enforcement sources with direct knowledge of the case, and a criminal complaint, a man was detained on Friday after allegedly kidnapping an Italian tourist and torturing him for weeks inside a Manhattan residence in an attempt to take the claimed victim’s Bitcoin.

According to law enforcement officials, the victim managed to flee the house and seek assistance on Friday morning. According to court documents, John Woeltz, 37, was arrested that same day and was charged on Saturday on one count each of illegal detention, second-degree assault, abduction, and criminal possession of a handgun.

Woeltz, the tourist, and a third party have been doing business together for years, according to law enforcement sources familiar with the case. The third company partner, whose identity has not been made public, is still being sought by police. According to the reports, Woeltz and the other individual had previously engaged in aggressive behavior with the victim, but never to this degree. They stated the three had a very complicated relationship and that it seemed the victim was frequently the target of the two men’s taunts.

How long was the tourist allegedly held captive?

According to law enforcement officials, the 28-year-old tourist, who was traveling from Italy, met his accused kidnapper on May 6. They said that at that point, Woeltz showed the younger guy a house in Manhattan’s Nolita district that he was renting.

A police complaint claims that Woeltz and an unnamed “unapprehended male” abducted the victim, stole his passport and equipment, and tormented him until he was able to flee a few weeks later.

What brutal tactics were used to extract Bitcoin?

Over the course of weeks, the two allegedly beat the tourist, shocked him with electric wires, and struck him in the head with a revolver after he refused to give them the password to his Bitcoin account so they could steal the virtual currency, according to the lawsuit.

In addition to threatening to have his family killed, the complaint claimed that Woeltz and the other man repeatedly pointed a gun at the victim’s head, dangled him over the ledge of the top flight of stairs in the house, and threatened to kill him if he did not divulge his password.

According to the complaint, the tourist reportedly informed authorities that the guys chained and knotted his wrists to keep him from moving. In order to prevent the victim from escaping, the men placed an Apple AirTag around his neck and peed on him, according to law enforcement sources. The 28-year-old encountered a traffic cop during his getaway, who then phoned the Prince Street residence’s police. 

According to authorities, he told the agent that he had been seized and detained without his will and that he had been beaten regularly while in prison.

According to authorities, the accused victim was sent to a hospital in stable condition. He was covered in scratches and bruises and had markings on his shackled wrists when he approached cops on Friday, according to law enforcement officials.

What disturbing evidence was found in the Manhattan home?

According to law authorities, Woeltz is a well-known cryptocurrency dealer from Kentucky with an estimated net worth of $100 million. According to them, the victim is worth an estimated $30 million. According to the sources, Woeltz had been charging between $30,000 and $40,000 a month to rent out the Prince Street home. The house was recently rented for $75,000 in March, according to an internet listing.

According to law enforcement sources, there were stripper poles in the basement and instances of alcohol throughout the six-story home. According to those sources, detectives discovered many Polaroid photos showing the victim being restrained and subjected to abuse at home. According to reports, investigators also found a number of torture artifacts. According to law enforcement officials, detectives discovered a pistol inside the home on Saturday that they suspect was used to torture the victim.

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