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Crypto Trader Allegedly Tortured Italian Man in NYC Home to Steal Bitcoin, Authorities Report


A 37-year-old man named John Woeltz was arrested in Manhattan for allegedly kidnapping and torturing a 28-year-old Italian tourist over a span of 17 days. The victim managed to escape from the residence where he was held and sought help on Friday. According to law enforcement sources, Woeltz and an unidentified accomplice aimed to extort the victim for his Bitcoin account by inflicting severe violence, including beatings, electric shocks, and threats toward his family. The victims were stripped of his electronics and passport, bound, and subjected to additional humiliations before he escaped.

Woeltz was charged with second-degree assault, kidnapping, unlawful imprisonment, and possession of a firearm. His previous relationship with the victim and the third individual involved was described as complex, with a history of volatility but no prior incidents escalating to such violence. The search continues for the unidentified accomplice. Woeltz, a cryptocurrency trader reportedly worth $100 million, was renting a luxury home with high-end features, which drew significant attention following the gruesome discovery of torture items and incriminating evidence, including Polaroid photos of the victim.

Neighbors were shocked by the details of the case, expressing disbelief that such severe crimes could occur in their community. Despite Woeltz’s wealth, the motives behind the kidnapping remain perplexing to observers. The victim, showing signs of physical abuse, was taken to the hospital in stable condition. Woeltz is currently being held in custody, with a court date scheduled for Wednesday.

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