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A 28-year-old Italian businessman was allegedly kidnapped and tortured by crypto investor John Woeltz. He was held captive in a Manhattan luxury apartment. According to New York police, Woeltz tried to steal the busineman’s crypto wallet passwords in a violent attempt.
The victim had flown to New York on May 6 for what he believed was a business meeting. Once inside the $40,000-per-month Prince Street apartment in SoHo, Woeltz allegedly seized his passport. He, then, held the victim captive for more than two weeks.
Police said the victim was tasered while standing in water, pistol-whipped, and forced to snort cocaine. He was also reportedly threatened with an electric chainsaw, which caused a deep cut on his arm.
The NYPD recovered Polaroid pictures, a gun, broken glass, night vision goggles, a bulletproof vest, and an Apple AirTag, allegedly used to track the victim. The flat, rented short-term, gave no visible signs of a crime scene. Photos found at the scene also showed the man bound with electrical wires and held at gunpoint, according to police sources.
On the morning of May 23, fearing for his life, the victim escaped wearing only a bathrobe. He approached a nearby NYPD officer and reported the ordeal. Officers raided the apartment shortly after and arrested Woeltz, 37. Police also arrested Beatrice Folchi, 24, of Manhattan, on charges of kidnapping and unlawful imprisonment. Two others with ties to Woeltz are being questioned.
A nearby jewelry vendor said the renters gave off a ‘weird vibe.’ “I just assumed they were filming something,” he told reporters. Photographer Ciaran Tully, who witnessed one of the arrests, said it was ‘the strangest thing’ he had seen in the area.
This is not the first case of crypto kidnapping in recent times. Just a week ago, a group of masked intruders attempted to kidnap the grandson and the pregnant daughter of Paymium CEO Pierre Noizat. The incident took place in the Paris suburbs, quickly going viral as the kidnapping attempt’s video surfaced online.
The case has highlighted growing risks tied to digital assets and unregulated crypto dealings. Authorities are warning investors to be cautious when conducting transactions or meetings involving high-value cryptocurrencies.
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