Cryptocurrency investor kidnaps and tortures Italian tourist in NYC

In New York City, a 28-year-old Italian tourist was allegedly kidnapped and tortured by John Woeltz, a 37-year-old cryptocurrency investor. The incident began on May 6, when the victim arrived in the U.S. and was taken captive by Woeltz, who confiscated his passport and demanded access to his Bitcoin wallet. Over the course of several weeks, the victim endured severe physical abuse, including beatings and electric shocks, as his captors threatened his family to extract the Bitcoin password. He ultimately managed to escape and alerted authorities, leading to Woeltz's arrest. A second accomplice, Beatrice Folchi, was also taken into custody. The investigation revealed that the victim had been tied up and subjected to brutal treatment inside a luxury townhome in Manhattan's SoHo neighborhood. When he managed to escape, he approached law enforcement and disclosed the harrowing details of his ordeal. Police discovered evidence of torture, including photographs of the victim bound and threatened with firearms. Additionally, the residence was found to contain illegal substances and weapons, highlighting the severity of Woeltz’s criminal activities. Following the victim's alarming account, police arrested Woeltz on May 24. He was arraigned on multiple charges including kidnapping and unlawful imprisonment, and was denied bail due to his wealth and risk of flight, which could involve private aviation. The case raised concerns about the rise in violent crime associated with the cryptocurrency boom, as criminal elements attempt to exploit vulnerabilities in the digital finance landscape. The district attorney's office informed the court that a third individual, referred to as an unapprehended male, may have also participated in the kidnapping scheme. Woeltz's lawyer declined to comment on the case. The victim was hospitalized and is recovering from his injuries, though the emotional scars from such a traumatic experience may take longer to heal. This case serves as a stark reminder of the potential dangers that can accompany the growing popularity of cryptocurrencies.