New Suspect Arrested For Kidnapping And Torturing Italian Tourist In NYC

In a shocking incident that has rattled both the cryptocurrency and financial sectors, two American crypto investors have been arrested

Written by: Sophia Cruz • Thursday, May 29, 2025 • 2 min read

Quick overview

Two American crypto investors were arrested for allegedly kidnapping and torturing an Italian tourist in New York City to access his Bitcoin wallet.
The victim was held captive for 17 days, enduring severe abuse, including beatings and electric shocks, before managing to escape.
The suspects face serious charges, including kidnapping for ransom and unlawful imprisonment, highlighting the dangers of 'wrench attacks' in the cryptocurrency space.
This incident underscores the importance of personal safety for crypto investors as digital assets become more valuable.

In a shocking incident that has rattled both the cryptocurrency and financial sectors, two American crypto investors have been arrested for allegedly kidnapping and torturing a 28-year-old Italian tourist in New York City.

The victim was reportedly held captive for 17 days in a lavish SoHo townhouse, enduring brutal physical and psychological abuse in an effort to extract access to his Bitcoin wallet.

The main suspect, 37-year-old John Woeltz from Kentucky, was taken into custody on May 23. His alleged accomplice, 32-year-old William Duplessie, surrendered to law enforcement four days later. Both men are facing serious charges including kidnapping for ransom, unlawful imprisonment, assault, and possession of weapons.

Authorities say the tourist traveled to New York on May 6 after making contact with Woeltz, whom he had met through cryptocurrency-related interactions. Upon arrival, the victim’s passport was confiscated, and he was allegedly confined to a townhouse that rents for up to $40,000 per month. During his captivity, he was subjected to repeated beatings, electric shocks, threats involving a chainsaw, and forced drug use—all part of an intense campaign to force him into revealing the keys to his crypto wallet.

The ordeal ended when the victim managed a daring escape on May 23, emerging barefoot and injured onto the streets of SoHo. Residents in the area contacted authorities, and the police were able to track the townhouse where they found disturbing evidence: Polaroid images of the abuse, illegal firearms, and controlled substances.

This case sheds light on a growing concern within the crypto space—so-called “wrench attacks,” where individuals are physically threatened or harmed to hand over digital assets. As cryptocurrencies continue to attract significant investment and attention, personal safety is becoming just as critical as digital security.

For crypto investors and financial professionals alike, this incident serves as a harsh reminder of the human vulnerabilities in an increasingly digital world. Authorities continue to investigate the case, with both suspects being held without bail.

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ABOUT THE AUTHOR See More

Sophia Cruz

Financial Writer - Asian & European Desks

Sophia is an experienced writer, reporter and newsdesk member, mostly on the financial sectors. For the past 5 years Sophia has covered a wide variety of topics such as the financial markets, economics, technology, fin-tech and trading. Sophia has been a part of the FX Leaders team since 2017 and works on producing valuable content and information for traders of all levels of experience.