A 37-year-old cryptocurrency investor has been charged with multiple felonies after an alleged kidnapping and torture case involving a 28-year-old man in a luxury Manhattan townhouse. The victim reportedly endured nearly three weeks of captivity in a botched scheme to steal his Bitcoin.
John Woeltz, a Kentucky native, was apprehended on Friday morning when the victim, a visitor from Italy, escaped and flagged down a traffic officer in the NoLIta area. According to the charges, Woeltz, along with at least one accomplice, kept the victim confined in an opulent eight-bedroom townhouse rented for $30,000 per month.
The victim arrived in New York on May 6, expecting to attend what he thought was a standard meeting. Instead, he found himself trapped in a harrowing experience characterized by violence and intimidation.
People are getting kidnapped & tortured for their crypto.
Stop flaunting your wealth.
Stop bragging about what you own.
Be smart people.
John Woeltz, a 37-year-old crypto investor, and Beatrice Folchi were arrested in New York City for allegedly kidnapping and torturing an… pic.twitter.com/7ldzgQumZy
— Vandell | Black Swan Capitalist (@vandell33) May 26, 2025
Victim Escapes After Weeks of Abuse in Bitcoin Ransom Plot
According to law enforcement officials, Woeltz and an unnamed male accomplice confiscated the victim’s passport and electronic devices, subsequently demanding access to his Bitcoin wallet password. When the victim refused, they bound him and subjected him to physical assaults, including shock from wires and threats of lethal violence.
In a particularly alarming episode, the captors reportedly dangled the victim over a stairwell, threatening to kill him if he did not comply. They further escalated their threats by promising harm to the victim’s family.
On Friday, driven by sheer desperation, the victim agreed to retrieve his Bitcoin wallet password, claiming it was stored on a laptop in another part of the house. When Woeltz turned his back, the victim seized the opportunity, escaping to a nearby traffic agent, who promptly summoned assistance. Officers from the Fifth Precinct quickly responded and took Woeltz into custody. The victim was then transported to Bellevue Hospital, where he is currently in stable condition.
Police Discover Evidence of Torture in Manhattan Townhouse
A search of the townhouse yielded shocking revelations, including Polaroid photographs depicting the victim in bondage and being assaulted. Additionally, authorities recovered a firearm, cocaine, and various implements such as chicken wire, a saw, body armor, ammunition, and night vision goggles. Two butlers at the estate also cooperated with the police investigation.
Beatrice Folchi was also arrested and faces charges of kidnapping and unlawful imprisonment, though the Manhattan District Attorney’s Office has decided not to prosecute her at this stage, citing the need for further inquiry.
Woeltz was arraigned on Saturday in a Manhattan criminal court, facing charges of kidnapping, assault, unlawful imprisonment, and criminal possession of a weapon. The judge ordered him held without bail and mandated that he surrender his passport. Prosecutors raised concerns about his flight risk due to his access to a private jet and helicopter.
This incident underscores a troubling rise in violent acts targeting cryptocurrency holders and industry professionals, as their digital wallets, typically protected by a single password, present an enticing target for criminals. Just earlier this month, armed assailants in central Paris attempted to abduct the child of a well-known crypto executive in broad daylight. As Bitcoin and other digital assets continue to appreciate, the lure for offenders to bypass advanced cyber defenses in favor of physical coercion has become pronounced.
The post Manhattan Crypto Investor Charged in Violent Bitcoin Extortion Plot appeared first on Finance Newso.
