Crypto Investor Charged With Kidnapping, Torturing Man in NYC Over Bitcoin Password
A crypto investor, John Woeltz, 37, was arrested for kidnapping and torturing a 28-year-old Italian man to gain access to his Bitcoin wallet. The victim was held captive in a Manhattan townhouse, where he was bound, beaten, drugged, and electrocuted. He escaped after pretending to retrieve his password. Woeltz faces charges of kidnapping, assault, unlawful imprisonment, and weapons possession, and is held without bail. Prosecutors indicated he had an accomplice. A search of the property uncovered cocaine, a saw, chicken wire, night vision goggles, and photos of the victim with a gun. The incident reflects a rise in violent "wrench attacks" targeting crypto holders, with at least 26 such incidents reported in 2025. Other recent cases include an attempted abduction of a crypto executive's daughter and a tourist losing $123,000 after being drugged by a fake Uber driver.
