A Kentucky native is facing charges of assault and kidnapping, accused of torturing a man for his Bitcoin password in New York City.
Police allege cryptocurrency investor John Woeltz, 37, held a 28-year-old Italian man captive for weeks in a Manhattan townhouse, subjecting him to threats and torture as he tried to steal the man’s cryptocurrency, according to a criminal complaint, The New York Times reported.
FILE PHOTO: Representations of cryptocurrency bitcoin are seen in this illustration picture created in Paris, France, March 9, 2024.
The man from Italy, who hasn’t been identified by authorities, was lured to New York after being told he could retrieve Bitcoin that he had been forced to send to Woeltz, CBS News reported.
Prosecutors allege the man, held in the home since May 6, was shocked with electric wires, had his leg cut with a saw and was forced to smoke crack cocaine, as Woeltz and another unidentified man tried to get the man to divulge his password.
Police found a saw, chicken wire and body armor at the home, as well as photographs showing a gun pointed at the Italian man’s head, prosecutors said.
Woeltz was renting the Manhattan eight-bedroom home for at least $30,000 per month, a law enforcement official told the Times.
He, and an unidentified accomplice, took the Italian man’s electronics and passport and threatened to kill his family, prosecutors said the kidnapped man told police.
The man managed to escape the morning of May 23, fleeing the townhouse bloodied and barefoot and finding a nearby traffic agent, according to police. He was taken to the hospital in stable condition.
Woeltz was arrested that day and charged in Manhattan criminal court with assault, criminal possession of a gun, kidnapping and unlawful imprisonment, online court records show. The prosecutor’s office didn’t immediately respond to a USA TODAY request for additional information.
Woeltz pleaded not guilty Saturday and is next due in court Wednesday.
Bitcoin, a digital currency not governed nor issued by central banks, can be sent and received to anyone anywhere in the world, USA Today reported. The digital tokens are produced by computers and have a limited supply. As of Memorial Day, one bitcoin was worth nearly $110,000.
This story may be updated.
Reach reporter Matthew Glowicki at mglowicki@courier-journal.com or 502-582-4000.
This article originally appeared on Louisville Courier Journal: Kentucky native alleged to have kidnapped, tortured man over Bitcoin
