Two men plead not guilty in violent New York crypto kidnapping case
FILE PHOTO: John Woeltz, 37, appears for arraignment in Manhattan Criminal Court after he was arrested for allegedly holding an Italian tourist hostage in an apparent scheme to steal the man's crypto currency fortune in New York City, U.S., May 24, 2025. Curtis Means/Pool via REUTERS/File photo
NEW YORK (Reuters) -Two men pleaded not guilty on Wednesday to charges they kidnapped a man for three weeks in Manahttan's upscale SoHo neighborhood, shocked him with electric wires and dangled him over a staircase to try to get him to give up his bitcoin password.
John Woeltz, 37, and William Duplessie, 33, have been detained since their arrests last month on kidnapping and other charges. Both defendants face up to life in prison if convicted.
Prosecutors with the Manhattan District Attorney's office said Duplessie and Woeltz on May 6 took aman's electronics and password and demanded that he share his password so they could steal his cryptocurrency.
When the man refused to share his password, Duplessie and Woeltz began a series of brutal beatings over three weeks in a luxury townhouse until the man managed to escape, prosecutors said. Duplessie and Woeltz tied the man's wrists, hit him on the head with a gun and threatened to kill his family, according to criminal complaints against the two men filed in court.
Local media have called Woeltz a cryptocurrency investor and described the alleged victim as an Italian man. Both Woeltz and the alleged victim had ties to a crypto hedge fund in New York, the New York Times reported, citing an internal police report described by a law enforcement official.
The alleged incident comes asthree cryptocurrency-linked kidnappingsor kidnapping attempts have taken place in France so far this year. The rapid rise in the price of bitcoin and other cryptocurrencies in recent years has created a new group of wealthy investors who could be tempting targets for criminals, according to security experts.
(Reporting by Luc Cohen in New York; Editing by Will Dunham)
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