A New York-based cryptocurrency investor is facing serious criminal charges after allegedly abducting a man and holding him captive for nearly three weeks in an upscale Manhattan townhouse.
The victim was reportedly tortured in an effort to coerce him into revealing access to his Bitcoin holdings.
John Woeltz, 37, was arrested late Friday after the victim managed to escape and flag down a traffic officer. Authorities say the man had endured weeks of physical abuse, electric shocks, and psychological threats during his captivity.
According to court records, Woeltz was arraigned on Saturday on multiple charges, including kidnapping, assault, unlawful imprisonment, and illegal possession of a firearm. The Manhattan District Attorney’s Office confirmed he is being held without bail. His attorney, Wayne Gosnell, declined to comment on the case.
The 28-year-old victim, who has not been publicly identified, arrived in New York from Italy in early May. Investigators believe he was abducted on May 6, though the nature of his relationship with the accused remains unclear.
Prosecutors allege the primary motive was to gain access to the victim’s Bitcoin wallet. During Saturday’s arraignment, Assistant District Attorney Michael Mattson told the court that Woeltz was not acting alone. Authorities are searching for at least one other suspect, referred to as an “unapprehended male” in court documents.
Inside the townhouse, the victim was reportedly bound, drugged, and assaulted repeatedly. Prosecutors say he was shocked with electric wires, struck in the head with a firearm, and even dangled over a staircase in a life-threatening intimidation tactic designed to extract his cryptocurrency password.
The ordeal ended Friday when the victim, fearing for his life, agreed to retrieve his password from a nearby laptop. When his captor momentarily turned away, he seized the opportunity to escape and ran into the street seeking help.
Emergency responders transported the man to a nearby hospital, where doctors confirmed injuries consistent with prolonged physical restraint and abuse.
A subsequent search of the luxury townhouse uncovered disturbing evidence: law enforcement officers recovered a saw, chicken wire, ammunition, night vision goggles, body armor, and polaroid photographs depicting the victim with a firearm aimed at his head. Cocaine was also found on the premises.
Prosecutors noted that Woeltz poses a flight risk, citing access to both a private jet and a helicopter. The court has ordered the surrender of his passport, and he is scheduled to appear in Manhattan criminal court again next week.
It is worth noting that this Manhattan case is far from isolated. It mirrors a growing wave of crypto kidnappings and ransom attempts globally, particularly in Europe. France, in particular, has emerged as a hotspot for such incidents, prompting high-level security alerts and personal safety upgrades among crypto executives.
Just months ago, David Balland, co-founder of Ledger, was kidnapped and held for ransom in France before being rescued. Similar brutality was reported in Paris suburbs in 2024 when the father of a crypto entrepreneur was abducted and mutilated.
Security firms like Infinite Risks International report a surge in long-term contracts for bodyguards and private risk consultants from high-net-worth crypto clients. European governments, including France’s, have also begun issuing confidential security briefings and urging public discretion to prevent targeting.
