- A third suspect has been arrested in connection with the kidnapping and torture of an Italian Bitcoin investor in New York
- The victim was held captive for nearly three weeks in a luxury SoHo townhouse, enduring severe abuse as his captors sought access to his Bitcoin fortune
- Authorities have recovered incriminating evidence from the property, including weapons, drugs, and photographs documenting the abuse
A third individual has been apprehended in New York for the kidnapping and torture of an Italian Bitcoin investor. The victim, held for nearly three weeks in an upmarket SoHo residence, suffered extreme abuse as his captors attempted to extract his Bitcoin credentials. The incident underscores growing concerns over violent crypto-related crimes, which are increasing globally.
Victim Kept for 17 Days
The disturbing kidnapping and torture incident was revealed this week, adding to the list of such incidents, which seems to be increasing in length on a weekly basis. The victim, whose identity has not been disclosed, was kidnapped just days after arriving in the city and was taken to a luxury townhouse in the SoHo neighborhood, where he was reportedly held captive for approximately 17 days.
His captors tried everything they could to get access to his Bitcoin holdings, including beatings and electric shocks. He was eventually allowed to go to another room under the pretence of finally getting the password to his wallet, only to escape and report his ordeal to the police.
Police were able to retrieve a mass of evidence from the apartment, including cocaine, a saw, chicken wire, night vision goggles and Polaroids of the victim with a gun to his head. The first suspect, John Woeltz, a 37-year-old cryptocurrency investor from Kentucky, was arrested shortly after the victim’s escape and has been charged with kidnapping, assault, and unlawful imprisonment. A second individual, William Duplessie, 33, surrendered to police and faces similar charges, while a third, Beatrice Folchi, described by one news report as a “brunette beauty,” was arrested Tuesday.
Fears Over Rising Violent Crimewave
This case has sent shockwaves through the cryptocurrency community, highlighting the potential risks associated with digital asset holdings. As the value of cryptocurrencies continues to rise, so too does the incentive for criminal activity targeting investors. Incidents of kidnapping, either of individuals or family members of high-net-worth crypto holders, have increased at an alarming rate in 2025, and law enforcement agencies are urging individuals involved in the crypto space to exercise heightened vigilance and take necessary precautions to safeguard their assets.
The investigation remains ongoing, with authorities seeking to determine if additional individuals were involved in the kidnapping scheme.
