Crypto Investor Arrested in NYC for Kidnapping, Torturing Man Over Bitcoin Password

A crypto investor, John Woeltz, 37, was arrested in Manhattan for allegedly kidnapping and torturing a 28-year-old Italian man to access his Bitcoin wallet. The victim, held for weeks in a luxury townhouse, was bound, beaten, drugged, and electrocuted before escaping on Friday. Woeltz faces charges of kidnapping, assault, and weapons possession. Evidence included cocaine, night vision goggles, and Polaroids of the victim at gunpoint.

This incident underscores a rising trend of violent "wrench attacks" targeting crypto holders, with at least 26 such cases reported in 2025, including a recent attempted kidnapping in Paris and a $123,000 theft in London.