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In a bizarre and deeply disturbing case out of New York City, a self-proclaimed crypto investor has been arrested for allegedly kidnapping and torturing an Italian tourist, all in what appears to be a twisted plot to extract Bitcoin.
The Shocking Arrest
It all unfolded in SoHo, one of Manhattan’s trendiest neighbourhoods, where 37-year-old John Woeltz was taken into custody on Friday. Neighbours were stunned as Woeltz was escorted from his upscale Prince Street apartment barefoot and wrapped in a white bathrobe, not exactly the image you expect of someone facing such serious charges.
According to the NYPD, Woeltz now faces multiple charges, including kidnapping, unlawful imprisonment, assault, and illegal gun possession. A judge deemed him a flight risk and ordered him held without bail while also confiscating his passport.
A second person, 24-year-old Beatrice Folchi from Manhattan, was also taken into custody. She was initially charged with kidnapping and unlawful imprisonment, but prosecutors later said they were “declining to prosecute” her for now, pending further investigation. Authorities haven’t clarified what role she may have played, or what her connection to Woeltz is.
A Crypto Trap Turns Nightmare
Court documents reveal an unsettling timeline. The victim, a tourist from Italy, arrived in New York on May 6, reportedly after being promised he could reclaim some Bitcoin that had previously been coerced from him. Instead of a friendly reunion or a business transaction, he walked into what would become weeks of terror.
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Prosecutors say the man was tied up and subjected to brutal torture over a span of several weeks. He was shocked with wires, forced to inhale crack cocaine, and even had his leg cut with a saw. Police found the saw in the apartment, alongside other disturbing items, including night vision goggles, body armour, and graphic photos of the victim, including Polaroids with guns pointed at his head.
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At one point, Woeltz and an alleged accomplice reportedly dangled the man over a staircase railing, threatening to kill him if he didn’t surrender his Bitcoin password. Eventually, terrified for his life, the victim gave up the password, which was stored on his laptop. When the suspect left the room to retrieve the device, the victim saw his chance and made a run for it, barefoot and covered in blood, flagging down a nearby traffic officer for help.
Crypto Investor or Criminal Mastermind?
Woeltz is described as a crypto investor originally from Kentucky. According to reports, he rents the SoHo apartment for a jaw-dropping $40,000 per month. While that might suggest he’s flush with crypto cash, the methods he allegedly used to gain access to others’ Bitcoin tell a much darker story.
The case has left the local community reeling. Neighbours described the aftermath as chaotic, with police swarming the area and confusion about what exactly had taken place behind the doors of the luxury apartment.
What Comes Next
For now, Woeltz remains behind bars, with prosecutors continuing to build their case. The full extent of what happened inside that apartment is still emerging, but if even half of the allegations are proven, it paints a terrifying picture of how far some will go in the pursuit of digital wealth.
This isn’t just another headline about crypto gone wrong. This is a grim reminder that behind the charts and tokens are real people, and sometimes, real horror.
