New York City, May 26, 2025 — In a case that reads like a Hollywood thriller, self-proclaimed “Crypto King” John Woeltz has been arrested and charged in connection with the brutal kidnapping and torture of an Italian tourist in a chilling bid to steal millions in cryptocurrency.
According to law enforcement officials, Woeltz—who has amassed an estimated crypto fortune of $155 million—allegedly orchestrated a calculated abduction in Manhattan, targeting the unnamed Italian victim in an attempt to obtain the password to his Bitcoin wallet.
Authorities say the victim, who was visiting New York on a business trip, was lured into a luxury apartment under false pretenses. There, he was held against his will and subjected to hours of physical and psychological torture. Investigators revealed that the attackers used “extreme coercion tactics” to force the victim to reveal access credentials to his digital assets.
Detectives with the NYPD Cyber Crimes and Major Crimes Units, in collaboration with federal agencies, tracked down Woeltz using surveillance footage, digital footprints, and witness statements. He was taken into custody late Sunday evening without incident.
“This is one of the most disturbing cryptocurrency-related crimes we have seen,” said NYPD Commissioner Edward Caban in a press briefing. “It underscores the real-world dangers posed by the enormous sums of money tied up in digital assets—and the criminals who will stop at nothing to get their hands on them.”
Woeltz is currently being held at Rikers Island and faces multiple charges, including kidnapping, assault, attempted grand larceny, and cybercrime-related offenses. He is expected to appear before a Manhattan judge later this week.
The victim, whose identity remains confidential for safety reasons, was rescued after a tip-off led police to the location. He is currently recovering in a local hospital and is said to be in stable condition.
As the investigation unfolds, authorities are examining whether Woeltz acted alone or was part of a larger criminal network targeting high-net-worth cryptocurrency holders.
The case has sent shockwaves through the global crypto community and raised new concerns about the risks associated with holding vast digital wealth in a largely unregulated and often anonymous environment.
