Two men accused of kidnapping and torturing an Italian cryptocurrency investor in New York City have been granted bail following a high-profile case that drew intense media attention.
John Woeltz, aged 37, and William Duplessie, 33, were charged with numerous serious offenses including kidnapping, assault, unlawful imprisonment, and coercion.
The alleged victim, a 28-year-old Italian national, was reportedly held captive for about 17 days, from early May 2025. During this time, prosecutors say the men inflicted various forms of torture on him in an attempt to coerce the victim into surrendering his Bitcoin password and access to his cryptocurrency holdings.
According to court documents and prosecutors, the victim was subjected to extreme abuse including electric shocks to his feet, beatings, etc. At one point, Woeltz allegedly dangled the victim from a staircase five stories high as a form of threat.
The two men reportedly used a small chainsaw and other tools to terrorize him. The abuse was reportedly motivated by a crypto dispute, with the kidnappers demanding the victim’s Bitcoin password to access his funds.
Despite the severity of the charges, both Woeltz and Duplessie pleaded not guilty and were granted bail set at $1 million each, with conditions including home confinement with their parents as alternatives to incarceration while the case proceeds.
Their defense lawyers contested the claims, presenting video evidence suggesting the victim appeared untroubled during some periods, though prosecutors argued that victims of abuse may not always respond as expected.
The bail decision comes amid ongoing investigations that also scrutinize two detectives assigned to security at the townhouse. The case remains under close legal and public scrutiny as it exemplifies the dark intersection of cryptocurrency conflicts and violent criminal acts in an urban setting.
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