TW: Mention of kidnapping and torture.

A leisurely stroll for a 28-year-old Italian tourist in NYC proved to be near-fatal in what seemed to be a 70s Bollywood-esque crime pulled off by a crypto investor.

John Woeltz, a 37-year-old crypto investor worth $100 million (per reports), allegedly kidnapped the tourist on May 6 and held him captive for at least two weeks in his luxury Manhattan townhouse.

The victim was allegedly drugged with cocaine and also tortured in order to gain access to his crypto wallet. Woeltz demanded access to the passkey for the tourist’s Bitcoin wallet, which the gentleman managed to conceal despite being bound, beaten and electrocuted.

The victim finally managed to escape and inform the authorities when the perpetrator was arraigned by the cops. A search of his property revealed chicken wire, a saw, cocaine, and night vision goggles, among other articles. The accused also held polaroids of the victim pictured with a gun on the latter’s head.

Crypto Investor Charged With Kidnapping, Torturing Man in NYC Over Bitcoin Password
► https://t.co/U1GZcxx4Rm https://t.co/U1GZcxx4Rm — Decrypt (@DecryptMedia) May 26, 2025

John Woeltz, a cryptocurrency investor, has been arrested in New York for allegedly kidnapping and torturing a 28-year-old Italian man for weeks to steal his Bitcoin password. pic.twitter.com/6i5TZ0RX7j — DW News (@dwnews) May 26, 2025

Police arrested a crypto investor in New York City on Friday for allegedly kidnapping and torturing an Italian tourist who would not give up the password to his crypto wallet. @CaitlynBecker is outside of the apartment where the tourist was allegedly held and breaks down what we… pic.twitter.com/CZJYsd5Jca — NewsNation (@NewsNation) May 26, 2025

A New York City crypto investor kidnapped a 28-year-old man and tortured him for weeks by electrocuting him with wires, beating him with a gun and forcing him to smoke cocaine to extort cryptocurrency from him, prosecutors and police say. https://t.co/993P7gG7Dg — The Washington Post (@washingtonpost) May 26, 2025

Reactions poured in, with netizens expressing shock and disgust over the incident. One user commented, “this sounds almost as bad as listening to someone talk about crypto.” Another wrote, “This is the worst matrix simulation.” Some users online demanded, “capital punishment for such an evil crime.”

“Crypto kidnapping crimes are on the rise worldwide. Don't advertise your holdings on the internet,” suggested one user. Another quipped, “This is why you don't keep your seed phrase in your iCloud or tell strangers you hodl.”

This is why you don't keep your seed phrase in your iCloud or tell strangers you hodl.
-admin — Crypto Head (@CryptoHeadio) May 26, 2025

this sounds almost as bad as listening to someone talk about crypto https://t.co/yBmrAWsufE — Will Nevin, Time Pilot (@willnevin) May 26, 2025

This is the worst matrix simulation. https://t.co/o9ZGRI4DSl — SmartDissent (@smartdissent.bsky.social) (@smartdissent) May 26, 2025

Capital punishment for such a evil crime. — Yokie (@YokieYii) May 26, 2025

Crypto kidnapping crimes are on the rise worldwide.
Don't advertise your holdings on the internet.

A crypto investor in Manhattan, New York, has been charged with kidnapping & torturing a 28-year-old man for weeks to extract his BTC wallet passwords.

https://t.co/vXcqwXyABi — ROGUΞ ☠️ MΞΔNS (@RogueMeans) May 26, 2025

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Cover: Patrick Gawande / Mashable India