Bitcoin Horror in Manhattan: Kidnapping and Torture for Crypto Keys

A Manhattan-based cryptocurrency investor, John Woeltz, has been taken into custody on charges related to the kidnapping and torture of an unidentified Italian man. The victim, lured to an upscale apartment, was subjected to weeks of abuse as his captors demanded access to his Bitcoin funds.

Court records reveal Woeltz, aged 37, was apprehended following the victim's dramatic escape. The victim managed to flee and seek help from a traffic officer, leading to Woeltz's arrest and arraignment on charges including kidnapping, assault, and unlawful imprisonment. Prosecutors presented a disturbing picture, detailing the torturous conditions inside the eight-bedroom townhouse.

The investigation uncovered a cache of incriminating items such as drugs, weapons, and shocking images. Authorities caution that Woeltz poses a flight risk due to access to private jets. His next court appearance is scheduled for the following week, as the case continues to unfold.

(With inputs from agencies.)