Cryptocurrency Conundrum: Manhattan Kidnapping Unveiled

In a shocking case that highlights the dark side of cryptocurrency wealth, two men, John Woeltz and William Duplessie, have pleaded not guilty to charges of kidnapping an acquaintance in Manhattan's SoHo neighborhood. The pair allegedly held the victim for three weeks at a townhouse, where they subjected him to brutal torture in an attempt to obtain his bitcoin password.

During the court hearing in front of Justice Gregory Carro, prosecution described horrific details of the alleged crime, including the use of a chainsaw and setting the victim on fire after being doused in tequila. However, the defense counters the narrative, claiming the victim was willingly involved in activities suggesting no coercion or restraint.

This disturbing incident, amid a series of similar cryptocurrency-related kidnappings in France, has spurred concerns among security experts about the rising threats faced by affluent cryptocurrency investors. As the legal proceedings continue, both defendants remain detained without bail until their next court date on July 15.

(With inputs from agencies.)