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NY Judge Orders $1 Million Bail for Bitcoin Credentials Torture Case
In a shocking turn of events, a New York court has set a staggering $1 million bail for two suspects in a cryptocurrency kidnapping case, allegedly involving the torture and coercion of an Italian man. John Woeltz, 37, and William Duplessie, 32, both U.S. residents and crypto investors, have been charged with first-degree kidnapping, second-degree criminal possession of a weapon, and assault.
According to court documents, the suspects subjected their victim to electrical shocks, pistol-whipping, cuts from a chainsaw blade, and threats with fire over roughly two weeks to extract his Bitcoin password and private keys. The alleged scheme took place in May 2025, with police arresting the pair following a tip-off from a witness who reported suspicious activity at a SoHo townhouse.
In a bizarre twist, defense attorney William Duplessie’s legal team argued that video evidence shows the victim smiling during parts of his confinement, casting doubt on the prosecution’s claims of non-consensual violence. Prosecutors countered by stating that victims under duress may exhibit compliance or apparent calm while being abused, emphasizing the importance of considering the psychological and emotional state of the captive in such situations.
The suspects must post a $1 million bond each to secure their release pending further proceedings. Additionally, they will be required to adhere to GPS monitoring and travel restrictions within New York City limits. The court has ordered the pair to surrender their passports and refrain from contacting the victim or witnesses.
Following the victim’s hospitalization and subsequent recovery from physical injuries, the suspects are scheduled to return to court for a preliminary hearing in August 2025.
The case represents one of the most violent alleged crypto-related crimes prosecuted in New York courts.
Source: coinrevolution.com
