Two men implicated in a harrowing Bitcoin extortion and kidnapping case targeting a cryptocurrency trader in New York City have been granted bail. John Woeltz and William Duplessie face allegations of forcibly detaining an Italian crypto investor for weeks, subjecting him to severe physical abuse and death threats to coerce Bitcoin transfers.
The victim ultimately escaped captivity, leading to Woeltz’s immediate arrest at the scene. Duplessie was subsequently apprehended in a separate operation. Legal proceedings are advancing with the next court hearing scheduled for October 15.
This case underscores escalating security vulnerabilities for high-net-worth individuals within the digital asset ecosystem. Recent incidents suggest criminals increasingly exploit crypto transactions for extortion, prompting heightened safety concerns among affluent investors.