Second Crypto Investor Arrested for Kidnapping and Torture in NYC
On Wednesday, May 28, 2025, AP News reported that a second cryptocurrency investor has been charged in connection with the kidnapping and torture of a man in New York City. William Duplessie, 32, surrendered to authorities on May 27, facing multiple charges including kidnapping, assault, unlawful imprisonment, and criminal possession of a weapon.
The allegations stem from an incident involving a 28-year-old Italian national who claims he was held captive for nearly three weeks in a luxury townhouse in Manhattan. During this time, he reported severe physical abuse, including beatings, drugging, and threats to his life, all in an effort to extract the password to his Bitcoin account.
The victim managed to escape from the townhouse, shortly after which John Woeltz, 37, another cryptocurrency investor, was arrested and charged in connection with the same kidnapping. The two men allegedly lured the victim to the upscale location in Manhattan’s Soho neighborhood on May 6, with plans to steal his cryptocurrency assets.
According to police, the victim described a harrowing ordeal in which he was bound, electrocuted, and physically assaulted, including being pistol-whipped and having a leg injured with a saw. He was forced to smoke from a crack pipe and was reportedly dangled from a staircase. Fearing for his life, the victim agreed to provide the kidnappers with access to his Bitcoin password.
As Duplessie and Woeltz sought to retrieve the victim’s computer, he seized the opportunity to flee and flagged down a traffic agent outside the townhouse. A subsequent search of the property uncovered a significant amount of evidence, including cocaine, a saw, body armor, night vision goggles, ammunition, and disturbing photographs of the victim in compromising situations.
The victim was hospitalized with various injuries, including marks consistent with being bound and cuts to his face. Law enforcement officials noted that this case is part of a broader trend of increased violence and crime associated with cryptocurrency thefts, which have surged in recent years.
This incident follows other violent crimes linked to cryptocurrency, including a recent attack in Paris where the father of a crypto entrepreneur was rescued after his finger was severed by kidnappers. In another case, an attempt was made to abduct the daughter of a cryptocurrency figure in broad daylight.
In August of the previous year, a ransom plot in Danbury, Connecticut, resulted in a couple being forcibly removed from their vehicle as part of a scheme targeting their son, who was implicated in a significant cryptocurrency heist.
A report from the FBI noted that reported losses related to internet crime reached $16.6 billion in 2024, marking a nearly 30% increase from the previous year. Victims of cryptocurrency theft accounted for over $6.5 billion of these losses, highlighting the growing risks faced by those involved in digital currency investments.
As investigations continue, both Duplessie and Woeltz remain in custody, facing serious charges that could result in lengthy prison sentences. The increasing prevalence of such violent crimes underscores the need for heightened awareness and security measures within the cryptocurrency community.
Source: AP News
