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Crypto drama in New York: kidnapping with torture and Bitcoin blackmail!
Kidnappings in the crypto sector: Two cases shed light on the dark machinations behind cryptocurrencies and their risks.
Crypto drama in New York: kidnapping with torture and Bitcoin blackmail!
In a horrifying case of kidnapping and torture in New York, police have arrested a 37-year-old cryptocurrency trader from Kentucky named John Woeltz. The investigation shows that Woeltz, also known as the “Crypto King,” held an Italian businessman captive in Manhattan along with a business partner. The kidnappers' main aim was to extort the password to the victim's Bitcoin wallet, with the relationship between the three business partners described as strained. The Italian partner had arrived in New York at the beginning of May when the situation escalated.
Woeltz and his accomplice not only took the victim's passport, but also his electronic devices. The aggression towards the abductee reached a cruel climax when he was threatened with a pistol and injured in the leg with a chainsaw. After more than two weeks of painful captivity, the victim finally managed to escape. When it was found by the police, it was badly injured and showed signs of shackles.
Finds in the townhouse
As part of the investigation, police searched Woeltz's luxurious Nolita estate, which he rented for at least $30,000 a month. Investigators discovered evidence including Polaroid photos of the torture, a weapon and various torture instruments. Neighbors described the building as a party hotspot and suggested that Woeltz may have amassed a fortune of around $100 million. Despite the arrest of Woeltz and his accomplice, police are still looking for a third business partner who was involved in the kidnapping.
This case highlights the dark side of cryptocurrency trading and shows how criminal activity in this area is increasing. The authorities hope to find out more details about the background and possible other accomplices through the ongoing investigation.
Hijackings in the crypto space
In the context of the crypto industry, it is worth noting that Woeltz's case is not isolated. On January 21, 2023, David Balland, co-founder of the crypto company Ledger, and his wife were kidnapped in Méreau, France. The kidnappers demanded a significant ransom in cryptocurrency. Balland was freed on January 22nd, but he suffered serious injuries during the kidnapping; his finger was cut off. His wife was found in a car on January 23, tied up but unharmed.
The kidnappers were arrested based on their actions and police history. Modern technologies play a role here, as a WhatsApp account and a VPN were used for communication. In a bold move, investigators sent a Bitcoin worth about 100,000 euros to buy time and trace the transaction. Ledger CEO Pascal Gauthier expressed relief at the couple's release and underscored the dangers facing crypto entrepreneurs.
In conclusion, current incidents highlight an alarming trend: the merger of cryptocurrency and criminal activities poses significant risks for everyone working in this industry.