Crypto shock in SoHo: kidnapping and torture over Bitcoin!

Crypto shock in SoHo: kidnapping and torture over Bitcoin!

In New York City, police have uncovered a harrowing case of kidnapping, torture and attempted cryptocurrency heist. John Woeltz, a 37-year-old cryptocurrency investor from SoHo, has been arrested and is suspected of torturing a 28-year-old man for over two weeks to obtain his Bitcoin wallet. The incident began on May 6 when the victim met Woeltz and another man, who has not yet been identified. The perpetrators confiscated the victim's electronic devices and his passport before demanding the password to his Bitcoin wallet.

When the victim refused, brutal torture followed. He was reportedly beaten with a gun, held to his head, and given electric shocks with an electric cord. His wrists were also tied and the perpetrators threatened to throw him off a staircase. To increase the pressure, threats were also made against the victim's family. Eventually, the victim managed to escape Woeltz's apartment on Prince Street and notified the NYPD. The Manhattan District Attorney's Office has filed charges of kidnapping, assault, false imprisonment and illegal possession of a weapon.

The background to the incident

The risk of such incidents has increased in recent years, particularly with the increasing popularity of cryptocurrencies. Experts warn that the market's rapid growth poses risks for digital currency owners. The incidents are consistent with the activities of criminals in various countries trying to profit from the high values ​​of cryptocurrencies.

Another notable incident that may be related to cryptocurrency scams involves a group of Germans operating in the United States. Horst J., Ralf G. and Mike K. founded the company USI-Tech and promised investors high profits through the purchase of “Bitcoin packages”. However, the company was classified as a criminal pyramid scheme that drained investors' money without any real return. Around 140 million euros in Bitcoin and Ether allegedly disappeared from the private accounts of Horst J., who went into hiding along with the other co-founders in 2018.

Horst J. was arrested upon entering the USA at the end of 2023 and placed under house arrest in New York after the investigation had previously been kept secret. However, on October 10, 2023, prosecutors announced that he tampered with his ankle bracelet and fled. This escape is the current climax of a fraud scandal that received little attention in Germany. Horst J.'s family claims to live in Baden-Württemberg and deposited a deposit of one million euros in New York; Now a total sum of over five million euros could be due, while Horst J. remains missing.

These cases illustrate the dangers and legal challenges associated with owning and trading cryptocurrencies. Growing popularity can also attract criminals, leading to increasingly drastic measures to gain wealth.

Police in New York continue to search for the second suspect involved in the torture as the investigation continues. The incidents highlight not only the risks of the crypto market, but also the need for increased security measures for investors in digital currencies.