Published: May 27, 2025 ✍️ Author: Global World Citizen Cybersecurity Desk 🌐 Source: GlobalWorldCitizen.com 📍 Category: Crypto Crime & Global Security
A disturbing case of crypto-fueled crime continues to unfold in New York, where two cryptocurrency investors have been charged with kidnapping, torture, and attempted extortion after allegedly detaining a wealthy crypto trader in a Manhattan townhouse for three weeks.
The incident highlights the growing global trend of real-world abductions targeting cryptocurrency holders, shaking investor confidence and raising alarm bells in the international digital asset space.
What We Know: Second Suspect Surrenders
William Duplessie, former CEO of a Swiss crypto investment firm, surrendered to NYPD on Tuesday
Duplessie is expected to be charged with kidnapping and unlawful imprisonment
John Woeltz, 37, was arraigned Saturday in a Manhattan court on five charges, including kidnapping, assault, and unlawful imprisonment
The suspects allegedly tortured the victim in a bid to gain access to his crypto wallet password
Prosecutors said the suspects used physical violence, electric shocks, and firearm threats to try to extract the victim’s private keys.
The Scene: Nolita Townhouse Turned Torture Site
The incident began on May 6, when the victim — an associate of the suspects — arrived at a luxury townhouse in Manhattan’s Nolita neighborhood.
According to the criminal complaint:
Woeltz confiscated the victim’s devices and passport
Demanded access to private crypto wallet credentials
Tortured the victim using electric wires, blunt force, and firearm intimidation
Threatened to kill the victim and his family if he didn’t comply
The victim ultimately escaped and flagged down a uniformed NY traffic agent, triggering a full police response.
Crypto Kidnapping: A Rising Global Threat
This case is just the latest in a growing pattern of global crypto-related abductions as criminals shift from online hacks to physical coercion.
Recent Incidents:
Connecticut: Lamborghini-driving couple kidnapped by six men seeking crypto ransom
France: At least five crypto abductions reported in recent months- Texas: Home invasion targeting a female crypto influencer in Houston
As crypto investors move assets offline (cold wallets) to protect from cyber attacks, they become more vulnerable to physical violence and extortion.
Legal Fallout & International Implications
Woeltz, from Kentucky, is being held in a New York City jail
His past work includes contributions to privacy-preserving blockchain protocols
Duplessie’s international ties raise questions about cross-border crypto regulation and financial crime networks
The Manhattan District Attorney’s office is treating the case as a serious criminal operation targeting financial assets through physical coercion, part of a growing category of crypto-related violent crime.
GlobalWorldCitizen.com Insight
This incident underscores a harsh new reality for the global crypto elite:
Where digital wealth goes, danger often follows.
As blockchain-based fortunes grow and asset holders become more public, the threat of physical kidnapping and extortion is now part of the crypto risk landscape.
At GlobalWorldCitizen.com, we continue to monitor and report on the evolving intersections of digital finance, crime, and global security.