A cryptocurrency mogul worth an estimated £73 million has been arrested in New York following harrowing allegations that he abducted and tortured an Italian tourist for weeks.
John Woeltz, 37, is accused of imprisoning the man inside his luxury Soho townhouse – a flat that reportedly costs $75,000 per month – and subjecting him to horrific abuse in a plot to access his cryptocurrency fortune.
The victim told police he met Woeltz on 6 May and later went back to the townhouse. But events quickly took a dark turn. According to reports, Woeltz seized the man’s passport and began a prolonged period of violence and intimidation.
The Italian tourist claimed he was:
- Hung over a five-storey stairwell
- Electrocuted with a taser while standing in water
- Pistol-whipped
- Threatened with dismemberment by chainsaw unless he handed over his crypto access
Disturbingly, the abuse was recorded. Authorities found Polaroid photos of the man tied to a chair, apparently documenting his suffering.
The ordeal came to an end when the victim managed to flee the property and flag down a nearby police officer. He was rushed to the hospital for treatment.
Shortly after, a SWAT team stormed the Soho residence and arrested Woeltz. The crypto boss now faces charges of assault and unlawful imprisonment, though he denies any wrongdoing.
His family has come to his defence, insisting he’s a victim himself. “He was hijacked and manipulated and scammed. I think they stole his money as well. He is kind, caring and loving – but controlled by other people,” a relative told the New York Post.
This is not an isolated case. The incident adds to a growing trend of violent crimes linked to digital currency.
In February, three British men were arrested in Spain for kidnapping a fellow cryptocurrency broker. The victim had been lured to a Costa del Sol apartment with the promise of drinks. Once inside, he was threatened with torture unless he transferred €30,000 (£25,000) from his clients’ crypto accounts.
Similarly, in London, software developer Jacob Irwin-Cline from Oregon reported having over $120,000 stolen after being drugged by a man he mistook for an Uber driver.
After accepting a cigarette from the supposed driver, Irwin-Cline said he blacked out. When he regained consciousness, his phone – and access to his life savings – was gone.
“Devil’s Breath,” a notorious sedative linked to such crimes, is suspected in the incident. With the surge of high-value crypto transactions and decentralised finance, experts warn that such wealth is becoming a magnet for criminals.
As law enforcement grapples with these evolving tactics, victims like the Italian tourist in New York serve as a grim reminder of how digital riches can attract very real dangers.
