Crypto entrepreneur arrested for kidnapping and torturing his ex-business associate with chainsaw and cocaine

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A Kentucky crypto entrepreneur has been arrested and faces extreme fees after allegedly kidnapping and torturing an Italian vacationer with a chainsaw and different brutal strategies to pressure him at hand over crypto account passwords, police sources advised the New York Submit.

The suspect, John Woeltz, was taken into custody on Friday after the Italian sufferer made an escape from a luxurious SoHo townhouse, the place he had allegedly been held captive and abused for greater than two weeks.

The person managed to interrupt free from his restraints, flee the residence, and flag down a close-by police officer to report the torture. Sources mentioned he made the transfer fearing he can be killed on Friday.

The 28-year-old sufferer advised investigators he was Woeltz’s former enterprise associate, however a falling out led him to depart the nation.

He flew again to the US on Might 6, reportedly at Woeltz’s urging, and went straight to the brownstone on Prince Avenue, the place the ordeal started.

Chainsaw, Polaroids, and blood discovered at scene

As soon as police obtained the report, officers from the fifth Precinct rushed to the Prince Avenue property and uncovered a chilling scene with bloodstains, damaged furnishings, and disturbing proof strewn all through the multi-million-dollar rental.

There was a Polaroid photograph displaying the sufferer certain and gagged with electrical cords, and an image of him tied to a chair with a gun pointed at his head, based on investigators.

The sufferer had been allegedly Tased, pistol-whipped, and compelled to take cocaine, whereas Woeltz threatened to chop off his limbs with an electrical chainsaw until he handed over entry to his crypto holdings.

Police additionally recovered a number of objects from the scene, together with a chainsaw with obvious blood residue, a bulletproof vest, night time imaginative and prescient goggles, and a firearm. An Apple AirTag was allegedly positioned across the sufferer’s neck to trace his actions and deter escape.

The sufferer was transported to Bellevue Hospital for remedy, the place his situation was confirmed to be secure.

Woeltz was arrested on the scene, reportedly sporting a bathrobe. Various fees are being introduced towards him, together with two counts of second-degree assault, a first-degree kidnapping, an illegal imprisonment within the first diploma, and prison possession of weapons within the first diploma.

NYPD cops take away John Woeltz, 37 from a house on Prince St. close to Mulberry St. in Manhattan on Friday, Might 23, 2025, after an Italian man claimed he was held towards his will on the location for 3 weeks.https://t.co/8SVK0hX7uq pic.twitter.com/rFhWuapyXr

— ꧁𝐸𝒾𝓁𝒶𝓉𝒶𝓃𝟠𝟟♱꧂ (@Eilatan87) Might 24, 2025

Police have additionally arrested Beatrice Folchi, believed to be concerned within the kidnapping and torture. A 3rd male suspect stays at giant, with legislation enforcement actively looking for him.

Investigators are additionally interviewing two butlers who labored within the Prince Avenue townhouse and will have witnessed some elements of the crime.

Who’s John Woeltz?

Earlier than his title surfaced in reference to the stunning kidnapping and torture case in Manhattan, Woeltz was recognized in crypto circles as a security-minded developer and early adopter of digital property.

A former core workforce member of Grin, a privacy-focused crypto mission, Woeltz performed an vital position in its early growth. He formally joined the Grin core workforce in March 2020 after serving to arrange the mission’s first safety audit.

He additionally appeared publicly at Grincon 2019, the place he spoke in regards to the dangers that privateness initiatives face with out rigorous safety practices.

Regardless of his prior visibility, his GitHub exercise seems to have dropped off after 2020, and his present affiliation with Grin is unclear.

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