Bitcoin Extortion Duo Walks Free, Judge Sets $1M Bail Each

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Bitcoin Extortion Duo Walks Free, Judge Sets $1 Million Bail Each

Written by Aaron S.,

Editor-In-Chief

Last Updated: July 24, 2025

Key Takeaways

Woeltz and Duplessie were released on $1 million bail after being accused of kidnapping a crypto trader;
The victim claimed that he was tortured for weeks as suspects tried to access his Bitcoin;
The defense described the ordeal as "17 days of shenanigans", rather than a criminal act.

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Bitcoin Extortion Duo Walks Free, Judge Sets $1 Million Bail Each

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John Woeltz and William Duplessie have been released on $1 million bail each after being accused of kidnapping and harming an Italian man in a Manhattan townhouse, according to a report by ABC News.

The next court hearing is scheduled for October 15. In the meantime, both men are required to wear ankle monitors, hand over their passports, and report for security checks every 72 hours.

Crime reporter Lauren Conlin, who was present at the hearing, shared on X that the defense described the situation as a form of hazing, not a crime, by referring to it as "17 days of shenanigans".

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The case began on May 6 when a cryptocurrency trader from Italy arrived in New York. Prosecutors said he was taken after landing and held against his will for several weeks.

During that time, the suspects allegedly tried to force him to give up access to his Bitcoin BTC $116,514.84 by using violence and threats.

According to the Manhattan District Attorney’s Office, the man was reportedly beaten, shocked with wires, and hit with a gun. The attackers also told him they would hurt his family if he did not cooperate.

The victim eventually escaped and asked a traffic officer for help. He was taken to the hospital with injuries that matched his story.

Police later arrested Woeltz at the scene. Duplessie turned himself in several days after the escape. Investigators noted that the kidnapping was carefully planned.

Meanwhile, the London gang was convicted after abducting a Belgian barber they wrongly believed was rich in crypto. How did that happen? Read the full story.