Bitcoin Ransom Plot: Tourist Kidnapped in Soho Townhouse

Crypto News Regulation

Bitcoin Ransom Plot: Italian Tourist Kidnapped in Soho Townhouse

Written by Aaron S.,

Editor-In-Chief

Last Updated: May 26, 2025

Key Takeaways

John Woeltz was arrested in Manhattan for allegedly kidnapping an Italian tourist to steal his cryptocurrencies;
The victim says he was abused for weeks in a Soho townhouse after refusing to give his Bitcoin wallet password;
Woeltz faces four felony charges and remains in jail without bail, and his next court date is May 28.

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Bitcoin Ransom Plot: Italian Tourist Kidnapped in Soho Townhouse

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John Woeltz, a 37-year-old man living in Manhattan, has been arrested and charged after abducting an Italian visitor to get access to his cryptocurrencies, according to a May 24 report by The New York Times.

The victim, a 28-year-old man, had arrived in the US on May 6. He was reportedly taken by Woeltz and another person and held inside a rented townhouse in Soho.

The building, which costs about $30,000 a month, became the site of what police describe as weeks of physical abuse. Officers said the man’s passport and electronics were taken, and Woeltz demanded the password to his Bitcoin BTC $92,292.08 wallet. When the man refused, he was allegedly attacked and threatened repeatedly.

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The victim told police he was punched, shocked with electricity, hit with a gun, and hung from one of the upper floors of the townhouse. He also claimed that Woeltz tortured and forced him to smoke crack cocaine. The man said threats were also made against his family.

Photos found in the home, including Polaroids, appear to show signs of ongoing abuse and may support the victim’s statements. The man eventually managed to escape on May 23 and contact the police.

Woeltz was charged with four felonies, including kidnapping for ransom. At a court hearing, he pleaded not guilty. The judge ordered that he remain in jail without bail, while his next court date is set for May 28.

On May 15, US authorities announced charges against 12 individuals between the ages of 18 and 21. What happened? Read the full story.