Authorities in New York have charged a second man, William Duplessie, in connection with the harrowing kidnapping and torture of a 28-year-old Italian cryptocurrency holder.
Duplessie, a 32-year-old crypto entrepreneur and co-founder of Pangea Blockchain Fund, surrendered to police this week.
Currently he faces a series of serious charges including kidnapping, assault, unlawful imprisonment, and criminal possession of a weapon.
His arrest comes just days after his alleged accomplice, John Woeltz, 37, was taken into custody following the victim’s dramatic escape from an upscale Manhattan townhouse.
Prosecutors say both men are part of a calculated scheme to steal the victim’s Bitcoin by violently coercing him into revealing his wallet password.
Victim Tortured for 17 Days in Soho Townhouse
The incident, which took place inside an eight-bedroom townhouse in Manhattan’s wealthy Soho neighborhood, unfolded over 17 days beginning on May 6.
According to police, Duplessie and Woeltz lured the victim under false pretenses, then imprisoned and tortured him in a brutal attempt to gain access to his cryptocurrency holdings.
One of the suspects known as Woeltz, has often affiliated himself to being a blockchain expert in most interviews.
The victim reported being pistol-whipped, electrocuted, cut with a saw, forced to smoke from a crack pipe.
Furthermore, the victim was even dangled from the top of a staircase, all while bound by the wrists and threatened with death.
His ordeal ended only when he managed to flee the house barefoot and bloodied, flagging down a traffic officer for help.
Evidence Uncovered Paints Grim Picture of Abuse
Following the victim’s escape, law enforcement searched the townhouse and uncovered a disturbing cache of evidence that supports the victim’s claims.
Items recovered include cocaine, ammunition, a saw, chicken wire, body armor, night vision goggles, and polaroid photos showing the victim at gunpoint.
Prosecutors also found physical injuries consistent with prolonged captivity, including deep wrist wounds and facial lacerations.
These findings underscore the increasing risks faced by high-profile cryptocurrency investors, who are becoming targets not only for cybercrime but also for real-world violence.
Also Read: Spanish Businessman Kidnapped by Fake Police in São Paulo; Faces $50M Crypto Theft
Rise in Crypto-Related Crimes Reflects Growing Dangers
This case is one of several recent high-profile incidents highlighting the dangers facing individuals involved in the cryptocurrency space.
From Paris to Connecticut, reports of violent abductions and ransom plots have become increasingly common.
Earlier this month, attackers in Paris mutilated the father of a crypto entrepreneur during a kidnapping, while another failed attempt was made to abduct a crypto investor’s daughter in broad daylight.
According to the FBI, internet-related crimes caused $16.6 billion in losses in 2024, with $6.5 billion linked specifically to cryptocurrency theft.
As digital wealth grows, so too does the real-world danger, emphasizing the urgent need for better security and regulatory protection for crypto investors.
Also Read: Six Men Charged In Chicago Kidnapping And $15M Crypto Ransom Scheme