Crypto Investor Allegedly Tortured Tourist With a Chainsaw To Steal His Password

A Kentucky-based cryptocurrency investor has been accused of torturing an Italian tourist in a high-end New York City apartment.

What Happened: The accused, 37-year-old John Woeltz, was taken into custody after the 28-year-old victim managed to escape from the SoHo apartment on Friday morning and informed a police officer.

The victim alleged that he had been held captive for more than two weeks. The alleged motive behind this horrifying act was to extort the victim’s cryptocurrency account password.

Upon investigation, police found several Polaroid photos in the Prince Street apartment, which Woeltz rented for an estimated $30,000 to $40,000 per month.

These photos depicted the victim undergoing various forms of torture. The victim was reportedly tied up with an electric cord, Tased, pistol-whipped, forced to consume cocaine, and threatened with an electric chainsaw, reports the New York Post.

The conflict reportedly stemmed from a cryptocurrency dispute, with Woeltz trying to extort millions of dollars from the victim through a series of gruesome tortures.

Also Read: Man Gets Prison Time After Feds Discover $3.4B In Stolen Bitcoin Hidden Inside Cheetos Popcorn Tin

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Post the incident, the victim was immediately taken to Bellevue Hospital for medical attention, while Woeltz was arrested and charged with multiple offenses including second-degree assault, first-degree kidnapping, and criminal possession of a weapon.

Along with Woeltz, 24-year-old Beatrice Folchi from Manhattan was also arrested and charged with first-degree kidnapping and first-degree unlawful imprisonment. Two other individuals believed to be associated with Woeltz are expected to be interviewed by the police soon.

Why It Matters: This incident underscores the potential risks and dangers associated with the cryptocurrency market. It serves as a grim reminder that while digital currencies offer numerous benefits, they can also be a target for criminals due to their high value and relative anonymity.

As the popularity of cryptocurrencies continues to rise, it is crucial for investors to ensure the security of their digital assets and be aware of the potential risks involved.

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Image: Shutterstock/ozrimoz