July 25, 2025
5 min read
WESH
Two suspects in a NYC crypto kidnapping and torture case were granted M bail each after pleading not guilty to multiple charges.
Two men accused of torturing and holding a man hostage in a Manhattan townhouse for several weeks as they tried to access his cryptocurrency were granted bail Wednesday.
New York Supreme Criminal Court Judge Gregory Carro set bail at $1 million each for John Woeltz, 37, and William Duplessie, 33, who have been in custody since their arrest in May. Both pleaded not guilty to multiple charges, including kidnapping, assault, and coercion.
The victim, a 28-year-old Italian cryptocurrency trader, arrived in New York City from Italy in early May and was abducted on May 6. It remains unclear whether he knew the men who kidnapped him.
Prosecutors stated the victim was tortured for days, threatened with death, and at one point dangled over a railing unless he revealed his Bitcoin password. When he refused, he was beaten, shocked with electric wires, and struck in the head with a firearm. His wrists were bound, and threats were made against his family.
In late May, the victim escaped the apartment after agreeing to provide his password, which was stored on a laptop in another room. When one suspect turned his back, the victim fled and sought help from a traffic officer. He was hospitalized and treated for injuries consistent with his account of assault and being bound.
Woeltz, a Kentucky native and cryptocurrency investor, was arrested following the victim's escape. Duplessie, a Miami resident, turned himself in the following week.
A search of the townhouse uncovered cocaine, a saw, chicken wire, body armor, night vision goggles, ammunition, and Polaroid photos of the victim with a gun pointed to his head.
As of the latest update, both men remain in custody. Their next court appearance is scheduled for October 15.
CNN has reached out to the Manhattan District Attorney’s Office for further comment.
Source: WESH - Manhattan Cryptocurrency Kidnapping Suspects Granted Bail (Published July 25, 2025)