Second Suspect Joins Allegations of Torture in NYC Crypto Kidnapping Case

NEW YORK — A second suspect in the alleged kidnapping and torture of an Italian man has turned himself in to police in New York City.

The suspect, who has not been publicly identified, surrendered to the NYPD on Tuesday, according to law enforcement sources. They expect him to face charges similar to those against John Woeltz, a 37-year-old crypto entrepreneur arrested last Friday.

Woeltz, often referred to as the “crypto king of Kentucky,” has been charged with kidnapping, unlawful imprisonment, and assault after allegedly holding the victim hostage for over two weeks in a luxurious Nolita townhouse.

Police say the unnamed victim arrived in New York from Italy on May 6, expecting to meet with Woeltz and another business associate. Once at the townhouse, he was reportedly stripped of his passport and devices, and tortured when he refused demands for his Bitcoin password.

During the weeks of captivity, the victim faced horrific torture methods, including being bound and pistol-whipped. Authorities reported that he was threatened with a chainsaw and even dangled off a building. He managed to escape on May 19, leading to Woeltz’s arrest.

After Woeltz’s arrest, detectives found an array of evidence at the townhouse, including Polaroid photos documenting the abuse and torture devices. A gun believed to have been used during the ordeal was also recovered.

The apartment, rented for more than $30,000 a month, has been described by neighbors as a party house, with loud gatherings frequently taking place.

The investigation into the circumstances surrounding the victim’s kidnapping remains ongoing, with authorities looking into the possibility of additional suspects. Woeltz is being held without bail and is scheduled to appear in court again this week.