- Main event involves a 17-day crypto-related kidnapping.
- Bitcoin was targeted during the incident.
- Two NYPD detectives are under investigation.
Two men have pleaded not guilty in a New York City court over allegations of kidnapping and torturing an individual for crypto. The incident involved a 17-day ordeal beginning May 6, 2025, at a SoHo townhouse.
Background of the Incident
John Woeltz and William Duplessie are accused of torturing a victim to obtain access to Bitcoin holdings. NYPD Chief John Chell described actions, including the use of narcotics and electroshock, over the 17-day period:
“From what we know now, this was a dispute over crypto money… this was a kidnapping for roughly 17 days, where they tortured this person.”
The incident has not had a measurable effect on cryptocurrency markets or blockchain infrastructures. Bitcoin, the crypto involved, remained unaffected on-chain. Two detectives are on leave; their roles are under review.
Wider Implications
The case underscores risks in holding large crypto amounts personally rather than through secure institutional channels. While no current regulatory changes have emerged, the need for enhanced cryptocurrency holder protections is emphasized.
Although the event is isolated, it showcases concerns for crypto security and the challenges law enforcement faces. As legal processes unfold, industry observers monitor potential security protocol advancements and policy updates.
| Disclaimer: The content on The CCPress is provided for informational purposes only and should not be considered financial or investment advice. Cryptocurrency investments carry inherent risks. Please consult a qualified financial advisor before making any investment decisions. |
