NYC Crypto Kidnapping: Defendants Plead Not Guilty

John Woeltz and William Duplessie pleaded not guilty in a New York City court on accusations of kidnapping a 28-year-old man for his Bitcoin holdings.

The event underscores the increasing risks in crypto trading circles and highlights the need for security vigilance. Financial markets have yet to react significantly.

John Woeltz and William Duplessie face charges including kidnapping, assault, coercion, and weapon possession. The victim, known to the accused, was reportedly targeted for his Bitcoin holdings. This crime is part of a broader pattern of crypto-targeted incidents.

Both John Woeltz, a self-described blockchain investor, and William Duplessie, linked to blockchain companies, remain silent beyond their court pleas. The NYPD has confirmed details of the kidnapping and alleged torture, citing a 17-day ordeal involving physical and psychological abuse.

From what we know now, this was a dispute over crypto money. … [It was] a kidnapping for roughly 17 days, where they tortured this person… forced them to take narcotics, put his feet in water and shocked his feet and other types of torture for 17 days. – John Chell, Chief, NYPD ABC7

The incident has not publicly impacted Bitcoin’s market operations or price. Law enforcement is focused on unraveling the connection between the accused and any other potential victims. There are no reported disruptions in related crypto projects or exchanges.

Potential impacts include strengthened regulatory measures and a push for enhanced asset security. Similar past incidents demonstrate a trend where individuals with significant crypto holdings become targets, prompting discussions on safeguarding digital assets.

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.