Crypto entrepreneur arrested for kidnapping and torturing his ex-business associate with chainsaw and cocaine

A Kentucky crypto entrepreneur has been arrested and faces extreme fees after allegedly kidnapping and torturing an Italian vacationer with a chainsaw and different brutal strategies to pressure him at hand over crypto account passwords, police sources informed the New York Put up.

The suspect, John Woeltz, was taken into custody on Friday after the Italian sufferer made an escape from a luxurious SoHo townhouse, the place he had allegedly been held captive and abused for greater than two weeks.

The person managed to interrupt free from his restraints, flee the residence, and flag down a close-by police officer to report the torture. Sources stated he made the transfer fearing he could be killed on Friday.

The 28-year-old sufferer informed investigators he was Woeltz’s former enterprise associate, however a falling out led him to go away the nation.

He flew again to the US on Might 6, reportedly at Woeltz’s urging, and went straight to the brownstone on Prince Avenue, the place the ordeal started.

Chainsaw, Polaroids, and blood discovered at scene

As soon as police obtained the report, officers from the fifth Precinct rushed to the Prince Avenue property and uncovered a chilling scene with bloodstains, damaged furnishings, and disturbing proof strewn all through the multi-million-dollar rental.

There was a Polaroid picture exhibiting the sufferer certain and gagged with electrical cords, and an image of him tied to a chair with a gun pointed at his head, in keeping with investigators.

The sufferer had been allegedly Tased, pistol-whipped, and compelled to take cocaine, whereas Woeltz threatened to chop off his limbs with an electrical chainsaw until he handed over entry to his crypto holdings.

Police additionally recovered a number of objects from the scene, together with a chainsaw with obvious blood residue, a bulletproof vest, evening imaginative and prescient goggles, and a firearm. An Apple AirTag was allegedly positioned across the sufferer’s neck to trace his actions and deter escape.

The sufferer was transported to Bellevue Hospital for therapy, the place his situation was confirmed to be steady.

Woeltz was arrested on the scene, reportedly carrying a bathrobe. Plenty of fees are being introduced towards him, together with two counts of second-degree assault, a first-degree kidnapping, an illegal imprisonment within the first diploma, and felony possession of weapons within the first diploma.

NYPD law enforcement officials take away John Woeltz, 37 from a house on Prince St. close to Mulberry St. in Manhattan on Friday, Might 23, 2025, after an Italian man claimed he was held towards his will on the location for 3 weeks.https://t.co/8SVK0hX7uq pic.twitter.com/rFhWuapyXr

— ꧁𝐸𝒾𝓁𝒶𝓉𝒶𝓃𝟠𝟟♱꧂ (@Eilatan87) May 24, 2025

Police have additionally arrested Beatrice Folchi, believed to be concerned within the kidnapping and torture. A 3rd male suspect stays at massive, with legislation enforcement actively looking for him.

Investigators are additionally interviewing two butlers who labored within the Prince Avenue townhouse and will have witnessed some points of the crime.

Who’s John Woeltz?

Earlier than his title surfaced in reference to the surprising kidnapping and torture case in Manhattan, Woeltz was identified in crypto circles as a security-minded developer and early adopter of digital property.

A former core workforce member of Grin, a privacy-focused crypto venture, Woeltz performed an necessary position in its early improvement. He formally joined the Grin core workforce in March 2020 after serving to set up the venture’s first safety audit.

He additionally appeared publicly at Grincon 2019, the place he spoke in regards to the dangers that privateness tasks face with out rigorous safety practices.

Regardless of his prior visibility, his GitHub exercise seems to have dropped off after 2020, and his present affiliation with Grin is unclear.

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