Bitcoin Brutality: Duo Pleads Not Guilty in Crypto Kidnapping Horror

In a chilling case that reads like a scene from a crime thriller, two men have pleaded not guilty to the brutal kidnapping and torture of a Bitcoin investor over his wallet password.

The crypto world is on edge as kidnappings targeting high-rollers in the digital currency space are skyrocketing. On June 11, John Woeltz, 37, and William Duplessie, 33, stood before a judge and denied charges of snatching a Bitcoin investor and trying to crack his wallet's secrets.

Prosecutors claim these two kept their victim in a swanky SoHo apartment in New York, subjecting him to three weeks of hell starting May 6. They allegedly beat him, shocked him with electric wires, and dangled him over a staircase. The investor only escaped by a hair's breadth, leaving his captors empty-handed.

Their twisted goal? To wring the Bitcoin wallet password from him, gaining control over a fortune in crypto. If convicted, Woeltz and Duplessie are staring down the barrel of a life sentence for their savage crimes.

Bitcoin Kidnappings: A Growing Nightmare for Crypto Kings

The stakes are sky-high for big-name Bitcoin and crypto investors, who've become prime targets for kidnappers. Unlike swiping a credit card, once crypto's gone, it's gone for good. No chargebacks, no refunds, just a digital trail leading to a fortune vanished into thin air.

That's why kidnappers are gunning for those with deep pockets in the crypto world. France has turned into a hotbed for these crypto kidnappings, with at least six chilling incidents reported by May 2025.

It's not just investors in the crosshairs; their families are at risk too. In a shocking move, masked thugs in France tried to snatch the daughter and grandson of Pierre Noizat, the head honcho at crypto exchange Paymium.

Crypto holders are on high alert, learning fast to keep their assets under wraps and their balances off the radar. For those with hefty holdings, cold storage or trusted custodians are becoming must-haves to keep their digital wealth out of the hands of ruthless attackers.