Introduction to the Crypto King Case

An investigation continues into a Manhattan case seemingly right out of a movie, the details of which are as shocking as they are disturbing.

The Allegations Against the Crypto King

A 37-year-old man, known by some as the "crypto king of Kentucky," was charged with kidnapping and torturing an Italian man, accused of holding him captive inside a posh, six-story townhouse in the Manhattan neighborhood of Nolita for weeks in an attempt to get the man’s Bitcoin password, according to law enforcement sources.

The Arrest and Charges

John Woeltz was arrested Friday and arraigned on charges of kidnapping, unlawful imprisonment and assault, among other charges. He and a business partner spent weeks torturing a third business partner, an Italian citizen, who came to New York City on May 6, law enforcement sources said.

The Torture and Captivity

Investigators believe the relationship among the three men had been tumultuous in the past, but came to a head when the Italian arrived early in the month.
Woeltz and the partner allegedly took the victim’s passport and electronic devices, then demanded he give them his Bitcoin password. When the 28-year-old refused to comply, that’s when the torture started, police said.
He was bound by his wrists, pistol-whipped, had a gun held to his head, a chainsaw used on his leg, and urinated on. His captors also dangled him off the building as threatened his family.

After 17 days inside the torture chamber of the "Crypto King," the victim finally managed to escape on Friday. Police said they found him covered in cuts and bruises, with ligature marks on his wrists from being bound.

The Search for the Other Suspect

While Woeltz was taken into custody, detectives are still searching for the other business partner involved.

Evidence Found at the Scene

Following the arrest of Woeltz, investigators allegedly found a trove of evidence at the rented out home. Law enforcement sources said they turned up multiple Polaroid pictures of the victim being tied up and tortured. Investigators also reportedly recovered a gun and several torture items.

The Crypto King’s Background

Authorities believe Woeltz is a big-name crypto currency trader from Kentucky with an estimated worth around $100 million. He had reportedly been renting out the Nolita residence at a monthly rate of at least $30,000.
The luxury six-story townhouse had an elevator and was described by sources as a high-end frat house with bottles of liquor strewn about and stripper poles in the basement. Neighbors said they could hear loud partying at all hours of the night, but they had no idea of the alleged torture going on within its walls.

The Aftermath

Woeltz was ordered held without bond. His attorney did not speak to the media after arraignment on Saturday.

The case is a shocking reminder of the extreme measures some individuals will take to get what they want, and the importance of prioritizing safety and security in all aspects of life.

Conclusion

The Crypto King case is a disturbing example of the lengths to which some individuals will go to achieve their goals. The use of torture and coercion to obtain sensitive information is a serious crime, and it is essential that those responsible are brought to justice.

FAQs

Q: Who is the Crypto King?
A: The Crypto King, also known as John Woeltz, is a 37-year-old man from Kentucky who is accused of kidnapping and torturing an Italian man to obtain his Bitcoin password.
Q: What were the allegations against the Crypto King?
A: The Crypto King was accused of kidnapping, unlawful imprisonment, and assault, among other charges.
Q: How did the victim escape?
A: The victim managed to escape after 17 days of captivity, and was found by police with cuts and bruises, and ligature marks on his wrists.
Q: What evidence was found at the scene?
A: Investigators found multiple Polaroid pictures of the victim being tied up and tortured, as well as a gun and several torture items.
Q: What is the Crypto King’s background?
A: The Crypto King is a big-name crypto currency trader from Kentucky with an estimated worth of around $100 million.