Alleged Bitcoin Kidnappers in NYC Plead Not Guilty, Claim Victim's Demeanor Contradicted Accusations

Crypto Kidnapping Nightmare: A Cautionary Tale of the Dangers Facing Investors

Accused Captors Claim Victim's Story Doesn't Add Up, but Evidence Paints a Chilling Picture

Two men accused of violently kidnapping a Bitcoin investor have pleaded not guilty, with their lawyers challenging the victim's account. Yet emerging details reveal a terrifying ordeal that underscores the serious risks cryptocurrency holders face today.

William Duplessie and John Woeltz allegedly abducted a 28-year-old Italian businessman, holding him captive for two weeks in a Manhattan apartment while subjecting him to electric shocks, physical beatings, and gunpoint threats - all to access his cryptocurrency holdings.

Defense attorneys argue the victim was seen "laughing and smiling" during his alleged captivity, even participating in drug use and group sex - claims they say contradict his testimony. But the prosecution presents a different story.

Damning Evidence Corroborates Victim's Account

Investigators discovered disturbing evidence supporting the victim's account, including:

• A chainsaw and loaded pistol in the apartment
• Photos showing the victim with a gun to his head
• Images of the victim being set on fire (though no burns were found as the defendants allegedly extinguished the flames by urinating on him)

This case highlights the growing threat of physical violence against crypto investors. As digital assets gain value, criminals increasingly resort to brutal tactics to steal them - turning the "$5 wrench attack" cybersecurity joke into a frightening reality.

A Broader Trend of Crypto-Fueled Violence

This isn't an isolated incident. Recent attacks on crypto industry leaders like Ledger CEO David Balland and Paymium CEO Pierre Noizat's family demonstrate the dangers in this space. Shockingly, 2025 has already seen nearly as many documented "wrench attacks" as all of 2024 combined.

As cryptocurrency goes mainstream, investors must prioritize security and stay informed about evolving threats. This kidnapping case serves as a stark warning about the real-world dangers in the crypto ecosystem.