Crypto Trader Accused of Torturing Tourists in $40,000 NYC Apartment

A 37-year-old crypto investor from Kentucky is facing charges after an Italian tourist escaped from weeks of captivity and torture in a luxury Manhattan apartment.

The victim reported to a city transportation worker on May 23rd, leading to the police arrest of John Woeltz at his Nolita residence. Authorities stated that the victim had previous business transactions with Woeltz before a financial dispute led to the alleged kidnapping.

Manhattan Torture Case of a Crypto Trader

Investigators believe Woeltz lured the 28-year-old tourist back to New York under false pretenses. He then seized the man's passport and held him in a high-end Nolita apartment rented for $30,000–40,000 per month.

For at least two weeks of captivity, the victim endured multiple forms of abuse. He was tied up with electrical cords for hours and repeatedly shocked with electricity while his feet were immersed in water.

Moreover, officers reported the use of gun butts and threats with an electric saw.

Additionally, the kidnappers forced the victim to use cocaine and attached an Apple AirTag around his neck to track his movements.

Police recovered Polaroid photos documenting the abuse, along with a gun, night vision goggles, broken glasses, and other torture-related items. The victim suffered a large wound consistent with electric saw trauma.

Who is John Woeltz?

Woeltz appeared in the 2021 annual report of the Kentucky Blockchain Technology Group in an administrative support role. He coordinated state-level blockchain initiatives under the name "Bluegrass Blockchain".

Furthermore, public records show Woeltz participated in Ethereum hackathon competitions. He was part of the winning team "Blockchain Balloting Bot" at ETHSanFrancisco, demonstrating practical development experience in smart contract applications.

In interviews and meeting lists, he described himself as an entrepreneur and investor with nearly a decade of involvement in Silicon Valley startups.

He also led "Tech on Tap – Blockchain" events in Paducah, Kentucky, sharing insights about decentralized financial projects.

Despite a prominent role in the regional blockchain community, Woeltz maintains a limited online footprint. Police and journalists could not find verified personal social media profiles, suggesting he might operate under company accounts or maintain strict privacy.

Meanwhile, the high-end Manhattan apartment rental costs and reports of significant personal funds indicate substantial financial capability.

Investigators are examining whether Woeltz acted alone or with accomplice involvement. Two associates remain in custody for questioning as NYPD's 5th Precinct continues the investigation.

The case has shocked both the crypto community and the Italian tourist's family. Prosecutors are preparing formal charges and have not yet disclosed details about the upcoming indictment.