In brief
- Two men alleged to have kidnapped and tortured a man for his crypto pleaded not guilty in NYC on Wednesday.
- The pair's lawyers allege the accuser was free to move about on days he was allegedly captured.
- The case is the latest in a string of high-profile crypto "wrench attacks" this year.
Two men alleged to have kidnapped and tortured a man for access to his Bitcoin pleaded not guilty on Wednesday, with their respective lawyers saying the accuser could move freely throughout New York on the days he was allegedly held captive.
Lawyers for William Duplessie and John Woeltz said the unidentified accuser can be seen in videos “laughing and smiling,” and smoking crack cocaine and participating in group sex, according to a report from the Associated Press.
“The story that he is selling doesn’t make sense,” Sam Talkin, Duplessie’s lawyer said in criminal court on Wednesday, the AP reported.
The lawyer for Woeltz added that witnesses told him the accuser moved about freely, contrary to accusations that he was held captive and tortured.
Woeltz was initially arrested and charged in late May, after the accuser allegedly escaped a Manhattan townhouse where he said he was held. According to prosecutors at the time, the alleged victim was bound, beaten, and electrocuted as the captors attempted to gain access to his crypto.
Assistant District Attorney Sarah Khan said that videos were leaked to try and present a counter-narrative indicating that the accuser was not permitted to leave the house freely as the defendant’s lawyers claim, according to the AP report
Police found evidence like a chainsaw and loaded pistol, which help corroborate the accuser's story, alongside photos of him with a gun to his head and one where he is being set on fire, according to multiple reports. No burn marks were found on the alleged victim because the defendants quickly extinguished the flames, sometimes by urinating on him, per the AP.
Third Arrest Made in High-Profile Kidnapping of Bitcoin Investor in New York
A third person was arrested in New York on Tuesday as part of a weeks-long manhunt to apprehend those responsible for the violent kidnapping plot of a Bitcoin investor. William Duplessie, alongside John Woeltz, has been charged with allegedly abducting an unnamed 28-year-old Italian businessman, holding him captive in an upscale Manhattan apartment for two weeks. The pair allegedly tortured the businessman by electric shocks, physical beatings, and threats with a firearm, in an attempt to obtain...
Prosecutors additionally believe there may be two additional victims in other locations, and that the defendants have held people against their will before.
The pair, who were charged with first-degree kidnapping, assault, and more, could be sentenced to life in prison if convicted. They were denied bail and will be detained until their next court appearance on July 15.
A third person was arrested and charged in connection to the plot, but later released.
7 Ways to Protect Yourself From Violent Crypto Attacks (Without a Shotgun)
In 2009, the webcomic xkcd published a strip that laid out one of the most chillingly simple concepts in cybersecurity: the "$5 wrench attack." In the comic, a stick figure explains how to bypass sophisticated encryption—not with code or brute force, but by threatening someone with a $5 wrench until they give up their password. Sadly, the $5 wrench attack is no longer a punchline. Far worse attacks are happening in real life, with alarming frequency. Criminals aren’t bothering to hack private ke...
Physical attacks and kidnappings of crypto investors have become more high-profile this year, with perpetrators targeting individuals like Ledger CEO David Balland and the family of Paymium CEO and co-founder, Pierre Noizat.
A database of crypto "wrench attacks," or physical altercations devised to steal someone’s crypto, already showcases nearly as many attacks in 2025 as the entirety of 2024.
Edited by James Rubin
