Crypto entrepreneur arrested for kidnapping and torturing his ex-business partner with chainsaw and cocaine

A Kentucky crypto entrepreneur has been arrested and faces extreme expenses after allegedly kidnapping and torturing an Italian vacationer with a chainsaw and different brutal strategies to pressure him handy over crypto account passwords, police sources told the New York Publish.

The suspect, John Woeltz, was taken into custody on Friday after the Italian sufferer made an escape from a luxurious SoHo townhouse, the place he had allegedly been held captive and abused for greater than two weeks.

The person managed to interrupt free from his restraints, flee the residence, and flag down a close-by police officer to report the torture. Sources stated he made the transfer fearing he can be killed on Friday.

The 28-year-old sufferer informed investigators he was Woeltz’s former enterprise associate, however a falling out led him to go away the nation.

He flew again to the US on Could 6, reportedly at Woeltz’s urging, and went straight to the brownstone on Prince Road, the place the ordeal started.

Chainsaw, Polaroids, and blood discovered at scene

As soon as police obtained the report, officers from the fifth Precinct rushed to the Prince Road property and uncovered a chilling scene with bloodstains, damaged furnishings, and disturbing proof strewn all through the multi-million-dollar rental.

There was a Polaroid photograph exhibiting the sufferer certain and gagged with electrical cords, and an image of him tied to a chair with a gun pointed at his head, in accordance with investigators.

The sufferer had been allegedly Tased, pistol-whipped, and compelled to take cocaine, whereas Woeltz threatened to chop off his limbs with an electrical chainsaw until he handed over entry to his crypto holdings.

Police additionally recovered a number of objects from the scene, together with a chainsaw with obvious blood residue, a bulletproof vest, evening imaginative and prescient goggles, and a firearm. An Apple AirTag was allegedly positioned across the sufferer’s neck to trace his actions and deter escape.

The sufferer was transported to Bellevue Hospital for remedy, the place his situation was confirmed to be secure.

Woeltz was arrested on the scene, reportedly sporting a bathrobe. Numerous expenses are being introduced in opposition to him, together with two counts of second-degree assault, a first-degree kidnapping, an illegal imprisonment within the first diploma, and prison possession of weapons within the first diploma.

NYPD law enforcement officials take away John Woeltz, 37 from a house on Prince St. close to Mulberry St. in Manhattan on Friday, Could 23, 2025, after an Italian man claimed he was held in opposition to his will on the location for 3 weeks.https://t.co/8SVK0hX7uq pic.twitter.com/rFhWuapyXr

— ꧁𝐸𝒾𝓁𝒶𝓉𝒶𝓃𝟠𝟟♱꧂ (@Eilatan87) May 24, 2025

Police have additionally arrested Beatrice Folchi, believed to be concerned within the kidnapping and torture. A 3rd male suspect stays at massive, with legislation enforcement actively trying to find him.

Investigators are additionally interviewing two butlers who labored within the Prince Road townhouse and should have witnessed some facets of the crime.

Who’s John Woeltz?

Earlier than his title surfaced in reference to the surprising kidnapping and torture case in Manhattan, Woeltz was identified in crypto circles as a security-minded developer and early adopter of digital property.

A former core staff member of Grin, a privacy-focused crypto undertaking, Woeltz performed an vital position in its early improvement. He formally joined the Grin core team in March 2020 after serving to set up the undertaking’s first safety audit.

He additionally appeared publicly at Grincon 2019, the place he spoke concerning the dangers that privateness tasks face with out rigorous safety practices.

Regardless of his prior visibility, his GitHub exercise seems to have dropped off after 2020, and his present affiliation with Grin is unclear.

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