Judge Grants $1M Bail to Soho Crypto-Kidnapping Suspects Amid Torture Allegations

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In a shocking case that highlights the dark side of crypto-related crimes, two men accused of torturing an Italian national in a Soho luxury home to steal his digital assets have been granted $1 million bail. Judge Gregory Carro cited "credibility issues" in the prosecution's evidence, allowing John Woeltz and William Duplessie to await trial under strict conditions. The case unfolds against a backdrop of surging global crypto theft, with over $2.17 billion stolen this year alone. --- ### The Bail Decision: Why Did the Judge Rule in Favor of the Accused?

Judge Gregory Carro’s decision to grant bail raised eyebrows, especially given the graphic nature of the allegations. The prosecution claimed Woeltz and Duplessie lured the victim from Italy to New York, then subjected him to brutal torture—including pouring tequila on him and setting him on fire—to force access to his crypto holdings. However, the judge noted inconsistencies between the prosecution’s and defense’s accounts, calling the evidence "questionable." In my experience, bail rulings in high-profile crypto cases often hinge on tangible evidence. Here, the defense successfully argued that surveillance footage showed the victim casually smoking a cigarette 36 hours before allegedly being tortured—a detail that undermined the prosecution’s timeline.

--- ### The Gruesome Allegations: What Happened in the Soho Townhouse?

Assistant District Attorney Sarah Kahn painted a horrifying picture: the accused allegedly used a small chainsaw, urine, and other instruments to torture the victim while demanding his crypto passwords. Photos shown in court depicted the man in flames, but the defense countered that the victim’s behavior post-incident didn’t align with someone who’d endured such trauma. "His story just doesn’t add up," argued defense attorney Sam Talkin, pointing to footage of the victim freely moving around Soho. The defense also highlighted discrepancies in the alleged captivity period, suggesting the victim’s claims were exaggerated.

--- ### The Kentucky Connection: A "Crypto King" and a Wider Conspiracy?

Prosecutors dropped a bombshell during the hearing: Woeltz is reportedly tied to a Kentucky property dubbed the "Crypto King of Kentucky," where investigators found writings detailing plans to kidnap and torture crypto holders. This suggests the Soho case might be part of a broader pattern. Crypto crimes are getting bolder. Chainalysis reported on July 17 that $2.17 billion has been stolen in 2025 so far—already surpassing 2024’s total of $1.87 billion. As someone who’s tracked crypto theft for years, I’ve noticed criminals are shifting from hacking exchanges to targeting individuals, likely due to tighter exchange security.

--- ### Bail Conditions: Ankle Monitors and Home Confinement

Woeltz and Duplessie were ordered to surrender passports, wear GPS ankle monitors, and remain under home detention. They’d been jailed without bail since May, when they faced over a dozen charges, including kidnapping and assault. Funny enough, ankle monitors are becoming a common accessory in crypto crime cases. Last month, a Dubai-based trader was similarly tagged after a $3 million NFT scam. The irony? He tried to flee using crypto—tracked instantly.

--- ### The Bigger Picture: Crypto Crime’s Alarming Rise

This case isn’t isolated. High-profile crypto crimes are surging globally, from ransomware attacks to SIM-swapping schemes. The victim here was likely targeted for his holdings, not his nationality—criminals don’t care about borders when digital money’s at stake. *This article does not constitute investment advice.* But if you’re holding crypto, maybe rethink flashing it on social media.

--- ### FAQ: Your Questions Answered

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Why did the judge grant bail despite the severity of the allegations?

Judge Carro cited inconsistencies in the prosecution’s evidence and noted the victim’s post-incident behavior didn’t match the torture claims.

How much crypto has been stolen in 2025?

Per Chainalysis, $2.17 billion—already exceeding 2024’s total losses.

What’s the "Crypto King of Kentucky" connection?

Woeltz is linked to a Kentucky property where investigators found plans for crypto-related kidnappings.