BREAKING: New York Bitcoin Kidnapping Suspects Walk Free on Bail—Crypto Crime Pays?

In a twist that’d make Satoshi cringe, suspects tied to a high-profile Bitcoin kidnapping case in New York just secured bail—proving once again that crime *does* pay (if you’re holding digital assets).

### The Dark Side of Decentralization

While regulators obsess over meme coins, real-world crypto crimes keep slipping through the cracks. These alleged kidnappers didn’t need a whitepaper to execute their scheme—just brute force and a Trezor wallet.

### Wall Street’s Worst Nightmare

Forget insider trading—2025’s hottest financial crime now comes with its own cold storage. The suspects’ release sparks uncomfortable questions: Is the justice system prepared for crypto-powered extortion, or are we stuck replaying the Silk Road playbook?

As the defendants party with their lawyers (probably paying in BTC), one thing’s clear: The only thing decentralized about this case is the accountability.

Key Takeaways

• John Woeltz and William Duplessie were released on $1 million bail each after allegedly kidnapping an Italian bitcoin trader in New York.
• The victim was held hostage, beaten, shocked, and threatened for weeks in an attempt to obtain his bitcoin credentials.
• Both suspects must wear electronic monitors, surrender passports, and their next court appearance is scheduled for October 15.

Two men charged in a high-profile Bitcoin kidnapping case in Manhattan have been granted bail.

John Woeltz, 37, and William Duplessie, 33, each received $1 million bail on Wednesday from New York Supreme Criminal Court Judge Gregory Carro.

Both pleaded not guilty to kidnapping, assault, and coercion charges.

Hostage held, tortured for bitcoin credentials

The case centers on the alleged abduction of a 28-year-old Italian bitcoin trader who was visiting New York.

Prosecutors state that the victim was held hostage for weeks in a Manhattan townhouse, where he was beaten, shocked with wires, pistol-whipped, and threatened with violence if he did not provide access to his bitcoin wallet.

At one point, photos reportedly show a firearm pointed at the victim’s head, and threats were made against his family.

The victim ultimately escaped in late May after persuading one of the suspects to let him use his laptop.

Seizing the opportunity when left alone, he fled and sought help from a nearby traffic officer.

He was hospitalized with injuries consistent with his account. Woeltz was arrested at the scene; Duplessie surrendered days later.

Bail conditions and ongoing investigation

A police search uncovered drugs, weapons, body armor, and surveillance equipment in the townhouse, with evidence indicating meticulous planning.

Both defendants must wear electronic ankle monitors, surrender their passports, and undergo security checks every 72 hours.

Crime reporter, Lauren Conlin, wrote:

The defense claims that this was a hazing and that the victim wanted to be part of the lifestyle and it was simply 17 days of shenanigans.

The next court date is set for October 15.