The second suspect in Manhattan’s brutal Bitcoin torture case surrendered at the 13th Precinct after his partner spent 17 days torturing a victim in a $75,000-per-month Nolita townhouse. The crypto entrepreneurs used beatings, electric shocks, and chainsaw threats to extract cryptocurrency passwords from their business associate. John Woeltz, dubbed the “crypto king,” was already arrested and held without bail. Because apparently luxury real estate makes the perfect cover for digital-age barbarism that reveals just how far greed can push people.
When most people think of luxury Manhattan real estate, they probably don’t picture torture chambers. But that’s exactly what investigators found in a posh six-story townhouse in Nolita. Welcome to the dark side of crypto wealth.
The second suspect in Manhattan’s Bitcoin torture case just turned himself in at the 13th Precinct. Smart move, considering his partner John Woeltz is already sitting in jail without bail. Woeltz, a Kentucky crypto entrepreneur who apparently earned the nickname “crypto king,” was arrested after their victim escaped and ran to a traffic officer.
Here’s what happened. Two crypto business partners decided they wanted access to a 28-year-old Italian man’s Bitcoin password. Instead of asking nicely, they chose the medieval approach. For seventeen days, they held him captive in what can only be described as a luxury torture chamber.
The victim endured beatings, electric shocks, and pistol-whipping. They threatened him with a chainsaw, hung him off a ledge, and urinated on him. Classy stuff. When physical torture wasn’t enough, they threatened his family back home. They confiscated his passport and electronics to guarantee he couldn’t escape.
Police found Polaroids documenting the torture, various implements, and a gun at the scene. Because apparently these geniuses thought photography was a good idea.
The victim finally managed to escape and was hospitalized for his injuries. The evidence he provided led investigators straight to both suspects, who are now facing charges including kidnapping, assault, and unlawful imprisonment. The victim had been lured to NYC on May 6 after receiving threats against his family members.
This case highlights the dangerous intersection of cryptocurrency disputes and violent crime. When digital assets worth potentially millions are involved, some people lose their minds completely. The business relationship between all three men had apparently gone south, leading to this extreme attempt at coercion.
Both suspects are expected to face additional charges as the investigation continues. Woeltz hasn’t entered a plea yet, and his partner’s legal status is pending. The case has shocked media outlets and the public, who describe it as movie-like in its brutality. The torture occurred at a Prince Street property that commands $75,000 monthly rent, demonstrating how extreme wealth can mask horrific crimes. Unfortunately, this horror show was very real.
