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Bitcoin Torture: NYC Arrest Reveals Shocking Cryptocurrency Crime

A man was arrested in New York City after allegedly kidnapping and torturing an Italian tourist in an attempt to steal his bitcoin. The victim, a 28-year-old man from Italy, was held captive for weeks in a Manhattan home by the suspect, identified as John Woeltz.

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The victim managed to escape and seek help, leading to Woeltz’s arrest on charges including assault, kidnapping, unlawful imprisonment, and possession of a firearm. Authorities revealed that Woeltz and the victim, along with a third business partner, had a complex relationship, with past incidents of violence towards the victim.

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According to law enforcement sources, Woeltz and an accomplice tortured the victim, trying to coerce him into revealing his bitcoin account password. The victim was subjected to physical abuse, including beatings, electric shocks, and threats with a gun. The suspects also allegedly threatened to harm the victim’s family if he did not comply.

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The victim was found with injuries and marks of being bound when he approached authorities for help. He was taken to a hospital in stable condition. Woeltz, described as a prominent cryptocurrency trader worth around $100 million, was renting a luxury residence in Manhattan where the torture took place.

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Neighbors were shocked by the details of the arrest, with one witness describing the scene as SWAT teams entered the building to apprehend Woeltz. The discovery of torture items and a gun at the suspect’s home added to the alarming nature of the crime.

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Investigators found Polaroid pictures of the victim being tortured at the residence, further corroborating the victim’s ordeal. The incident has left the community in disbelief, with residents expressing astonishment at the crime committed by someone of considerable wealth.

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The case underscores the dangers associated with cryptocurrency transactions and the potential for criminal activities in the digital currency space. It also highlights the importance of vigilance and security measures when engaging in cryptocurrency trading.

The victim’s harrowing experience serves as a cautionary tale, emphasizing the need for safeguards and awareness in the rapidly evolving world of digital assets. The investigation into the incident continues as authorities seek to apprehend the third business partner involved in the crime.

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