An Italian tourist’s barefoot dash onto a SoHo sidewalk has unraveled one of the most violent crypto-ransom plots ever witnessed in New York City.
Following the apprehension of William Duplessie, 32, on Tuesday, law enforcement authorities have now pressed charges against two business partners who allegedly subjected the 28-year-old to 17 days of captivity in a lavish townhouse in a bid to extract access to his multi-million dollar Bitcoin wallet.
The townhouse, which detectives have likened to a torture chamber, was an eight-bedroom property on Prince Street, rented for a staggering $40,000 per month. Reports indicate that the victim was subjected to horrifying acts including being hung over a roof ledge, electrocuted with wires, and threatened with a chainsaw. Law enforcement officials also discovered Polaroid photos depicting the assaults, alongside firearms and illicit substances.
Here’s a breakdown of the harrowing timeline:
– 6 May 2025 – Victim arrives from Italy, with his passport confiscated.
– 6–23 May 2025 – Seventeen days of captivity marked by escalating violence and threats against the victim’s family.
– 23 May 2025 – The victim manages to escape while the perpetrators are preoccupied searching for his laptop.
– 24 May 2025 – John Woeltz, the first suspect, aged 37, is arrested and arraigned.
– 27 May 2025 – William Duplessie voluntarily surrenders at an NYPD precinct and faces charges.
Woeltz, a self-proclaimed “crypto king” hailing from Kentucky, and Duplessie, his longstanding business associate, are suspected of luring affluent investors through a series of blockchain ventures. Prosecutors have flagged both individuals as potential flight risks, citing offshore assets and business connections in Switzerland. Bail has been denied for the duo.
Security experts caution that the SoHo incident underscores a shift from digital theft to what industry insiders term as “wrench attacks” – physical coercion tactics aimed at obtaining private keys. The FBI estimates that the US incurred losses of $9.3 billion in crypto-related crimes last year, with an increasing portion linked to abductions and break-ins.
Coincidentally, French law enforcement recently apprehended over 20 suspects in unrelated schemes targeting crypto entrepreneurs in Nantes and Paris. Investigations reveal a common modus operandi: abduction, intimidation, and demands for wallet access.
Moving forward, the Manhattan District Attorney is poised to present the case before a grand jury. Concurrently, legal experts anticipate a surge in lawsuits against short-term rental platforms and a heightened demand for insurance products combining cyber coverage with personal security provisions.
For cryptocurrency investors, the takeaway is clear. While hardware wallets and multi-signature protocols fortify against online breaches, vigilance regarding real-world privacy – encompassing travel itineraries and rental details – may now prove pivotal in safeguarding against the perils of “wrench attacks.”