Overview

• John Woeltz and William Duplessie entered not guilty pleas after prosecutors accused them of kidnapping and torturing an Italian cryptocurrency holder in a luxury SoHo townhouse.
• Authorities allege the suspects bound, electrocuted and assaulted the victim over 17 days to force him to reveal his Bitcoin wallet credentials before he escaped on May 23.
• Woeltz was arrested when the victim fled and flagged down a traffic officer, and Duplessie surrendered to police on May 27.
• NYPD’s Internal Affairs has placed two detectives on modified duty while probing whether they improperly provided off-duty security for the crypto investors.
• Industry experts say the case underscores growing physical risks for cryptocurrency holders and the need for stronger safeguards and regulation.