A barefoot dash of Italian tourists on the sidewalks of Soho has broken one of the most violent crypto lines ever seen in New York City.
With the surrender of 32-year-old William Duplesey, police say they have accused two business partners of allegedly jailed and tortured in a gorgeous townhouse for 17 days to force access to a multi-million-dollar Bitcoin wallet.
The townhouse has become a torture room
The detective describes an eight-bedroom Prince Street home that was rented for up to $40,000 a month. Inside, the victim was said to have been hanging on a roof shelf. They are shocked by electric wires and threatened by chainsaws. Officers later recovered Polaroid photos of the attack along with firearms and drugs.
A terrifying timeline
- May 6, 2025 – The victim arrived from Italy and his passport was seized.
- May 6-23, 2025 – 17-day prisoners of war, characterized by escalating violence and threats to the victim’s family.
- May 23, 2025 – The victim runs away while the suspect searches the laptop.
- May 24, 2025 – The first suspect, 37-year-old John Wertz, was arrested and arrested.
- May 27, 2025 – Duplessie enters the NYPD precinct and is billed.
Who are Woeltz and Duplessie?
Woeltz, a self-styled “Crypto King” in Kentucky, and his longtime business partner Duplessie, are believed to have courted luxury investors through a series of blockchain startups. Prosecutors argue that both men are flight risks, citing offshore assets and Swiss business relationships. Bail was denied.
Security analysts warn that the SoHo incident illustrates the pivot from digital theft to what industry insiders call “wrench attacks,” brute force, and what private keys have real-world enforcement. The FBI estimated $9.3 billion in crypto-related losses in the US last year, increasing the share linked to lures and home invasions.
Just a few days ago, French police arrested more than 20 suspects in separate conspiracies targeting Nantes and a Parisian crypto entrepreneur. Investigators say the scheme relies on the same playbook: invitations, fears, demand wallet credentials.
What happens next?
The Manhattan District Attorney is expected to present the case to the large ju court. Meanwhile, private lawyers are forecasting a surge in litigation against short-term rental platforms and a new drive for insurance products that combine cyber policies and personal security coverage.
For crypto investors, lessons are dull. Hardware wallets and multi-signature protocols protect against online hackers, but real-world privacy from travel plans to rental addresses can be the difference between digital fortune and physical dangers from “wrench attacks.”
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