Accused crypto-kidnapper held without bail during Saturday court appearance

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Kentucky Cryptocurrency Investor Accused of Kidnapping and Torture Ordered Held Without Bail

A Manhattan judge ordered John Woeltz, a Kentucky-based cryptocurrency investor, to be held without bail on Saturday. Woeltz is facing charges of first-degree kidnapping, first-degree unlawful imprisonment, second-degree assault, and criminal possession of a weapon in connection with the alleged kidnapping and torture of an Italian businessman in Soho.

John Woeltz is a Kentucky-based cryptocurrency investor, accused of kidnapping and torturing an Italian businessman in an attempt to extort his Bitcoin password. David Burns

The Manhattan Criminal Court judge granted the Manhattan District Attorney’s office request to hold Woeltz, 37, without bail. Woeltz will also be required to turn over his passport, authorities said.

The victim, 28, broke out of the house of horrors Friday morning and reported his sick abuse and imprisonment to a police officer, law enforcement sources said.