Authorities charge a crypto trader with holding a business associate captive for 17 days to access a $30 million Bitcoin wallet.
New York authorities arrested crypto trader John Woeltz, reportedly worth $100 million, for allegedly kidnapping and torturing an Italian business partner. The victim, valued at $30 million, was held for 17 days in an attempt to extract access to a Bitcoin wallet.
The two had been business partners for years, according to officials. The victim escaped and alerted police, leading to Woeltz’s arrest.
No immediate market reaction was reported, but the case highlights risks in high-value crypto transactions.