Another suspect arrested in alleged NYC crypto kidnapping, torture case

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Quick Take

  • William Duplessie, a 32-year-old crypto entrepreneur from Miami, turned himself in on Tuesday.
  • Duplessie was arrested for his alleged involvement in the kidnapping and torture of an Italian tourist over cryptocurrencies.
  • John Woeltz, another suspect, was arrested last Friday.

Another suspect has surrendered to New York City police in connection with the alleged abduction and torture of an Italian tourist, who was targeted for access to his cryptocurrency account. 

William Duplessie, a 32-year-old Miami resident, turned himself in Tuesday and faces charges of kidnapping, assault, unlawful imprisonment, and criminal possession of a weapon, AP reported, citing police authorities. 

Duplessie was arrested after crypto investor John Woeltz and alleged accomplice Beatrice Folchi were apprehended on Friday. Folchi was initially charged with kidnapping and unlawful imprisonment, but was later released.

The kidnapping was uncovered Friday when the 28-year-old Italian victim escaped an upscale Manhattan apartment and alerted authorities. He claimed he had been held captive, beaten and tortured for nearly three weeks to give up access to his crypto assets.

Duplessie is a crypto entrepreneur that co-founded Swiss-based investment firm Pangea Blockchain Fund, according to The New York Times. The Block has reached out to Pangea Blockchain Fund for comments.

Meanwhile, Woeltz faces multiple charges, including first-degree kidnapping, first-degree unlawful imprisonment, two counts of second-degree assault, and criminal possession of a firearm, according to earlier news reports.

The arrests come as part of a broader surge in violent crimes targeting individuals with significant cryptocurrency holdings, with similar incidents recently reported in France, the UK, and Las Vegas.


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© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

AUTHOR

Timmy Shen is an Asia editor for The Block. Previously, he wrote about crypto and Web3 for Forkast.News from Taiwan after spending more than three years in Beijing covering finance, entertainment business and current affairs at Caixin Global and Chinese tech at TechNode. His China-related reporting has also appeared in The Guardian. When he's not chasing headlines, you'll find him savoring hot pot and shabu shabu in a Taipei local haunt. Timmy holds an MS degree from Columbia University Graduate School of Journalism. Send tips to [email protected] or get in touch on X/Telegram @timmyhmshen.

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