Crypto Suspects Granted Bail in Kidnapping Case

John Woeltz and William Duplessie, charged with kidnapping a cryptocurrency trader in Manhattan, were granted $1 million bail each on July 24, 2025.

The case underscores growing concerns about physical security risks associated with holding cryptocurrencies.

Accused Face $1 Million Bail Each

John Woeltz and William Duplessie were charged with physical aggression against an Italian crypto trader. The alleged target was Bitcoin access through forced disclosure of wallet credentials.

Both suspects, identified without known crypto industry ties, contend with credibility issues amid judiciary scrutiny. Justice Gregory Carro highlighted these concerns during courtroom deliberations.

Security Concerns for Crypto Holders Rise

The event reflects heightened security risks for individual crypto holders. It has not, however, reported any direct impact on the crypto market or specific tokens.

Legal proceedings prompt discussions about how physical threats align with financial interests in cryptocurrency, marking a distinct divergence from online threats.

Past Incidents Highlight Security Needs

Physical assaults to access cryptocurrencies have occurred before. These cases consistently emphasize the importance of personal security measures for holders of digital assets.

Future outcomes may involve stricter security protocols. Emphasis remains on individual vigilance and awareness to mitigate off-chain risks.

“The strength of the evidence presented by the Manhattan District Attorney’s office was questionable… there were credibility issues and a lack of corroboration between the prosecution’s and defense’s accounts, which justified the decision to grant bail while he continues to examine the case.” – Source