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Two men charged with kidnapping a Bitcoin investor in New York City have pleaded not guilty amid emerging court details challenging the victim’s captivity claims.
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Defense attorneys argue that the alleged victim was seen freely moving around, engaging in illicit activities, casting doubt on the prosecution’s narrative.
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According to COINOTAG sources, prosecutors maintain strong evidence including weapons and disturbing photos supporting the kidnapping and torture allegations.
NYC Bitcoin kidnapping case unfolds with defendants pleading not guilty; conflicting evidence raises questions about victim’s captivity and crypto crime risks.
Legal Battle Intensifies in NYC Bitcoin Kidnapping Case
The high-profile case involving William Duplessie and John Woeltz, accused of kidnapping and torturing a Bitcoin investor, has entered a contentious phase as both defendants pleaded not guilty. The defense teams presented videos purportedly showing the alleged victim freely moving around New York City, participating in drug use and group activities, which contradicts claims of captivity. This development introduces complexity to the case, highlighting the challenges in prosecuting crypto-related violent crimes where digital assets are targeted.
Evidence and Counter-Narratives in Kidnapping Allegations
Prosecutors have countered the defense’s claims by referencing leaked videos and physical evidence seized during the investigation. Items such as a chainsaw and a loaded pistol were reportedly found at the crime scene, alongside graphic photos depicting the victim with a gun to his head and being set on fire. Assistant District Attorney Sarah Khan emphasized that these pieces of evidence corroborate the victim’s account of being bound, beaten, and electrocuted in an attempt to access his cryptocurrency holdings. The conflicting narratives underscore the difficulties in verifying events in cases involving digital asset crimes.
Rising Trend of Physical Attacks Targeting Crypto Investors
This incident is part of a broader pattern of increasing physical assaults and kidnappings aimed at cryptocurrency holders. Notable victims this year include Ledger CEO David Balland and the family of Paymium CEO Pierre Noizat, illustrating that high-profile crypto figures are becoming targets. A growing database tracking “wrench attacks”—violent attempts to steal crypto assets—shows that 2025 is already nearing the total number of such attacks recorded in 2024, signaling a disturbing escalation in crypto-related violence.
Implications for Crypto Security and Investor Safety
The case highlights significant security concerns for cryptocurrency investors, emphasizing the need for enhanced protective measures both online and offline. As criminals increasingly resort to physical coercion to access digital wallets, the crypto community and law enforcement agencies must collaborate to develop strategies that safeguard investors. This includes improving legal frameworks, raising awareness, and adopting advanced security technologies to mitigate risks associated with crypto asset theft.
Conclusion
The ongoing legal proceedings in the NYC Bitcoin kidnapping case reveal the complexities of prosecuting crimes at the intersection of physical violence and digital asset theft. While the defendants maintain their innocence, the evidence presented by prosecutors paints a grim picture of targeted violence against crypto investors. This case serves as a stark reminder of the evolving threats in the cryptocurrency space and underscores the urgent need for comprehensive security solutions to protect investors from both cyber and physical attacks.
