Crypto Investors Face Growing Kidnapping threat
Two men, John Woeltz and William Duplessie, denied kidnapping a Bitcoin investor. They allegedly held and tortured him for weeks to get his wallet password. This case highlights the rising danger for high-profile crypto investors.
The incident took place in a luxury New York apartment. The attackers used extreme methods,including electric shocks,to force the victim to reveal his password. Luckily, he managed to escape.If found guilty, Woeltz and Duplessie could face life in prison.
Bitcoin kidnappings are becoming more common. Crypto transactions are irreversible, making them an attractive target for criminals. France has seen at least six such incidents by May 2025.
Even family members of crypto investors are at risk. In one case, attackers tried to kidnap the daughter and grandson of a crypto exchange CEO in France.
To stay safe, crypto holders should keep their assets secret. Large holdings should be stored on cold storage devices or with trusted custodians. This makes it harder for attackers to access funds.
Protecting crypto assets is crucial. By staying discreet and using secure storage methods, investors can reduce the risk of becoming a target.
