INSUBCONTINENT EXCLUSIVE:
Two of the men charged with the kidnapping and torture of a cryptocurrency holder visiting New York City have reportedly pleaded not guilty
to all counts.In a Wednesday hearing in the New York Supreme Criminal Court, John Woeltz and William Duplessie pleaded not guilty to
kidnapping and false imprisonment of Michael Valentino Teofrasto Carturan, Reuters reported
The two men are accused of abducting the tourist, who was apparently a friend, from New York City and administering electric shocks,
beatings, and other forms of torture in an effort to gain access to his crypto wallet.Justice Gregory Carro, overseeing the case in New York
state court, ordered Woeltz and Duplessie to be held without bail
Both men could face up to life in prison if convicted
No trial date had been set as of the Wednesday hearing.The alleged kidnapping and torture case of a crypto holder was the latest in a series
of attacks globally involving individuals connected to digital asset companies or who may have had access to large amounts of
cryptocurrencies like Bitcoin (BTC)
apartment for roughly three weeks in an attempt to have him reveal his seed phrase
The crypto wallet holder managed to escape and alert the authorities
The New York Times reported in May that two New York Police Department officers had been placed on modified duties following allegations
they were involved in the kidnapping
Neither officer appeared to be facing criminal charges as of Wednesday.New York City Mayor Eric Adams has touted the city as
crypto-friendly, hosting a digital asset summit at his residence and calling for the creation of BTC-backed municipal bonds
Any digital asset business or company managing crypto investments from New York residents is required to obtain a license.Magazine: Older
investors are risking everything for a crypto-funded retirement
