John Woeltz, a 37-year-old American cryptocurrency investor, faces charges for kidnapping and torture of Italian businessman Michael Valentino Teofrasto Carturan in a Manhattan luxury residence. The alleged motive: to extract his Bitcoin wallet passwords. This incident emphasizes the potential risks and vulnerabilities associated with cryptocurrency ownership, raising concerns about security and individual investors’ vulnerability. Authorities haven’t disclosed the full value of the funds targeted. While broader market reactions remain limited, experts warn that this isolated act highlights the increasing threat of crypto-related kidnappings. The case draws parallels to previous instances where victims were targeted for their digital wealth in France and Spain.