Crypto Investor Arrested for Kidnapping to Obtain Bitcoin Passwords

John Woeltz, a 37-year-old American cryptocurrency investor, faces charges of kidnapping and torture related to an attempt to extort Bitcoin passwords. The Italian victim was allegedly held against their will by Woeltz as part of this scheme, according to court documents filed in New York. This incident underscores the ongoing security risks associated with cryptocurrency holdings. Despite the alleged crime, there has been no reported impact on Bitcoin market values or blockchain protocols.