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Crypto Trends

New York Man Denied Bail Over Alleged Bitcoin Ransom, Torture Plot

by admin June 2, 2025



In brief

  • William Duplessie has been indicted on kidnapping, assault, and weapons charges.
  • The victim was allegedly tortured and threatened before escaping barefoot onto Manhattan streets.
  • Co-defendant John Woeltz was previously denied bail; both men remain in custody.

A Manhattan grand jury has indicted one of two men allegedly involved in the high-profile kidnapping and torture case of an Italian crypto investor.

William Duplessie, 32, was formally handed an indictment Friday over his alleged involvement in kidnapping, assault, unlawful imprisonment, and weapons possession, in a plot to extract Bitcoin from an unnamed victim through weeks of violent coercion, according to an Associated Press report.

Duplessie, along with John Woeltz, 37, are accused of luring the victim to a Soho townhouse on May 6 by threatening to kill the victim’s family.

The two were formally charged last week, with Woeltz being denied bail Thursday after requesting release on a $2 million bond.

At the hearing, Woeltz’s attorney cited their client’s lack of criminal record, philosophy degree, and professional accomplishments, according to a report from the Associated Press.

“He’s been very successful in the technology world,” Wayne Gosnell, Woeltz’s representative, said at the hearing.

Woeltz, who did not appear in court, had “every intention to fight this case,” the attorney told a Manhattan judge.

Duplessie surrendered to Manhattan police on Tuesday last week, while a third individual, Beatrice Folchi, was arrested and charged with first-degree kidnapping and unlawful imprisonment. Folchi was released pending further investigation.

Duplessie requested a $1 million bail, but was denied due to the severity of the case. Indictments for Duplessie and Woeltz will remain sealed until June 11 for their arraignment.

House of horrors

The victim, identified as a 28-year-old Italian national, was reportedly held captive for 17 days.

Woeltz and Duplessie allegedly tortured the victim with electrical wires, forced the victim to smoke cocaine from a crack pipe, and at one instance, dangled the victim from a five-story high staircase.

The kidnapping took a turn on the morning of May 23. After allegedly being pistol-whipped by Woeltz, the victim thought they’d get shot and pretended to agree to surrender their password, according to a Washington Post report.



While the captors went to retrieve a laptop from another room, the victim was able to rush downstairs and flee to the nearby streets.

Disheveled, bloodied, and barefoot, the victim immediately sought help from a traffic enforcement officer on the corner of Mulberry Street.

Police later searching the townhouse found a saw, cocaine, chicken wire, body armor, night-vision goggles, ballistic helmets, and ammunition.

Also discovered were Polaroid photos of the victim with a gun to their head and shirts showing the victim with a cocaine pipe, according to a description from Assistant District Attorney Michael Mattson, per an ABC News report.

The Manhattan incident is one of several “wrench attacks” that have been growing in an alarming trend. Decrypt has compiled several methods to protect and defend against these violent attacks.

Decrypt has reached out for comments from the Manhattan District Attorney’s Office, as well as Duplessie and Woeltz’s respective attorneys.

Edited by Sebastian Sinclair

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June 2, 2025 0 comments
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Shiba Inu enters doghouse as whales bail, burn rate slows
NFT Gaming

Shiba Inu enters doghouse as whales bail, burn rate slows

by admin May 25, 2025



Shiba Inu is nearing a local technical bear market after falling by over 17% from its highest point this month.

Shiba Inu (SHIB) was trading at $0.000014 on Sunday, with its 24-hour volume dwindling to $158 million. This volume is much lower than that of other popular meme coins like Dogecoin (DOGE), Pepe (PEPE), Official Trump (TRUMP), and Bonk (BONK).

The underperformance is happening because of the ongoing whale and mart money selling and falling burn rate.

ShibBurn data shows that the daily burn rate crashed by 85% to 2.14 million. Its weekly burn rate also dropped, with the biggest burn transaction being 23.5 million on Thursday.

Shiba Inu price often does well when more tokens are being burned, as this reduces the number in circulation and boosts confidence among holders. Over 410 trillion tokens have been burned from the initial supply.

Santiment data shows that whales have been on a selling spree since January. Their total supply stood at over 743 trillion on January 19 and has dropped to 725 trillion today. This means that these investors have sold over 18 trillion tokens, a sign that they expect it to keep falling.

Shiba Inu whale transactions | Source: Santiment

Worse, the selling behavior did not improve as Bitcoin (BTC) surged to a record high of nearly $112,000 last week. In the past, a strong Bitcoin surge would have pushed Shiba Inu higher. 

Another data by Nansen shows that smart money investors have also sold their SHIB tokens. They now hold 14.13 billion tokens, down from 14.53 billion on April 8. 

SHIB smart money transactions | Source: Nansen

In addition to the falling burn rate, investors have likely rotated to the faster-growing meme coins like Fartcoin and Dogwifhat.

Shiba Inu price technical analysis

SHIB price chart | Source: crypto.news

On the positive side, there are signs that the SHIB price has bottomed. The daily chart shows that it is stuck at the 100-day Exponential Moving Average. 

It has also formed a cup and handle pattern, with the upper side at $0.00001733. The recent decline is part of the formation of the handle section. 

This cup has a depth of about 40%. Therefore, measuring the same distance from its upper side brings the target at $0.00002443. This is a notable target since it coincides with the highest point in January.



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May 25, 2025 0 comments
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