Crypto partners turn into kidnappers; this plot is more outrageous than DeFi vulnerabilities.

Crypto World News reports that, according to NBC News, New York police have arrested cryptocurrency trader John Woeltz. Prosecutors accuse him of, along with another fugitive suspect, detaining an Italian man for up to 17 days at a residence in Manhattan in May, and forcing him to give up his Bitcoin wallet password through beatings, electric shocks, gun threats, and other means. Police say the three had been conducting business together for many years, and the case may involve disputes among partners. The victim eventually escaped and called the police, who found guns, bloodstains, and multiple photos of the victim tied up at the scene. The report states that Woeltz's personal assets are approximately $100 million, and the victim's assets are about $30 million.