New York court approves bail for two suspects in Bitcoin kidnapping case

According to ChainCatcher news reported by Protos, two suspects, John Woeltz and William Duplessie, accused of kidnapping and torturing a Bitcoin trader to obtain his keys, have been granted bail by a New York court. The two are charged with 12 counts, all of which they plead not guilty. Each was released on a $1 million bond and will be subject to electronic monitoring, while being required to surrender their passports.

Suspect Woeltz is referred to as the "Crypto King of Kentucky." They are accused of kidnapping an Italian crypto trader in Woeltz's Soho mansion and subjecting him to torture, including threats with a gun, attacks with a stun gun and chainsaw, and setting him on fire with alcohol. It is alleged that the two also threatened to kill the victim's family.

Although the prosecution claims there is evidence showing the two had engaged in similar behavior, Judge Gregory Carro found numerous credibility issues and decided to grant bail while continuing to review the evidence.