Crypto King of Kentucky Arrested in NYC Kidnapping Plot Over $30 Million Bitcoin

Police in New York City are investigating a high-profile kidnapping case involving John Waltz, a 37-year-old known as the “Crypto King of Kentucky.” Waltz, along with an unnamed accomplice, is accused of kidnapping and torturing a business associate for weeks to steal his digital currency.

The victim, a 28-year-old man from Italy, was allegedly held hostage inside a luxurious six-story townhome in Manhattan. According to investigators, the ordeal began on May 6 when Waltz and his accomplice confiscated the victim’s passport and electronic devices and threatened his family. Over the course of 17 days, the man was reportedly subjected to severe beatings, struck with a gun, and even hung over a staircase ledge as the suspects demanded access to his Bitcoin account.

Authorities estimate the victim’s net worth at $30 million, while Waltz’s is reportedly close to $100 million. Waltz now faces multiple charges, including assault, kidnapping, and unlawful imprisonment. His accomplice remains at large.

The victim eventually managed to escape and alert a traffic agent, leading police to raid the townhome. Waltz was arrested barefoot and wearing a bathrobe.

This case comes amid a wave of attacks targeting wealthy cryptocurrency investors worldwide. Earlier this month, an attempted kidnapping in Paris targeted the daughter of a crypto businessman, while in Houston, police reported an influencer was assaulted at home by robbers seeking her crypto accounts.

As the popularity of digital assets grows, law enforcement agencies are warning of increasing risks for those with substantial holdings.

Credit: NBC News
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