Authorities have arrested a second suspect in a high-profile crypto crime involving the kidnapping and torture of an Italian man in New York City. William Duplessie, a 33-year-old resident of Miami, surrendered on May 27, following the earlier arrest of John Woeltz—once nicknamed the “Kentucky king of crypto.”

Duo Faces Multiple Felony Charges

Duplessie and Woeltz have been charged with a range of violent offenses, including kidnapping, assault, unlawful imprisonment, and possessing a firearm. A corporate bio describes Duplessie as co-founder of Pangaea Digital Asset Fund, a Switzerland-based firm known for aiding financially troubled blockchain projects.

Authorities confirmed the two were in business together, though their exact connection remains unclear.

Italian Man Abused for Bitcoin Credentials

Investigators believe the pair plotted to deceive and trap a 28-year-old Italian national, bringing him to New York on May 6. Inside a Nolita apartment, the man was allegedly subjected to electric shocks, physical cuts, gun threats, and even being held over a ledge until he gave up his Bitcoin access codes.

After sharing the password, the man managed to flee the apartment and alert a nearby traffic officer.

Unverified sources suggest the victim may have once worked with the suspects, but this link has not yet been formally established.

Woeltz’s Family Points to Possible Manipulation

Speaking to The New York Post, Woeltz’s family claimed he may have been exploited. A relative described him as “kind and caring,” insisting he may not have acted of his own free will.

Woeltz is expected in court on May 28. There is no confirmed date for Duplessie’s initial appearance.