Cryptocurrency millionaire John Woeltz is currency facing accusations of torture and kidnapping after jaw-dropping footage shows a victim escaping after Woeltz attempted to gain access to his Bitcoin wallet.
With cryptocurrency at a point where it's more popular and valuable than ever before it's no surprise that some have taken extreme measures to increase their fortunes on the market.
As a deregulated and decentralized economy there is no bank to stage a robbery at, so individuals with significant crypto stocks are being individually targeted in incidents that often involve extreme violence.
Only recently was a popular streamer left bloodied in her own home after three assailants broke in and demanded that she transfer what could potentially be millions in Bitcoin to their digital wallets.
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A new incident involving 'Crypto King' John Woeltz has seen one Italian businessman conduct a miraculous escape, with video footage showing the moment he managed to break free from kidnapping and torture.
Shared by TODAY on YouTube, CCTV footage shows the victim running barefoot in the street and flagging an officer, after escaping a New York townhouse that Woeltz allegedly had used to kidnap and torture him in the aim to steal his Bitcoin.
As reported by the BBC, the victim claims he was hung off a roof ledge, shocked with electrical wires, and even attacked by a chainsaw as his attackers demanded that he hand over the password to his Bitcoin wallet.
Eventually he agreed to their demands and was sent to retrieve his laptop, but in that moment he was able to launch a dramatic escape via the building's stairs and return to safety.
A police search of the property found polaroid photos of the victim tied up and tortured, alongside firearms and drugs which Woeltz and his accomplice used to threaten and attack the Italian man.
Following Woeltz arrest last Friday, William Duplessie turned himself into the authorities claiming he was the aforementioned accomplice, and it is claimed that the pair had engaged in a business partnership with the unnamed victim before inviting him to the SoHo house where he was held for around three weeks.
After suffering a significant dip from the post-Trump election win heights of late last year, Bitcoin has now recovered to an all-time high price, recently breaking the $110,000 mark for the first time with a peak of $111,679.35.
It's unclear quite how much of the cryptocurrency the victim had in his wallet, but considering the astronomical current price it's likely that it was worth a significant amount that would have added to Woeltz and Duplessie's existing riches.