NEW YORK — A 37-year-old cryptocurrency investor has been arrested and charged in New York City for allegedly kidnapping and torturing an Italian tourist in an attempt to extort access to his bitcoin wallet, authorities and media reports say.

John Woeltz, a crypto investor originally from Kentucky, was arraigned Saturday in Manhattan Criminal Court on multiple charges including kidnapping with intent to collect ransom, assault, and unlawful imprisonment, according to court records.

A second suspect, Beatrice Folchi, 24, was also arrested on Saturday in connection with the case, U.S. media reported.

The 28-year-old male victim, whose identity has not been released, told police he arrived in New York from Italy on 6 May and was taken to Woeltz’s rented luxury townhome in SoHo.

There, he said, his passport was confiscated and he was held captive for weeks — beaten, restrained, and at times allegedly hung off a ledge — after refusing to give up his bitcoin password.

Police say the man eventually escaped on Friday morning and contacted authorities. He was taken to a hospital and is currently in stable condition.

According to ABC News and CBS, officers recovered Polaroid photographs showing the victim bound and tortured, along with firearms found inside the residence, which Woeltz was reportedly renting for between $30,000 and $40,000 a month.

Neither the New York Police Department nor the Manhattan District Attorney’s Office has publicly commented, and Woeltz’s legal representation has not yet issued a statement.

The investigation remains ongoing as authorities determine whether additional charges will be filed or further individuals are involved. — Agencies