A third suspect has been arrested in connection with the chilling kidnapping and torture of an Italian tourist in New York City. On May 27, 33-year-old William Duplessie turned himself in to the NYPD after days of negotiations. He now faces charges of kidnapping and false imprisonment in a case that has rocked the crypto world.

Authorities say Duplessie is linked to crypto investor John Woeltz, who was previously arrested for his role in the abduction. Both men reportedly have ties to a New York-based crypto hedge fund. The case has drawn national attention due to the extreme methods allegedly used to extort cryptocurrency from the victim.

The victim, 28-year-old Michael Valentino Teofrasto, was visiting from Italy when he was abducted in Manhattan. According to reports, he was held for weeks in a luxury SoHo townhome, where he was beaten, shocked with a Taser, and tortured in water to force him to give up his crypto wallet keys. His passport and phone were also stolen.

Despite the brutal treatment, Teofrasto managed to escape and alert a police officer. This led to the arrest of Woeltz, who remains in custody without bail and is scheduled to appear in court on May 28. The disturbing nature of the case has raised alarm bells among crypto investors, with many now reassessing their personal security measures.

The NYPD is continuing its investigation as more suspects may be involved. This incident adds to a growing list of targeted attacks against individuals in the crypto space, underscoring the high risks that come with managing digital assets in an unregulated environment.