Men accused in New York crypto torture case out on bail

Two men accused of kidnapping and torturing an Italian man in a Manhattan townhouse as part of a cryptocurrency extortion plot have been granted bail.

John Woeltz, 37, and William Duplessie, 33, were each issued a $1 million bail on Wednesday by New York Supreme Criminal Court Judge Gregory Carro, according to a report from ABC News. Both men have reportedly pleaded not guilty to charges including kidnapping, assault and coercion.

The case stems from a crypto extortion incident that took place a few months earlier. On May 6, a 28-year-old cryptocurrency trader visiting from Italy was allegedly abducted after arriving in New York.

According to prosecutors, the man was held hostage for weeks and subjected to repeated torture as his captors attempted to force him to reveal his Bitcoin