In a chilling case that has gripped New York City’s cryptocurrency community, Italian Bitcoin millionaire Michael Valentino Teofrasto Carturan was allegedly abducted and subjected to weeks of sadistic torture in an attempt to gain access to his digital wealth. The shocking incident, which unfolded in a sleek SoHo townhouse, has revealed a dark side of the crypto world where vast fortunes and anonymity can make individuals easy targets for ruthless criminals.
Authorities have identified the alleged perpetrators as John Woeltz, a Kentucky-based entrepreneur nicknamed the “Crypto King,” and his associate William Duplessie, a Swiss blockchain fund co-founder. According to prosecutors, the pair conspired to lure Carturan to their SoHo property under the pretense of a business meeting. Carturan, reportedly worth $30 million, arrived at the townhouse on May 6, believing he was there to discuss potential investments or collaborations. Instead, he walked into a meticulously planned trap.
Once inside, Carturan was allegedly overpowered and held captive. What followed was a nearly three-week ordeal that can only be described as a nightmare. Prosecutors allege that Woeltz and Duplessie subjected their captive to horrific acts of violence in an attempt to force him to hand over access to his cryptocurrency accounts.
Court documents reveal gruesome details: Carturan was reportedly beaten, pistol-whipped, and shocked with electricity while his feet were submerged in water—a method designed to maximize pain. The abuse escalated to even more disturbing levels, with reports of Carturan being urinated on, dangled from a staircase, and even injured with a chainsaw.
Despite the torture, Carturan reportedly refused to divulge the necessary passwords to his cryptocurrency holdings. His resilience ultimately gave him a chance to escape. Nearly three weeks after his abduction, a barefoot and visibly distressed Carturan managed to flee the townhouse when his captors became distracted. Security footage captured the moment he ran for help, flagging down an NYPD traffic officer. In the video, Carturan can be seen pleading for assistance, his appearance a testament to the brutal treatment he had endured.
The police responded swiftly. Woeltz was taken into custody and is currently being held without bail at Rikers Island. Duplessie, who had reportedly spent Memorial Day weekend enjoying the Hamptons, turned himself in shortly after the incident came to light. He, too, was arraigned in Manhattan Criminal Court and denied bail, as the judge cited concerns over him being a potential flight risk. Authorities also noted that Duplessie is facing separate criminal proceedings in Switzerland, which further complicated his legal situation.
The two suspects were no strangers to extravagance. Both Woeltz and Duplessie were known for their flashy lifestyles, often spending upwards of $100,000 in a single night at The Box, an exclusive erotic nightclub in the Lower East Side. They were also known for hosting wild afterparties at the very SoHo townhouse where the crime took place. These extravagant habits painted a picture of men who flaunted their wealth and operated in the high-stakes world of crypto trading with little regard for consequences.
An additional figure, Beatrice Folchi, an Italian national and Woeltz’s assistant, was initially detained by authorities during the investigation. However, she was later released pending further inquiries. Law enforcement sources have indicated that Folchi’s role in the case remains under scrutiny, and she has not been formally charged as of yet.
Carturan is currently receiving medical treatment at Bellevue Hospital, where he is recovering from the physical and psychological trauma inflicted upon him. The case has drawn widespread media attention, not only due to the severity of the alleged crimes but also because it highlights the dangers lurking in the largely unregulated world of cryptocurrency. The incident has exposed how the immense and often untraceable wealth in digital currencies can attract dangerous individuals seeking to exploit vulnerabilities for personal gain.
Adding to the sense of horror surrounding the case, a local Catholic priest was called to the SoHo townhouse to perform a ritual blessing, underscoring the disturbing nature of what had occurred there. The blessing, meant to cleanse the space of evil, served as a stark reminder of the darkness that had unfolded within those walls.
As the investigation continues, the crypto community is left grappling with the sobering reality of how lucrative—and perilous—the pursuit of digital riches can be. The case serves as a chilling warning: while cryptocurrency offers financial freedom and opportunity, it also presents unique risks. With billions of dollars stored in digital wallets protected only by passwords, those who possess large amounts of crypto can become prime targets for exploitation and violence.
Authorities are now working to piece together the full extent of the plot, and the crypto world waits anxiously as more details emerge. For now, Carturan’s harrowing experience stands as a grim testament to the potential dangers lurking beneath the glamorous surface of cryptocurrency wealth.