Crypto Investor Charged with Kidnapping and Torture in Bitcoin Extortion Case

In a shocking incident highlighting the darker side of cryptocurrency wealth, John Woeltz, a 37-year-old crypto investor from Kentucky, has been arrested and charged with kidnapping, assault, and other crimes after allegedly torturing a 28-year-old Italian tourist in a luxury New York City townhouse to extort his Bitcoin password.

The victim, Michael Valentino Teofrasto Carturan, reportedly traveled from Turin to New York on May 6, 2025, under the pretense of resolving a prior crypto dispute with Woeltz. Upon arrival, Carturan was allegedly held captive for three weeks in a SoHo townhouse, where he endured severe abuse, including electrocution, beatings, and psychological torment, all aimed at coercing him into revealing his Bitcoin wallet credentials.

Carturan managed to escape on May 23 and alerted authorities. A subsequent search of the property uncovered drugs, weapons, and incriminating evidence, including Polaroid photos documenting the torture.

Law enforcement sources indicate that a second individual involved in the case, a Swiss crypto millionaire and co-founder of a trading firm, is expected to surrender to the NYPD.

This incident underscores the potential risks associated with the anonymity and value of cryptocurrencies, emphasizing the need for increased security measures and awareness within the crypto community.

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