Swiss Businessman to Turn Himself In Amid Shocking New York ‘Crypto Torture’ Case — Victim Escapes Barefoot
A stunning development has emerged in the ongoing investigation of a harrowing crypto-related abduction in New York. A Swiss entrepreneur is reportedly preparing to surrender to authorities after being linked to a high-profile kidnapping and torture case that has sent shockwaves through the cryptocurrency community.
Second Suspect Linked to Notorious Kidnapping Case
Multiple U.S. media outlets report that a Swiss businessman, who co-founded a trading company, is either already in police custody or is expected to turn himself in soon. He is accused of assisting Joel Woeltz—referred to as the “Crypto King of Kentucky”—in the abduction and assault of Italian crypto investor Teofrasto Carturan, whose assets are estimated at $30 million.
Woeltz currently faces serious charges, including kidnapping, unlawful detention, and assault, while investigators probe the full extent of the Swiss suspect’s involvement.
Seventeen Days of Ordeal Over Crypto Wallet Access
Carturan traveled to New York on May 6, allegedly to meet potential business associates. Instead, he was detained in a luxury Soho loft, where he endured over two weeks of brutal treatment. Reports claim the assailants used electrical cords to restrain him, subjected him to electric shocks, and even threatened him with a power saw—all in an attempt to extract the seed phrase for his crypto holdings.
Further details from police allege Carturan was forced to use crack cocaine, humiliated, and threatened at gunpoint. Photographs reportedly show him bound to a chair, and the apartment itself was described as chaotic, with party paraphernalia and luxury liquor scattered across multiple floors.
Dramatic Escape Captured on Video
On May 23, the day kidnappers allegedly warned would be Carturan’s last, he managed to persuade Woeltz to let him use his laptop. Seizing the opportunity, Carturan escaped barefoot onto the street. Security cameras captured him racing to a nearby traffic officer for assistance.
Police responded quickly, arresting Woeltz at the Soho residence. He remains in detention, with his next court hearing scheduled for May 28.
Crypto Fortunes Draw Dangerous Attention
This disturbing episode highlights the real-world risks that can come with public crypto wealth. Authorities are now focusing on the Swiss businessman’s exact role, with some sources indicating he may have already agreed to cooperate with law enforcement.
Key Takeaway
This chilling attempt to force a crypto seed phrase through extreme violence underscores the very real dangers associated with digital assets. The investigation is ongoing, but this case serves as a stark warning: significant crypto holdings can make individuals attractive targets for crime.
#CryptoCrime #CryptoSecurity #Blockchain #Web3Security
Stay informed—follow our updates for the latest developments and essential insights from the world of digital assets!
Disclaimer:
The content shared in this article is for informational and educational purposes only and should not be considered as investment advice or a recommendation. Cryptocurrency investments carry risk and may result in financial loss. Always conduct your own research and consult with a financial advisor before making investment decisions.