Swiss Businessman to Surrender in Brutal New York ‘Crypto Torture’ Case

A Swiss businessman is expected to surrender to New York authorities in a shocking crypto kidnapping case. He is suspected of helping Joel Woeltz — the so-called “Crypto King of Kentucky” — abduct and torture Italian crypto investor Teofrasto Carturan, reportedly worth $30 million.

Carturan was lured to New York on May 6 and held captive for 17 days in a Soho loft, where he was tortured in an attempt to extract his crypto wallet seed phrase. He endured electric shocks, threats with a power saw, and was allegedly forced to smoke crack. On May 23, he escaped barefoot and flagged down a traffic officer.

Woeltz has been arrested and remains in custody. The Swiss co-conspirator may already be in custody or is expected to surrender soon. This harrowing case highlights the growing dangers tied to high-profile crypto wealth.