New Arrest in Crypto Kidnapping Case Tied to Italian Victim in NYC
On 27 May, 33-year-old William Duplessie surrendered to New York authorities in connection with the recent kidnapping, torture, and attempted extortion of an Italian tourist.
According to NYPD Commissioner Jessica Tisch, Duplessie will face charges of “kidnapping and false imprisonment of an associate.”
William Duplessie is the second man arrested in kidnapping & torture of an Italian citizen at a townhouse in Nolita when he wouldn’t give up his bitcoin password. First suspect, John Woeltz, is known as the crypto king of Kentucky. Relationship between the 3 is unknown. @1010WINS pic.twitter.com/hb3gaca1mD
— Mack Rosenberg (@MackRosenberg) May 27, 2025
His arrest is the latest development in a disturbing trend of targeted abductions and ransom schemes aimed at crypto investors and their inner circles—raising serious concerns across the industry and prompting a wave of enhanced security protocols.
Duplessie’s case is closely tied to that of crypto investor John Woeltz, who was previously taken into custody for his alleged role in the incident.
Both men are connected to an NYC-based crypto hedge fund.
According to a profile on Kando.Tech, Duplessie is listed as the co-founder of Switzerland-based Pangaea Digital Asset Fund, a firm focused on restructuring distressed blockchain ventures.
His surrender followed several days of negotiations with the NYPD.
Also implicated was Woeltz’s assistant, Italian national Beatrice Folchi, who was arrested but later released without charges.
A crypto investor worth $100M (left) and his assistant (right) were just arrested for allegedly kidnapping and torturing a tourist in NYC to extract his Bitcoin password.
This incident highlights the darker side of unregulated digital assets.
Source: AP News pic.twitter.com/mpFGVTpKTf
— FinAdviNY (@FinAdviNY) May 26, 2025
The investigation remains active as authorities continue to unravel the full scope of the scheme.
Crypto Theft of Italian Man Involved Kidnapping, Drugs, and Torture
Michael Valentino Teofrasto Carturan, the 28-year-old Italian tourist, was abducted in Manhattan and held captive for 17 days in a luxury SoHo townhome before managing a daring escape and notifying police.
According to his account, the captors bound him, stole his passport and phone, and subjected him to repeated physical abuse—including beatings with a firearm and electric shocks from a Taser.
In one particularly brutal tactic, they reportedly submerged his feet in water while tasing him in an attempt to force him to hand over the private keys to his cryptocurrency holdings.
A second cryptocurrency investor has surrendered to police in the alleged kidnapping and torture of a man inside an upscale Manhattan apartment. Authorities say the victim was beaten and held for weeks by captors seeking access to his Bitcoin password.
NEW YORK (AP) — A second… pic.twitter.com/OB5DVfs3uB
— Eugene (@BreakingNews4X) May 27, 2025
The attackers' goal was clear: access to Carturan’s estimated $30 million in crypto assets.
Eventually, he agreed to retrieve his seed phrase, stored on a laptop in another room.
Seizing the moment when one of the suspects, identified as Woeltz, turned his back, Carturan fled the property and flagged down a police officer nearby.
Following the report, NYPD arrested Woeltz—dubbed the “crypto king of Kentucky”—and charged him with kidnapping for ransom, unlawful imprisonment, assault, and other felony offenses.
The case has spotlighted a chilling pattern of targeted violence against wealthy crypto holders and raised urgent questions about the security vulnerabilities surrounding digital wealth.
We're 21 weeks into 2025 and there have been 25 documented wrench attacks. My prediction that we'll average 1 attack per week this year is looking on target.https://t.co/vspSOmuELo
— Jameson Lopp (@lopp) May 24, 2025
Crypto Captor’s Family Cites Manipulation
The family of Woeltz, whose net worth is reportedly in the hundreds of millions, claims he may have been “manipulated” in connection with the alleged crimes.
Woeltz’s relative told the media:
“He’s a kind, caring, loving person so he was completely controlled by other people.”
Woeltz remains in custody without bail as he awaits trial and is scheduled to appear in court for a follow-up hearing on 28 May.
Meanwhile, the timeline for Duplessie’s next court appearance has not yet been confirmed.
