Horror in SoHo: Crypto Billionaire Tortured for Bitcoin Password

Michael Valentino Teofrasto Carturan, a 28-year-old Italian crypto entrepreneur, came to New York City with business hopes.

However, based on information we quoted from Beincrypto media, on May 6, 2025, he was trapped in a nightmare: kidnapped and held captive for almost three weeks in a luxury townhouse in SoHo.

The goal? His Bitcoin wallet password worth millions of dollars.

The Masterminds of the Crime: Crypto Entrepreneur Duo

The perpetrators behind this terror are John Woeltz, known as the “Crypto King of Kentucky,” and William Duplessie, a Swiss businessman.

The two, who previously worked with Carturan, planned the kidnapping to seize his digital assets.

Woeltz is now languishing in Rikers Island without bail, while Duplessie turned himself in after relaxing in the Hamptons.

Brutal Torture in Nolita

In a $30,000–$40,000-a-month rented townhouse, Carturan was subjected to horrific torture: electrocuted under water, beaten with a pistol, threatened with a chainsaw, forced to take cocaine, and monitored with an AirTag around his neck.

Police found Polaroid photos, guns, and other torture devices at the scene.

Escape from Hell

On May 23, 2025, Carturan managed to escape. Covered in wounds and shoeless, he ran through the streets of SoHo and begged NYPD officers for help.

CCTV footage captured his dramatic escape.

Sentencing Awaits

Woeltz and Duplessie now face serious charges, including kidnapping, assault, and illegal weapons possession.

Duplessie was denied $1 million bail, while Woeltz’s assistant, Beatrice Folchi, was released without formal charges for now.

Real Threat to Crypto Investors

This case is a strong warning to the crypto world. With the soaring value of digital assets, crimes such as “wrench attacks” are increasingly lurking.

Authorities are urged to strengthen protection for crypto investors from the threat of violence.