Michael Valentino Teofrasto Carturan, a 28-year-old Italian crypto entrepreneur, faced a harrowing experience after being allegedly kidnapped and tortured for his Bitcoin password. Held captive for 17 days in a luxurious $21 million townhouse in SoHo, New York City, Carturan was subjected to severe physical abuse, leaving him with significant injuries. Law enforcement accounts detail how Carturan was bound with electrical wire, tased in water, cut with a chainsaw, and subjected to drug-induced torment. His tormentors, crypto entrepreneur John Woeltz and Swiss businessman William Duplessie, further exacerbated his trauma by destroying his passport, thwarting any chances of escape.
The alarming situation began when Carturan traveled from Rivoli, a town near Turin, to meet Woeltz in New York on May 6. He had reportedly been lured under the pretense of discussing an issue involving stolen Bitcoin. Instead, he became a victim of extortion, with Woeltz and Duplessie allegedly threatening his life and family unless he provided access to his Bitcoin wallet. The severity of the situation escalated with the use of extreme violence, including physical threats and the brutal backdrop of the captive setting, which highlighted the risk of crypto-related crimes escalating to personal crises.
After enduring weeks of relentless abuse, Carturan made a desperate escape on May 23, flagging down a traffic officer barefoot outside the townhouse. His brave escape spurred a swift response from law enforcement, leading to the arrest of Woeltz and Duplessie, who are now facing severe legal repercussions. As the investigation unfolds, the chilling details of Carturan’s captivity are coming to light, drawing attention to the potential dangers inherent in the high-stakes world of cryptocurrency.
Following his rescue, Carturan reached out to the Italian consulate to secure a new passport, signifying his desire to return home safely. Reports indicate that his family has remained tight-lipped about the situation, seeking to maintain privacy during this traumatic period. Nevertheless, connections have been established between his family and the Italian Foreign Ministry, paving the way for further assistance and support in navigating this harrowing ordeal.
Carturan’s background adds a layer of complexity to this incident. As someone who had previously studied psychology and transitioned into cryptocurrency trading, his journey reflects the broader narratives surrounding individuals drawn to the volatility and risks of digital currency markets. His aspiration to reclaim stolen assets quickly devolved into a nightmare, revealing the dark undercurrents often lurking within the crypto world. With his net worth reported at $30 million and that of Woeltz estimated at $100 million, the stakes were alarmingly high in this conflict.
With court proceedings set to begin on June 11 against his alleged captors, the implications of this case extend beyond Carturan’s personal trauma. It raises critical discussions about the vulnerabilities associated with cryptocurrency, the potential for violence in disputes over digital assets, and the urgent need for effective safeguards within this rapidly evolving financial landscape. As Carturan begins to rebuild his life, the incident serves as a haunting reminder of the lengths some will go to reclaim their wealth and the ever-present risks in the pursuit of success in the digital age.
