Kentucky Bitcoin Torture: Crypto King Arrested
- John woeltz, 37, once hailed as a rising star in the crypto world, now faces charges of kidnapping and torture following his arrest in New York City on...
- Woeltz, known in some circles as the "crypto king of Kentucky," was taken into custody after Michael Valentino Teofrasto Carturan, 28, an Italian citizen, escaped from Woeltz's luxury...
- Carturan alleges he was held for three weeks in the 17-room townhouse after arriving on May 6.
John woeltz,onc a prominent figure in the crypto world,has been arrested in New York City on charges of kidnapping and torture in a shocking case involving Bitcoin. Allegedly, the “crypto king of Kentucky” held a man captive for three weeks, brutally torturing him to obtain his cryptocurrency password, which held access to millions of dollars. This harrowing ordeal, involving pistol-whipping, tasering, cocaine use, and even cutting a victim’s leg with a saw, has sent shockwaves through the financial community. The victim, Michael Carturan, finally escaped, leading to Woeltz’s apprehension. This case, one of the most extreme in a wave of crypto-related kidnappings, highlights the risks for digital currency holders.News Directory 3 is keeping a close watch on the developments. Discover what’s next as the inquiry unfolds, and further details surface in the courtroom.
kentucky ‘Crypto King’ Arrested in NYC Bitcoin Torture Case
John woeltz, 37, once hailed as a rising star in the crypto world, now faces charges of kidnapping and torture following his arrest in New York City on Friday. The alleged crime: attempting to extract a Bitcoin password from a man he held captive.
Woeltz, known in some circles as the “crypto king of Kentucky,” was taken into custody after Michael Valentino Teofrasto Carturan, 28, an Italian citizen, escaped from Woeltz’s luxury NoLIta apartment.Carturan flagged down a traffic agent, who then alerted police, according to reports.
Carturan alleges he was held for three weeks in the 17-room townhouse after arriving on May 6. Prosecutors say Woeltz and an alleged accomplice, William Duplessie, arrested Tuesday, confiscated Carturan’s passport and electronic devices. They threatened him, demanding the password to his Bitcoin wallet, which contained millions of dollars in cryptocurrency.
Authorities say Carturan was subjected to brutal treatment, including pistol-whipping, tasering, forced crack cocaine use, and having his leg cut with a saw. Carturan told police he was even suspended over a ledge of the five-story building.
Woeltz grew up in Paducah, Ky., and graduated from the University of Kentucky. He later moved west to invest in tech startups. he entered the crypto space around 2018, participating in the ETHGlobal San Francisco hackathon. He later became managing director of Silicon River Capital and a blockchain-based investment fund.
More recently, Woeltz became involved in Bitcoin mining in Kentucky and was chosen to join a state working group focused on blockchain technology for critical infrastructure.
Court documents show Woeltz faces charges of kidnapping, assault, unlawful imprisonment, and criminal possession of a firearm.
The New York City case is the latest in a string of kidnappings targeting wealthy crypto owners, leading some to purchase “wrench attack” insurance.
What’s next
Woeltz is expected to face a judge in New York City. The investigation is ongoing, and further details are expected to emerge as the case proceeds.