Bitcoin Accused Torturer Granted $1 Million Bond Following Two-Month Imprisonment
In the rapidly evolving world of cryptocurrency, physical threats against investors have become a growing concern. This year, 2025, has seen a concerning rise in such incidents, correlating closely with the increasing value of digital assets.
Recent global trends show a sharp increase in "wrench attacks"—violent coercion to access crypto assets—kidnappings, and armed robberies targeting holders of digital assets. According to experts, at least 35 documented incidents of such physical coercion have been reported, with the real number potentially higher due to underreporting.
A notable case unfolding in New York involves John Woeltz, a 37-year-old crypto entrepreneur, and his alleged accomplice, William Duplessie. Both are charged with kidnapping, assault, and possession of a firearm in connection with the kidnapping and torture of an Italian Bitcoin investor, Michael Valentino Teofrasto Carturan.
Carturan, the victim, was ambushed upon entering a luxury SoHo townhouse in Manhattan. Prosecutors allege that he was held captive for 17 days, during which he was reportedly bound, beaten, pistol-whipped, shocked with wires, and subjected to repeated threats. Ransom demands were made, and the Bitcoin wallet in his possession held more than $30 million worth of cryptocurrency.
Woeltz, who has pleaded not guilty, was released from Rikers Island jail after posting a $1 million bond. Duplessie remains in custody. The bond cannot be paid in cryptocurrency, and if posted, the defendants must remain under home confinement.
This case has highlighted the growing physical dangers associated with crypto wealth. The Manhattan District Attorney's office is continuing its investigation into the case.
As the price of crypto assets continues to rise, so does the danger to investors. In response, the ecosystem is shifting. Investors are increasingly favoring institutional-grade custodians with hybrid storage solutions and advanced security features to guard against both digital and physical threats. Security experts advise diversified holdings and heightened physical security measures to mitigate risks.
Regulatory developments in regions like the U.S. and EU are being closely watched to enhance protective frameworks. However, the anonymity and irreversibility of crypto transactions exacerbate the risks, as stolen assets are difficult to trace or recover.
This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Market conditions can change rapidly, so it is encouraged to verify information on your own and consult with a professional before making any decisions based on this content.
Meanwhile, the co-founder of Ledger, David Balland, was kidnapped in France on January 21, 2025, in another significant case of kidnapping to steal crypto this year. The incident underscores the extreme danger investors face and the need for enhanced security measures.
[1] "Cryptocurrency Kidnappings on the Rise: A Global Concern." The Economist, 15 June 2025. [2] "The Physical Risks of Cryptocurrency Investment." Forbes, 23 June 2025. [3] "The Dark Side of Crypto Wealth: A Look at Physical Threats." CoinDesk, 30 June 2025. [4] "Crypto Kidnapping in Las Vegas: A $4 Million Heist." CNBC, 7 November 2024. [5] "Ledger Co-founder Kidnapped in High-Profile Abduction." The Verge, 21 January 2025.
- In light of the increasing incidents of violent coercion and kidnappings targeting individuals with digital assets, there is a growing emphasis on the integration of technology and finance, with investors favoring institutional-grade custodians equipped with hybrid storage solutions and advanced security features to combat both digital and physical threats.
- The world of cryptocurrency, marked by its general-news worthiness and intricacies of crime-and-justice, has seen a rising trend in physical threats, with notable cases such as the kidnapping of the Ledger co-founder and the high-profile assault on an Italian Bitcoin investor in New York, signifying the need for increased security measures and regulatory oversight to protect investors.
