Crypto Investor Value $100M Accused of Torture Over Bitcoin Passwords in NYC Horror Ordeal

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A crypto investor dubbed the “Crypto King of Kentucky” allegedly held and tortured an Italian vacationer to extract his Bitcoin credentials. In the course of the raid on the townhouse, police discovered weapons, medicine, and Polaroids of the sufferer. The case reveals a worrying sample of violent crimes taking place all through the world that focus on individuals who personal cryptocurrencies. A rich crypto investor is claimed to have kidnapped and tortured an Italian vacationer in New York as a way to get entry to his Bitcoin pockets. Even skilled cops are surprised by the case, which has introduced up fears about how far thieves will go to get their fingers on digital cash.

Learn Extra: Germany Seizes €34M in Crypto from eXch in Main Crackdown on Darknet Laundering

A Crypto Empire, a $30K-a-Month Flat, and a Chilling Plot John Woeltz, 37, an early crypto adopter with an estimated fortune of $100 million, now faces critical expenses after police say he imprisoned and tortured 28-year-old Italian vacationer Michael Carturan in a luxurious eight-bedroom Manhattan townhouse.

Carturan was reportedly lured into the Soho residence on the pretext of a enterprise assembly. What adopted was a harrowing three-week ordeal: police say he was electrocuted, overwhelmed, urinated on, and even hung off a fifth-floor balcony—all to drive him into revealing his Bitcoin credentials.

Woeltz, who owns a number of luxurious properties and is understood for early investments in initiatives like HyperCash and Grin, was arrested on Might 23 after the sufferer managed a daring escape.

Learn Extra: Hacker Jailed for Triggering $3,000 Bitcoin Swing in SEC X Account Breach

Contained in the “Digital Gold” Hostage Disaster Police reviews reveal chilling particulars of the captivity. Carturan was allegedly stripped of his passport and digital gadgets on arrival. When he refused to give up his pockets password, captors sure him with electrical wire and subjected him to varied types of abuse, together with pressured drug use.

At one level, he was reportedly hung over a balcony ledge in a brutal try and intimidate him into revealing entry credentials for his Bitcoin.

Authorities later uncovered proof supporting the sufferer’s claims: cocaine, night time imaginative and prescient goggles, ammunition, a noticed, and disturbing Polaroid photographs displaying a gun pointed at Carturan’s head have been recovered throughout a raid.

An AirTag was discovered on Carturan, suggesting he was being tracked constantly. Investigators additionally reported that he had seen wounds in step with electrical burns, blunt drive trauma, and cuts from a noticed.

International Development: Crypto-Linked Kidnappings Escalate The stunning case comes amid a world rise in crypto-related violence. Authorities in Europe are investigating a number of incidents the place digital property have been the motive behind brutal crimes:

Paris (Might 2025): A failed kidnapping try focused the pregnant daughter of crypto pioneer Pierre Noizat. France (2024): Two males have been discovered with severed fingers in a failed ransom try concentrating on a crypto millionaire. Spain (2023): A crypto dealer managed to flee his captors after being held for over 48 hours in a villa outdoors Barcelona. These incidents, specialists warn, will not be remoted. As the worth of crypto portfolios climbs, so does the danger for holders. In contrast to conventional financial institution accounts, entry to wallets typically hinges on non-public keys or seed phrases—info that can not be reset or recovered if stolen.

Requires Higher Safety within the Crypto Area Crypto traders, significantly high-net-worth people, are being urged to undertake extra strong private and digital safety measures. From {hardware} pockets encryption to multi-signature wallets and chilly storage, specialists stress that no single layer of safety is sufficient in as we speak’s local weather.

In the meantime, Woeltz stays in custody with out bail and is predicted to look once more in Manhattan prison court docket subsequent week. Prosecutors declare he has entry to a personal jet and helicopter, making him a flight threat.

A second unidentified male suspect stays at giant, and police are persevering with to research hyperlinks between Woeltz and different crypto associates. A girl recognized as Beatrice Folchi, who was initially arrested in reference to the case, has denied any involvement.

Because the case unfolds, it’s turn out to be a brutal reminder that on the planet of unregulated wealth, digital property can carry very actual, bodily risks.

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