Alleged Kidnapper of Bitcoin Investor Released on $1 Million Bond

John Woeltz, a 37-year-old crypto entrepreneur, was released from Rikers Island after posting a $1 million bond. He faces charges of kidnapping and torturing Italian Bitcoin investor Michael Valentino Teofrasto Carturan in New York. Woeltz initially held without bail, secured his release while his alleged accomplice, William Duplessie, remains in custody.

Key details include:

The attack occurred over 17 days as Woeltz and Duplessie sought access to Carturan's multimillion-dollar Bitcoin holdings.
Carturan reported being ambushed, bound, beaten, and forced to take drugs during his captivity.
He escaped on May 23, 2025, and alerted authorities.

Both suspects are scheduled to appear in court on October 15 as investigations continue. This incident highlights the rising physical threats faced by crypto investors, prompting them to enhance personal security measures amid increasing risks associated with crypto wealth.

Similar cases of kidnapping for cryptocurrency theft have been reported this year, indicating a troubling trend in the industry.