Another suspect to surrender in NYC crypto torture case

Second Suspect in NYC Crypto Torture Case to Surrender

A Swiss cryptocurrency trader linked to a brutal kidnapping and torture case in New York City is reportedly set to turn himself in to authorities. The incident, centered on an attempt to steal a Bitcoin wallet seed phrase, has shocked the crypto community and highlighted the darker side of digital asset security.

Details of the Alleged Crime

The case involves the alleged abduction and torture of Michael Valentino Teofrasto Carturan, a 28-year-old Italian man with an estimated net worth of $30 million. Authorities say Carturan was lured to a high-end SoHo apartment on May 6, 2025, where he was held captive for weeks. The primary suspect, 37-year-old John Woeltz, a Kentucky-based crypto investor, allegedly subjected Carturan to horrific abuse to extract his Bitcoin seed phrase. Reports detail Carturan being bound with electrical cords, electrocuted, tased with his feet in water, and threatened with an electric chainsaw. Polaroid photos found by police allegedly show him tied to a chair with a gun to his head, and he was reportedly forced to smoke crack cocaine while enduring psychological torment.

Carturan escaped on May 23 after tricking Woeltz into retrieving a laptop, fleeing barefoot and bloodied to flag down a traffic officer. Woeltz was arrested that night and charged with kidnapping, assault, unlawful imprisonment, and criminal possession of a firearm. He was ordered held without bail and forced to surrender his passport, with prosecutors citing his access to a private jet and helicopter as a flight risk.

Second Suspect Emerges

The Swiss trader, whose identity has not been disclosed, is expected to surrender to the NYPD within the week, according to ABC7 and NBC reports, though FOX5 New York suggested he may already be in custody, citing conflicting sources. Described as a business partner of Woeltz, the suspect allegedly played a role in the scheme to drain Carturan’s Bitcoin wallet. A third individual, 24-year-old Beatrice Folchi, was arrested but later released after the Manhattan DA declined to prosecute her pending further investigation. The SoHo apartment, rented by Woeltz for $30,000 to $40,000 a month, was described as a “high-end frat house” with stripper poles and luxury liquor scattered across its five stories.

Community Reaction

The case has drawn significant attention, with some passersby taking selfies outside the Prince Street townhouse, still wrapped in police tape as of May 24. On X, users expressed a mix of horror and intrigue, with posts noting a Catholic priest performing a ritual at the site, sprinkling holy water on the property, possibly to cleanse it of the violent events. The crypto community has voiced concerns over the risks tied to holding significant digital assets, with this incident underscoring the need for robust personal security measures.

Broader Implications

This case highlights the vulnerabilities of cryptocurrency holders, particularly as digital assets gain mainstream traction. While Bitcoin and other cryptocurrencies offer financial autonomy, they also attract criminal elements seeking to exploit holders through extreme measures. As the investigation continues, the crypto industry may face increased scrutiny, potentially spurring calls for enhanced regulations or safety protocols to protect investors from such violent schemes.