Defendants Plead Not Guilty in NYC Crypto Kidnapping and Torture Case
By Turner Wright | June 11, 2025
In a shocking case that underscores the rising dangers associated with cryptocurrency, two men have pleaded not guilty to serious charges of kidnapping and torture in New York City. The defendants, John Woeltz and William Duplessie, were formally arraigned on Wednesday at the New York Supreme Criminal Court, where they denied all allegations connected to the abduction of Michael Valentino Teofrasto Carturan, a cryptocurrency holder who was visiting the city.
Background of the Case
According to reports, Woeltz and Duplessie are accused of abducting Carturan, allegedly a personal acquaintance, and then subjecting him to brutal treatment in an attempt to force him to disclose access to his cryptocurrency wallet. This included tactics such as electric shocks and physical assaults during a three-week period in an apartment located in the SoHo neighborhood of Manhattan. The chilling sequence of events only came to an end when Carturan managed to escape and report his ordeal to the authorities.
Legal Proceedings and Potential Consequences
Justice Gregory Carro, presiding over the case, has ordered that both defendants be held without the possibility of bail. Should they be convicted of the charges against them, which include kidnapping and false imprisonment, they could face severe penalties, including the possibility of life imprisonment. As of the hearing, a trial date has yet to be established.
This incident is part of a broader trend regarding violence related to cryptocurrency. The rise of digital assets such as Bitcoin has led to increased criminal activity, with individuals involved in cryptocurrency being targeted for their potentially lucrative holdings. Recent news from France highlighted a similar situation, where armed assailants attempted to kidnap the family members of a cryptocurrency company CEO.
Allegations of Police Involvement
Adding further complexity to this case, it has been reported that two officers from the New York Police Department have been placed on modified duties amidst allegations of their involvement in the kidnapping incident. As of the most recent update, these officers do not face any criminal charges.
City’s Stance on Cryptocurrency Regulation
In a contrasting backdrop to the criminal exploits surrounding digital currencies, New York City Mayor Eric Adams has positioned the city as a burgeoning hub for cryptocurrency activity. The mayor has openly advocated for a friendlier regulatory environment for digital assets, hosting summits focused on the future of cryptocurrencies and pushing for innovative financial products such as Bitcoin-backed municipal bonds. Adams has also expressed criticism of the state’s longstanding BitLicense program, which mandates that any business conducting digital asset transactions with New York residents obtain a specific license.
As the situation unfolds, both the defendants and the broader cryptocurrency community will be keeping a close watch on the developments in this high-profile case, which brings to light the complex interplay between emerging financial technologies and criminal activity.
Conclusion
The case against Woeltz and Duplessie illustrates the profound challenges that accompany the rise of digital currencies. As cryptocurrencies continue to gain traction in various sectors, the potential for criminal exploitation is an alarming concern. This ongoing saga remains a cautionary tale, highlighting the necessity for regulatory measures alongside a robust response from law enforcement to safeguard individuals engaging in the cryptocurrency space.
This article was originally published by Cointelegraph.
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