In a disturbing case that reads like a Hollywood thriller, a cryptocurrency tycoon with an estimated net worth of £73 million has been accused of kidnapping and torturing an Italian tourist in a twisted plot to access a fortune in Bitcoin. John Woeltz, 37, allegedly lured 28-year-old crypto investor Michele Carturan to a luxury SoHo apartment in New York, where he held him captive for 17 days. What followed was a horrifying ordeal of physical and psychological abuse, all aimed at forcing the victim to hand over access to his multi-million-pound cryptocurrency assets.
This high-profile case has sent shockwaves through the crypto world and beyond, with authorities revealing that Woeltz used a combination of brutality, intimidation, and sophisticated manipulation in a desperate attempt to unlock a digital treasure chest. The incident highlights the dark underbelly of the cryptocurrency boom—where anonymous wealth and unregulated markets can make individuals targets of violent crime.
As investigations unfold, this case is raising critical questions about digital security, personal safety, and the potential for abuse in the crypto industry. Here’s everything you need to know about the accused, the victim, and what happened inside that seemingly pristine New York townhouse.
Who is John Woeltz?
John Woeltz is a name not widely known to the general public but familiar in certain corners of the cryptocurrency and investment world. Based out of Kentucky, Woeltz reportedly amassed a fortune through early investments in Bitcoin and blockchain startups, boasting a net worth that topped £73 million ($100 million). His lifestyle, however, remained largely under the radar—until now.
Described by sources as charismatic yet secretive, Woeltz had been known to network through online crypto forums and luxury investor circles. His wealth reportedly came from a mix of crypto holdings, mining operations, and fintech ventures. But behind the glossy image of a successful tech investor, prosecutors allege he was leading a darker, more sinister double life—targeting unsuspecting crypto holders for their digital fortunes.
According to police, Woeltz carefully curated his persona, using social engineering tactics and luxury settings to lure victims into his trust. Michele Carturan, the victim in this case, is believed to have been targeted precisely because of his high-value crypto portfolio—estimated at over £30 million.
The Shocking Kidnapping in SoHo
The events began unfolding on May 6, 2025, when Carturan, a cryptocurrency trader from Turin, Italy, traveled to New York for what he believed was a business opportunity. According to court documents, Woeltz had invited him to discuss a joint crypto venture and extended an invitation to his townhouse on Prince Street in SoHo, one of New York’s most expensive neighborhoods.
Once inside, the meeting quickly took a dark turn. Police allege that Woeltz seized Carturan’s passport and confiscated his electronic devices. Over the next 17 days, the Italian tourist was held captive, beaten, electrocuted, and psychologically tormented in a calculated effort to extract his cryptocurrency account credentials.
The kidnapping was not only meticulously planned but also cruelly executed. Prosecutors revealed in court that Woeltz kept Carturan tied up with metal chains and administered electric shocks while taunting him with a chainsaw. The horror was compounded by the fact that these actions were reportedly documented—Woeltz is said to have taken Polaroid photos of the abuse, possibly as leverage or for sadistic pleasure.
Inside the High-End Torture Dungeon
Neighbors had no idea what was happening inside the stylish, multi-million-dollar SoHo apartment. The residence, described by real estate listings as “modern luxury with floor-to-ceiling windows,” became a nightmarish prison cell for Carturan.
Court filings detail how the apartment had been modified with equipment and substances consistent with abuse. Investigators seized stun guns, restraints, drugs, surveillance equipment, and even a chainsaw—used not for actual mutilation, but to instill terror. The victim was allegedly forced to take drugs and was deprived of sleep, further deteriorating his ability to resist or think clearly.
According to Carturan’s statement to police, Woeltz constantly demanded Bitcoin passwords and access codes. He reportedly warned that if Carturan didn’t comply, he would “vanish without a trace.” The horror only ended when Carturan managed a daring escape, barefoot and bloodied, sprinting into the Manhattan streets to flag down a traffic officer.
Bitcoin as the Bait
The underlying motive in this chilling crime was access to Carturan’s crypto fortune. With Bitcoin and other cryptocurrencies stored in digital wallets protected by private keys, access to those keys is equivalent to access to a bank vault. Unlike traditional financial accounts, crypto wallets can’t be locked down by banks or reversed by authorities, making them an attractive—and dangerous—target for criminals.
Investigators believe Woeltz saw Carturan as a “walking vault” and devised a plan to extract those keys by any means necessary. Court testimony indicates he repeatedly pressured Carturan for authentication codes and private keys, making false promises of release in exchange for compliance.
This incident adds to the growing number of crimes linked to cryptocurrency, where investors—especially those flaunting wealth online—become targets for scams, theft, and now, extreme physical violence. As crypto adoption grows, so too does the need for enhanced security practices among users.
