Crypto Horror in SoHo: Investor Kidnaps Tourist in Bitcoin Ransom Ordeal

In a case that has shocked even seasoned law enforcement officers, a Kentucky-based cryptocurrency entrepreneur has been arrested and charged with the brutal kidnapping and torture of an Italian tourist in a high-end SoHo townhouse, all to steal access to his victim’s Bitcoin holdings.

John Woeltz, 37, a self-described crypto investor and frequent presence in online trading circles, allegedly orchestrated a violent scheme to extort Bitcoin credentials from Michael Valentino Teofrasto Carturan, a 28-year-old tourist visiting New York from Italy.

A Cryptocurrency Scheme Turns Criminal

The nightmare began on May 6, when Carturan was reportedly lured to a rented luxury townhouse in Manhattan under the pretense of resolving a prior cryptocurrency transaction involving Woeltz. According to prosecutors, once inside, Carturan was forcibly restrained and held captive for nearly three weeks.

Court documents detail an alarming litany of abuse. Carturan was allegedly:

  • Electrocuted and beaten

  • Forced to ingest psychedelic drugs

  • Threatened with a chainsaw

  • Coerced into divulging his Bitcoin wallet passcodes

Prosecutors say the attackers made chilling threats, warning Carturan that his family would be harmed if he failed to comply. The ultimate goal: to seize control of a substantial cryptocurrency fortune believed to be in Carturan’s possession.

Escape and Arrest

On the morning of May 23, Carturan managed a daring escape, fleeing barefoot and bloodied into the streets of SoHo. He encountered a traffic enforcement officer who alerted the NYPD.

When officers arrived at the townhouse, they found Woeltz calmly emerging in a bathrobe. He was taken into custody without incident.

Woeltz now faces a laundry list of charges, including:

  • First-degree kidnapping

  • Unlawful imprisonment

  • Aggravated assault

  • Criminal possession of a firearm

A judge ordered him held without bail, citing him as a flight risk due to reports of his access to private aircraft and significant crypto assets.

A second individual, 24-year-old Beatrice Folchi, identified as Woeltz’s assistant, was also detained but has not yet been formally charged.

The Rise of “Wrench Attacks”

The case has drawn fresh attention to the phenomenon known in crypto circles as a “wrench attack”, a term for violent theft of cryptocurrency that circumvents digital security by targeting individuals physically. While hardware wallets and encryption can protect against hackers, they offer little defense against coercion or torture.

“This is a deeply disturbing escalation in crypto-related crime,” said Martin Garcia, a cybersecurity expert at NYU. “It underscores that as cryptocurrency adoption grows, so does the need for not just digital, but personal safety protocols.”

What’s Next?

Authorities are now investigating whether Woeltz may have targeted other victims, and whether this incident was part of a broader pattern of criminal behavior masked under the guise of crypto entrepreneurship.

As Carturan recovers and a community reels from the horror story unfolding in a luxury Manhattan neighborhood, one thing is clear: the digital wealth revolution is not immune to very real and very human dangers.