NYC Crypto Torture Case: Accused Set Free After Posting $1M Bail

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An accused torturer walked free this week after two months behind bars. According to a report, 37-year-old John Woeltz left Rikers Island on a $1 million bond this Thursday. His alleged partner, 33-year-old William Duplessie, remains in custody.

Alleged Kidnapping And Brutality

Based on reports, Woeltz and Duplessie forced Italian crypto trader Michael Valentino Teofrasto Carturan to hand over his bitcoin password. Carturan, 28, was held in a Manhattan townhouse for three weeks.

During that time, the pair took his electronic devices and passport so he could not reach his funds. They even wrote a manifesto laying out their plan to steal his cryptocurrency, which is believed to be worth $100 million.

Alleged bitcoin torturer walks free on $1M bond after two-month Rikers Island detention https://t.co/3CcRtHZVT1

— Fox News (@FoxNews) August 1, 2025

Woeltz’s release came after Manhattan Supreme Court set bond at $1 million each for him and Duplessie. His father posted a mix of cash and property to secure his freedom.

Now, Woeltz must stay at home unless he needs to see a doctor, meet his lawyers, or handle an emergency. He will wear an electronic monitor to make sure he follows the rules.

Charges And Defense Claims

Both men pleaded not guilty to charges of kidnapping and torture. Defense attorneys claimed this was “fraternity-like hazing” with Carturan acting as a pledge. They argued the rough treatment was no worse than typical college initiation rituals.

Prosecutors disagree. They say Carturan was beaten with electric wires, hit on the head with a firearm, and threatened with death if he did not unlock his bitcoin. At one point, he was carried up the stairs and dangled over a ledge while his captors threatened to kill him.

Carturan eventually managed to flee and flagged down a traffic officer nearby. He later told authorities that his captors forced him to take drugs and even urinated on him to humiliate him. Woeltz is a Kentucky-based cryptocurrency investor. Duplessie lives in Miami. Both could face years in prison if convicted.

Next Court Date And Wider Concerns

Their next court date is set for October 15. According to legal experts, lengthy pretrial waits are common in high-profile cases. Observers say this case is a stark warning for anyone who keeps large sums of money locked behind a single password. Strong storage plans and backup methods can help—but as Carturan’s ordeal shows, they can’t stop every crime.

Featured image from Pexels, chart from TradingView

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