Bitcoin News Today: Alleged Bitcoin Torturer Released on $1M Bail After 2-Month Detention

John Woeltz, a 37-year-old individual with ties to the cryptocurrency industry, was released on $1 million bail after spending two months in custody at Rikers Island. A Manhattan judge approved his bond a week prior to his release. Woeltz, one of two suspects accused of kidnapping and torturing Italian cryptocurrency investor Michael Valentino Teofrasto Carturan, has pleaded not guilty. His defense team described the alleged torture as resembling a “fraternity hazing,” attempting to downplay the brutality of the accusations [1]. Woeltz's father provided a mix of cash and property to secure the bail, and Woeltz is now under home arrest with an electronic monitoring bracelet, restricted to leaving home only for medical appointments, legal meetings, or emergencies [2].

Carturan, a 28-year-old Italian investor, was allegedly held captive in a New York apartment for over three weeks. Prosecutors claim that Woeltz and his co-accused, William Duplessie, 33, subjected the victim to severe physical abuse, including electric shocks, blunt force trauma, and threats of death. According to a criminal complaint, the pair had reportedly prepared a manifesto outlining how they planned to extract Carturan’s Bitcoin wallet password. When the victim refused to cooperate, they allegedly escalated to violent measures, including dragging him to the top of a flight of stairs and hanging him over the ledge [3]. The victim was also allegedly humiliated by being urinated on and forced to take drugs. The defendants are alleged to have made threats not only against Carturan but also against his family in Italy.

Duplessie, the other suspect, remains in custody, while Woeltz’s release has raised concerns among legal observers and the public. The case underscores a disturbing trend of increasing violence in cryptocurrency-related crimes. As digital assets become more valuable and complex, they are increasingly targeted by criminals seeking to exploit their potential. This case has drawn attention from law enforcement and financial regulators, who are increasingly scrutinizing the risks associated with high-value digital assets [1].

Both defendants are scheduled to appear in court on October 15, where further legal proceedings will unfold. The incident highlights the darker side of the cryptocurrency space, where the intersection of wealth and anonymity can lead to extreme criminal behavior. As the trial progresses, the legal arguments and evidence will determine the extent to which the defendants are held accountable for their alleged actions [3].

Sources:

[1] Alleged bitcoin torturer walks free on $1M bond after two-month Rikers Island detention. (https://www.fox4news.com/news/alleged-bitcoin-torturer-walks-free-bond)

[2] Alleged Bitcoin Torture Suspect Freed on $1M Bail After 2 Months in Custody. (https://cryptopotato.com/alleged-bitcoin-torture-suspect-freed-on-1m-bail-after-2-months-in-custody/)

[3] Alleged Bitcoin Torturer Walks Free on $1M Bond After 2 Months in Custody. (https://cryptorank.io/news/feed/1b1dd-alleged-bitcoin-torturer-walks-free-on-1m-bond)