New York City – May 29, 2025 — A second cryptocurrency investor has been arrested in connection with the alleged kidnapping and torture of an Italian man in a disturbing case driven by attempts to extract the password to a multi-million-dollar Bitcoin wallet.
William Duplessie, 32, surrendered to authorities on Wednesday and was charged for his alleged role in the kidnapping and extended torture of Michael Valentino Teofrasto Carturan, a 28-year-old Italian national. Duplessie, identified as a co-founder and head of sourcing at Pangea Blockchain Fund and an investor in several blockchain companies, is the latest suspect linked to a case that has shocked both the crypto and law enforcement communities.
Brutal Ordeal in Manhattan
Carturan, who arrived in New York from Italy on May 6, was allegedly lured to a townhouse in Manhattan’s upscale Nolita neighborhood by Duplessie and another man, John Woeltz, a 37-year-old blockchain investor from Kentucky. According to police, Woeltz was renting the townhouse for between $30,000 and $40,000 per month.
Carturan claims he was held captive for 17 days, during which he endured extreme physical and psychological abuse. His captors allegedly:
- Bound him with electrical tape
- Pistol-whipped and beat him
- Cut his leg with a saw
- Hung him off a roof
- Forced him to smoke crack cocaine
- Electrocuted him with a stun gun while his feet were submerged in water
- Threatened him with a chainsaw
- Made threats against his family
The attackers’ aim, Carturan told authorities, was to obtain the password to his cryptocurrency wallet, believed to be worth several million dollars.
Escape and Evidence
Carturan escaped when his captors left the townhouse to retrieve his laptop after he agreed to give them the wallet password. Barefoot and injured, he approached a traffic enforcement officer for help, leading to a swift response by NYPD.
Investigators later searched the townhouse and found evidence corroborating Carturan’s account, including:
- A chainsaw
- Crack cocaine
- Chicken wire
- Body armor, ballistic helmets, and night vision goggles
- Polaroid photographs showing Carturan with a firearm aimed at his head
- T-shirts printed with images of Carturan smoking crack
- Ammunition
- Traces of blood throughout the premises
Other Arrests and Developments
Woeltz was arrested Friday along with a 24-year-old woman, Beatrice Folchi, who was released pending further investigation. Prosecutors with the Manhattan District Attorney’s Office declined to press charges against her at this time.
Authorities believe the incident is part of a growing trend of crypto-related abductions, with wealthy investors being targeted for access to their digital assets. Similar cases have emerged in France and Western Europe, including one where a crypto firm owner had a finger severed by attackers attempting to access his wallet.
A Pattern of Crypto-Fueled Crimes
Law enforcement officials warn that the decentralized and often irreversible nature of cryptocurrency transactions makes crypto holders attractive targets for organized criminal networks. Unlike traditional bank accounts, access to a crypto wallet cannot be reset or recovered without the private key or password—making coercion, including violence, a growing concern.
The NYPD, FBI, and international partners continue to investigate the case and its potential connections to a wider network of criminal activity targeting digital currency holders.
This story is developing.
