The murky underbelly of cryptocurrency has once again reared its head with the third arrest in a chilling Manhattan case that involved the kidnapping and torture of an Italian crypto investor. William Duplessie, suspected of playing a role in this brazen crime, turned himself in to New York City police on Tuesday after what insiders describe as protracted negotiations. This development marks the latest chapter in an alarming saga that began three weeks ago, when Michael Valentino Teofrasto Carturan, a crypto fund associate, was allegedly ambushed in a 17-room NoLiTa townhouse.
A Grim Ordeal Unfolds
Carturan’s ordeal reportedly began on May 6, when he arrived at the opulent Prince Street property, expecting to reunite with John Woeltz, a former fund partner. Instead, he was met with betrayal. Woeltz, along with Beatrice Folchi and allegedly Duplessie, executed a plan that police say was designed to extract the keys to a bitcoin wallet holding millions. The methods employed were nothing short of medieval: Carturan was assaulted, dangled from the top floor of the townhouse, and held at gunpoint. It was nearly three weeks before he managed a daring escape, alerting authorities and shedding light on the chilling events he endured.
“This case isn’t just about the money,” commented crypto analyst Dana Morgan. “It’s about the increasing physical risks that high-profile crypto users face. These incidents are becoming alarmingly frequent as the value of digital assets skyrockets.”
A Pattern of Violence
The Carturan case is not an isolated incident. Just across the Atlantic, kidnappings targeting crypto stakeholders are on the rise. In France, the daughter and grandson of Paymium CEO Pierre Noizat narrowly escaped a kidnapping attempt that was caught on video. In another harrowing episode, a crypto millionaire’s father was abducted, suffering the loss of a finger before his release. And then there’s the case of David Balland, Ledger’s co-founder, and his wife, who were snatched from their home, only to be rescued later by authorities.
These incidents underscore a disturbing trend: as digital currencies gain mainstream traction, those who hold significant amounts are increasingly vulnerable to such physical threats. “It’s a new frontier for crime,” noted cybersecurity expert Jules Navarro. “Crypto is intangible, but the people who own it are not. This shift requires a new approach to personal security.” This concern aligns with broader discussions on how crypto is becoming a matter of national security, as noted by the Deputy CIA director.
The Legal Battle Ahead
While Beatrice Folchi has been released with prosecution deferred, John Woeltz faces a court appearance on Wednesday. Both he and Duplessie are staring down charges of kidnapping, assault, and illegal gun possession. The legal proceedings promise to be closely watched, not just by the crypto community but also by law enforcement worldwide, as they navigate this emerging intersection of digital finance and crime.
The unfolding case raises questions about the adequacy of current security measures for crypto investors and the role of regulation in safeguarding against such threats. As the digital economy continues to expand, so too does the need for robust legal and protective frameworks. The community is closely monitoring how these cases will influence future policy and security practices, especially as crypto is poised to become the 12th sector of the economy.
The Road Ahead
As William Duplessie prepares to face the legal consequences of his alleged actions, the broader crypto community is left grappling with the implications of these violent events. How can investors protect themselves in an increasingly perilous environment? What responsibilities do cryptocurrency platforms bear in ensuring user safety? These are questions that, for now, remain unanswered.
Ultimately, the resolution of this case in the coming months will be pivotal. It may set a precedent for how similar crimes are prosecuted and how security protocols are reinforced. Until then, the industry watches with bated breath as the legal process unfolds, hoping for justice and perhaps, a bit of reassurance in a world where digital wealth can have very real-world risks.
Source
This article is based on: Third Arrest Made in Manhattan Bitcoin Kidnapping, Torture Case
Further Reading
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Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
