John Woeltz, Linked to ‘John Walz Crypto,’ Accused of Kidnapping and Torture Over Bitcoin Password

In a startling case that has gripped the cryptocurrency community, John Woeltz, a 37-year-old investor from Kentucky, has been arrested and charged with kidnapping and torturing a 28-year-old Italian businessman in a luxury Manhattan apartment. The incident, which has been mistakenly associated with the term “john walz crypto” in online searches, sheds light on the dark underbelly of the crypto world, where fortunes can lead to extreme measures.

Background on John Woeltz

John Woeltz, often referred to as the “crypto king of Kentucky,” is estimated to be worth $100 million. He owns a 150-acre farm in Smithland, Kentucky, valued at over $860,000, and was renting a high-end apartment in SoHo, Manhattan, for $30,000 to $40,000 a month. Woeltz’s involvement in blockchain and cryptocurrency, possibly including hedge fund investing in crypto assets, has made him a prominent figure in the industry. However, his name has recently been linked to the keyword “john walz crypto,” which appears to be a misspelling or confusion with his actual name.

Read more: Daughter of Crypto CEO Escapes Kidnapping Attempt in Paris

The Incident

The victim, a 28-year-old Italian businessman, arrived in New York City on May 6, 2025, and was taken to Woeltz’s apartment on Prince Street in SoHo, described by prosecutors as a “crypto commune.” There, he was allegedly held captive for over two weeks, from May 6 to May 23, 2025. During this period, he was subjected to severe torture, including:

• Being Tased with his feet in water

• Pistol-whipped, resulting in a head wound

• Cut with a chainsaw, causing an arm wound

• Forced to consume cocaine

• Threatened with harm to his family

• Hung over a ledge to intimidate him

These acts were allegedly carried out to coerce the victim into revealing his Bitcoin password. The victim, identified in some reports as Michael Valentino Teofrasto Carturan from Turin, Italy, and believed to be worth $30 million, had prior business dealings with Woeltz. On May 23, 2025, fearing for his life, the victim managed to escape the apartment barefoot and flagged down a traffic officer for help, leading to Woeltz’s arrest.

Legal Proceedings

John Woeltz was arraigned on May 24, 2025, in Manhattan Criminal Court and charged with:

Charge	Description
First-degree kidnapping	Holding the victim with intent to collect ransom
Two counts of second-degree assault	Causing physical harm to the victim
First-degree unlawful imprisonment	Illegally detaining the victim
Criminal possession of a weapon	Possessing a firearm used in the crime

Woeltz was ordered held without bail, and his next court date is scheduled for May 28, 2025. He could face 15 to 25 years in prison if convicted. Another suspect, Beatrice Folchi, aged 24, was initially arrested on kidnapping charges but was later released. A third male suspect, described as an “unapprehended accomplice,” remains at large, according to the New York Police Department (NYPD).

Evidence and Victim’s Condition

Upon searching the SoHo apartment, police discovered disturbing evidence, including:

• Polaroid pictures of the victim tied up and tortured

• Night vision goggles

• A bulletproof vest and ballistic helmets

• A firearm and ammunition

• T-shirts featuring images of the victim and crack cocaine

The victim sustained wounds on his arm from a chainsaw and on his head from being pistol-whipped. He was taken to Bellevue Hospital for treatment and is reported to be in stable condition.

Broader Context

This case highlights the increasing risks associated with cryptocurrency, where the promise of wealth can lead to criminal activities. The incident, often mistakenly referred to as the “john walz crypto” case, underscores the dark side of the cryptocurrency world. Reports indicate a rise in crypto-related crimes, such as kidnappings and extortion, as criminals target individuals with significant digital asset holdings. This event serves as a cautionary tale for the crypto community, emphasizing the need for robust security measures to protect digital assets and personal safety.

In The End,

The arrest of John Woeltz in connection with the kidnapping and torture of an Italian businessman over a Bitcoin password is a stark reminder of the potential dangers lurking in the cryptocurrency space. As news of the “john walz crypto” case spreads, it’s important to clarify that the individual involved is John Woeltz. As the legal proceedings continue, this case will likely have significant implications for how the cryptocurrency industry addresses security and the safety of its participants.