Two men, William Duplessie and John Woeltz, accused of kidnapping and torturing a cryptocurrency holder in New York City, pleaded not guilty on Wednesday. The accused, charged with first-degree kidnapping, assault, and false imprisonment, allegedly held Michael Valentino Teofrasto Carturan captive in a SoHo apartment for about three weeks, attempting to extract his crypto wallet seed phrase through physical violence including electric shocks and beatings. Despite these allegations, their lawyers argue the accuser was not confined, citing evidence such as videos showing him laughing, smoking crack cocaine, and freely moving around.
The prosecution presented corroborative evidence including a chainsaw, a loaded pistol, and photos depicting the victim with a gun to his head and being set on fire, although the flames were quickly extinguished to avoid burn marks. Authorities suspect additional victims and suggest the defendants may have engaged in prior detentions of people against their will. The accused have been denied bail and remain in custody until their next court date scheduled for July 15.
This case is part of an alarming rise in crypto-related physical attacks globally, including previous incidents involving prominent industry figures such as Ledger CEO David Balland and Paymium CEO Pierre Noizat. Notably, NYC Mayor Eric Adams has promoted a crypto-friendly environment, hosting digital asset summits and advocating for Bitcoin-backed municipal bonds, while also calling for reforms to the BitLicense regulatory framework.