6 Facts on Crypto Entrepreneurs Kidnapping Colleagues for Bitcoin: William Duplessie & John Woeltz

Jakarta, Pintu News – The criminal case involving two prominent crypto entrepreneurs, William Duplessie and John Woeltz, has shaken the global cryptocurrency industry.

The two were charged with kidnapping and torturing an Italian businessman to gain access to the victim’s Bitcoin assets. This incident was highlighted because the perpetrators were not ordinary street criminals, but successful businessmen with a big reputation in the crypto world.

1. Who are William Duplessie and John Woeltz?

John Woeltz (37) hails from Kentucky, USA, with a background in technology and blockchain. He participated in the ETHSan Francisco Hackathon in 2018 and founded Silicon River Capital, which focuses on blockchain projects in public infrastructure.

William Duplessie (33) is the CEO and co-founder of Pangea Blockchain Fund in Lugano, Switzerland. He started his crypto career in 2012 as an early miner and managed investments in projects such as Axie Infinity and StrongBlock.

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2. Chronology of the Alleged Kidnapping

According to the police report, on May 6, 2025, the two invited the victim, Michael Valentino Teofrasto Carturan (27), to a luxury townhouse in NoLita, Manhattan. Upon arrival, the victim was tied up and tortured to force him to give the password to his Bitcoin wallet.

Methods of torture included beatings, electric shocks, threats of firearms, and hanging victims from ladders. They also threatened to kill the victim and his family if he did not comply.

3. Victim Managed to Escape

The victim, an Italian crypto entrepreneur, managed to escape with injuries. CCTV footage shows Carturan barefoot, wearing black, and pleading for help to police on the street.

According to internal police documents, Carturan and Woeltz previously had a business relationship through a crypto hedge fund in New York, but there was a dispute over money. Woeltz managed to persuade Carturan to return to the US before this incident occurred.

4. Police Involvement

The case was further complicated after two New York police officers, including a member of Mayor Eric Adams’ security team, were found to be involved. One of them, Roberto Cordero, allegedly drove the victim from the airport to the location of the hostage.

Both are now under investigation and subject to temporary modification duties pending further investigation.

5. Perpetrators’ Luxury Life Background

Despite his business credentials, Duplessie is known to live the “crypto bro” lifestyle by renting Lamborghinis and spending tens of thousands of US dollars per night in Manhattan nightclubs.

However, he also faces various civil and criminal charges, including failing to pay the Lamborghini installment of around $4 , 000 per month and alleged violence against his fiancée.

6. Global Crypto Crime Trends

This case is part of a growing trend of crypto-related crimes. In France, Ledger crypto wallet co-founder David Balland was once kidnapped and lost one of his fingers. Meanwhile, Europol recently dismantled a narcotics network linked to the Sinaloa cartel that used cryptocurrency for drug trafficking.

The Duplessie and Woeltz cases show that the threat comes not only from conventional criminals, but also from within the industry itself. The perpetrators have access, connections, and knowledge that make them dangerous to their fellow crypto businesses.

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Reference:

• Aleks Gilbert / DL News. Who are alleged crypto kidnappers William Duplessie and John Woeltz?. Accessed August 13, 2025.