New York City’s Mayor Eric Adams recently hosted the “first ever N.Y.C. Crypto Summit,” declaring his ambition to make the city the “crypto capital of the globe.” However, a gruesome crime unfolding just a mile from City Hall revealed that New York was already a hub for crypto-related violence. Over 17 days, two men held Italian millionaire Michael Valentino Teofrasto Carturan captive, subjecting him to brutal torture – including chicken wire, Taser shocks, and a chainsaw threat – to extract his Bitcoin wallet password.
The suspects, William Duplessie and John Woeltz, were eventually arrested and charged with kidnapping and assault after Carturan escaped and sought help from a traffic officer. The victim claimed he was held over a building ledge and threatened with harm to his family. This violent incident, occurring near Little Italy, starkly contrasts with the perceived sophistication of cryptocurrency markets, revealing a darker side to the digital finance world.
This case is not isolated. France has seen a series of kidnappings targeting crypto magnates’ families, with 24 people arrested in Paris for abducting a crypto investor’s daughter. In another case, a victim’s finger was severed to intimidate their family into paying ransom. These incidents highlight how the seemingly impenetrable virtual walls of cryptocurrency can be breached through traditional criminal methods.
The juxtaposition of Mayor Adams’ crypto ambitions with these violent crimes underscores the complex reality of the cryptocurrency world. While digital finance continues to evolve, it remains vulnerable to raw, old-fashioned criminality. As the industry grows, it must confront these challenges to establish a safer environment for its participants.
