A Crypto Heist Gone Wrong: The Bitcoin Torture Case Unfolds

In a bizarre turn of events, one of the suspects in a high-profile Bitcoin torture case has been released from jail. John Woeltz, a 37-year-old cryptocurrency investor from Kentucky, walked out of Rikers Island after posting a $1 million bond. This happened two months after his arrest for allegedly kidnapping and torturing an Italian crypto trader, Michael Valentino Teofrasto Carturan. The defense team has a unique take on the situation. They argue that the alleged torture was more like a "fraternity-like hazing" ritual. According to Woeltz's attorney, Carturan was there as a "pledge" and was being hazed. This defense has raised eyebrows, to say the least. The victim, a 28-year-old crypto trader, was reportedly held captive for three weeks in a New York City townhouse. The suspects allegedly took his electronic devices and passport, making it impossible for him to access his Bitcoin. The prosecutors claim that the suspects wanted Carturan's Bitcoin password to steal his cryptocurrency, which was reportedly worth $100 million. The torture methods described in the criminal complaint are chilling. The suspects allegedly used electric wires to shock the victim, hit him on the head with a firearm, and even threatened to kill him. They also allegedly humiliated him by making people urinate on him and forcing him to take drugs. The suspects even threatened the victim's family in Italy. As a condition of his bail, Woeltz will be under home confinement and electronic monitoring. He can only leave his home for specific reasons, like doctor's appointments or meetings with his lawyers. The bond was a combination of cash and property put up by Woeltz's father. The other suspect, William Duplessie, a 33-year-old Miami resident, was not released. Both men have pleaded not guilty and are scheduled to appear in court on October 15. This case raises many questions about the dark side of the cryptocurrency world. It's a stark reminder that the pursuit of wealth can sometimes lead to extreme and dangerous actions.