Attempted abductions of ‘crypto tycoons’ are becoming more frequent and insurance companies are cashing in.
Michael Valentino Teofrasto Carturan was renting a luxury New York townhouse for $40,000 a month, enjoying the fruits of his highly lucrative investments in cryptocurrency. But in May, his 17-room Manhattan home became a torture chamber in which he was held by kidnappers for 17 days.
Carturan’s captors, John Woeltz and William Duplessie, who wanted access to his cryptocurrency accounts, used brutal methods in their bid to prise open Carturan’s Bitcoin wallet, purportedly containing some $28m worth of cryptocurrency. Among other torture methods, they hung him from the building’s roof, shocked him with electrical wires and threatened him with a chainsaw.
When all else failed, they forced him to smoke crack cocaine. Ultimately, they were unsuccessful. After more than two gruelling weeks, Carturan managed to escape the townhouse and Woeltz and Duplessie were subsequently arrested and charged with kidnapping and assault.
Carturan’s ordeal was one of the latest in a spate of “wrench attacks”, which include so-called “crypto kidnappings”, combining high-tech cybertheft with old-fashioned thuggery and have been taking place in several countries around the world.
