He is a significant figure in the history of Klein-Venedig (1528 - 1546), the concession of Venezuela Province to the Welser banking family by Charles V, Holy Roman Emperor and King of Spain.
Hutten joined a band of 600 adventurers, under Georg von Speyer, who sailed out to conquer and exploit the province in the family's interest.
The party landed at Coro in February 1535 and Hutten accompanied von Speyer on his long and difficult expedition into the interior in search of treasure (El Dorado).
He initially followed the path of Speyer, but crossed the Rio Bermejo, and went on with a small group of around 40 men on horseback into the Llanos.
In their journey to the coast, the adventurers took no precautions against attack, and were easily captured by Carvajal in April 1546, who, after keeping Hutten and Welser in chains for a time, had them beheaded.