Yes, it’s possible. The Russians have torpedoes on the world arms market that can go 200+ knots, verifiably. We have no counterpart and no countermeasure (the program was a failure and the installations are now being removed from our carriers).
*However.* It is highly unlikely that the K-329 itself can go 70kts. It can only make about 32 knots on the surface claimed. It does not show signs of having the features or power reserves needed to drive it that fast. I’m going to say that the 70kts figure is a typo or someone got it confused with the things it deploys, like drones, missiles, torpedoes, parasite craft) which can easily go that fast.
Further, speed isn’t everything in a sub. To a certain degree, speed is noise, noise gets you killed in a combat zone. Modern subs *can* go speeds undreamed of in WW2 subs while being quieter than them, but not a silent 70kts (yet.) Those 200+ knot supercavitating torpedoes they have are *extremely* loud for a subsurface weapon and are actually rocket propelled.
I would not consider them traditional torpedoes. I recall reading earlier that they were more stealthy underwater autonomous drones. Nuclear powered and nuclear armed. That they would be a loitering munition, parking & hiding themselves off of critical naval ports like Norfolk. Or chokepoints.
I would hope that we have the sensor technology to detect such things and have appropriate countermeasures.