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Turkey Detains Hex Founder Richard Heart and Seizes $7.15 Million in Cash

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Turkish law enforcement authorities detained Richard Heart, the founder of cryptocurrency projects Hex and PulseChain, during an operation in Istanbul. Officials confirmed that law enforcement seized $7.15 million in cash, six cold crypto wallets, firearms, ammunition, luxury items, and impounded nine vehicles registered to his wife. Heart, whose legal name is Richard James Schueler, was taken into custody alongside his wife and three bodyguards.

The detention follows an Interpol Red Notice issued in late 2024 on behalf of Finnish authorities regarding allegations of tax evasion and assault, alongside broader allegations of crypto fraud totaling $1 billion across Finland and the United States. Following news of the arrest, the Hex token dropped approximately 14% over a 24-hour period.

Judicial proceedings and the evaluation of seized evidence remain ongoing in Turkey. Investors and market participants will be watching whether extradition requests are submitted, as well as any further developments regarding legal claims against the project founder.

Key points

  • Hex and PulseChain founder Richard Heart was detained by police in Istanbul, Turkey.
  • Authorities seized $7.15 million in cash, six cold wallets, vehicles, firearms, and luxury goods.
  • The arrest stems from an Interpol Red Notice issued over tax evasion and assault allegations in Finland.
  • The Hex cryptocurrency price declined by roughly 14% following news of the detention.

Written by our AI from expert market sources across the web. It can contain mistakes: check the facts before acting on them. Write-ups powered by the free AI API at FreeTheAI.org

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Questions and answers

Why was Hex founder Richard Heart arrested?

Richard Heart was detained in Istanbul under an Interpol Red Notice linked to allegations of gross tax evasion and assault in Finland, as well as broader allegations of crypto fraud.

What did police seize during Richard Heart's arrest?

Police seized $7.15 million in cash, six cold cryptocurrency wallets, firearms, ammunition, 28 watches, 97 pieces of jewelry, 300 bags, 19 graphics cards, and impounded nine vehicles.

How did the Hex token react to Richard Heart's detention?

The Ethereum-based Hex token fell approximately 14% over a 24-hour period following news of the arrest.