Hex Founder Richard Heart Detained in Istanbul on Interpol Red Notice: Report
Turkish police and intelligence officers reportedly seized cash, phones, jewelry and firearms at the crypto founder's address in Beşiktaş.
Richard Heart, the founder of the HEX cryptocurrency project, has been detained in Istanbul, Turkey, following an Interpol Red Notice, according to a report by Decrypt. Turkish police and intelligence officers conducted an operation at Heart's address in the Beşiktaş district, where authorities reportedly seized cash, mobile phones, jewelry, and firearms during the raid.
Heart, whose legal name is Richard Schueler, has faced significant legal scrutiny in recent years. The U.S. Securities and Exchange Commission filed charges against him in 2023, alleging he raised over $1 billion through unregistered securities offerings tied to HEX, PulseChain, and PulseX. Heart has consistently denied the allegations and had been operating from abroad, with his whereabouts drawing periodic speculation within the crypto community.
The detention adds further uncertainty to the HEX ecosystem, which had already seen its token prices decline sharply amid the ongoing SEC case and broader concerns about the project's long-term legitimacy. High-profile legal actions against crypto founders have historically triggered volatility in associated tokens and can erode retail investor confidence across adjacent sectors.
Observers will be watching closely to see whether Turkish authorities proceed with extradition proceedings in response to the Interpol notice, and how the SEC's civil case may intersect with any potential criminal developments. The situation remains fluid, and further official statements from law enforcement agencies are expected in the coming days.
Source: Decrypt
