HEX Founder Richard Heart Arrested in Türkiye: $7.15M Cash, Guns, Cold Wallets, and Luxury Goods Seized

Turkish authorities have arrested Richard James Schueler, higher referred to as Richard Heart, in an Istanbul operation concentrating on an internationally wished crypto fugitive.

Heart was detained on Wednesday morning alongside along with his spouse, recognized as A.Ok., in line with native media reviews. An replace from the nation’s Justice Minister, Akın Gürlek, confirmed the information right this moment.

The operation concerned Türkiye’s National Intelligence Organization (MIT) and Istanbul police groups, together with the Chief Public Prosecutor’s Office.

Heart was reportedly discovered at an deal with in the Beşiktaş district after safety and intelligence items tracked his actions via technical and bodily surveillance. He was wished beneath an Interpol Red Notice issued at Finland’s request over allegations involving high-profile crypto fraud.

Authorities additionally seized over $7 million in money in a number of currencies, cellphones, laptops, graphics playing cards, SSDs, firearms, ammunition, drones, gold bracelets and necklaces throughout searches on the property. Heart’s arrest follows years of authorized hassle linked to his crypto ventures.

In 2023, the US Securities and Exchange Commission (SEC) charged him and three entities he managed, Hex, PulseChain and PulseX, over allegedly unregistered crypto asset securities choices that raised greater than $1 billion from traders. The regulator additionally accused Heart and PulseChain of fraud, alleging they misappropriated not less than $12 million in providing proceeds to purchase luxurious gadgets.

The SEC had beforehand listed sports activities vehicles, costly watches, and a 555-carat black diamond referred to as The Enigma among the many purchases. The diamond was reportedly one of many largest black diamonds in the world. The case was, nonetheless, ended in 2025 after a US federal decide dismissed the lawsuit on jurisdictional grounds. The SEC later declined to amend its criticism.

Heart was infamous for relentlessly flaunting excessive wealth on-line. Following information of his arrest, HEX sharply plunged almost 50% from $0.00090 to $0.00046 on October 14, in lower than 24 hours. The token has since recovered and is presently buying and selling close to $0.00060.

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