Hex founder Richard Heart arrested in Istanbul, Turkish media report
Reported by CoinDesk · AI-assisted summary by ChikoCorp AI News Desk
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Summary
Richard Heart, founder of the crypto projects Hex, PulseChain, and PulseX, was arrested in Istanbul alongside his wife in a joint operation by Turkish police and intelligence officers, according to Turkish media. He faces allegations of tax fraud and assault in Finland and was subject to an Interpol Red Notice. Authorities reportedly seized $4 million in cash, 64 luxury watches, firearms, and electronic equipment.
Why it matters
The source does not explicitly explain why this development matters for markets, users, policy, or the industry.
Key context
Heart has faced extensive legal trouble over several years, including SEC charges in 2023 related to unregistered securities offerings and alleged misappropriation of investor funds. The U.S. SEC case was dismissed in 2025 due to jurisdictional issues. He is currently wanted in Finland for tax fraud and assault, which led to the Interpol Red Notice and subsequent arrest in Turkey.
Key numbers and entities
Richard Heart (legal name Richard James Schueler), Hex, PulseChain, PulseX, U.S. Securities and Exchange Commission (SEC), Interpol. Authorities reportedly seized $4 million in cash and 64 luxury watches during the arrest.
What remains unclear
Whether Turkish police have officially confirmed the figures on seized assets and any further legal proceedings or charges in Turkey have not been detailed in the source.