Hex Founder Richard Heart Reportedly Detained in Istanbul on Interpol Red Notice

  • Turkish media reported that authorities detained Richard Heart in Istanbul's Beşiktaş district.
  • Reports placed seized cash between $600,000 and $4 million, with no official inventory.
  • Finland's investigation concerns suspected aggravated tax fraud and assault from 2020 through 2024.

Richard James Schueler, known as Richard Heart and founder of HEX, PulseChain and PulseX, was reportedly detained during an October 14 operation in Istanbul's Beşiktaş district linked to a Finnish investigation and an Interpol Red Notice. Turkish media said police and Turkey's intelligence agency participated, but Turkish prosecutors, Finnish police, Interpol, Heart and his legal team had not publicly confirmed the detention, continued custody or any extradition. Accounts of seized cash and watches varied from $600,000 and 24 watches to $4 million and 64 watches, with no official inventory available. Finland's case concerns suspected aggravated tax fraud and assault, with authorities examining tax conduct alleged to have occurred from at least June 2020 through April 2024. The allegations remain unresolved and are separate from the U.S. Securities and Exchange Commission's civil case over crypto offerings, which a federal court dismissed in 2025 on jurisdictional grounds.

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