Turkey confirms that Hex founder Richard Heart has been arrested, with $7.15 million and six cold wallets seized

Turkish Minister of Justice Akın Gürlek confirmed on Saturday that Ethereum ecosystem token Hex and PulseChain founder Richard Heart were detained in Istanbul. Gürlek stated on the X platform that Heart, whose real name is Richard James Schueler, was detained along with his wife during an operation in the Beşiktaş district of Istanbul on Wednesday, and the police subsequently detained three individuals confirmed to be his bodyguards. The operation was carried out by the Istanbul Chief Prosecutor's Office in conjunction with the city's police intelligence and financial crimes department, with support from Turkey's intelligence agency MİT.

Gürlek indicated that the police conducted searches at 15 addresses in the Beşiktaş, Üsküdar, and Sarıyer districts, seizing $7.15 million in cash, six cold wallets, 160,000 Turkish lira, 28 watches, 97 pieces of jewelry, 300 bags, and 19 graphics cards, while also confiscating four long-barreled rifles, three unlicensed handguns, and 1,400 rounds of ammunition. Gürlek stated that judicial procedures and the examination of seized items are still ongoing. Turkey's state news agency Anadolu reported separately that the police seized nine vehicles registered under Heart's wife's name. According to CoinGecko data, Hex has dropped about 14% in the past 24 hours.

Gürlek linked Heart's red notice to the $1 billion cryptocurrency fraud charges involving the United States and Finland. The notice was issued in December 2024 at the request of Finnish authorities, who sought his arrest on charges of serious tax evasion and assault. In the United States, a federal judge dismissed the Securities and Exchange Commission's lawsuit against Heart in February 2025 on jurisdictional grounds, and the agency decided not to refile the lawsuit in April of that year.