Huo Xing Finance reports that Turkish Minister of Justice Akın Gürlek confirmed on Saturday that Ethereum ecosystem token Hex and PulseChain founder Richard Heart were detained in Istanbul. Gürlek posted on X that Heart, whose real name is Richard James Schueler, was detained on Wednesday in Beşiktaş, Istanbul, along with his wife, during a coordinated operation; police subsequently detained three individuals confirmed to be his bodyguards. The operation was carried out by the Istanbul Chief Public Prosecutor’s Office in collaboration with the city’s police intelligence and financial crimes unit, with support from Turkey’s intelligence agency, MİT. Gürlek stated that searches were conducted at 15 addresses across the districts of Beşiktaş, Üsküdar, and Sarıyer, yielding $7.15 million in cash, six cold wallets, 160,000 Turkish lira, 28 watches, 97 pieces of jewelry, 300 bags, and 19 graphics cards. Authorities also seized four long-barreled rifles, three unlicensed handguns, and 1,400 rounds of ammunition. Gürlek added that legal proceedings and the review of seized assets are ongoing. Turkey’s state news agency Anadolu separately reported that police seized nine vehicles registered in Heart’s wife’s name. According to CoinGecko data, Hex declined approximately 14% over the past 24 hours. Gürlek linked Heart’s Red Notice to $1 billion in cryptocurrency fraud allegations in the United States and Finland. The Red Notice was issued in December 2024 at Finland’s request, where authorities sought his arrest over suspected serious tax evasion and assault. In the United States, a federal judge dismissed the Securities and Exchange Commission’s case against Heart in February 2025 on jurisdictional grounds; the SEC decided in April of that year not to refile the charges.
Turkey Confirms Arrest of Hex Founder Richard Heart, Seizes $7.15 Million and Six Cold Wallets
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Summary
Turkey confirmed the arrest of crypto entrepreneur Richard Heart, founder of Hex and PulseChain, in Istanbul as part of a CFT investigation. Turkish Justice Minister Akın Gürlek stated that the operation seized $7.15 million in cash, six cold wallets, and luxury assets. The action is linked to a $10 billion fraud case involving liquidity and crypto markets in the U.S. and Finland. Heart, arrested alongside his wife and bodyguards, faces charges including tax evasion. A U.S. court dismissed an SEC lawsuit against him in February 2025 due to jurisdictional issues.
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