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Richard Heart
Oct 19, 2026

Richard Heart arrested in Istanbul as Turkish authorities report $7 million seizure

Hex founder Richard Heart, whose legal name is Richard James Schueler, was arrested last week in Istanbul in an operation involving Turkey’s National Intelligence Organization, the Istanbul Chief Public Prosecutor’s Office, the Financial Crimes Division, and Interpol, according to Protos and Turkish outlet TGRT Haber. Authorities said the raids covered 15 locations in Beşiktaş and led to the seizure of $7 million, six physical crypto wallets, 300 designer bags, 100 pieces of jewelry, four rifles, three pistols, and 1,400 rounds of ammunition. TGRT Haber also published a censored image showing Heart partially naked in an armchair, which Protos said appeared to have been taken during the police raid, though the exact timing was not confirmed. Heart’s alleged wife, Alina Kara, and three bodyguards were also arrested. Turkey’s Justice Minister Akın Gürlek said judicial proceedings are ongoing and stated that the country would not serve as a refuge for transnational crime suspects. The report also noted that Finland secured an Interpol Red Notice against Heart in December 2024 over alleged aggravated tax fraud, while a separate SEC case filed in 2023 was dropped in 2025 after the agency failed to establish jurisdiction.

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Richard Heart arrested in Istanbul as Turkish authorities report $7 million seizure
Richard Heart
Oct 18, 2026

Richard Heart detention, Starknet’s L1 vote and Ledger’s Atom lead Cointelegraph’s weekly roundup

Cointelegraph’s latest Hodler’s Digest pulled together a week of sharp moves across crypto, from enforcement action and hardware wallet security to quantum risk and stablecoin forecasts. HEX lost $246 million in market capitalization after founder Richard Schueler, better known as Richard Heart, was detained in Istanbul on Oct. 14. Turkish authorities said they seized $7.15 million in cash, firearms and ammunition, while Anadolu reported additional seizures including luxury vehicles, watches, bags and graphics cards. Supporters of HEX said authorities had not yet confirmed whether Schueler had been formally arrested or charged. Elsewhere, Ledger introduced Atom, an $849 device designed to harden wallets against tampering after the company confirmed malicious implants in wallets sold through an Asian reseller. Starknet also drew attention after opening a vote on whether to shift from an Ethereum layer-2 network to a post-quantum layer-1, with more than 99% of votes cast so far backing the proposal. Standard Chartered pushed its forecast for a $2 trillion stablecoin market out to 2030, while the European Banking Authority classified Circle’s USDC as a significant e-money token under MiCA. The roundup also covered Binance.US fundraising talks, weekly market winners and losers, Bitwise’s “crypto spring” call, MSCI index rule changes, Russia’s planned ban on direct P2P crypto trades, and a Wall Street Journal report on former Trump crypto adviser Bo Hines.

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Richard Heart detention, Starknet’s L1 vote and Ledger’s Atom lead Cointelegraph’s weekly roundup
HEX
Oct 15, 2026

HEX drops nearly 30% after reports founder Richard Schueler was detained in Istanbul

HEX lost nearly 30% over the past 24 hours after Turkish local media reported that founder Richard Schueler, better known as Richard Heart, had been detained in Istanbul together with his wife. CoinMarketCap data cited in the report showed the token falling to $0.0006 by 11:28 am UTC on Thursday, cutting its market capitalization by about $160 million, from more than $500 million on Wednesday to $340 million by press time. The token had previously traded above $0.44 in September 2021. The reported detention came almost two years after Interpol issued a Red Notice for Schueler over alleged tax fraud and assault, with Finnish authorities seeking his arrest. Finland’s National Bureau of Investigations declined to comment. Schueler had also appeared on Europe’s most wanted fugitives list on similar allegations. Separately, the US Securities and Exchange Commission sued him in July 2023, alleging a $1 billion unregistered securities offering and at least $12 million in misappropriated funds. That case was dismissed in February 2025, and the SEC later said in April 2025 that it did not plan to refile.

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HEX drops nearly 30% after reports founder Richard Schueler was detained in Istanbul
Richard Heart
Oct 14, 2026

Report Says Hex Founder Richard Heart Was Detained in Istanbul on Interpol Red Notice

Turkish authorities detained Hex founder Richard Heart in Istanbul on Wednesday under an Interpol Red Notice, according to Daily Sabah, which cited Turkish state news agency IHA. Heart, whose legal name is Richard James Schueler, was reportedly taken into custody along with his wife during an operation involving Istanbul police and Turkey’s National Intelligence Organization, or MIT. Police had monitored his address in the Beşiktaş district before the detention, the report said, and officers seized phones, laptops, graphics cards, firearms, drones, gold bracelets, and cash in multiple currencies. The Red Notice was issued by Interpol in 2024 at Finland’s request. It lists one charge, aggravated tax fraud, while Finnish authorities have also sought Heart over an alleged assault, according to the report. Daily Sabah described the notice as tied to high-value cryptocurrency fraud. The report added that it was not immediately clear whether Finland had formally requested extradition from Turkey. Heart launched Hex in 2018. In 2023, the U.S. Securities and Exchange Commission sued him and the entities Hex, PulseChain, and PulseX, alleging unregistered crypto asset securities offerings that raised more than $1 billion and the misuse of at least $12 million in investor funds. A federal judge dismissed that case in February 2025 for lack of jurisdiction, and the SEC did not amend the complaint by an April deadline.

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Report Says Hex Founder Richard Heart Was Detained in Istanbul on Interpol Red Notice
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