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Regulation & Policy · 1 min read

Turkish Police Arrest Hex Founder Richard Heart in Multi-Agency Raid

Authorities seized $7 million in assets, firearms, and hardware wallets across 15 Istanbul properties following an Interpol red notice.

Editorial oversight: Julian Mercer, Chief Editor
Bearish

At a glance Enforcement action

What happened
Turkish authorities arrested Hex founder Richard Heart in Istanbul, seizing $7 million in assets and firearms under an Interpol red notice.
Why it matters
The coordinated operation advances cross-border legal actions against the creator of Hex, PulseChain, and PulseX.
Who is affected
Richard Heart, his detained associates, and participants in the Hex, PulseChain, and PulseX ecosystems.
What's next
Ongoing Turkish judicial proceedings related to the Finnish Red Notice.
Primary source
protos.com: Richard Heart caught with his pants down during arrest, report

Key points

  • Turkish authorities arrested Hex founder Richard Heart in an Interpol-coordinated operation across 15 Istanbul locations.
  • Police seized $7 million, six hardware wallets, firearms, luxury goods, and detained Heart alongside four associates.
  • Heart faces an outstanding December 2024 Interpol Red Notice from Finland alleging aggravated tax fraud.

Turkish law enforcement arrested Hex founder Richard Heart, legally named Richard James Schueler, during a coordinated raid in Istanbul 1. The operation was conducted by Turkey's National Intelligence Organization (MİT), the Istanbul Chief Public Prosecutor's Office, the Financial Crimes Division, and Interpol 1. Turkish Justice Minister Akın Gürlek stated that judicial proceedings against Schueler remain ongoing, declaring that Turkey will not serve as a safe haven for transnational criminal suspects 1.

During simultaneous raids spanning 15 locations across the Beşiktaş district, authorities seized $7 million in cash and assets, six hardware cryptocurrency wallets, 300 designer bags, and 100 pieces of jewelry 1. Police also confiscated weapons, including four rifles, three pistols, and 1,400 rounds of ammunition 1. In addition to Schueler, law enforcement arrested his alleged wife, Alina Kara, and three personal bodyguards 1.

The apprehension follows an Interpol Red Notice issued on behalf of Finnish authorities in December 2024, which alleges aggravated tax fraud involving hundreds of millions of euros in unpaid taxes 1. Schueler previously faced regulatory action in the United States, where the Securities and Exchange Commission accused him in 2023 of offering more than $1 billion in unregistered securities and misappropriating investor funds connected to Hex, PulseChain, and PulseX 1. The SEC subsequently abandoned that enforcement action in 2025 after failing to establish legal jurisdiction 1.

Sources

  1. [1] Richard Heart caught with his pants down during arrest, report — protos.com, October 19, 2026

Written by Basis Desk's newsroom system from the primary sources above and machine-verified against them before publication. Market figures marked "at the time of writing" come from live exchange data. Report an error: corrections@basisdesk.news · corrections policy.

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