Turkish intelligence officers and police detained HEX founder Richard Heart in Istanbul on Wednesday, local media reported. He has been wanted under an Interpol Red Notice, a global request to arrest someone pending extradition, since December 2024.
Neither Turkish nor Finnish authorities have publicly confirmed the arrest. Reports also disagree on what officers found inside his home.
What Did Police Reportedly Find in Richard Heart’s Home?
Heart, whose legal name is Richard James Schueler, created HEX and PulseChain, crypto tokens he promoted heavily online.
Turkey’s National Intelligence Organization (MIT) and Istanbul police tracked him to a home in the Beşiktaş district, Daily Sabah reported. His wife was also taken into custody.
Citing Ihlas News Agency, the outlet listed phones, laptops, graphics cards, rifles, pistols, two drones, gold bracelets, and cash in several currencies among the seized items.
The amounts vary sharply by outlet. Sabah reported 53 Rolex and 11 Patek Philippe watches, plus about $4 million in vacuum-sealed cash.
In contrast, Euronews Türkçe counted 24 watches, $600,000, €2,600, 50,000 Turkish lira, and 1,360 rounds of ammunition.
Why Does Finland Want Him Back?
Finnish police suspect Heart of evading several hundred million euros in taxes between June 2020 and April 2024, broadcaster Yle reported. He was remanded in absentia in September 2024.
Europe’s most-wanted list also accuses him of punching a 16-year-old in the face and head. Both remain allegations, and he has not been convicted.
In 2023, the SEC separately accused him of raising over $1 billion through unregistered token sales.
However, a US judge threw out that case in 2025, ruling his marketing did not specifically target Americans. It was an SEC lawsuit win for Heart.
The Finnish probe is criminal, not civil. Interpol flagged Heart as wanted at Finland’s request.
Meanwhile, PulseChain (PLS) fell 44% over the past 24 hours, while HEX (HEX) rose 3.9%, BeInCrypto data shows.
Whether Heart faces those Finnish allegations in person now depends on extradition. Sabah reported a transfer is under consideration, though no formal request has been made public.
Source: BeInCrypto