HEX and PulseChain Founder Richard Heart Reportedly…
By Karthik Subramanian
AI summary of the source article
HEX and PulseChain founder Richard Heart was reportedly detained in Istanbul under an Interpol Red Notice requested by Finnish authorities investigating aggravated tax fraud. Following the reports, cryptocurrencies associated with Heart saw substantial price drops.
Why it matters
The selloff underscores the reputational and market risks associated with cryptocurrency ecosystems closely identified with individual founders.
Key facts
- Richard Heart was reportedly detained in Istanbul in connection with an Interpol Red Notice requested by Finland over suspected aggravated tax fraud.
- A previous US SEC enforcement action against Heart was dismissed in February 2025 due to insufficient jurisdictional connections.
- Following detention reports, HEX fell approximately 25% and PulseChain's PLS dropped around 35%.
Source excerpt · FinanceFeeds
Richard Heart, the founder of cryptocurrency projects HEX, PulseChain and PulseX, was reportedly detained in Istanbul on October 14, 2026, during an operation involving Turkish police and the country's National Intelligence Organization. Heart, whose legal name is Richard James Schueler, was detained at a residence in Istanbul's Beşiktaş district, according to Turkish news agency İhlas Haber Ajans…