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Hex founder Richard Heart arrested in Istanbul on Finnish Interpol Red Notice
Authorities say the detention followed a Finnish-requested Red Notice tied to tax fraud and assault allegations, and police seized cash, watches and firearms.
- On Wednesday, Turkish police and the National Intelligence Organization detained Richard James Schueler, also known as Richard Heart, at a residence in Istanbul following an Interpol Red Notice issued by Finnish authorities.
- Finnish authorities sought Schueler over alleged aggravated tax fraud and assault dating back to 2021. The Interpol "Red Notice," first reported in December 2024, requested his location and provisional arrest pending potential extradition.
- Local media reported authorities seized $4 million in cash and 64 luxury watches, though police have not confirmed these figures. Cryptocurrency tokens associated with Heart, including HEX, declined approximately 25% during the trading session.
- Schueler previously faced U.S. Securities and Exchange Commission charges regarding unregistered offerings, but a federal judge dismissed the lawsuit in 2025. The court ruled the SEC failed to establish that his activities specifically targeted investors in the United States.
- As of Thursday, Turkish officials had not publicly confirmed formal charges or an extradition timeline. While reports describe police custody, no official inventory of seized property or court-ordered arrest documents were independently verified.
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Richard Heart Caught ‘Off-Guard,’ QDay Gets Even Closer: Hodler’s Digest
HEX erases $246 million in market cap after founder detained in Turkey The HEX market cap fell from $561 million to $315 million this week after founder Richard Schueler — better known to the crypto community as Richard Heart — was detained by authorities in Istanbul on October 14. Police seized $7.15 million in cash […]
Richard James Schueler has been wanted by Interpol at the request of Finland. The Finnish police have not yet confirmed the arrest.
·Helsinki, Finland
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Total News Sources62
Leaning Left2Leaning Right2Center5Last UpdatedBias Distribution56% Center
Bias Distribution
- 56% of the sources are Center
56% Center
L 22%
C 56%
R 22%
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