Richard ‘HEX’ Heart arrested in Turkey running another crypto scam

Homepage > News > Business > Richard ‘HEX’ Heart arrested in Turkey running another crypto scam TL;DR: Turkish police and intelligence agents arrested HEX and Pulse founder Richard Heart (Richard James Schueler) and his wife in an Istanbul dawn raid on Wednesday, October 14. They suspect he ran a new international crypto fraud network from the city. Heart already faced an Interpol red notice for tax fraud in Finland; meanwhile, a U.S. judge dismissed the SEC’s fraud case against him in February 2025. Key Takeaways: Richard Heart, founder of the HEX and Pulse tokens, was arrested in Istanbul on October 14 in a raid by city police and Turkey’s National Intelligence Organization. Turkish authorities allege Heart built an Istanbul-based international fraud network with victims in the U.S., Finland and Spain. Police traced Heart through suspicious digital wallet activity involving millions of dollars in tokens linked to an Istanbul IP address. Authorities seized phones, laptops, firearms, drones, gold jewelry, luxury watches, and cash, with reports of the cash total ranging from $600,000 to $4 million. Heart was already the subject of an Interpol red notice for aggravated tax f...