Richard Heart, Founder of HEX and PulseChain, Held in Istanbul; Millions and Firearms Reported

Richard Heart, the founder of HEX, was detained in Istanbul on Wednesday by Turkish intelligence officers and police, according to local media. An Interpol Red Notice — a global alert seeking someone's arrest pending extradition — has listed him as wanted since December 2024.

Authorities in Turkey and Finland have not publicly confirmed the arrest. The press accounts also differ on what was found in his residence.

What Did Authorities Reportedly Seize at Richard Heart's Home?

Richard James Schueler, known as Heart, built HEX and PulseChain, two tokens he pushed heavily online.

Daily Sabah reported that Turkey's National Intelligence Organization (MIT) and Istanbul police tracked him to a home in Beşiktaş. Police also took his wife into custody.

Drawing on Ihlas News Agency, the newspaper said the items seized included phones, laptops, graphics cards, rifles, pistols, two drones, gold bracelets and cash in several currencies.

TURKISH INTERPOL ARRESTS RICHARD HEART, FOUNDER OF HEX AND PULSECHAIN: SÖZCÜ

— Aggr News (@AggrNews) October 14, 2026

The reported amounts vary widely depending on the outlet. Sabah's report put the haul at 53 Rolex and 11 Patek Philippe watches, plus about $4 million in vacuum-sealed cash.

Euronews Türkçe, by contrast, listed 24 watches, $600,000, €2,600, 50,000 Turkish lira and 1,360 rounds of ammunition.

Why Is Finland Seeking His Extradition?

Finnish police suspect Heart dodged several hundred million euros in taxes between June 2020 and April 2024, broadcaster Yle reported. In September 2024, he was ordered into custody in absentia.

On Europe's most-wanted list, he is additionally accused of punching a 16-year-old in the face and head. Both claims remain allegations, and no conviction has been entered.

A separate SEC case from 2023 alleged that he brought in over $1 billion through unregistered token sales.

A US judge dismissed that case in 2025, however, ruling that his marketing had not been specifically aimed at Americans. That gave Heart a victory in his SEC fight.

Finland's investigation is criminal rather than civil. Interpol listed Heart as wanted at Finland's request.

Meanwhile, BeInCrypto data shows PulseChain (PLS) down 44% in the past 24 hours, while HEX (HEX) gained 3.9%.

Whether Heart must answer the Finnish allegations in person now turns on extradition. Sabah reported a transfer is being weighed, though no formal request has yet been disclosed.