[REVISION HISTORY]

Detention of Richard Heart in Istanbul

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2026-10-17 16:57 UTC → 2026-10-20 20:47 UTC · added ~~removed~~

Richard James Schueler, also known as Richard Heart, the founder of cryptocurrency projects HEX and PulseChain, was detained in Istanbul, Turkey, on October 14, 2026. The arrest was conducted through a joint operation involving the Turkish National Intelligence Organization (MİT), Istanbul Police intelligence and financial crime units, and the Istanbul Chief Public Prosecutor's Office, following an Interpol Red Notice requested by Finnish authorities. Schueler faces allegations of aggravated tax fraud and assault in Finland, as well as claims of a $1 billion cryptocurrency fraud involving operations in the United States and Finland. He also faces legal action from the U.S. Securities and Exchange Commission (SEC) regarding the sale of unregistered financial products. During raids across 15 addresses in the Beşiktaş, Üsküdar, and Sarıyer districts, authorities seized significant assets. Confiscated items included $7,150,000 USD in cash, 160,000 TL, and six crypto cold wallets. Luxury goods seized included 300 designer bags, 100 pairs of shoes, 136 sunglasses, 28 watches, and 97 pieces of jewelry. Digital evidence recovered includes 29 mobile phones, 12 laptops, 11 computer towers, 19 SSDs/external drives, 46 USB sticks, and 19 graphics cards. Law enforcement also recovered weaponry consisting of four long-barreled rifles, three unlicensed pistols, and 1,400 rounds of ammunition. In addition to Schueler, authorities detained his wife and three individuals identified as his bodyguards. Justice Minister Akın Gürlek stated that Turkey will not serve as a “sanctuary for international criminals.” Following the news of the detention, the market value of Heart’s associated tokens, HEX and PulseChain (PLS), experienced sharp declines ranging between 25% and 50%.

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