HEX Founder Richard Heart Detained in Istanbul on Interpol Notice
Richard Heart, founder of HEX and PulseChain, was detained in Istanbul on Tuesday following an Interpol Red Notice requested by Finland, according to Turkish media reports. The notice cites aggravated tax fraud allegations; Heart's separate SEC case was dismissed in 2025.
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Detention and Warrant Details
Turkish police detained Richard Heart in a Beşiktaş district operation linked to an Interpol Red Notice, according to reports from İhlas News Agency and local media. Interpol's public record identifies Finland as the requesting jurisdiction and lists aggravated tax fraud as the underlying charge. Turkish authorities also reportedly seized electronic devices during the operation, though the specific devices and their intended use in the investigation remain unclear.
Background on Heart and Prior Legal Action
Heart founded HEX, a self-described "certificate of deposit" token that launched in 2019, and later created PulseChain, a Layer 1 blockchain. The SEC brought a civil enforcement action against Heart in prior years, but that case was dismissed in 2025. The current detention stems from a separate, Finnish-initiated investigation into tax matters rather than securities law violations in the United States.
Why It Matters
For Traders
HEX liquidity and price action may see volatility if Heart remains in custody or if asset seizure becomes likely, though most HEX holders are in locked stakes insulated from immediate trading.
For Investors
The detention signals that international tax authorities are actively pursuing crypto founders across borders; HEX's founder status may now create additional regulatory and reputational risk for token holders.
For Builders
Cross-border law enforcement coordination via Interpol on tax matters sets precedent for other chain founders; jurisdictional uncertainty around founder location increases operational risk for protocol teams.
This article is for information only and is not financial advice. Read the full disclaimer.
