HEX Founder Richard Heart Reportedly Arrested in Istanbul Dawn Police Raid

Key Takeaways

• Turkish media reported Richard Heart’s detention in Istanbul on Oct. 14 following an intelligence operation.
• Sözcü reported that investigators seized $4 million in cash, 64 luxury watches, firearms and electronics.
• Heart’s SEC case was dismissed in 2025, but his separate Finnish criminal investigation remains relevant.

Richard Heart’s Reported Istanbul Arrest Uncovers a Fortune in Watches, Cash and Weapons

A dawn raid in Istanbul has reportedly landed one of cryptocurrency’s most flamboyant personalities in police custody, along with a collection of luxury watches, firearms and enough electronics to fill a small computer shop. Richard Heart, the controversial founder of HEX, Pulsechain, and Pulsex, was reportedly detained on Wednesday, Oct. 14, after Turkish intelligence officers tracked him to a residence in the upscale Beşiktaş district. Turkish news outlets say the operation followed an international manhunt tied to allegations originating in Finland, where Heart has faced criminal investigations involving taxes and assault.

Turkish Intelligence Tracks Down Fugitive

Turkish publications Sözcü, Karar and Takvim reported that Turkey’s National Intelligence Organization (MİT) worked alongside Istanbul police to locate Schueler, 47, who is also known locally as “Balina James.” Authorities reportedly detained Heart and a woman identified as his wife, A.K., during an operation coordinated with the Istanbul Chief Public Prosecutor’s Office. Financial crimes investigators, Interpol personnel and special operations officers reportedly participated.