Richard Heart (real name Richard James Schueler), founder of Hex cryptocurrency, was arrested in Istanbul on Wednesday morning by Turkish police and the National Intelligence Organization (MIT) due to an Interpol Red Notice, Daily Sabah reported, citing Turkish news agency IHA. Police seized cash, mobile phones, laptops, graphics cards, rifles, pistols, drones, and gold bracelets at his address in the Beşiktaş district.

Interpol issued the Red Notice against Heart in 2024 at Finland's request, accusing him of aggravated tax fraud. Daily Sabah also stated that the notice was related to high-value cryptocurrency fraud. The U.S. Securities and Exchange Commission (SEC) had previously accused Heart and three entities he controlled (Hex, PulseChain, and PulseX) in 2023 of conducting unregistered crypto asset securities offerings, raising over $1 billion, and misappropriating at least $12 million of investor funds for luxury goods. However, a federal judge dismissed the SEC's lawsuit in February 2025 due to lack of jurisdiction, and the SEC failed to amend its complaint by the April deadline, leading to the case's closure.