The justice minister of Turkey noted that the spouse of Heart alongside three security personnel were also taken into custody, adding that inspections recovered firearms, bullets, timepieces, and valuable ornaments.
Akın Gürlek, Turkey’s Justice Minister, verified on Saturday that Richard Heart, who created Hex and PulseChain, was captured in Istanbul, noting that law enforcement confiscated six cold storage devices alongside $7.15 million in physical currency during linked investigations.
Gürlek mentioned that Heart, legally known as Richard James Schueler, was captured alongside his spouse on Wednesday during a raid inside the Beşiktaş neighborhood of Istanbul via a statement published on X. Law enforcement subsequently apprehended three additional individuals identified as serving in the capacity of security guards for Heart.
The chief prosecutor’s office in Istanbul coordinated the mission utilizing the intelligence and financial crimes divisions of the local police, backed by MİT, the intelligence service of Turkey.
Gürlek stated that inspections conducted across 15 locations within the Sarıyer, Üsküdar, and Beşiktaş sectors additionally uncovered 160,000 Turkish lira, 28 timepieces, 97 ornaments, 300 handbags, and 19 video processing cards. Furthermore, authorities confiscated four long-barreled firearms, three unauthorized handguns, and 1,400 rounds of ammunition. Gürlek reported that the analysis of the gathered items and legal procedures remain ongoing.
Anadolu, the state news service, published a separate report stating that authorities impounded nine motor vehicles registered under the name of Heart’s spouse. Local media coverage on Wednesday had previously estimated the confiscated cash at $4 million alongside 64 luxury timepieces.
According to data provided by CoinGecko, Hex—the digital token built on Ethereum and deployed by Heart back in 2019—dropped approximately 14% throughout the preceding 24 hours.
The Red Notice Issued for Heart
Gürlek connected the Red Notice issued against Heart to accusations involving $1 billion in digital asset fraud spanning Finland and the United States. The notice had been released during December 2024 on behalf of Finnish authorities, who pursued him over allegations regarding severe tax evasion and physical attack.
Within the U.S., a federal magistrate threw out the enforcement action brought by the Securities and Exchange Commission against Heart in February 2025 citing jurisdictional limitations, and the regulatory body chose not to refile the matter that coming April. Gürlek refrained from specifying if Turkey obtained an extradition request.
The Block has reached out to David Kirk, serving as Heart’s legal representative in the SEC litigation, as well as the Helsinki Police Department to request statements.
Originally published at https://www.theblock.co/news/regulation/2026-10-17-turkey-confirms-hex-founder-richard-hearts-arrest-says-police-seized-7-15-million-and-six-cold-wallets-418852.
