HEX founder Richard Heart caught in Istanbul; Türkiye says $7.15 million seized

Türkiye’s justice minister said U.S. citizen Richard James Schueler, known as HEX founder Richard Heart and wanted on an Interpol red notice, was caught in Istanbul. Police seized $7.15 million in cash, six cold wallets, luxury goods and firearms in searches at 15 addresses.

U.S. citizen Richard James Schueler, better known in the crypto world as Richard Heart, the founder of HEX, was caught in Istanbul on an Interpol red notice, Turkish Justice Minister Akın Gürlek announced. Schueler is accused of a $1 billion crypto-asset fraud in the United States and Finland.

Schueler and his wife were detained on Oct. 14 in an operation in Istanbul’s Beşiktaş district, and three people described as his bodyguards were later detained. The red notice was reportedly issued in December 2024 at Finland’s request.

A still from the operation in Istanbul

Cash, cold wallets and firearms

Searches at 15 addresses in Beşiktaş, Üsküdar and Sarıyer turned up $7.15 million and 160,000 Turkish liras in cash, six cold wallets, 300 bags, 100 pairs of shoes, 136 pairs of glasses, 28 watches, 97 pieces of jewelry, dozens of phones, computers and storage devices, four long-barreled rifles, three unlicensed pistols and 1,400 rounds of ammunition, according to Gürlek.

Gürlek said Türkiye “will not be a haven for cross-border crimes and wanted suspects” and that legal proceedings are continuing. A red notice is not an arrest warrant, and it was not immediately clear whether a formal extradition request had been filed.