Justice Minister Akın Gürlek confirmed that Richard Heart, founder of Hex and PulseChain, was detained in Istanbul on October 14 and said searches related to the case uncovered $7.15 million in cash and six cold wallets.
According to a statement reported by The Block, Heart, whose real name is Richard James Schueler, was detained along with his wife during an operation in Beşiktaş on Wednesday. In information he shared on Saturday, Gürlek said three people identified as Heart’s bodyguards were also detained later.
The operation was carried out under the coordination of the Istanbul Chief Public Prosecutor’s Office by the police intelligence and financial crimes units, with support from the National Intelligence Organization (MİT). Examination of the seized materials and legal proceedings are ongoing.
Cash, cold wallets and firearms found at 15 locations
Searches at 15 locations in Beşiktaş, Üsküdar and Sarıyer uncovered $7.15 million and 160,000 lira in cash. In addition to six cold wallets, authorities seized 28 watches, 97 pieces of jewelry, 300 bags and 19 graphics cards.
The inventory released by Gürlek also included four long-barreled rifles, three unlicensed handguns and 1,400 rounds of ammunition. Anadolu Agency also reported that nine vehicles registered in Heart’s wife’s name were seized.
Initial local reports on Wednesday put the amount of cash at $4 million and the number of watches at 64. The minister’s latest statement gave the cash total as $7.15 million and the number of watches as 28.
The Finland search and U.S. case have different statuses
An Interpol Red Notice was issued for Heart on behalf of Finland in December 2024. Finnish authorities were seeking him on suspicion of aggravated tax evasion and assault.
In his statement, Gürlek linked the Red Notice to allegations of $1 billion in crypto fraud in the United States and Finland. Separately from this assessment, the U.S. Securities and Exchange Commission’s (SEC) lawsuit against Heart was dismissed in February 2025 on jurisdictional grounds, and the agency decided in April not to reopen the case.
The minister’s statement did not say whether Turkey had received an extradition request.
Not investment advice.