In Istanbul, Interpol detained the creator of the token HEX
During the search, Hart was seized cash, expensive watches, jewelry, weapons and equipment for operations with cryptocurrency. Security forces are studying crypto wallets and encrypted drives in search of the remaining funds worth about $ 1.5 billion
In Istanbul detained the American creator of crypto projects HEX and PulseX Richard James Schuler, known as Richard Hart, who was internationally wanted by Interpol. It is reported by Forbes Türkiye.
According to the publication, the operation was carried out by Turkish intelligence and police units to combat financial crimes of the Istanbul police. After several months of observation, security forces found Schuler in a guarded residential complex in the Besiktas district. His wife was arrested with him.
The layout of Hart's house, "turned into an arsenal in case of assault," was changed: special caches were equipped behind the walls. During the search, security forces seized cash in various currencies, 53 custom-made Rolex watches, 11 elite Patek Philippe watches, 24 other expensive copies previously registered, as well as jewelry.
In addition, four rifles, three pistols, seven shops, 1,360 rounds of ammunition and a dagger were found in the house. There was also a base for operations with cryptocurrency with mining equipment and cooling systems. Security forces seized computers, phones, video cards, drives and drones. Cyber police are studying hardware crypto wallets and encrypted drives, trying to locate the remaining funds worth about $1.5 billion.
Hart is being questioned after his arrest, and Turkish authorities are also sharing information with US and Interpol officials.
Richard Hart is known as the creator of HEX and PulseX. In 2019, he launched HEX, promising investors an annual return of 38% for blocking the cryptocurrency. Later, through PulseX, despite analysts' warnings that it was a pyramid scheme, the project raised more than $1 billion, Forbes Türkiye notes.
In July 2023, the SEC filed a lawsuit against Schuler, accusing him of selling unregistered securities and using at least $12.1 million in investor funds for personal expenses, including the purchase of luxury goods. Among them was a 555.55-carat black diamond called The Enigma, purchased at Sotheby’s auction in 2022 for about $4.3 million.
In 2006, the diamond was included in the Guinness Book of Records as one of the largest faceted diamonds. Prior to being sold to Hart through Sothbey's auction, the diamond had been in private collection for more than 20 years.
In February 2025, a U.S. court dismissed the SEC's claim for lack of jurisdiction. This decision was not a verdict on the merits of the charges. A separate investigation against Schuler was conducted by Finland: he was suspected of tax evasion on an especially large scale and assault. In December 2024, writes Forbes Türkiye, Interpol issued a red notice against the entrepreneur.
The Interpol Red Notice is a request to law enforcement agencies of different countries for the search and temporary detention of a person for subsequent extradition or other legal procedure.
It is issued on the basis of a national arrest warrant or a court order. Each country decides on the issue of detention under its own law.
