Turkey Seizes $7 Million and Luxury Goods in Richard Heart Arrest, Turkish Media Reports
Turkish raids net cash, crypto wallets and luxury goods
Turkish news outlet TGRT Haber reported that Hex founder Richard Heart was arrested in Istanbul during a police operation, and that $7 million was seized. The outlet also published images that it said showed Heart sitting partly naked in an armchair, which it linked to the arrest.
Heart's real name is Richard James Schueler. Protos reported that he was arrested last week in Istanbul in an operation coordinated by Turkey's security agency (MİT), Istanbul's Chief Public Prosecutor's Office, the Financial Crimes Division, and Interpol.
Key numbers from the reported operation
- $7 million seized, according to TGRT Haber.
- Raids took place at 15 locations across Beşiktaş, a district of Istanbul.
- Items seized included six physical crypto wallets — devices used to store cryptocurrency — 300 designer bags, 100 pieces of jewellery, four rifles, three pistols, and 1,400 rounds of ammunition.
What Turkish officials have said
Turkey's Minister of Justice, Akın Gürlek, said on Saturday that "Turkey will not be a refuge for transnational crimes and fugitive suspects!" He added that Heart's judicial proceedings are still ongoing.
Others reported arrested in the case
According to Protos, Heart's alleged wife, Alina Kara, and three bodyguards were also arrested. The description of Kara as his wife comes from a report and has not been confirmed by an official source in the supplied material.
Interpol notice and earlier accusations
An Interpol Red Notice on behalf of Finland was posted against Heart in December 2024. It relates to alleged aggravated tax fraud involving hundreds of millions of euros in unpaid tax. The protos.com report states that in 2023 the SEC accused Heart of selling over $1 billion in unregistered securities and misappropriating millions of dollars from his Hex, PulseChain, and PulseX crypto projects. The report says the SEC dropped its case in 2025 after failing to establish legal jurisdiction.
The SEC case was referred to in Gürlek's post.
What is confirmed
Reports state that Heart was arrested in Istanbul and that raids took place at 15 locations in Beşiktaş. Turkish media report that $7 million was seized along with listed items including crypto wallets, luxury goods, and weapons. Turkey's Minister of Justice confirmed that judicial proceedings are ongoing. An Interpol Red Notice on behalf of Finland was posted in December 2024.
What is still unclear
The exact time the published image of Heart was taken is not known. The report states it appears to have been taken during a police raid, based on his expression and police accounts, but this is a description rather than a confirmed timestamp. Details of the case against Heart, including what charges he may currently face in Turkey, are not set out in the supplied material.
Why the case matters
The arrest involves a well-known figure in the crypto industry and comes after years of cross-border legal action involving Finland and the United States. The operation was carried out with input from multiple Turkish authorities and Interpol, according to the report.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.