HEX founder Richard Heart was detained in Istanbul on a Finnish Interpol notice tied to alleged tax fraud.
Turkish police and intelligence officers detained HEX and PulseChain founder Richard Heart in Istanbul on Wednesday, Turkish media reported. The arrest stems from Finland’s long-running tax case against him, not the SEC fight he won last year.
What’s the Scoop?
The raid: Officers watched Heart’s residence in the Beşiktaş district before detaining him and his wife. Local outlets report that cash, dozens of luxury watches, and firearms were seized, though the tallies differ between reports.
Finland’s case: Interpol issued a Red Notice for Heart at Finland’s request in December 2024. The notice concerns alleged aggravated tax fraud worth hundreds of millions of euros. Heart hasn’t been convicted, and no extradition request has been confirmed yet.
The SEC saga: In 2023, the SEC sued Heart, alleging more than $1B in unregistered offerings. The suit was tossed in 2025 for lack of jurisdiction, with a court ruling that Washington couldn’t reach him. Finland’s tax authorities don’t have that problem.
William M. Peaster
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William M. Peaster, Senior Writer, has been with Bankless since January 2021. Immersed in Ethereum since 2017, he covers the onchain frontier with a particular interest in art, games, and other culture apps. He has a background in creative writing and writes fiction in his free time.