On December 23, 2024, Interpol issued a Red Notice for the Hex and PulseChain founder on behalf of Finland, where authorities allege he evaded hundreds of millions of euros in taxes and assaulted a 16-year-old in a violent altercation. The Red Notice signals to Interpol’s member countries that Schueler is subject to a valid arrest warrant.
Today, Turkish authorities have arrested Richard James Schueler, better known as Richard Heart, during an early morning raid at his home in Istanbul’s Beşiktaş district.
The operation took place on October 14, 2026, and involved the Istanbul Police Department’s Intelligence and Anti-Financial Crimes branches, alongside Turkey’s National Intelligence Organization (MIT). The arrest followed several years of international efforts to locate Heart.
Türkiye detains foreign national wanted by Interpol in Istanbul over alleged cryptocurrency fraud, seizing $600,000, weapons, gold jewelry and digital equipment
https://t.co/8zhhgbpnvv
— Türkiye Today (@turkiyetodaycom) October 14, 2026
Authorities took Heart and his wife into custody after conducting extensive technical surveillance and physical monitoring. During the operation, officers reportedly seized dozens of luxury watches, computer equipment, firearms, ammunition, drones, and large amounts of cash in different currencies.
Heart previously faced a civil enforcement case brought by the US Securities and Exchange Commission (SEC) in 2023. The agency accused him of fraud and offering unregistered securities. However, in February 2025, a US federal judge dismissed the case because the court lacked personal jurisdiction over him.
His arrest in Turkey now moves the legal dispute away from the US civil regulatory system and toward international criminal proceedings. Turkish courts will have to determine whether the legal requirements for extradition are met and whether Heart can be sent to Finland to face the allegations in Helsinki.
Crypto community questions reports of Richard Heart’s arrest
Some media reports have described the Istanbul raid as part of a coordinated international crackdown on cryptocurrency fraud. Social media user Pulseheartwin questioned the reliability of early reports, noting that major English-language crypto news outlets appeared to rely mainly on local Turkish media reports without official confirmation from judicial authorities.
He also pointed out a difference between the allegations previously mentioned by Europol and the charges linked to Interpol’s active Red Notice. While Europol had reportedly referenced an assault allegation alongside the tax charges, the active Interpol notice specifically concerns aggravated tax fraud.
Update: Bitcoin News is now reporting it too, the first major English-language crypto outlet to cover the Istanbul detention. Still citing Turkish media; no official confirmation yet.
Note: the assault allegation mentioned in some coverage was removed from both Europol and Interpol. The current Red Notice lists only aggravated tax fraud.
— PulseHeartWIN (@_pulseheartwin_) October 14, 2026
Another X user, Hex Aphrodite, dismissed the arrest reports altogether. The user pointed to what they described as physical inconsistencies in footage published by local media and questioned why a high-profile figure facing international legal scrutiny would choose to live in Turkey, given its legal system.
Heart’s arrest does not guarantee a trial in Finland. Turkey must review Finland’s request under its laws and applicable agreements. Legal obstacles, including double criminality, incomplete paperwork, and disputed crypto valuations, could delay or prevent extradition.
READ ALSO: The Biggest Crypto Criminals in History and How They Were Finally Caught
Kaneda Questions Links Between Seized Equipment and Crypto Homejackings
Beyond the extradition question, the reported seizure of equipment and other valuables from Heart’s residence has started further discussion within the crypto community. X commenter @Kaneda listed the items reportedly confiscated during the operation, including firearms, ammunition, mobile phones, laptops, graphics cards, and drones. He also raised questions about whether the seized equipment could help investigators establish a connection between Heart and wider international cryptocurrency homejacking networks.
• 7 firearms and 1,360 rounds of ammunition • 12 mobile phones and 6 laptops • 20 graphics cards and 14 SSDs • 2 drones
🧐🤔could this guy also be responsible for some of the crypto homejacking ?— Kaneda (@Kaneda02Bitcoin) October 15, 2026
The reports have also raised questions about whether governments use high-profile cryptocurrency arrests to acquire digital assets for national crypto reserves.
Law enforcement confiscations follow strict evidentiary protocols that prevent immediate government spending. For instance, when federal agents seized over 69,000 Bitcoins from the Silk Road darknet market, the US government did not add the assets to a strategic reserve. Instead, the Department of Justice spent years navigating civil forfeiture proceedings before clearing the tokens for public auction by the US Marshals Service.
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