Turkish Authorities Arrest HEX Founder Richard Heart, Detain Wife

Turkish authorities have detained Richard Heart, the founder of the HEX crypto project, along with his wife during an intelligence-backed police operation in Istanbul. The arrest is a notable outcome in an international search related to allegations against the American entrepreneur.

Local reports indicate that authorities located Heart at a residence in the upscale Beşiktaş district before conducting the operation. The authorities also confiscated various valuable items belonging to the HEX founder.

Turkish Authorities Arrest Richard Heart

The operation started after Finnish authorities requested international assistance in locating Heart. According to Turkish media, police collaborated with the National Intelligence Organization to determine his whereabouts before executing a raid on his residence in Beşiktaş.

Heart and his wife, referred to in local reports by the initials A.K., were subsequently taken into custody during the operation. Investigators reportedly recovered approximately $603,906.87 from the property. They also confiscated 12 mobile phones, 8 computer towers, 6 laptops, graphics cards, storage devices, and 2 drones.

However, the discovery of several other unusual items added a different narrative to the investigation. Officers seized three pistols, four long-barreled rifles, seven magazines, and 1,360 rounds of ammunition from the apartment.

Why the Arrest?

The Finnish authorities are seeking his arrest on allegations of aggravated tax fraud and assault. In 2024, Finland requested an Interpol Red Notice, putting him on the international law enforcement radar. These allegations provide immediate context for the operation in Istanbul. Still, the legal outcome of these claims remains unresolved.

Additionally, Heart has come under scrutiny in the United States for the crypto ventures he founded. In 2023, the Securities and Exchange Commission (SEC) accused him and his associated entities of raising over $1 billion through unregistered crypto-asset securities offerings. The SEC also alleged that at least $12 million was spent on luxury items, including expensive watches, sports cars, and a rare black diamond known as “The Enigma.”

However, in 2025, a U.S. court dismissed the SEC case on jurisdictional grounds. Meanwhile, Heart’s detention in Turkey is a separate matter linked to the Finnish investigation, which leaves questions about potential legal proceedings and extradition unanswered.