Global police network Interpol has reportedly issued a “Red Notice” for Richard Schueler, better known as Richard Heart.
Heart is the creator of the crypto project Hex. The accusations against Heart are serious. Finnish officials claim he committed tax fraud and was involved in an assault incident involving a 16-year-old.
Active Online, Silent on the Case
Reports state that these accusations date back to 2020 and stretch up to 2024. While Finland first issued a legal order in September, the global notice was only made public recently. Despite the charges, Heart has maintained an active social media presence, sharing updates about his work and even addressing critics indirectly.
In one post, the Hex creator highlighted raising $27 million for medical research, seemingly deflecting attention from the allegations. However, he has not directly responded to the charges or the Red Notice.
If the haters really wanted to get me down they could raise more than the $27M I did for medical research. Write free self help books better than my sciVive and Fix The World. Work in the courts for legal precedent for P2P publishing software. Found things that work flawlessly…
— Richard Heart (@RichardHeartWin) December 22, 2024
Heart’s legal troubles do not end with Finnish authorities. He is involved in a legal dispute with the US Securities and Exchange Commission (SEC). The US regulator accuses him of raising over $1 billion through the sale of three cryptocurrency tokens—Hex, PulseChain, and PulseX—without proper registration. The SEC claims the sale of these tokens violated US laws. The crypto market reacted sharply to Interpol’s Red Notice story. The $HEX token dropped by over 25% shortly after the story broke.
A Red Notice is not an arrest warrant. Instead, it serves as a request for police worldwide to find and temporarily hold someone. Recall that Interpol issued a Red Notice for Terraform Labs founder Do Kwon in 2022. Authorities claimed Kwon was a key figure in the 2022 collapse of the Terra/Luna cryptocurrencies.
Hex and PulseChain founder Richard Heart wanted by Interpol on charges of tax evasion and assault. pic.twitter.com/43OC5tbAmU
— Watcher.Guru (@WatcherGuru) December 22, 2024
A growing focus on crypto
Heart’s and Kwon’s cases are examples of the growing scrutiny in the crypto space. Law enforcement agencies targeted illegal crypto activities, from fraud to hacks, throughout 2024.
North Korean hackers stole more from crypto platforms than ever before: $1.34 billion, which represents 61% of the total amount stolen for the year. pic.twitter.com/tVBsOKW8U7
— Chainalysis (@chainalysis) December 19, 2024
Interestingly, a new Chainalysis report shows that hackers wiped off over $1 billion from crypto platforms in 2024. Additionally, centralized platforms took the most hit. The report highlights the demand for stronger security measures as crypto goes mainstream.
Disclaimer
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