HEX founder Richard Heart was detained in Istanbul after Turkish police and intelligence raided his Beşiktaş apartment on an Interpol Red Notice tied to a Finnish tax fraud probe. The operation ran after Finland requested the Red Notice in December 2024. Turkish police and MİT moved in on October 14, detaining Richard James Schueler, the crypto figure known as Richard Heart. Officers seized $4 million in cash, 64 luxury watches, drones, firearms, and six cold wallets, along with a dozen phones and laptops. KuCoin reported the cash and cold wallets could total roughly $7.15 million. Heart’s wife was also detained in the same raid. The Red Notice linked to Finland’s investigation into aggravated tax fraud, alleging unpaid taxes on income from June 2020 through April 2024. Finnish authorities said the suspected sum could run into the hundreds of millions of euros. A separate assault charge is attached to the same warrant, with Europol’s most-wanted listing accusing Heart of knocking a 16-year-old to the ground and punching them repeatedly. After the news broke, HEX plunged nearly 60%, from around $0.00226 to a low near $0.0009, with other crypto tokens also dropping sharply. Heart is being held in Turkish custody as extradition to Finland is not automatic and legal steps can take time.