Turkey seizes $7.15 million in cash, six cold wallets and seven guns in raids linked to HEX founder Richard Heart, the justice minister says

Turkey has put an official stamp on the arrest of Richard Heart. Justice Minister Akın Gürlek said on Saturday that the US citizen, whose legal name is Richard James Schueler and who is wanted on an Interpol red notice, was detained with his wife in Istanbul's Beşiktaş district on October 14, in an operation run by the Istanbul chief prosecutor's office with police and the MİT intelligence agency.

Officers searched 15 addresses in Beşiktaş, Üsküdar and Sarıyer, according to the minister's statement as reported by the state news agency Anadolu. They seized $7.15 million and 160,000 Turkish lira in cash, six cold wallets, 28 watches, 97 pieces of jewellery, 19 graphics cards, four long-barrelled rifles, three unlicensed pistols and 1,400 rounds of ammunition. Three people described as his bodyguards were detained later.

Gürlek linked the red notice to allegations of a $1 billion crypto fraud in the United States and Finland. The notice was issued in late 2024 at Finland's request over suspected gross tax evasion and assault, The Block reported. A US judge dismissed the SEC's fraud case against Heart in February 2025.

The minister did not say whether Turkey has received an extradition request. HEX was down about 14% over 24 hours on Saturday, The Block reported, citing CoinGecko.