According to Turkish Justice Minister Akın Gürlek on Saturday, Richard Heart (real name Richard James Schueler), founder of Hex and PulseChain, was detained in Istanbul on Wednesday along with his wife. Authorities conducted raids across 15 addresses in three Istanbul districts, seizing $7.75 million in cash, six cold wallets, 160,000 Turkish lira, 28 watches, 97 pieces of jewelry, and other items including firearms and ammunition. The operation was executed by Istanbul's Chief Public Prosecutor's office and supported by Turkish intelligence agency MİT. Heart is linked to a red notice connected to a $1 billion cryptocurrency fraud allegation involving the United States and Finland. HEX token declined approximately 14% in the past 24 hours following the arrest.

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