HEX Plunges 30% After Reports of Richard Schueler’s Istanbul Detention

TL;DR HEX fell nearly 30% after reports of Richard Schueler’s detention in Istanbul, erasing roughly $160 million from the token’s reported market capitalization as sellers reacted. CoinMarketCap later showed HEX near $0.000579, down about 34.6% over 24 hours, extending losses beyond the initial market snapshot during trading. Schueler’s earlier SEC case was dismissed in 2025, while the reported Turkish detention involves separate allegations and does not establish guilt in that matter. HEX fell sharply after local media reports said founder Richard Schueler, better known as Richard Heart, had been detained by authorities in Istanbul. The token dropped nearly 30% over 24 hours and reached $0.0006 in the initial market snapshot, cutting roughly $160 million from its capitalization.

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