Richard Hart Arrested in Istanbul After Two Years on the Run

The manhunt for Richard Hart is over. The HEX and PulseChain founder has been arrested in Istanbul, brought to justice by Turkish police after a two-year run from the law in what was a very public operation that also saw them seize his valuables and electronics.

Details of Richard Hart’s Arrest and Seizure

It was an Interpol request submitted by Finland that prompted the authorities to move on Hart on 14 October 2025. As detailed in the most recent Coin Bureau episode, the Turks were thorough in their confiscation of Hart’s property, taking everything from firearms and laptops to hardware wallets, mining equipment, and a substantial amount of cash and jewelry. In doing so, they have put an end to a global pursuit that had Hart moving from one country to another.

At the time of his arrest, Hart was living large; he had a habit of showing off his luxury cars, watches, and other signs of wealth as a way of advertising the success of his blockchain ventures and attracting investors. For someone who was once the toast of the crypto world, the seizure of his belongings by the Turks is a stark reversal of fortune.

Legal Troubles and International Pursuit

Hart faces charges from the Finnish authorities for tax evasion amounting to hundreds of millions of euros over the period 2020-2024. Yet even with an Interpol warrant out for him, he made no secret of his projects online, streaming to his community in a manner the host of Coin Bureau described as brazen. There was a brief reprieve in February 2025 when a U.S. court dismissed the SEC’s case against him for lack of any evidence of U.S. involvement, but the European allegations carried more weight and in the end he was caught.

Market Turmoil and Project Fallout

News of the arrest in Istanbul has rippled through the crypto markets. Investors, worried about the fate of Hart’s ventures with their chief proponent behind bars, have been quick to act: the price of PulseChain’s token is down 40 percent and both PLSX and HEX are in the red. Then there is the matter of sustainability for the ecosystem. PulseChain was meant to be Ethereum’s rival but has not taken off, with much of the activity confined to the PulseX exchange, another of Hart’s projects. Now that he is in custody and his assets are gone, the future of PulseChain and HEX is in some doubt.