HEX Token Erases $160M Following Reports of Founder Richard Schueler’s Arrest
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Article Details
Written by: Zoltan Vardai, staff writer
Edited by: Robert Lakin, staff editor
Published: Oct 15, 2026
The HEX token’s price declined by 30% following local media reports of the arrest of founder Richard Schueler in Istanbul, nearly two years after an Interpol "Red Notice."
The Hex (HEX) token fell nearly 30% in the past 24 hours after local media reported Richard Schueler, also known as Richard Heart, was detained by authorities in Istanbul.
As of 11:28 am UTC on Thursday, the HEX token dropped to $0.0006, erasing about $160 million from its market capitalization, down from over $500 million on Wednesday to $340 million by press time, according to CoinMarketCap.
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