Richard Heart detained in Turkey, HEX market cap drops $246 million

HEX founder Richard Heart was detained by Turkish authorities in Istanbul on October 14. Police seized $7.15 million in cash, firearms, and luxury items including 28 watches and 300 bags during a raid. Interpol issued a Red Notice for Heart two years ago over tax fraud and assault allegations. HEX market cap fell from $561 million to $315 million following the news. Authorities have not yet confirmed if Heart has been formally arrested or charged.