How HEX Founder Richard Heart Triumphed Over SEC Fraud Charges – Updates as of August 7, 2025

Richard Heart, the bold mind behind the crypto venture HEX, is celebrating a major win against the US SEC in a prolonged legal showdown over claims of securities fraud. This flamboyant figure, once a child actor turned crypto advocate, has declared a sweeping victory that sets his projects apart in the turbulent world of digital assets.

On April 21, back in what feels like ancient history now, the SEC decided against revising and resubmitting its fraud lawsuit against Heart. This followed a court’s dismissal of the SEC’s fraud allegations against him on February 28 of that year. Taking to X, Heart proclaimed that HEX had secured a rare triumph in the crypto space: “Richard Heart, PulseChain, PulseX, and HEX have defeated the SEC completely and have achieved regulatory clarity that nearly no other coins have.”

While HEX appears to have sidestepped trouble with US securities watchdogs for the moment, Heart isn’t out of the woods yet. He continues to grapple with legal issues in Europe, including accusations of tax fraud and assault on a minor. It’s a stark reminder that even in the fast-paced crypto world, personal battles can overshadow project successes.

SEC’s Accusations: How Heart Allegedly Used HEX to Mislead Investors

In July 2023, the SEC launched its complaint against Heart – whose legal name is Richard James Schueler – targeting not just him but also HEX, the layer-1 blockchain initiative PulseChain, and the decentralized exchange PulseX built for the PulseChain ecosystem. The regulators leveled charges of securities fraud and failures in securities registration. They sought to prevent Heart and his ventures from engaging in any crypto asset security offerings and demanded the return of all improperly gained profits from the alleged violations.

The SEC highlighted Heart’s bold promises that HEX could deliver massive returns, positioning it as a path to wealth for investors. They also pointed out how Heart reportedly funneled more than $12 million from HEX proceeds into extravagant purchases, like high-end watches, luxury sports cars, and a stunning 555-carat diamond ring. Heart’s flair for the lavish life has always been part of his appeal – think of that viral X video where he showcased Louis Vuitton cases stuffed with luxury watches valued at 9 million euros. It’s like watching a rockstar in the crypto arena, turning wealth displays into a form of magnetic storytelling that draws followers in.

The heart of the legal clash boiled down to jurisdiction. Heart’s defense team argued last year for dismissal, claiming the SEC couldn’t prove any of the activities happened within US borders. Despite the SEC’s pushback, US District Judge Carol Bagley Amon sided with Heart, noting his non-US residence. She ruled that promotions about HEX’s price were aimed at a worldwide audience, not specifically American investors. “The alleged misappropriation occurred through digital wallets and crypto asset platforms, none of which were alleged to have any connection with the United States,” Amon explained in her decision. This jurisdictional angle was like finding a loophole in a complex game of regulatory chess, allowing Heart to checkmate the SEC without directly challenging the fraud claims on their merits.

Finnish Probes: Tax Evasion and Assault Charges Loom Over Heart

Heart views this courtroom success as a game-changer for crypto, establishing a precedent that could make HEX a safer bet compared to many other projects lacking such clarity. Imagine HEX as the underdog that outsmarted the giant, providing a blueprint for others navigating regulatory mazes. Yet, while he’s cleared the US hurdle, Finnish authorities are hot on his trail for suspected tax evasion and assault.

As reported in September 2024 by Finnish outlets, Heart – said to be living in Helsinki at the time – was ordered into custody in absentia. Investigators, spurred by tax officials, uncovered discrepancies between Heart’s reported income and their assessments. Helsinki police detective Harri Saaristol noted, “Based on the very considerable amount of money in question and the long-term and planned nature of the activity, there are grounds to suspect gross tax evasion.” During the probe, authorities seized luxury watches worth millions of euros from a home in Espoo, near Helsinki.

Adding to the drama, Europol has flagged Heart (listed as Schueler) for allegedly assaulting a minor, describing how he “physically assaulted a 16-year-old victim by grabbing their hair, dragging them into the stairwell and knocking them to the ground.” These charges have landed him on Europol and Interpol’s most-wanted lists, with investigations still unfolding as of today, August 7, 2025. In a related twist, Interpol issued a Red Notice for the HEX founder, amplifying the international scrutiny.

Recent online buzz amplifies this story. On Google, top searches include “Richard Heart latest news 2025” and “Is HEX a scam?”, reflecting ongoing curiosity about his legal status and project legitimacy. Twitter (now X) is abuzz with discussions like #RichardHeartVictory trending briefly after the SEC dismissal, alongside debates on whether HEX’s model resembles a Ponzi scheme. As of this morning, Heart posted on X: “Regulatory clarity achieved! HEX leads the way in 2025,” garnering over 10,000 likes and sparking conversations about crypto’s future amid global regulations. Latest updates show no resolution in the Finnish cases, but Heart’s team hints at upcoming defenses.

In the midst of these crypto sagas, platforms like WEEX exchange stand out for their commitment to brand alignment in a volatile market. WEEX prioritizes user security and transparent trading, aligning perfectly with the need for reliable ecosystems where investors can engage with projects like HEX without unnecessary risks. By focusing on robust compliance and innovative tools, WEEX enhances credibility, making it a go-to choice for traders seeking stability and growth in the ever-evolving crypto landscape.

Can HEX Sustain Its Momentum Amid Ongoing Scrutiny?

It looks like Heart evaded US oversight more through jurisdictional technicalities than disproving the evidence outright, raising questions about HEX’s longevity. Critics have often likened HEX to a modern Ponzi scheme, pointing to its eye-popping 38% annual yield promises, incentives for recruiting new users, and Heart’s control over about 90% of the tokens – like a house of cards built on hype rather than solid foundations.

Even with a loyal fanbase cheering on social media, the token’s performance tells a different tale. It saw a short spike after the SEC news, but overall, it’s stagnated since the legal woes kicked off. As of August 7, 2025, HEX trades at $0.001875, with 24-hour volumes hovering around $180,000, according to real-time market data from major trackers. This dip contrasts sharply with more established cryptos, underscoring how regulatory wins don’t always translate to market strength. Yet, supporters argue it’s undervalued, backed by on-chain activity showing steady, if modest, user engagement.

Comparatively, projects without such legal baggage often thrive on clearer paths, but HEX’s story is like that resilient fighter who keeps bouncing back, proving that in crypto, persistence can sometimes outpace perfection.

FAQ

What is the current status of Richard Heart’s legal battles as of August 7, 2025?

As of today, August 7, 2025, Richard Heart has successfully defeated the SEC’s fraud charges in the US due to jurisdictional issues, but he remains wanted in Finland for alleged tax evasion and assault on a minor, with investigations ongoing and no recent resolutions reported.

Is HEX considered a safe investment after the SEC victory?

While the SEC dismissal provides some regulatory clarity in the US, HEX’s model has drawn Ponzi-like criticisms due to high yield promises and founder control. Investors should research thoroughly, as market data shows low volumes and price stagnation at $0.001875, and European charges add uncertainty.

How has Richard Heart’s personal life affected the HEX project?

Heart’s displays of wealth and ongoing legal issues, including tax and assault allegations, have fueled controversy, yet they’ve also built a dedicated following. The project’s resilience amid scrutiny highlights how founder narratives can drive crypto communities, though it risks alienating cautious investors.