CryptoMedium•15 October 2026•
1 min read
HEX Token Crashes 30% on Reports of Founder Richard Schueler's Arrest in Istanbul
Key Facts
1The HEX token price declined by 30%, erasing $160 million in market value.
2Local media reports indicated the arrest of project founder Richard Schueler in Istanbul.
3The alleged arrest comes nearly two years after Interpol issued a Red Notice for Schueler.
The HEX token price declined by 30%, erasing $160 million in market value. CoinTelegraph reported that local media indicated the arrest of project founder Richard Schueler in Istanbul. The alleged arrest follows nearly two years after Interpol issued a Red Notice for Schueler.
The news triggered a mass sell-off of the cryptocurrency, leading to a significant destruction of market capitalization. In broader economic context, data from October 9, 2026, showed Turkey's industrial production contracted by 1.9% annually, while retail sales in the country grew by 10.1% as of October 12, 2026.