HEX token sellers erase $160M following reports of founder Richard Schueler’s arrest
HEX fell sharply after reports of Richard Schueler’s detention in Istanbul. One account said the move came after local media reports tied the founder to an arrest, while another said the selloff erased about $160 million from HEX’s reported market capitalization and later showed deeper 24-hour losses.
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HEX holders and traders noticed the move immediately because the token’s price and reported market value fell after the Istanbul detention reports. That kind of change shows up directly in market screens and portfolio values the same day, rather than as a gradual shift.
Before this, HEX had already been trading with the founder’s earlier Interpol Red Notice in the background, but the event now described is a detention report and a sharp price drop. What stayed the same is that the token remained tradable; what changed was the market reaction visible in the price and capitalization figures.
Market reaction
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Where this sits in the Bitcoin series
| When | What happened | Figure |
|---|---|---|
| 1.0 years ago | BTC a 1.152e+05 $ high | today it sits -29.4 % from there |
| 4 months ago | BTC a 5.857e+04 $ low | today it sits +38.9 % from there |
From what we have stored, starting 1.0 years ago.