HEX token sellers erase $160M following reports of founder Richard Schueler arrest
CointelegraphCointelegraph by Zoltan Vardai
The HEX token’s price declined by 30% following local media reports of the Istanbul arrest of founder Richard Schueler, nearly two years after Interpol issued a “Red Notice.” The Hex (HEX) token fell nearly 30% in the past 24 hours after local media reports of founder Richard Schueler, also known as Richard Heart, being detained by authorities in Istanbul. The HEX token declined to $0.0006 as of 11:28 am UTC on Thursday, erasing about $160 million from its market capitalization, from more than $500 million on Wednesday to $340 million by press time, according to CoinMarketCap. It previously topped $0.44 in September 2021. On Wednesday, news outlet Ihlas Haber Ajansı (IHA) reported that Schueler and his wife were detained in Istanbul by Turkish authorities.
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