HEX Plummets Over 40% After SEC Files Lawsuit Against Creator Richard Heart

After the U.S. Securities and Exchange Commission filed a lawsuit against Richard Heart and his companies Hex, Pulsechain and Pulsex, the crypto asset hex (HEX) has been in a free fall. Two-week statistics show HEX has lost 41.7% against the U.S. dollar and 35.8% over the past seven days.

Timeline of Hex

Uniswap, the largest decentralized exchange, has removed the HEX token from its interface after it was recently declared an unregistered security by the United States Securities and Exchange Commission (SEC). This comes as another blow for the token in what has been an unpleasant week so far.

The Securities and Exchange Commission declared HEX and two other crypto projects led by Richard Heart as unregistered securities in a lawsuit. Heart allegedly raised $1 billion from HEX, PulseChain, and PulseX since 2019, per the SEC's claims in an Eastern District of New York court.

The SEC continues its crackdown on alleged securities violations. In its latest move, the agency charged Richard Heart, founder of Hex, with conducting unregistered securities offerings that raised over $1 billion.

Richard Schueler, popularly known as Richard Heart, is facing a lawsuit alleging he raised over $1 billion in unregistered securities offerings across three projects and used investor funds for personal expenses.

On July 31, the U.S. Securities and Exchange Commission (SEC) filed suit against Richard Heart, the founder of blockchain projects PulseChain and HEX, for allegedly defrauding investors and selling unregistered crypto securities.

The U.S. Securities and Exchange Commission (SEC) has initiated a lawsuit against Richard Schueler, better known in the crypto world as Richard Heart, for unregistered offerings of three tokens: HEX, PulseChain, and PulseX. The SEC alleges that he raised over $1 billion through the unregistered offerings starting in 2019.

The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against Richard Heart and his cryptocurrency projects, including Hex, PulseChain and PulseX. What Happened: Heart, also known as Richard Schueler, raised more than $1 billion through the sale of unregistered securities, the SEC claims.

The price of HEX nosedived on Monday after the US Securities and Exchange Commission (SEC) sued the cryptocurrency's creator Richard Heart for securities fraud. SEC's allegations against Heart include fraud The SEC's lawsuit against Heart, aka Richard J.

The U.S. Securities and Exchange Commission (SEC) filed a lawsuit Friday against Richard Schueler, known as Richard Heart, and his companies Hex, Pulsechain, and Pulsex, alleging they raised more than $1 billion through unregistered securities offerings.

The U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Richard “Heart” Schueler and crypto projects HEX, PULSECHAIN, and PULSEX. According to a document filed with a court for the Eastern District of New York and shared on X by economist Alex Krüeger, the regulator is violating U.S. securities laws.