In a recent development, Richard Heart, the entrepreneur behind the renowned cryptocurrencies HEX and PulseChain, is reportedly on the run after the U.S. Securities and Exchange Commission (SEC) leveled charges against him. The news broke on Twitter via the user @WhaleChart, a reputed account known for its crypto-related updates.
According to the SEC’s allegations, Heart, and his venture PulseChain deceptively secured at least $12 million. These funds were reportedly used for personal indulgences, such as acquiring luxury items. The origin of these charges can be traced back to Heart’s unregistered securities offerings, through which he accumulated a staggering $1 billion.
However, it is essential to underscore that these claims remain speculative. The information has yet to be officially confirmed. The crypto community eagerly awaits further details on the situation, with many emphasizing the importance of due diligence and verifying facts before passing judgments. In this age of rapid information dissemination, it’s crucial to discern between verified news and potential rumors.
Heart’s projects, HEX and PulseChain, have garnered significant attention in cryptocurrency, with many followers and critics alike. Any developments related to the founder are bound to ripple across the ecosystem. As the story unfolds, it remains to be seen how this will impact the reputation and operations of both HEX and PulseChain.
History Between Heart and SEC
Richard Heart, the founder of Hex, faces charges from the SEC over the alleged misappropriation of investor funds stemming from unregistered cryptocurrency asset securities offerings that amassed over $1 billion.
Beginning his promotion of Hex in 2018, Heart touted it as the inaugural high-yield “blockchain certificate of deposit.” The SEC’s documents reveal that Heart diverted at least $12 million from the raised capital to luxury items, including rare gems, cars, and timepieces. Among the extravagant purchases was a diamond dubbed the “Enigma.”
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