Richard Heart’s Followers Panic As HEX, PulseChain Tokens Nosedive Over 90% Amid Troubling Lawsuit

According to the latest events, Richard Heart’s cryptocurrency tokens have plummeted in value, leaving investors reeling. The tokens in question—Hex (HEX), PulseChain (PLS), and PulseX (PLSX)—have seen declines of 99%, 87%, and 92% respectively from their all-time highs.

  • PulseX (PLSX): Peaked at $0.000139 in May and is now languishing at less than $0.000012.
  • PulseChain (PLS): Once soared to an all-time high of $0.0000278, now reduced to a meager $0.00004352.
  • Hex (HEX): Crashed from its zenith of $0.55 to a dismal $0.004.

OKX Delists PulseChain

Adding insult to injury, OKX, a major cryptocurrency exchange, has announced its decision to delist PulseChain’s PLS/USDT trading pair. This move is particularly devastating as this trading pair accounted for over 97% of PLS’s trading volume, according to data from CoinGecko.

  • PulseChain: Touted as Richard Heart’s answer to Ethereum.
  • PulseX: Marketed as a superior alternative to Uniswap.
  • Hex: An older ERC-20 token, primarily traded on Uniswap.

The U.S. Securities and Exchange Commission (SEC) has filed a billion-dollar lawsuit against Richard Heart, legally known as Richard J. Schueler. The lawsuit also names HEX, PulseX, and PulseChain.

The SEC accuses Heart of misappropriating at least $12 million from token sales for personal luxuries, including the purchase of a 555-carat black diamond known as “the Enigma” in February 2022. The court date has been set for November 28.

Despite the grim circumstances, the community of HEX, PulseX, and PulseChain enthusiasts—often referred to as the “army”—remains optimistic. They express confidence that Heart will triumph over the SEC’s allegations.

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However, the SEC appears to have a strong case. Heart has consistently promoted his tokens as lucrative investments, often flaunting his luxurious lifestyle funded by what the SEC alleges are ill-gotten gains. This behavior has been documented in the film The Highest of Stakes, further strengthening the SEC’s position.

The future looks uncertain for Richard Heart and his crypto ventures. With a billion-dollar lawsuit hanging over his head and his tokens’ values in freefall, Heart faces an uphill battle. Whether he will manage to turn the tide remains to be seen, but for now, the odds seem to be stacked against him.

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CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of


Petar Jovanović
Petar Jovanović

As the Head of Content at Captainaltcoin, I bring years of experience in the crypto industry. With a strong belief in the potential of the web3 market since 2017, I'm passionate about sharing valuable insights and knowledge. Feel free to connect with me on LinkedIn and let's discuss the exciting world of cryptocurrencies and decentralized technologies!

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