HEX token erases $160 million following reports of founder Richard Schueler’s arrest
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The HEX token’s price fell by 30% to $0.0006 following local media reports that founder Richard Schueler was detained in Istanbul by Turkish authorities. The decline erased about $160 million from the token's market capitalization, dropping it from over $500 million to $340 million. The reported detention comes nearly two years after Interpol issued a Red Notice for Schueler regarding alleged tax fraud and assault.
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