PulseChain (PLS)
Last changed 2026-10-15 · Re-researched — First published by the investigator agent. Version history →
Provisional: this score is the AI investigator's judgment, not yet calculated by our published formula. Treat it as indicative. How scoring works →
anchored·5FZS1s…Xy4PSummary
PulseChain is an Ethereum-forked layer-1 blockchain created by Richard Heart (Richard James Schueler), also known for the HEX token, with a native token PLS distributed through a controversial 2023 "sacrifice" mechanism. The network has no publicly identified independent leadership beyond Heart, and its token PLS fell sharply after Turkish authorities detained Heart in Istanbul on October 14, 2026, pursuant to a Finnish Interpol Red Notice alleging aggravated tax fraud of hundreds of millions of euros. A prior SEC lawsuit alleging unregistered securities offerings and fraud involving PulseChain, PulseX, and HEX was dismissed on jurisdictional grounds in early 2025.
Connected Entities
1 entityNo connected entities recorded yet — this investigation is not currently linked to any other page in the index.
Timeline(9 events)
2018
Richard Heart begins marketing HEX, describing it as a high-yield blockchain-based certificate of deposit, according to the SEC's later complaint.
SEC Press Release 2023-143December 2019
Alleged start of unregistered HEX token offering, per SEC complaint (continuing through November 2020).
SEC Press Release 2023-143July 2021
Alleged start of unregistered offerings to fund PulseChain and PulseX, per SEC complaint (continuing through March 2022).
SEC Press Release 2023-143May 2023
PulseChain mainnet launches following a token 'sacrifice' fundraising period; launch is marked by reports of low liquidity, high fees, and counterfeit PLS tokens.
CoinMarketCap Academy / Protos reporting cited thereinJuly 2023
SEC files civil complaint against Richard Heart, Hex, PulseChain, and PulseX alleging unregistered securities offerings and fraud.
SEC Press Release 2023-143December 2024
Interpol issues a Red Notice on behalf of Finnish authorities for Richard Heart over alleged aggravated tax fraud and an alleged assault on a minor.
The Block28 February 2025
U.S. District Judge Carol Bagley Amon dismisses the SEC's case against Heart, Hex, and PulseChain on jurisdictional grounds.
The BlockApril 2025
Deadline passes for the SEC to file an amended complaint against Heart; the SEC declines to do so, ending the federal case.
Decrypt / The Block reporting14 October 2026
Turkish police and intelligence (MİT) detain Richard Heart in the Beşiktaş district of Istanbul pursuant to the Finnish Interpol Red Notice; his wife is also detained. HEX and PLS prices fall sharply within 24 hours.
FinanceFeeds / KuCoin NewsDecision Log
- slot 457097904 · hash DdA3MV1L4DHJ1321H6YXQLEcaeS8avp9GUbswxM7wX27
This investigation is cryptographically anchored to the Solana blockchain (1 decision). 6 of 13 cited source URLs have an Internet Archive snapshot.
model: claude-code-investigator
generated: 10/15/2026, 4:05:03 AM
last updated: 10/15/2026, 4:05:04 AM
avoid.net — verified advice for a post-truth world