HEX cryptocurrency has experienced a dramatic decline after its founder, Richard Heart, was put on Interpol's 'most wanted' list.
HEX, a decentralized finance (DeFi) project, gained popularity for its high-yield investment claims but faced criticism for its unconventional tokenomics and centralized control.
Richard Heart, known for ostentatious displays of wealth, is facing charges related to fraudulent activities and money laundering in connection with HEX and associated projects.
HEX's price plunged over 50%, erasing millions of dollars in market value, causing concern for the entire DeFi ecosystem. The scandal renews the debate on regulation in the crypto market.