HEX, the cryptocurrency founded by Richard Schueler, surged by 15% within 24 hours of Interpol issuing a Red Notice for the controversial figure.
Schueler is facing accusations of tax fraud and physical assault. These discrepancies were central to the legal action against the HEX founder.
In addition to the tax fraud allegations, Schueler is also accused of physically assaulting a 16-year-old by dragging them into a stairwell and knocking them to the ground.
Schueler’s defiant stance against the SEC lawsuit fuels further controversy surrounding the founder, who has been a divisive figure in the cryptocurrency world.
Despite the mounting legal pressure, Schueler has yet to publicly comment on the Red Notice, although he remains active on social media.
The price of HEX has fluctuated dramatically following the news of the Red Notice, with some speculating that the surge could be driven by speculative trading or by loyal supporters of Schueler viewing the legal challenges as a rallying point.
Schueler’s legal troubles extend beyond Finland; he also faces an unprecedented lawsuit from the SEC over allegedly selling crypto without proper registration.
It remains to be seen whether HEX can continue to thrive in a market already known for its volatility and uncertainty.
For now, the fate of HEX and its founder hangs in the balance, as both the legal challenges and market forces continue to shape the trajectory of one of the most controversial figures in the cryptocurrency world.