be Richard Heart - Richard James Schueler - early 2000s internet marketer - sued in 2002 under Washington anti-spam laws - called the “Spam King” - mid 2000s linked to controversial business activity in Panama - promotes anti-aging products 2018 - launches HEX on Ethereum - markets it as a “blockchain certificate of deposit” - promises high yield for staking - up to 38% APY for long lockups - introduces penalties for early withdrawals - calls it “Proof of Wait” 2019–2020 - raises over 2.3M ETH through HEX distribution phase - community grows aggressively 2021–2022 - launches PulseChain (Ethereum fork) - launches PulseX (DEX on PulseChain) - uses the term “sacrifice” instead of “invest” - raises over $1B across HEX, PLS and PLSX - buys a 555-carat black diamond “The Enigma” - luxury watches - sports cars July 31, 2023 - SEC sues him - alleges unregistered securities - alleges $12M spent on luxury goods And alleges recycling transactions to control supply December 2024 - Finland issues arrest warrant - Interpol Red Notice activated - charges: aggravated tax evasion - alleged hundreds of millions unpaid February 28, 2025 - federal judge dismisses SEC case - says SEC failed to prove jurisdiction - case closed 2026 - HEX trading at fractions of a cent - down massively from highs - low liquidity PulseChain - modest TVL around ~$50M - small DEX volume - ecosystem far from peak hype - remains active on X the man who raised over a billion dollars beat the SEC but still runs from Interpol