PulseChain and HEX: How Richard Heart’s house of cards is collapsing
Originally posted here.
By: Stephan Fiedler
Overview
The ecosystem around PulseChain, HEX and the decentralized crypto exchange PulseX is showing signs of unraveling. Behind the projects is Richard Heart, a self-proclaimed crypto guru.
The Post
The ecosystem around PulseChain, HEX and the decentralized crypto exchange PulseX is showing signs of unraveling. Behind the projects is Richard Heart, a self-proclaimed crypto guru.
Watch out, here comes a story where investors lost a lot of money – and probably put too much trust in a self-proclaimed crypto guru named Richard Heart. Specifically, it’s about the PulseChain (PLS) ecosystem, which launched in mid-May and includes tokens like HEX and the decentralized crypto exchange PulseX. Currently this Monday morning, founder Richard Heart has to admit via Twitter that the bridge between PulseChain and Ethereum (ETH) has been disrupted. But this incident is just one in a longer chain of disappointments that Richard Heart’s project has caused investors.
Heart’s adventures had begun in 2019/20 when he launched HEX. The ERC-20 token was supposed to bring a world first in the Ethereum ecosystem as a “store of value,” but HEX in practice only gave Richard Heart profits, as Protos analysts detail. But once he got a taste for it, the man, whose real name is Richard James Schueler, kept going. Now PulseChain, a copy of Ethereum (ETH) itself, was going to do it. On his website , Richard Heart calls himself “a force for good” and promises not only guidance on how to get wealthy quickly through crypto, but also help in quitting smoking, gambling and alcohol.
Richard Heart: many fans, many critics
This bizarre mixture gives Heart’s YouTube channel a good 150,000 subscribers, on Twitter around 330,000 people follow him and on TikTok there are also already more than 20,00 followers. So Richard Heart has a wide audience, which he got excited about PulseChain. But as Protos relentlessly analyzes : Richard Heart’s fans were once again confronted with bad news. Due to a security breach at the decentralized crypto exchange PulseX, millions of US dollars in fee income disappeared, which should have gone to the providers of liquidity. And why Bitcoin (BTC) was temporarily trading at over $70,000 on PulseX – more than double its market price – has yet to be definitively explained. But US media such as BeinCrypto suspect behind it a sign of a fraudulent pyramid scheme.
Among the harshest critics of Richard Heart is Eric Wall , who classifies the projects as “fake” and who sometimes can’t resist deriding “stupid people” as more interesting than smart people. With this, he aims in the direction of Richard Heart’s followers, who have always been ready to pour in money instead of parting with hopeless investments. Meanwhile, the price curves of HEX, PulseChain and PulseX are all moving towards total loss.
PulseX: The Decentralized Exchange That Never Came to Be
Heart’s latest project, PulseX, is a decentralized exchange that is supposed to be launched on PulseChain. However, it has been delayed indefinitely. Heart has blamed the delays on the SEC investigation into his crypto projects.
Richard Heart: Crypto Guru or Ponzi Scheme Promoter?
Richard Heart is a self-proclaimed crypto guru who has been involved in a number of high-stakes crypto projects, including HEX, PulseChain, and PulseX. However, his house of cards is starting to collapse.
Heart’s first project, HEX, was an ERC-20 token that was supposed to be a “store of value.” However, it has been criticized for being a Ponzi scheme. Heart has made millions of dollars from HEX, while investors have lost money.
Promoting HEX with Misleading Information
Heart has also been accused of promoting HEX with misleading information. He has claimed that HEX is the “highest appreciating asset in the history of man,” but this claim has been disputed by experts.
PulseChain: The Fork That Never Was
Heart’s next project, PulseChain, is a fork of the Ethereum blockchain. It was supposed to launch in May 2022, but it has been delayed multiple times. Heart has blamed the delays on Ethereum congestion, but some investors believe that he is running out of money.
PulseChain Bridge: A Technical Nightmare
PulseChain’s launch has also been marred by controversy. Heart has been accused of promoting PulseChain with misleading information. He has also been criticized for his handling of the PulseChain bridge, which was supposed to allow users to transfer their ETH and ERC-20 tokens to PulseChain. The bridge has been plagued by delays and technical problems.
The SEC Investigation: The Beginning of the End for Richard Heart?
The SEC investigation is just one of the problems that Heart is facing. He is also facing lawsuits from investors who have lost money in his crypto projects. Heart has denied any wrongdoing, but the future of his crypto empire looks increasingly uncertain.
The Future of Richard Heart’s Crypto Projects
It is unclear what the future holds for Richard Heart’s crypto projects. The SEC investigation could result in significant fines or even jail time for Heart. The lawsuits from investors could also bankrupt him. If Heart is forced to sell off his crypto assets, the prices of HEX, PulseChain, and PulseX could plummet.
Only time will tell what the ultimate fate of Richard Heart’s crypto empire will be. However, it is clear that his house of cards is starting to collapse.
Conclusion: Richard Heart is probably a scammer with HEX, PulseX and PulseChain.
If you like, you can also read a recent opinion piece by established crypto columnist David Morris on Richard Heart aka Richard James Schueler, who speaks of an “addictive parallel universe.” Or you can marvel at Heart’s web presences of expensive sports cars, record-breaking diamonds, luxury watches and more. However, we simply recommend to keep your hands off anything related to Richard Heart. His projects smell like scam from afar and it didn’t even take the new incidents to come to this conclusion.
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