SEC charges Hex founder Richard Heart of crypto theft to fund $4 million ‘Enigma’ diamond purchase

The Securities and Exchange Commission on Monday charged Richard Heart, founder of the crypto projects Hex and PulseChain, with unregistered sale of more than $1 billion in crypto asset securities and the theft of $12 million of those funds to purchase a series of luxury goods.

The SEC alleges that Heart’s sale of Hex tokens was an unregistered securities sale, while a separate creation, PulseX was an unregistered securities exchange that featured a native token, PulseChain, that was also an unregistered security.

The…