Analysts Spot Wallets Linked to Richard Heart’s New Project Laundering Funds via Tornado Cash

• What Is ProveX, and How Does It Relate to Richard Heart’s Past Projects?
• How Are Funds Being Laundered Through Tornado Cash?
• What’s the Endgame for ProveX?
• Why Is Richard Heart’s Model Controversial?
• What’s Next for ProveX and Its Investors?
• FAQs

Richard Heart’s latest venture, ProveX, is under scrutiny as blockchain analysts uncover wallets tied to the project allegedly laundering funds through Tornado Cash. The project, which mirrors Heart’s previous token launches like HEX and PulseChain, involves an ETH "sacrifice" model to generate new tokens. With ProveX’s sacrifice phase ending soon, concerns grow over the movement of 128,808 ETH into linked wallets, some of which were previously mixed via Tornado Cash. This article dives into the details, historical context, and potential implications for investors.

What Is ProveX, and How Does It Relate to Richard Heart’s Past Projects?

ProveX is the newest project from Richard Heart, the controversial founder behind HEX, PulseChain, and PulseX. Like its predecessors, ProveX employs a sacrifice model where investors send ETH to a public address in exchange for future tokens. This approach, first popularized by HEX, has drawn both fervent supporters and skeptics. Heart’s projects often follow a pattern: a prolonged sacrifice phase, a delayed launch, and significant volatility post-launch. PulseX, for instance, left many investors with 90% losses despite initial hype. ProveX seems to be treading a similar path, with its sacrifice period ending on January 8, 2026, and no official launch date in sight.

How Are Funds Being Laundered Through Tornado Cash?

Blockchain researchers flagged unusual activity on January 6, 2026, when Tornado Cash saw a spike in withdrawals—multiple transactions of 100 ETH each, later consolidated into a single wallet. Further analysis linked these funds to ProveX’s sacrifice address, with 128,808 ETH flowing into it. Notably, Heart had previously deposited 112,987 ETH into Tornado Cash in November 2025, raising questions about whether recycled ETH is being used to inflate ProveX’s token allocations. Tornado Cash, a privacy tool banned by the U.S. Treasury in 2022, obscures transaction trails, making it a favored tool for money laundering. While Heart hasn’t commented, the timing and amounts suggest strategic movement of funds.

What’s the Endgame for ProveX?

ProveX aims to launch a decentralized exchange (DEX) for perpetual contracts, entering an already crowded market dominated by platforms like Hyperliquid. Its success hinges on rallying Heart’s loyal community, who may receive early token allocations. However, history casts doubt: PulseX’s launch left many investors underwater, and skeptics warn ProveX could follow suit. The project’s opaque structure—no locked ETH, no clear launch timeline—adds to the uncertainty. One theory is that Heart is recycling ETH from past projects to bootstrap ProveX, potentially positioning himself as a major token holder.

Why Is Richard Heart’s Model Controversial?

Heart’s "sacrifice" model blurs the line between ICOs and Ponzi schemes. Investors send ETH with no guaranteed return, betting solely on Heart’s reputation. Critics argue this creates artificial demand while enriching early participants (and Heart himself). His projects also face legal heat; the SEC sued him in 2023 for allegedly selling unregistered securities via HEX. Though the case settled, it underscores regulatory risks. ProveX’s Tornado Cash links could attract further scrutiny, especially if funds are tied to past investor losses.

What’s Next for ProveX and Its Investors?

With the sacrifice phase ending, all eyes are on ProveX’s next move. Will it deliver a functional DEX, or is this another "pump-and-dump"? Key dates to watch:

• January 8, 2026: Sacrifice deadline (6.25% bonus rate expires).
• Post-deadline: Token distribution based on sacrifice points.

Data from CoinMarketCap shows PulseChain’s tokens (like HEX) remain highly volatile, a cautionary tale for ProveX backers. Meanwhile, TradingView charts reveal ETH’s price fluctuations could impact ProveX’s valuation. Investors should tread carefully—this isn’t Heart’s first rodeo, and past performance isn’t reassuring.

FAQs

Is ProveX a scam?

While not definitively a scam, ProveX carries high risk due to its unproven model, Tornado Cash links, and Heart’s controversial track record. Always DYOR (do your own research).

Can I still participate in ProveX’s sacrifice phase?

As of January 8, 2026, the phase is ending soon. Check ProveX’s official channels for updates, but remember: sacrificing ETH offers no guarantees.

How does Tornado Cash work?

It’s a crypto mixer that obscures transaction histories by pooling funds. The U.S. banned it in 2022 for aiding money laundering, but it remains accessible on decentralized networks.