Analysts Uncover Wallets Linked to Richard Heart’s New Project Laundering Funds via Tornado Cash
- What Is ProveX, and Why Is It Under Scrutiny?
- How Are Tornado Cash and ProveX Connected?
- ProveX’s Sacrifice Phase: Last Call for ETH?
- Will ProveX Follow PulseX’s Downward Spiral?
- The Bigger Picture: Richard Heart’s ETH Reserves
- What’s Next for ProveX and Investors?
- FAQs
The crypto community is buzzing after blockchain analysts detected suspicious activity tied to Richard Heart’s latest venture, ProveX. Wallets associated with the project appear to be funneling ETH through the controversial mixer Tornado Cash, raising eyebrows about potential fund recycling. With ProveX’s sacrifice phase ending soon, investors are questioning whether this launch will mirror PulseX’s rocky history—or if Heart’s "serial project" strategy has another twist in store. Here’s the full breakdown.
What Is ProveX, and Why Is It Under Scrutiny?
ProveX is the newest brainchild of Richard Heart, the polarizing founder behind HEX, PulseChain, and PulseX. The project promises a perpetual futures DEX and a new token, following Heart’s signature "sacrifice model," where users send ETH to a public address in exchange for future allocations. But this time, on-chain sleuths noticed something fishy: ETH deposits linked to ProveX are being shuffled through Tornado Cash, a mixer notorious for obscuring transaction trails. The timing—just as the sacrifice phase wraps up—has analysts speculating about recycled funds from Heart’s earlier projects.
How Are Tornado Cash and ProveX Connected?
On January 6, 2026, Tornado Cash saw a spike in withdrawals, with multiple transactions of 100 ETH each. These were later consolidated into a single wallet, which subsequently received 128,808 ETH earmarked for ProveX. Analysts traced this back to a November 2025 deposit by Heart himself, who sent 112,987 ETH to Tornado Cash. While mixers anonymize funds, the amounts and transaction patterns suggest a likely link. "This reeks of fund recycling," noted a BTCC analyst. "If Heart is depositing ETH into ProveX’s sacrifice address, he could effectively become a whale in his own project."
ProveX’s Sacrifice Phase: Last Call for ETH?
ProveX’s sacrifice period—a marathon ICO-style event—ends on January 8, 2026, with a final 6.25% bonus. The project pitches this as a way to "farm points" for token allocations, but critics warn it mirrors PulseX’s playbook, where most investors lost 90% of their value post-launch. Heart’s loyalists, however, argue ProveX could revitalize PulseChain’s ecosystem. "New tools, more use cases, and fresh attention," tweeted George Demus (@GeorgeOnPulse), a vocal supporter. Skeptics counter that it’s just another exit opportunity for Heart.
Will ProveX Follow PulseX’s Downward Spiral?
History isn’t on ProveX’s side. PulseX, Heart’s previous DEX venture, collapsed post-launch, leaving bagholders in the dust. Now, with ProveX entering an already saturated perpetual futures market (dominated by platforms like Hyperliquid and BTCC), the odds seem stacked against it. "Heart’s projects thrive on hype, not utility," remarked a TradingView commentator. "ProveX’s ‘innovations’ are just recycled ideas with a fresh coat of paint."
The Bigger Picture: Richard Heart’s ETH Reserves
Heart’s growing ETH stockpile is another red flag. By recycling ETH through Tornado Cash and into ProveX, he could artificially inflate the project’s perceived demand—while securing a lion’s share of tokens. CoinMarketCap data shows HEX and PulseChain tokens remain DEEP in the red, fueling doubts about ProveX’s viability. "This isn’t innovation; it’s financial engineering," said an anonymous DeFi developer.
What’s Next for ProveX and Investors?
With the sacrifice phase ending, all eyes are on ProveX’s official launch. Will it defy the skeptics, or become another cautionary tale? For now, the project’s ties to Tornado Cash and Heart’s track record suggest a rocky road ahead. As always in crypto, DYOR—and maybe keep that ETH handy for less murky opportunities.
FAQs
What is ProveX?
ProveX is a new project by Richard Heart, featuring a perpetual futures DEX and a token launched via a sacrifice model (users send ETH for future allocations).
Why is Tornado Cash involved?
Analysts suspect ETH tied to ProveX was laundered through Tornado Cash to obscure its origin, potentially recycling funds from Heart’s earlier ventures.
How does the sacrifice phase work?
Users send ETH to a public address before January 8, 2026, to "farm points" for token allocations. Latecomers get a 6.25% bonus.
Is ProveX risky?
Given Heart’s history (e.g., PulseX’s 90% drop) and the Tornado Cash links, many analysts advise caution. This article does not constitute investment advice.
