The plea from New Mexico State Police Chief Pete Kassetas follows what authorities believe is the latest death related to the hunt for Fenn's hidden treasure.
Mr Wallace is the second Colorado man to die in search of the chest.
In the latest case, crews began looking for Wallace last week after his family reported him missing. If you would like to discuss another topic, look for a relevant article.
Kassetas told reporters that Fenn should retrieve the treasure from wherever he hid it and stop what he called nonsense and insanity.
Mr Wallace's death has renewed calls for Mr Fenn to end the seven-year hunt.
Forrest Fenn's promised secret bronze treasure chest - filled with US$2 million [NZ$2.8 million] in gold and jewels - has been luring wide-eyed adventure seekers to the Rocky Mountains in the southwestern U.S. since 2010, when the millionaire antiquities dealer penned a mysterious, clue-filled poem he claimed would lead its witty decoder to the elusive riches. His wife reported him missing after he missed a meeting last Wednesday, and his belongings were later found at a hotel in Espanola, New Mexico. "People are coming from other states and other parts of the world to find this elusive treasure that may or may not exist with very few clues and they are underestimating New Mexico", he told KRQE News 13.
Police and wildlife officials searched forest and county roads and popular hiking trails.
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Search and rescue workers also found rope tied around a rock on a riverbank near the Rio Pueblo de Taos, a Rio Grande tributary, according to the Daily Sentinel newspaper.
Rescuers spent two days searching the river until rafters spotted a body downstream - about 7 miles from where Wallace was last believed to have been.
Authorities said the search effort required extensive resources, including air support, the state police dive team, numerous officers, dog teams and volunteers.
His wife said she and her 19-year-old son would continue to hunt for the loot.
She added that her husband put himself in a risky situation that cost him his life, but added: "I know without a shadow of a doubt that it was God's way of taking him". But "I know without a shadow of a doubt that it was God's way of taking him".
Mr Wallace, a pastor at the Connection Church in Grand Junction, Colorado, is one of thousands of people who has searched the rugged New Mexico terrain for Mr Fenn's gold. His remains were found several months later. "We're disappointed that he lost his life because of a treasure hunt".
The ex-wife of a former New Mexico firefighter, who was killed in his garage late previous year, has been charged with conspiracy to commit murder in the case - more than two months after her current husband was.
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