Ex-Rugby Star Arrested in Shocking $91,000 Alleged Crypto Theft Scheme

Former Australian rugby league player Trent Merrin has been charged with stealing cryptocurrency worth about $140,000 (roughly $91,000 USD), following a year-long police investigation into what authorities describe as a deceptive transfer of digital assets from a victim’s account.

Merrin, 36, who played 250 first-grade games with the St. George Illawarra Dragons and the Penrith Panthers before retiring from the NRL in 2021, was arrested at his Barrack Point home in the Shellharbour region on Tuesday morning.

The arrest comes one year after police launched an inquiry into the alleged theft from a 29-year-old man’s crypto wallet.

Inside the Crypto Scheme That Landed Ex-Rugby Star Trent Merrin in Court

According to New South Wales Police, Merrin is accused of using “deceptive means” to gain unauthorized access to the victim’s account and transfer the funds.

Following his arrest, investigators seized multiple electronic devices from his home, which will be forensically examined as part of the ongoing investigation.

Merrin, who has described himself online as a “cryptocurrency enthusiast” and “dedicated entrepreneur and investor,” has remained active in business since his retirement, launching ventures in wellness and recovery, including a cold plunge therapy service.

He was granted conditional bail and is set to appear before Port Kembla Local Court on December 3.

Authorities have not disclosed how the alleged transfer was conducted or whether the stolen cryptocurrency has been recovered.

Police sources say forensic specialists are analyzing transaction trails and device data to establish the full extent of the scheme.

Legal experts note that the penalties for crypto-related theft can vary widely, depending on the jurisdiction and severity of the offense.

In Austria, the basic penalty for fraud is imprisonment for up to six months or a fine not exceeding 360 daily rates.

This applies if the fraud involves the use of false documents/data or if the damage exceeds €5,000 and is punishable by imprisonment for up to three years.

If the damage exceeds €300,000, the punishment is imprisonment from one to ten years.

Global Authorities Step Up Enforcement After $9.3 Billion in Crypto Scams Reported in 2024

The arrest adds to a growing global trend of cryptocurrency-related fraud cases involving former athletes and public figures.

In July, a former semi-professional rugby player from Seattle, Shane Donovan Moore, was sentenced to 30 months in federal prison for running a $900,000 Ponzi scheme that defrauded more than 40 investors across several states.

Prosecutors said Moore used investor funds meant for a crypto mining business to pay for luxury items and personal expenses.

Elsewhere, authorities in Beijing sentenced five individuals to up to four years in prison last month for running an illegal foreign exchange scheme that laundered over $166 million using stablecoins.

The case was described by regulators as one of China’s largest crypto-related prosecutions to date.

In the U.S., two brothers educated at MIT are currently standing trial in Manhattan for allegedly stealing $25 million worth of Ethereum in seconds through a blockchain manipulation scheme.

Prosecutors argue the pair exploited the Ethereum network’s validation protocols, while the defense contends the act did not constitute fraud, in a case that could test the limits of criminal law in decentralized systems.

These incidents form part of a wider surge in crypto-related crime, as adoption continues to expand globally.

According to the FBI, Americans reported $9.3 billion in cryptocurrency fraud losses in 2024, a 66% increase from the previous year. Over 50% of those losses were tied to investment scams, with 149,000 complaints filed.

Chainalysis’ mid-year 2025 report indicates the trend has not slowed, revealing $2.17 billion already stolen this year, surpassing 2024’s total.

Industry analysts say many of these cases stem from deceptive tactics, weak digital security, and misplaced trust.

The post Ex-Rugby Star Arrested in Shocking $91,000 Alleged Crypto Theft Scheme appeared first on Cryptonews.