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

Former Australian rugby player Trent Merrin has been charged with stealing approximately $140,000 (around $91,000 USD) in cryptocurrency. This arrest follows a year-long investigation into alleged deceptive practices that led to the unauthorized transfer of digital assets from a victim's account.

Key Takeaways

Trent Merrin, a retired rugby star, faces charges for stealing approximately $140,000 in cryptocurrency.
The investigation, initiated by police, revealed unauthorized access to a victim's crypto wallet.
Merrin has been granted conditional bail and is scheduled to appear in court on December 3.
The case highlights rising concerns over cryptocurrency-related fraud, with significant losses reported.

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

The Allegations Against Trent Merrin

Trent Merrin, aged 36, is facing serious charges for allegedly stealing cryptocurrency valued at around $140,000 (approximately $91,000 USD). This comes after a thorough year-long police investigation that uncovered what authorities deem to be a fraudulent digital asset transfer from a victim's account.

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

The police inquiry stemmed from reports of theft from a 29-year-old man’s cryptocurrency wallet.

How the Scheme Unfolded

New South Wales Police have stated that Merrin is accused of employing “deceptive means” to illegitimately gain access to the victim's crypto account and facilitate the transfer of funds.

As a part of the investigation process following his arrest, multiple electronic devices were confiscated from his residence. These devices are set to undergo forensic analysis to aid in the ongoing investigation.

Merrin, who refers to himself online as a “cryptocurrency enthusiast” and a “dedicated entrepreneur and investor,” has maintained his business activities post-retirement, launching projects in health and wellness, including a cold plunge therapy service.

He has been granted conditional bail and is due to appear at the Port Kembla Local Court on December 3. So far, authorities have not disclosed the method used for the alleged transfer or whether any of the stolen cryptocurrency has been recovered.

Police sources reveal that forensic experts are currently analyzing transaction pathways and device data to fully understand the nature of this scheme.

Legal experts suggest that consequences for crypto-related theft can vary greatly depending on the location and seriousness of the crime.

In Austria, for instance, the basic punishment for fraud can range up to six months of imprisonment or a fine not exceeding 360 daily rates. If the fraud involves false documents or data and damages exceed €5,000, the penalty can be imprisonment for up to three years; and if damages exceed €300,000, the punishment can range from one to ten years in prison.

A Wider Trend of Cryptocurrency Fraud

Merrin’s arrest reflects a broader global trend of cryptocurrency fraud involving former athletes and prominent individuals. For example, in July, Shane Donovan Moore, a former semi-professional rugby player from Seattle, was sentenced to 30 months in federal prison for orchestrating a $900,000 Ponzi scheme that deceived over 40 investors across multiple states. Prosecutors reported that Moore misused investor funds intended for a crypto mining operation to cover luxury expenses.

In another case, authorities in Beijing sentenced five individuals to prison for up to four years for managing an illegal foreign exchange operation that laundered more than $166 million using stablecoins, marking it as one of China's most substantial crypto-related prosecutions.

In the United States, two MIT-educated brothers are currently on trial for allegedly swindling $25 million in Ethereum in a matter of seconds through manipulating blockchain validation protocols. This case could potentially challenge the boundaries of criminal law within decentralized systems.

These incidents highlight a significant rise in crypto-related crime, correlating with increased global adoption of cryptocurrencies. The FBI reported that Americans experienced $9.3 billion in cryptocurrency fraud losses in 2024, marking a 66% surge from the previous year, with more than half of these losses tied to investment scams, resulting in 149,000 complaints.

According to Chainalysis’ mid-year report for 2025, the trend shows no signs of decreasing, with $2.17 billion already stolen this year, surpassing the total losses reported in 2024. Industry experts attribute many of these fraud cases to deceptive tactics, inadequate digital security, and misplaced trust among users.