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

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Former Australian rugby league participant Trent Merrin has been charged with stealing cryptocurrency value about $140,000 (roughly $91,000 USD), following a year-long police investigation into what authorities describe as a misleading switch of digital belongings from a sufferer’s account.

Merrin, 36, who performed 250 first-grade video games with the St. George Illawarra Dragons and the Penrith Panthers earlier than retiring from the NRL in 2021, was arrested at his Barrack Point dwelling in the Shellharbour area on Tuesday morning.

The arrest comes one 12 months after police launched an inquiry into the alleged theft from a 29-year-old man’s crypto pockets.

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

According to New South Wales Police, Merrin is accused of utilizing “misleading means” to achieve unauthorized entry to the sufferer’s account and switch the funds.

Following his arrest, investigators seized a number of digital units from his dwelling, which will likely be forensically examined as a part of the continued investigation.

Merrin, who has described himself on-line as a “cryptocurrency fanatic” and “devoted entrepreneur and investor,” has remained energetic in enterprise since his retirement, launching ventures in wellness and restoration, together with a chilly plunge remedy service.

He was granted conditional bail and is ready to seem earlier than Port Kembla Local Court on December 3.

Authorities haven’t disclosed how the alleged switch was carried out or whether or not the stolen cryptocurrency has been recovered.

Police sources say forensic specialists are analyzing transaction trails and gadget knowledge to ascertain the complete extent of the scheme.

Legal specialists be aware that the penalties for crypto-related theft can differ extensively, relying on the jurisdiction and severity of the offense.

In Austria, the basic penalty for fraud is imprisonment for as much as six months or a high-quality not exceeding 360 each day charges.

This applies if the fraud includes using false paperwork/knowledge or if the injury exceeds €5,000 and is punishable by imprisonment for as much as three years.

If the injury exceeds €300,000, the punishment is imprisonment from one to 10 years.

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

The arrest provides to a rising international pattern of cryptocurrency-related fraud circumstances involving former athletes and public figures.

In July, a former semi-professional rugby participant from Seattle, Shane Donovan Moore, was sentenced to 30 months in federal prison for working a $900,000 Ponzi scheme that defrauded greater than 40 traders throughout a number of states.

Prosecutors stated Moore used investor funds meant for a crypto mining enterprise to pay for luxurious gadgets and private bills.

Elsewhere, authorities in Beijing sentenced five individuals to up to four years in prison last month for working an unlawful international change scheme that laundered over $166 million utilizing stablecoins.

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

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

Prosecutors argue the pair exploited the Ethereum community’s validation protocols, whereas the protection contends the act didn’t represent fraud, in a case that would check the boundaries of prison regulation in decentralized programs.

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

According to the FBI, Americans reported $9.3 billion in cryptocurrency fraud losses in 2024, a 66% enhance from the earlier 12 months. Over 50% of these losses had been tied to funding scams, with 149,000 complaints filed.

Chainalysis’ mid-year 2025 report signifies the pattern has not slowed, revealing $2.17 billion already stolen this year, surpassing 2024’s complete.

Industry analysts say many of those circumstances stem from misleading techniques, weak digital safety, and misplaced belief.

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

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