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Hassan Shittu
Journalist
Hassan Shittu
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Former Australian rugby league player Trent Merrin has been in charge with stealing cryptocurrency worth about $140,000 (about $91,000 USD), following a year-long police investigation into what authorities describe as a fraudulent transfer of digital assets from a victim’s account.
Merrin, 36, who played 250 first-grade games with the St George Illawarra Dragons and 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 a year after police launched an investigation 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 several electronic devices from his home, which will be forensically examined as part of the ongoing investigation.
Merrin, who described himself online as a “cryptocurrency enthusiast” and “dedicated entrepreneur and investor,” has remained active in business since his retirement, launching wellness and recovery ventures, including a cold plunge therapy service.
He was granted conditional bail and is due to appear in Port Kembla Local Court on December 3.
Authorities have not disclosed how the alleged transfer was carried out or whether the stolen crypto was recovered.
Police sources say forensic specialists are analyzing transaction traces and device data to establish the full extent of the scheme.
Legal experts note that the penalties for crypto theft can vary widely, depending on the jurisdiction and the severity of the offense.
In Austria, the basic penalty for fraud is imprisonment up to six months or a fine that does not exceed 360 rates per day.
This applies if the fraud involves the use of false documents/data or if the damage exceeds €5,000 and is punishable by up to three years in prison.
If the damage exceeds €300,000, the punishment is imprisonment from one to ten years.
The arrest adds to a growing global trend of cryptocurrency fraud cases involving former athletes and public figures.
In July, a former Seattle semi-professional rugby player, Shane Donovan Moore, he was sentenced to 30 months in federal prison for running a $900,000 Ponzi scheme that defrauded more than 40 investors in multiple states.
Prosecutors said Moore used investor funds earmarked for a crypto mining business to pay for luxury items and personal expenses.
Elsewhere, the authority in Beijing sentenced five individuals to four years in prison last month for running an illegal exchange scheme that laundered more than $166 million with stablecoins.
The case has been described by regulators as one of China’s biggest crypto prosecutions to date.
In the United States, two MIT-educated brothers are currently on trial in Manhattan for allegedly stealing $25 million worth of Ethereum in seconds through a blockchain manipulation scheme.
The Prosecutors argue that the couple exploited the validation protocols of the Ethereum network, while the defense argues that the act did not constitute fraud, in a case that could test the limits of criminal law in decentralized systems.
These incidents are part of a wider rise in crypto crime as adoption continues to expand around the world.
According to the FBI, the Americans reported $9.3 billion in cryptocurrency fraud losses in 2024an increase of 66% from the previous year. More than 50% of these losses were related to investment scams, with 149,000 complaints filed.
Chainalysis’ mid-year 2025 report indicates that the trend is not slowing down, revealing $2.17 billion already stolen this yearsurpassing the 2024 total.
Industry analysts say many of these cases stem from deceptive tactics, weak digital security and misplaced trust.
