Trent Merrin, a former Australian rugby league player, was arrested this Tuesday at his Barrack Point home. The New South Wales Police accuse him of an alleged cryptocurrency theft in Australia valued at $140,000 AUD (about $91,000 USD). The arrest follows a full year of police investigation.
Merrin, 36, allegedly used “deceptive means” to access a 29-year-old man’s digital wallet and transfer the funds. Following his arrest, investigators seized multiple electronic devices from his home. This equipment will undergo forensic analysis. Merrin, who described himself as a “cryptocurrency enthusiast” and investor, retired from the NRL in 2021.
The former athlete had entered the business world after his retirement, including cold plunge therapy services. This incident tarnishes his entrepreneurial profile. The case highlights the vulnerability of digital assets and how public figures can become involved in alleged illicit schemes. Merrin was granted conditional bail. He is scheduled to appear in local court in Port Kembla on December 3rd.
Are we facing an epidemic of crypto frauds perpetrated by public figures?
Merrin’s arrest is not an isolated event. It adds to a growing global trend of fraud involving cryptocurrencies and sports figures. For example, Shane Donovan Moore, a former rugby player in Seattle, was sentenced to 30 months in prison for a $900,000 Ponzi scheme. Likewise, in Beijing, five individuals were jailed for laundering $166 million using stablecoins.
Global authorities are intensifying scrutiny. The FBI reported $9.3 billion in losses from crypto fraud in 2024, an alarming 66% increase from the previous year. Furthermore, a 2025 report from Chainalysis indicates the trend has not slowed, with $2.17 billion already stolen this year. Merrin’s case will be closely watched as forensics analyze transaction trails to establish the full scope of the alleged cryptocurrency theft in Australia.
