Key Developments
- •Former NRL player Trent Merrin is accused of stealing AUD $140,000 in cryptocurrency from another individual.
- •Police seized electronic devices from Merrin’s home as part of ongoing forensic investigations.
- •His arrest aligns with Australia’s broader crackdown on crypto fraud and tighter regulation of exchanges and crypto ATMs.
Alleged Unauthorized Access to Crypto Wallet
Former Australian rugby league standout Trent Merrin has been charged with allegedly stealing AUD $140,000 worth of cryptocurrency through deceptive means, following a year-long police investigation. According to reports on November 4, Merrin was arrested and charged with dishonestly obtaining a financial advantage by deception. Investigators claim he accessed a 29-year-old man’s cryptocurrency wallet without permission and transferred the digital assets to himself.
Authorities have not yet revealed how Merrin gained access or the nature of his relationship with the victim. Police seized several electronic devices from his Barrack Point home, which are currently undergoing forensic analysis as part of the ongoing investigation.
Merrin, a former forward known for representing the Kangaroos, the New South Wales Blues, and NRL clubs including St. George Illawarra Dragons and Penrith Panthers, retired from professional play in 2021. On LinkedIn, he describes himself as an entrepreneur specializing in cryptocurrency, blockchain, and wellness ventures.
He has been released on conditional bail and is scheduled to appear before Port Kembla Local Court on December 3.
Australia Deepens Crackdown on Crypto-Related Crime
Merrin’s arrest comes amid Australia’s intensified efforts to curb crypto-linked fraud and financial crime. The Australian Transaction Reports and Analysis Centre (AUSTRAC) has identified cryptocurrency as a high-risk area for money laundering and illicit financial transactions. Over the past year, the agency has conducted compliance sweeps on more than 50 crypto service providers, revoking or suspending their registrations for at least 13 of them.
Stricter Oversight and Licensing Ahead
Regulators are also tightening rules around digital asset platforms. Draft legislation proposes that exchanges and custodians must obtain an Australian Financial Services Licence and could face penalties of up to 10% of their annual turnover for violations. Crypto ATMs have similarly come under scrutiny due to their rising use in scams, prompting the government to grant AUSTRAC new powers to regulate the rapidly growing sector.