Former Rugby Player Sentenced to Prison for Defrauding $900,000 through Cryptocurrency Mining Scheme

A new Ponzi scheme involving crypto has come to an end as Shane Donovan Moore, a former semi-professional rugby player, was sentenced to 30 months in federal prison for embezzling $900,000 from over 40 investors.

From early 2021 to late 2022, Moore established Quantum Donovan LLC, promising a daily return of 1% through a non-existent "coin mining system." In reality, he used investors' money to purchase luxury apartments, designer goods, and indulge in extravagant spending. Part of the money was used to pay small interest to early investors, creating an illusion of "super profits" to attract more victims — a classic Ponzi scheme.

Moore primarily defrauded acquaintances in the rugby community across states such as Washington, Utah, Oregon, Connecticut, and New Jersey, exploiting personal trust. According to the court, over $387,000 has "vanished," leaving both financial and emotional losses for many.

This case serves as a warning amid the ongoing crypto fraud epidemic: Over $2.17 billion has been stolen since the beginning of the year, surpassing the entire amount for 2024 (according to Chainalysis). Moore will be required to compensate the victims, but the details of the restitution have not been disclosed.

👉 Lesson: Always be wary of promises of "guaranteed returns," especially in the volatile crypto market! #anhbacong