A former semi-pro rugby player who promised investors daily returns from a crypto mining business that never existed has been sentenced to two and a half years in federal prison. Shane Donovan Moore operated Quantum Donovan LLC from January 2021 to October 2022, during which he defrauded over 40 investors out of more than $900,000, according to the Department of Justice’s Thursday statement. Moore claimed the funds would be used to purchase crypto mining rigs that would generate 1% daily returns.
But instead of buying mining rigs, he funneled investor money into his personal accounts to fund a lavish lifestyle, such as buying luxury apartments, designer luggage, and electronics, while using some funds to pay earlier investors and keep the Ponzi scam running. “Moore used the newness of cryptocy to commit an age-old fraud—a Ponzi scheme,” Acting U.S. Attorney Teal Luthy Miller said. “He left a path of damaged relationships in his wake.”
The 37-year-old Seattle rugby player targeted fellow rugby players across Washington, Utah, Oregon, Connecticut, and New Jersey, exploiting personal trust to recruit victims who lost more than $387,000 in total. To maintain the illusion, Moore used some of the investor money to purchase crypto and repay small sums to early participants, which helped recruit additional victims, according to the statement.
U.S. District Judge Tana Lin noted during sentencing that Moore “caused emotional and psychological damage to the victims” beyond financial harm. “These scams run on false hope and high returns,” Karan Pujara, founder of the scam defense platform ScamBuzzer, previously told Decrypt. “The only thing that changes is the face of the scammer… and the victim, who is greedy enough to YOLO their life savings.”
Over $2.17 billion in crypto has already been stolen this year, surpassing all of 2024, according to blockchain analysis firm Chainalysis’ 2025 Mid-Year Crypto Crime Report. Moore’s sentencing comes amid a broader crackdown on crypto investment fraud. Just last month, two executives behind OmegaPro were charged with running a $650 million global Ponzi disguised as a forex-crypto platform. Like Moore, they flaunted luxury lifestyles and promised huge returns before blocking withdrawals and vanishing in 2023. The rugby player will serve his 30-month sentence in federal prison. He was also ordered to pay restitution, though authorities did not specify the full repayment plan.
Elon Musk's artificial intelligence company xAI has filed a federal lawsuit challenging Minnesota's landmark law banning AI-powered "nudification" technology, arguing…
Bitcoin climbed toward $65,000 as an unusual shift in traditional financial markets created one of the rarest conditions…
Hyperscale Data has sold 100 Bitcoin to accelerate development of its planned artificial intelligence campus in Michigan, sending shares…
A newly launched memecoin called PIPEDOG ($PIPEDOG) became the latest breakout token on Robinhood Chain, surging more than 140x within…
BNY, the world's largest custodian bank, is bringing one of its core financial businesses onto…
A bipartisan group of U.S. senators has reportedly reached a new compromise on the ethics provisions of…