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Moore promised 1% daily returns by exploiting sports connections; it was a classic Ponzi scheme, not a crypto mining operation.
Investor funds were used to purchase luxury apartments, designer bags, and electronics, with no mining rigs involved.
Crypto scams are on the rise, with $2.17 billion lost to date in 2025, reinforcing the need for investor vigilance.
Shane Donovan Moore, a former semi-professional rugby player from Seattle, has been sentenced to 2.5 years in a U.S. federal prison after orchestrating a crypto mining Ponzi scheme that defrauded over 40 investors out of more than $900,000.
Authorities discovered a massive Crypto Ponzi Scheme that promised unrealistic returns to unsuspecting investors. The Crypto Ponzi Scheme operated for over two years before whistleblowers alerted regulators.
Once considered a trusted figure in his sports and social circles, Moore leveraged those relationships to promote a fraudulent business, ultimately using investor funds to bankroll a lavish lifestyle.
In early 2021, Moore began operating Quantum Donovan LLC, a company he claimed was dedicated to cryptocurrency mining. Investors were promised daily returns of 1%, a figure that raised few eyebrows among those unfamiliar with crypto but hinted at unsustainable performance to more seasoned observers.
Federal prosecutors revealed that Moore heavily leaned on his rugby connections, soliciting funds from teammates and fellow athletes across states like Washington, Oregon, Utah, Connecticut, and New Jersey. Over $387,000 of the total fraud amount came from people within his rugby network.
The scheme ran from January 2021 to October 2022, during which Moore used new investments to pay off earlier ones, exhibiting classic Ponzi scheme behavior, while misappropriating large amounts for personal luxuries.
The Shane Moore Fraud headlines are spreading after he was linked to multiple fraudulent crypto ventures. Contrary to his marketing claims, no crypto mining equipment was ever purchased. Investigations revealed that Quantum Donovan LLC played a central role in the misappropriation of investor funds.
Instead, Moore funneled investor funds into personal bank accounts and went on a spending spree. Court records show he acquired luxury apartments, designer luggage, high-end electronics, and other expensive items unrelated to any legitimate business operation.
The illusion of success and steady returns helped Moore maintain investor confidence for nearly two years. But when the flow of new capital began to slow, the cracks in the operation became visible.
Also Read: $190M Crypto Heist: Brazilian Ponzi Scheme Masterminds Get 171 Years Behind Bars
The U.S. Department of Justice charged Moore with fraud in March 2024, culminating in his guilty plea and a 30-month prison sentence in July 2025. During sentencing, U.S. District Judge Tana Lin highlighted not only the financial damage but also the emotional and psychological toll on the victims, many of whom had trusted Moore as a friend.
“Mr. Moore caused emotional and psychological damage to the victims,” said Judge Lin. Federal prosecutors echoed the sentiment, emphasizing the calculated manipulation Moore employed by exploiting personal relationships and the complexities of cryptocurrency.
Alongside his prison sentence, Moore has been ordered to pay restitution, though details of the repayment plan remain undisclosed.
Moore’s conviction is one of many in a growing wave of crypto-related scams. According to market analysts, over $2.17 billion has been stolen through various cryptocurrency fraud schemes in 2025 alone, already exceeding the full-year totals of 2024.
While Moore’s $900,000 scam is alarming, it pales in comparison to others. Just weeks ago, authorities charged executives behind OmegaPro, a so-called forex-crypto platform, for running a $650 million Ponzi scheme.
In that case, like Moore’s, it involved luxury spending, exaggerated returns, and eventual collapse once withdrawal requests exceeded new investments. Victims of the Crypto Mining Scam were lured in with fake dashboards and manipulated earnings reports. With scams on the rise, Crypto Investor Caution is more critical than ever in today’s volatile market.
Also Read: How to Recover Lost or Stolen Crypto After a Scam
Moore’s descent from athlete to fraudster is a sobering reminder of how charisma and familiarity can be weaponized in financial scams, particularly in emerging sectors like cryptocurrency. His use of personal networks and the complex allure of blockchain technology made it easier to deceive unsuspecting investors.
As regulators and law enforcement struggle to keep up with rapidly evolving crypto schemes, one lesson stands out: returns that sound too good to be true often are.
For those looking to invest in crypto or any financial opportunity, thorough due diligence, skepticism of guaranteed returns, and a clear understanding of how the underlying system works are more essential than ever.
1. Who is Shane Donovan Moore?
A former semi-pro rugby player from Seattle who ran a fake crypto mining company called Quantum Donovan LLC.
2. How much money did he steal?
Over 40 investors collectively lost more than $900,000.
3. What was the promised return?
Moore promised investors an unrealistic 1% daily return from crypto mining profits.
4. What is Moore’s sentence?
He pleaded guilty and was sentenced to 30 months in federal prison, plus was ordered to pay restitution.
5. What lessons can investors learn?
Always verify investment claims, avoid guaranteed returns, and understand underlying business models before investing.
