Famous Olympic Breakdancer’s Brother Faces Crypto Fraud Charges

Rachel “Raygun” Gunn, the Australian Olympic breakdancer who made headlines for her kangaroo-like leaps at the 2024 Olympics, is again in the limelight for a new cause. Her brother, Brendan Gunn, has been charged with cryptocurrency fraud, throwing doubt on the family name. This developing case has brought attention not just to the siblings, but also to the rising problem of bitcoin fraud in Australia.

Brendan Gunn faces accusations for handling money suspected of being related to illegal activities, according to the Australian Securities and Investments Commission (ASIC), which was disclosed on March 5, 2025. The agency believes that Gunn, as director of Mormarkets, a firm that facilitated cryptocurrency conversions, misappropriated cash from unwitting clients.

According to the Australian Securities Commission, “Mr. Gunn dealt with two bank cheques, which contained the proceeds of four investment amounts totaling $181,000 made by three victim investors who deposited funds for conversion to cryptocurrency.”

The claims portray an unsettling picture. According to ASIC, Gunn created bank accounts many times to manage these deposits, even after the institutions closed them owing to fraud fears. The bureau pointed out, “On behalf of Mormarkets, Mr. Gunn sought to open a series of bank accounts on an ongoing basis to receive and transfer deposits, despite bank accounts being repeatedly closed due to concerns about scams and Mr. Gunn being informed of these concerns.” His tenacity has fuelled the case against him.

Brendan Gunn appeared in local court on March 4 and is expected to reappear on April 29. If convicted, he may face a three-year jail sentence, a $37,800 fine, or both. The harshness of the possible penalty emphasizes the gravity of the charges. Meanwhile, Gunn's legal team has remained tight-lipped, with no new remarks to the media as of yet.

This high-profile case comes as ASIC steps up its efforts to prevent Bitcoin fraud. Chair Joe Longo stated that the agency “continues to prioritize scam prevention and detection activity,” indicating a national drive to regulate the burgeoning cryptocurrency business. Despite a significant drop in cryptocurrency crimes last year, ASIC has cautioned that such actions will continue. A previous UK analysis also predicted a 40% increase in crypto crime earnings by 2024, including six-figure losses from “pig butchering” operations.

The public should take this news as a wake-up call. The link between an Olympic athlete and suspected financial misbehavior exemplifies how cryptocurrency fraud can affect anybody, anytime. As Australia focuses more on fraud prevention, incidents like these illustrate the dangers hiding in the digital currency realm.