The purpose is clear. Abusing the merit system
The user probably know nothing about trust system (The abuser will get negative trust from DT members once they see this) or don't know merit transactions are shown publicly.
Most probably, the account has been hacked or sold and now a newbie that know nothing about the forum is using the legendary account.  

Soon both accounts will be banned or at least will get negative trust.

Maybe, theymos should consider decaying unused smerits.