#Blockchain Russian Shipwreck and ‘Treasure’ Connected To Crypto Exchange

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A South Korean firm claimed to have actually discovered the wreck of a Russian warship sunk in 1905 with $130 billion worth of gold on board. The cruiser and its treasure are connected to a crypto exchange and token which the firm supposedly assured to distribute to anyone joining the exchange. As the country’s financial watchdog investigates the business’s claims, the company has altered its story.Also read: Yahoo! Japan Validates Entrance Into the Crypto Space Russian Warship Found with Reports of Gold on Board A Russian warship that sank

113 years earlier, the Dmitrii Donskoi, was supposedly discovered off the coast of a South Korean island recently. A Korean company, Shinil Group, declares to be the one who found the wreck. Reuters described: Shinil Marine stated recently it had found the wreck of the Dmitrii Donskoi, a Russian armored cruiser sunk in 1905 after

fighting Japanese warships off South Korea’s Ulleung Island, and that an incredible 150 trillion won($130 billion )of gold was on board.

Russian Shipwreck and 'Treasure' Linked to Crypto Exchange
“Russian Shipwreck and

‘Treasure’ Linked to Crypto Exchange”width= 750 height =422 > The Dmitrii Donskoi.As quickly as the news of the gold coins being found broke, South Korea’s Financial Supervisory Service (FSS) began investigating “whether the business’s claims were part of any share price adjustment or other unlawful trade,” the publication elaborated. In addition, FSS Governor Yoon Suk-heun stated that the agency is examining associated “cryptocurrency concerns.”

Nevertheless, Shinil Group has now backtracked on its claims. The news outlet reported CEO Choe Yong-seok admitting during a news conference in Seoul on Thursday that the company “has not confirmed the presence of any gold.” He was quoted saying, “The [unproven] reports said the Donskoi held 200 tonnes of gold but that would just be 10 trillion won [~$9 billion] at current value … We apologize to the general public for the careless citation.”

Korean Federal Government Examines Crypto Issues

With the group’s initial discovery announcement of the Dmitrii Donskoi, regional media reported a crypto exchange and token associated with the ship. According to Dtoday, Shinil Group stated it will utilize the gold coins discovered on board, when restored, to back a new cryptocurrency they will launch called Shinil Gold Coin. The exchange’s website includes the name and photo of the Dmitrii Donskoi. Reuters detailed:

A website under Shinil Group’s name links the find to a ‘Donskoi International’ cryptocurrency exchange that says it will distribute its virtual currency to anybody who joined the exchange.According to the exchange

‘s roadmap, the coin and its wallet have actually currently been developed. The token is anticipated to be listed on 10 exchanges,”consisting of Shinil Group’s Donskoi international exchange and domestic/overseas global exchanges from September to October 2018,”its website claims.However, Reuters reported Thursday that” Shinil Marine rejected any connection with the cryptocurrency it stated was run by a different company with the very same name, and said it had altered its name. A phone number on the cryptocurrency exchange’s website resulted in the business till recently. “Exactly what do you believe of the discovery of this Russian ship and its link to a crypto exchange? Let usknow in the comments section below.Images courtesy of Shutterstock, Dtoday, and Shinil Group.Need to determine your bitcoin holdings? Inspect our section.The post Russian Shipwreck and’ Treasure ‘Linked to Crypto Exchange appeared initially on

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