Millions of Un-Calculable Money Lost In A Treasure Hunting Firm ICO.

Millions of Un-Calculable Money Lost In A Treasure Hunting Firm ICO.

2018-09-04 | Robin Williams

Millions of Un-Calculable Money Lost In A Treasure Hunting Firm ICO.

According to South Korean police, it's been tentatively estimated that around more than 2500 investors that invested around nine billions in Shinil Group which claimed to possess a shipwreck containing gold price US $130 Bln.

As initially reported by a local source ‘Korea Herald’, which stated that the investors additionally poured cash on a token referred as Shinil Gold Coin that the South Korean firm claimed would be backed by the treasure from the part of the Russian war vessel named ‘Dmitrii Donskoi’. The Russian war vessel was run high-and-dry off the South Korean coast by her crew following severe injury throughout combat with the Japanese within the 1904-1905 warfare.

Per the police, the capitalist losses may be larger since the current estimation is based on the traders accounts solely, thus so far.

According to the crime investigation Unit Incharge:

“If we discover a lot of connected accounts or make sure cases within which investors used money, the quantity may go up.”

There is additionally a break that the victim count may fall in step with the investigation police department. Mentioning further it was stated that:

“The range of victims may go down, however, if we have a tendency to exclude cases wherever identical person transferred cash using totally different accounts.”

As per previous reports, plans by the Shinil cluster to conduct an associate ICO were declared in time period once the firm denoted a video on YouTube alleging that had managed to search out the Russian warship’s part containing 200 loads of gold coins and more than 5000 boxes of gold bars. Suspicions like a shot arose primarily as a result of this wasn't the primary alleged discovery of the Russian war vessel.

Investigations were consequently launched and this culminated within the firm executives of the Shinil cluster, The CEO of the company ‘Choi Yong-seok’ is currently being prohibited from leaving out of the country.

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