Shinil Group claimed they discovered the wreck of Russian warship Dimitry Donskoi on Sunday and touted rumors that there could be 200 tons of gold coins and 3200 tons of gold bars.
Others claim Shinil group stole the Russian shipwreck location. The Shinil Group appears to be trying to profit via stock and cryptocurrency scams.
Stolen location of the Russian Ship Wreck
In 2000, Dong-Ah Construction claimed to have been the first to find the wreck and also said there was gold. They also had surge in their stock price but they never recovered any gold and did not attempt to recover the wreck.
In 2003, the government-funded Korea Institute of Ocean Science and Technology (KIOST) said they had located the wreck. KIOST tried and failed to have the wreck raised.
A consultant to KOIST took the actual location data, geological and marine info to the Shinil Group.
Shinil gold com
Shinil is an unlisted company founded on June 1 so people cannot buy shares. The president of Shinil said he would buy Jeil Steel. Jeil’s stock prices rose by 30% as speculators thought Jeil would be involved in recovery the ship or the gold.
Shinil launched the >Shinil Gold Coin cryptocurrency and is using the ship as collateral. The Russian gold ship cryptocurrency promises users 25 coins for joining the scheme and an additional 5 coins for each new investor they sign-up.
More doubts about the history of the gold
The 113 year old ship had a displacement of over 5000 tons but the ship would have had 1500 tons in coal, cannons, ammo and other weapons. The ship would have held the ships crew, food and water. This would have left a lot less room for any gold.
The ship was fighting Japanese ships. It seems that a ship with that much gold would have had other escorts and avoided combat.
Russia had a railroad which they could have used to safely transport gold.