On the 17th of July, a South Korean Company Shinil Group claimed it has found a Russian cruiser sunken during the Russo-Japanese war. Company representatives said there are billions of pounds gold. As Shinil started to part the booty, and their shareholdings climbed a lot, there’s a high probability that it was a scam.
Today we’ll show you a promising story which has a long history. You’ll remember the facts from the world history, wars that may be forgotten. Russians, Koreans, Japanese, cryptocurrency, tones of gold – all these things are in the story.
Dmitrii Donskoy, the mentioned cruiser, was set afloat in 1883. In 1905 was scuttled as the Battle of Tsushima was lost by Russians. There were rumors that the ship carried tonnes of gold, the amount is said to be 200 tonnes. But historians aren’t sure whether it was convenient to take so much gold when the ships’ company exceeded 500 people and there were 1600 tonnes of coal with them. Russian historians also say that if there was a need for transporting gold to Vladivostok, it would be sent overland.
Gold Split Up
Shinil Group shared their discovery in Twitter, gave photos and videos where it was seen that the ship is there. The amount of gold has changed from $134 billion to $8.6 billion. The first amount is almost two times bigger than the whole South Korean gold reserve. The company didn’t start with salvaging the rights but started to share how they planned to divide the discovery. It was planned to give 10% to the company’s shareholders, 10% to infrastructure projects held by Korea and the half of the whole sum Russians could take.
Korean authorities answered that first of all, Shinil should have given 10% to government, it’s almost $13 billion. The company claimed the main goal of the operation is to weigh up the ship, that’s why they were ready to pay only $100 000. Speaking about Russia’s part – the country isn’t a direct successor of the Russian Empire. Also, the property rights flew out 100 years ago.
Boom and Slowdown on the Stockmarket
Shinil Group was created on the 1st of June in 2019. The company management said they want to buy a dole from the local company Jeil Steel. When the ship was discovered, Jail Steel’s stocks have grown up on 30%. On the following day, the stocks have fallen up to 20%. It’s all because of the Korean authorities. They said that that deal should be, first of all, agreed with them. Also, the dole wasn’t the biggest.
The Reasons This Story is Crypto Scam
After the company announced its discovery, there was a website created. It’s called Donskoi International and its owner is a well-known company. It’s said on the website that it’s the first real international cryptocurrency exchange in the world. The developers promised to share their own crypto, which is provided with the future incomes from Dmitrii Donskoy, with anyone who wants to do the exchange business.
It’s a very strange business that Shinil Group is trying to make. The company’s cryptocurrency is based on the value which can be non-existing. It’s very hard to estimate the value of the coins when it’s not clear whether there is gold. Also, we want to pay attention to the fact than ICOs are banned in South Korea.
The History Repeats
Shinil Group wasn’t the first who tried to earn money on this accident with the Russian cruiser. In 2000 a South Korean real estate developing company Ah Construction announced that Dmitrii Donskoy’s location was revealed. They said that there are 14 tonnes of valuable things on the board. In other words, there were 10% of gold found on Earth throughout history. Companies’ stocks vanished up to more than 40% in a week.
In 2001 this company was bankrupted as nobody wanted to help in weighing up the ship. Also, it was clear that it’s a lie.
Who Can Get this Gold if There are Coins and bars on Board?
It’s not clear who should take this gold – the mentioned company, the Korean government, or Russians should get their part too. But an interesting detail is that there’s one more candidate – The State Korea Institute of Oceanic Research and Technology. The members of this institute claimed that the scientists found this ship at the beginning of 2000-s. They also showed the pictures of the ship made in 2007. If this information isn’t a lie, they’ll get the rights on the gold too.
Which Problems this Story Leads to
If all the noise around Dmitrii Donskoy is a lie, it not only means that all the mentioned companies are scammers. As we’ve mentioned before, ICOs are prohibited in South Korea. So, when such stories happen the government may see more confirmations that cryptocurrency is all about a scam. It also influences in a bad way as Koreans who invested in new crypto got disappointed and lost their money. The cryptocurrency market won’t have any development in such case. Speaking more globally, such stories create a bad image for the whole industry. Bitcoin and other coins critics will only prove that they’re right.
The Present Situation
The South Korean Police have visited Shinil Group’s offices, but nobody still knows what the end of this story is. The government placed a travel ban on all the executives of the company until the results are revealed and clear to anyone. So, we don’t know which future awaits the mentioned company. If all these facts aren’t real, they’ll have big problems as there are investors who wait until the ship is weighed up.
To Sum Up
It seems like this story with Dmitrii Donskoy is just a well-known type of scam. Why so many people tried to find this ship and are sure of the gold? Russian scientists say it’s impossible to take so many valuable things and there’s no reason for it. Just follow this story to get to know what it was all about.
This story was promising and gave many things to think about. But, as you can see, it’s quite clear that it’s a scam.
Recommendations for Our Readers
Every story should teach us something. That’s why we want to advise you on some things:
– Always check the represented information. Find different sources which are reputable and written by scientists and historians.
– In the context of cryptocurrency – never invest to such doubtful ICOs. When the value is still unknown, there’s no need for such a risk. Don’t look for new and doubtful crypto when there are so many of them on the market.
– Try to find the truth in every situation and find those people who can earn on the story.
What do you think about the Korean company? Which goals did it follow? Tell us in the comments below. You can also share some stories popular in your country and devoted to huge cryptocurrency scams.