Russian Dmitri shipwreck was real, but no treasures found: Police claim crypto fraud.

The investigation that took place after the South Korean company’s announcement that it has found $190 billion treasure clove in the ship, has concluded with the remains of the hundred-year-old Imperial Russian Navy cruiser Dmitri Donskoi. However, the cruiser does not have any treasured gold cargo inside it. Police officials are now investigating the company for fraud.

Russian shipwreck Dmitri

After the Japanese victory in the battle of Tsushima against the Russian navy, the crew had bustled through the water, according to the Shinil Group. Then the company surface another legend that the cruiser went down with approximately 200 tons of gold, in the form of coins and 5000 boxes of gold bars. They provided photographic evidence for the claimed ‘treasure box’ they discovered.

However, no gold was recovered from the cruiser. The company stated that the gold obtained is worth an approximate of $10 billion instead of its claimed $190 billion. The Russian government is implicitly entitled to half claim of the wreck. Moreover, Shinil also said that Korean infrastructures would be receiving the 10 per cent of its margin of the wreck. It also promised the cryptocurrency buyers that the company would invest another 10 per cent of the potential value of the shipwreck in its new cryptocurrency system, to entice the global buyers. Although the company promised to produce the evidence within the week of its announcement, nothing in that front has been processed even after a month post announcement.

Read more: Korean Authorities Investigate Shipwreck Crypto Scam

Disappearance and investigation

Shinil has now shut down its own website. And it has also removed the video of the wreck that it posted on YouTube. Moreover, even the Shinil Gold Coin cryptocurrency project has vanished in thin air. Seoul Metropolitan Police is, however, investigating the case as a fraud and has consequently raided the Shinil offices. So far, police have interviewed Choi Yong-seek, former chief of Shinil Group, and his predecessor Rhu Sang-mi. Following the announcements and the controversy, had to resign from the CEO position on the company.



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