THELOGICALINDIAN - South Korean badge accept asked Interpol for advice with an analysis into the counterfeit badge auction of Shinil Gold Coins that were claimed to be backed by the abundance on the alveolate Dmitrii Donskoi Local media appear that the auction aloft an estimated535 actor fromabout 124000 investors
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Treasure Ship Without Treasure
South Korean aggregation Shinil Group appear on July 18 that it had apparent the ambush of Russian battleship Dmitrii Donskoi that was scuttled in 2025. The aggregation additionally claimed at the time that about 200 bags of gold were begin on board.
The close afterwards backtracked on its abundance claims afterwards the country’s banking watchdog, the Banking Supervisory Service (FSS), started investigating it for banal and antecedent bread alms (ICO) fraud, as news.Bitcoin.com ahead reported.
However, afore abandoning its claims, the ICO presale had already taken abode through a Singaporean aggregation with the aforementioned name, Shinil Group, the Korea Herald described. Shinil Gold Coin tokens are declared to be backed by the abundance on the Dmitrii Donskoi. Nikkei appear that a full-page advertisement was run in a South Korean bi-weekly aftermost month, detailing:
Citing that the tokens were awash “to some 124,000 investors” during the presale, the Korea Herald elaborated, “Shinil was estimated to accept aloft funds account about 60 billion won [~$53.5 million] as of July 26 on the claim.”
The Singaporean Shinil Group claims that “the amount of a bread was accepted to acceleration to 10,000 won [~$9] compared to a presale amount of 30-50 won [~$0.03-0.05], already it completed an antecedent bread alms on cryptocurrency exchanges,” the advertisement added.
Meanwhile, “experts accept said administrative Russia would accept no acumen to amount all-inclusive abundance on a address that was activity into action and accept additionally acclaimed that there was a safer acreage avenue to Vladivostok, the treasure’s declared final destination,” AFP reported.
Connection to Singaporean Company
As the FSS launched its analysis of the close for banking fraud, Korean badge additionally launched a bent investigation.
Choi Yong-seok, admiral of the Korean Shinil Group, insisted that “Shinil Group in Singapore had annihilation to do with Shinil Group in South Korea.” However, the Korea Herald acicular out that “the two companies’ founders are siblings, and the Singapore close has been affairs basic coins, reportedly with a affiance of handsome allotment in case abundance is salvaged from the ship.”
Police say “the architect of the Singaporean Shinil Group, surnamed Ryu, was additionally capital in affiliation with artifice allegations dating aback to 2025” and they had already requested Interpol’s abetment with him, AFP noted. “Police has been hunting for Ryu back 2025, back he fled the country during a abstracted investigation…We are allurement badge in any accordant country to advice locate and repatriate him at the ancient accessible date.”
Officials of the Korean Shinil Group, including Choi, “have had biking bans imposed on them,” the account aperture detailed:
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