The South Korea company that claimed discovery of $130 billion in Russian gold from a shipwreck appears to be stock and cryptocurrency scams using the stolen location of a shipwreck.
In 2000, Dong-Ah Construction said they were the first to find the wreck and also said there was gold. Dong-Ah produced no gold and did nothing to get the ship.
In 2003, the government-funded Korea Institute of Ocean Science and Technology (KIOST) said they had located the wreck. KIOST tried and failed to raise the wreck.
A consultant to KOIST took the actual location data, geological and marine info to the Shinil Group.
Shinil launched the Shinil Gold Coin cryptocurrency and is using the ship as collateral.
The President of Shinil said he would buy Jeil Steel company. The shares of Jeil Steel went up 30% before there were denials and regulator involvement.
Historians also doubt the original stories of historical gold. The 5000 ton Russian ship would have had 1600 tons of coal to make its journey. It would also have had cannons and weapons. The ship also had its crew and their food and supplies.
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