cryptodailytrading.com

Billions of Korean Won Wasted Instead: ‘Treasure Ship’ ICO Investors Face Consequences

  • Alex Morris
    📰 News

    2,600 investors who put their money into the infamous ‘Russian treasure ship’ scam have collectively lost about $8 mln. These losses could be substantially bigger


Billions of Korean Won Wasted Instead: ‘Treasure Ship’ ICO Investors Face Consequences
You may also like:

2,600 investors who put their money into the infamous ‘Russian treasure ship’ scam have collectively lost more than eight bln Won (about $8 mln). Korea Herald reports that these losses could be substantially bigger if more trading accounts will be found.     

Back in July, a Seoul-based company Shinil Group reported about discovering the wreck of the Russian armored cruiser with $130 bln worth of gold bars and gold coins. Shortly after that, the company launched its own ICO, issuing a new token dubbed ‘Shinil Gold Coin.’ However, the whole coin offering turned out to be fake, and the CEO of the Korean salvage company is currently in hiding.


Cover image via u.today
Subscribe to U.Today on Facebook, and get involved in all top daily cryptocurrency news, stories and price predictions!
👓 Recommended articles