Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Police Probe Firm Luring Investors in ICO with Wrecked Ship Treasures

Published 08/09/2018, 09:51 AM
Updated 08/09/2018, 11:00 AM
 Police Probe Firm Luring Investors in ICO with Wrecked Ship Treasures

The Seoul Metropolitan Police Agency has raided the offices of Shinil Group, sending 27 investigators from its white-collar crime unit to search its premises on Tuesday on suspicions of possible ICO scam, The Korea Herald reported. The trigger was the launch of an initial coin offering (ICO) that Shinil backed with gold it claimed to have obtained through the discovery of Russian battleship Dmitri Donskoi, which sank in 1905 and was rumored to contain about $116 billion worth of gold.

The investigators searched several Shinil locations and confiscated evidence on suspicion that the company had fabricated the Russian treasure story to attract investors, according to the Korean news agency Yonhap.

T...


This article appeared first on Cryptovest

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.