{"id":16225,"date":"2018-07-22T13:42:13","date_gmt":"2018-07-22T12:42:13","guid":{"rendered":"https:\/\/ethereumworldnews.com\/?p=16225"},"modified":"2018-07-22T13:42:13","modified_gmt":"2018-07-22T12:42:13","slug":"south-korean-group-to-launch-ico-from-disputed-sunken-treasure-haul","status":"publish","type":"post","link":"https:\/\/ethereumworldnews.com\/south-korean-group-to-launch-ico-from-disputed-sunken-treasure-haul\/","title":{"rendered":"South Korean Group to Launch ICO from Disputed Sunken Treasure Haul"},"content":{"rendered":"
As bizarre as it sounds a recently salvaged sunken treasure cache worth in excess of $130 billion is to be the basis of an initial coin offering from South Korean company Shinil Group.<\/p>\n
According to Reuters<\/a> the recently formed Shinil Group claims to have discovered the wreck of the Dmitrii Donskoi<\/em>, a Russian armored cruiser built in the 1880s. The salvage rights are still being contested however the firm maintains that it is the \u201conly entity in the world\u201d to have discovered the ship which is reportedly holding a gold treasure cache valued at 150 trillion won.<\/p>\n Disputing the claim is the government managed Korea Institute of Ocean Science and Technology (KIOST), which told South Korean media that it discovered the wreck in 2003. Also claiming salvage rights is the now-bankrupt Don-Ah Construction Company which claims to have found the wreck in 2001. Further confusion has been added by the Vladivostok\u2019s military history museum on the Pacific Fleet which claims under maritime law the vessel belongs to Russia.<\/p>\n The Shinil Group, comprised of a team of experts from South Korea, Britain, and Canada, plans to release footage of the discovery in a press release next week. Initial photos taken by submersibles confirmed the identity of the wreck which is believed to have gone down with 5,500 boxes of gold bars in addition to 200 tons of gold coins in its holds.<\/p>\n