2018-8-1 08:22 |
South Korean authorities are investigating a possible crypto investment scam involving the Seoul-based Shinil Group as the key figure, Korea JoongAng Daily reported July 31.
Shinil Group (Shinil) allegedly promised to pay investors in gold from a sunken Russian shipwreck.
The company claimed that the ship was loaded with 150 trillion won ($131 billion) worth of gold.
To encourage investors to purchase the company’s own cryptocurrency, Shinil allegedly promised to reimburse them with the gold from the ship.
Authorities are also investigating whether the suspects from Shinil group attempted to profit from fluctuations in the share prices of South Korean manufacturer Jeil Industries.
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