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A South Korean salvage team, Shinil Group, claims to have discovered the wrecks of Russian Warship that sank off the coast of Ulleungdo Island. Reports further state that it has 200 tons of gold and 150 trillion coins that has a worth of $130 billion altogether.

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The ship was a classic Russian Imperial Navy cruiser Dmitri Donskoi and was discovered almost 1400 feet below the surface of the sea. It is said that the warship first left Baltic Sea back in 1885 and kept on sailing for 20 years until it was doomed in 1905 during the battle of Tsushima.

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According to Shinil Group, the ship was fully equipped with machine guns, anchors and wooden armors along with cannons and long guns on its stern. One-third of the stern and hull of the ship was severely damaged while the upper deck was almost untouched.

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“The body of the ship was severely damaged by shelling, with its stern almost broken, and yet the ship’s deck and sides are well-preserved,” the company said.

The salvage firm was trying to discover it for the past two years until they found the first proof of it in July when experts from Korea, Britain, and Canada brought in the captured footage of the cruise with two manned submarines.

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They are currently working on lifting the ship and they have plans to raise it by fall of this year. The speculations about the quantity of gold present in the ship have not been confirmed yet but the estimated value has turned out to be around $130 billion in the current stage of exploration.

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Fortunately, the ship that went down saving 5,500 boxes of gold bars and coins from Japanese will be in safe hands of Russia yet again. As Shinil Group has promised to hand over half of the treasure to the Russian government. While the other part of it will be invested in promoting tourism on Ulleungdo Island which will include a museum dedicated to the found warship.

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“We will also take steps to clear legal issues with respect to ownership of the wreckage.” a Shinil official told the Korea Times.

Image Source: Instagram/ Jee_eun_

The current worth of the ship is $884,000 while people can also buy from the found treasure. But the twist in the tail is you can only buy the found gold in cryptocurrency. Once salvaged, Shinil Group claims to use the gold coins to back a new cryptocurrency called Shinil Gold Coin.

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