The curious case of Mihhail Korb, the Baltic Times, & a dodgy crypto coin

An incident three years ago still raises some questions.

Rewind to 2017.

First, some background. Crypto was booming. Not just Bitcoin, but also a wide range of crypto tokens launched by private companies through so-called ICOs or Initial Coin Offerings.


In December 2017, Estonia seemingly did launch it’s national crypto token project, now seemingly called TokenEST, and invited people around the world to invest. It had a website and was putting out press releases that resulted in some international media coverage. They used statements in their materials that clearly indicated that they were some kind of new Estonian government agency launching Estonia’s national crypto tokens. Here is just one of those articles still online in which it is repeatedly stated that the Estonian government has launched this project.

The Baltic Times.

While the project mostly seemed to be targeted at Russian-speaking audiences through Russian-language content, the Baltic Times ran sponsored articles from TokenEST in order to help target English speakers.



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Adam Rang

Saunapreneur at Previously Chief Evangelist at Estonia’s e-Residency programme.