Players have discovered another place to farm those Engram drops in Destiny.
Update - 26/09/2014
If you've been playing Destiny lately you'll realise that once you reach level 20 and you've worked your way through the story so far, you'll need to acquire better gear in order to level up. Well, following on from the loot exploit on the Moon we talked about last week, players have found another area in Old Russia that's supposed to be even more effective.
The video below from Force Strategy Gaming's YouTube channel explains where to find the 'Treasure Cave' that'll bring you your piles of loot. The cave is on Earth, in Old Russia, and the video shows you exactly where you need to travel through to get there. However, once you do arrive there are some rules in order to get the most out of your loot farming.
When you arrive you may see other players in the area, attempting to do the same as you - this is good, it'll help. You will basically be killing waves of enemies that spawn out of a cave - all enemies that spawn from there must be killed before another wave will appear, so that's why it's handy to have at least one other player doing the same as you. You also have to be stood beyond a certain distance from the cave to ensure the maximum enemy spawns.
All the details are given in the video below, so give it a watch and go check out the area to see what loot you'll pick up.
I can attest to this method's authenticity. I went to the area and did exactly as the video said for about 15 minutes - in that time I gathered loads of green loot, a fair few blue Engrams and one purple Engram. You're not guaranteed any specific type of loot, but your chances of gaining something rare are much higher here than anywhere else I've seen.