Important Risk Notice Regarding IQFI / XRPS Staking and Yield Programs

Summary

The “staking with up to 22% annual yields” offering that Mr. Younghoon Kim is currently promoting may run directly afoul of South Korea’s Act on the Regulation of Conducting Fund-Raising Business without Permission and the Virtual Asset User Protection Act. Korean courts have consistently treated crypto staking as a financial-investment activity structurally equivalent to unauthorized fund-raising, and have imposed serious criminal penalties accordingly.

For context: I’m “calvin” on Discord. I hold 50% of the issued shares of Neurostory Co., Ltd. — the Korean entity that runs the LAMB276 project — and over the past two years I personally funded Mr. Younghoon Kim’s living expenses, all outsourcing costs, and the entire operating budget that made the token sale possible.

Mr. Younghoon Kim and I were unable to reach agreement on salary settlement and on how revenue from his SNS activity (which was originally agreed to flow back to the company) should be treated, and a dispute followed. Less than two weeks into that dispute, despite a non-compete agreement we had signed, he took office as CEO of a separate Korean entity, DF717 (confirmed against the corporate registry). From that point on, without any board resolution at Neurostory or consent from me as the 50% shareholder, Mr. Kim has been single-handedly pushing the LAMB276 → IQFI / XRPS swap, new token issuances, and the “staking with annual yields up to 22%” announcement. As the 50% shareholder, I’m pursuing civil claims for damages and the restoration of company assets through the Korean courts.

I want to make this clear: I have not consented to, nor been involved in, the issuance, sale, or operation of IQFI / XRPS. Any responsibility arising from those activities rests with Mr. Younghoon Kim, not with me. With the staking launch reportedly imminent, I’m publishing this notice now — before holders and prospective buyers are exposed to the legal risk described above without knowing about it — both to protect token purchasers and to put my non-involvement clearly on the record.

For what it’s worth, I also hold 50% of the LAMB token’s secret key, so this swap directly affects rights that belong to me. Korean civil litigation of this kind typically runs anywhere from two to five years, so the dispute itself is likely to be a long one. The detailed background follows below.

This is a long notice, but because there’s a real possibility that Mr. Younghoon Kim could have this post taken down or my account suspended, I want to put as much of the underlying fact pattern on the record as I can in a single place.

Why I’m publishing this

This notice is based on facts that can be substantiated by documentary evidence, and it was reviewed by my legal counsel before publication. Both the author of this notice and Mr. Younghoon Kim are Korean nationals — meaning if anything I write here were false or defamatory in intent, I would be the one facing criminal exposure under Korean law. I’m publishing this strictly in my capacity as a 50% shareholder of Neurostory, for the limited purpose of providing information and protecting token holders. Every factual statement below is grounded in records I can verify.

I should also add that I had originally intended to publish this notice through the project’s official channels — including the official LAMB276 X (Twitter) account. As of now, however, I have been removed from every SNS and community channel, including that X account, and the official X account I used to run has had its ownership transferred by Mr. Younghoon Kim to his own personal account. As a result, I can no longer make this matter known through the original official channels, and I am therefore publishing it here, out of necessity — so that the date of this notice and a record of it are preserved.

1. Founding the Company

In 2024, Mr. Younghoon Kim and I co-founded Neurostory. Over the roughly two years that followed, I personally put hundreds of millions of won into running the company and building out the LAMB276 project. That money covered Mr. Kim’s salary (his living expenses), SNS promotion, outsourcing for fundraising and the token sale, marketing, design, development — essentially every line item the project needed to operate.

By far the largest line item was Mr. Younghoon Kim’s salary. By the time my contribution to that line alone had exceeded twice the cap we had originally agreed on, he told me that once the project began generating revenue I would be able to recover up to 250% of my investment — and asked me, on that basis, to keep funding both the project and his salary.

Many of you know Mr. Younghoon Kim’s X account (https://x.com/yhbryankimiq). That account was never his personal channel. It was set up and run as a Neurostory company asset — branding him as the company’s public face — with the operating costs paid by the company. For most of the period he was drawing a salary, the actual work he was doing was running that account, and the company itself was putting money into promoting it. Because of that, the understanding was that any revenue from the page would be settled back into Neurostory. Mr. Kim is now denying that this understanding ever existed.

2. The breakdown

The LAMB token sale did not hit its funding target. To keep LAMB276 going, I proposed that, in months where the project wasn’t running a profit, Mr. Younghoon Kim’s monthly salary be temporarily reduced to around USD 2,500. By that point he had already drawn more than twice the originally agreed amount, but he refused the proposal — and went further, arguing that the revenue from his SNS activity should belong to him personally. As the 50% shareholder I couldn’t agree, our positions hardened, and the project ground to a temporary halt.

3. What happened after the dispute

Less than two weeks after the dispute broke out, on April 23, 2026, Mr. Younghoon Kim took office as the registered CEO of a separate Korean entity called DF717. DF717 is also in the token business, which means his appointment runs directly counter to the non-compete agreement we had signed.

Right after taking that position, Mr. Younghoon Kim began pushing a plan to swap LAMB276 tokens into IQFI / XRPS tokens. That decision was made unilaterally by him — without any board resolution or shareholder meeting at Neurostory, the entity that actually issues and operates LAMB276. For context, I hold 50% of the LAMB token’s secret key, so this swap directly affects rights that belong to me.

4. What I’ve done so far

I have asked Mr. Younghoon Kim to respond to all of this, and have yet to hear back. To this day I haven’t received the 250% return he promised — not even a third of my original principal. LAMB276 is being swapped without authorization from the issuing entity, and I’ve been cut out of every digital tool and social channel the project uses.

That said, my legal standing as a Neurostory shareholder is still intact. On that basis I’m pursuing civil claims against Mr. Younghoon Kim and seeking to restore the company’s assets through the courts. Given how Korean civil litigation usually moves, I’m expecting this to take anywhere from two years on the short end to five years or more.

5. A note to holders and prospective buyers

If you currently hold LAMB tokens, or you’re considering buying into IQFI / XRPS, please look carefully at where these proceedings stand before making any decision.

LAMB itself was originally designed as the token for a real brain healthcare project to be operated together with the DAO. At the point the dispute began, there was no plan in place for anything resembling what IQFI / XRPS now look like. Before deciding on XRPS, I would encourage you to ask Mr. Younghoon Kim directly for (1) a clear explanation of how the annual 22% return is supposed to be generated and whether that return is actually sustainable, and (2) a concrete medium- to long-term business plan for XRPS — and to wait until you’ve seen those answers before committing.

6. Closing

As the person who has taken the largest financial hit here, I find the current situation deeply unfortunate.

As I said at the top, my main reason for writing this is to make clear that staking offerings built around guaranteed returns are prohibited under Korean law — Mr. Younghoon Kim’s own country’s law — and to make it absolutely clear that I am not part of the offering currently being promoted.

Whatever Mr. Younghoon Kim’s response to this notice looks like, the decision is yours. I hope you make the right one for you.

Evidence

The materials below are limited to items that are not themselves in legal dispute: (1) evidence that I hold 50% of the LAMB token’s secret key (a 2-of-2 multisig), and (2) evidence that I am the owner of the LAMB276 Google Workspace.

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