Dear Clients,

We have received your claims and have begun processing them. We have also received a lot of information about the activities of 3Kay and Lyra. Many of the texts are in Korean, so we sent them to be translated.

3Key and Lyra business model

Proposed investment opportunity was being marketed by the organizers and promoters via a web-based platform. They have stated that the investment guarantees a return rate of 72% per annum to the investors. Our clients have entered into agreements with the company, which have explicitly outlined the aforementioned return rate.

3 Key Technological Limited has been registered on September 22nd, 2020 in the Republic of Seychelles under registration number 223553. The cost associated with registering the company in Seychelles is 350 USD and opening a bank account 99 USD. It is important to note that the Republic of Seychelles has relatively weak financial regulations and investor protection measures in place. This, combined with the location of registration, raises concerns regarding the legitimacy and integrity of the company’s operations and intentions.

The company Lyra Labs Limited was registered in London on December 24th, 2021, at Chase business center 39-41 under registration number m22130517.

Exit Strategy

DefnedMe lawyers in cooperation with prominent journalists from the United Kingdom did background checks and business model analysis of 3Key.This was especially relevant as 3Key was supposed to sign a deal with Manchester City football club and were prevented by our law firm. This sponsorship deal with one of the best known and household names in football was supposed to legitimize 3Key operations and entice new investors to join. After communicating with our office and having been provided the information Manchester City did not have access to, they decided to reject the deal offered by 3Key. This took place in May of 2022.

This is all an uncanny echo of 3Key, whose press release for its Man City tie-up named four staff, none of whom seemed to exist. When Man City tried to get in touch with the company to get to the bottom of the situation, 3Keywould not provide a phone number, instead preferring to communicate by email, with someone identifying himself as “Oliver Chen” giving brief, unhelpful responses. I was not able to verify if Chen existed or if any of his claims about the business were accurate. Promoters who are pushing 3Key in Europe are German nationals who positioned themselves as working for the scheme’s leader, a man called Max Tan. (believed he may also have been an actor.) The company wouldn’t provide 3Key’s address, company registration details or even their telephone number.

Lyra project ( notified their investors on 19 November 2022 that they were experiencing cash flow problems. After the announcement was published, the investors could no longer access their accounts on the Lyra platform. Some evidence indicates that this could be a possible exit strategy to cover up fraudulent activities orchestrated by the same individuals involved in both cases (Lyra and 3Key).

The 3Kay and Lyra project in Europe was shut down by our action with colleagues from the Guardian media outlet at the beginning of 2022. Unfortunately, in South Korea, this project was promoted and it managed to gather and deceive a large number of investors.

Legal Analysis

As legal counsel, it is our belief that the promoters and directors of the Lyra project have engaged in fraudulent activity through their deceitful representation of a 72% annual return on investment. Our investigation has revealed that the project was not operational but rather a fabrication utilized for the purpose of deception.

We are currently in the process of gathering evidence to support this claim and attempting to negotiate a resolution for the recovery of funds on behalf of our clients. If such efforts are unsuccessful, we will take legal action against the responsible parties and seek the seizure of their assets, with the ultimate goal of returning said assets to the affected investors following the conclusion of criminal proceedings.

Kind Regards,

Zoran Miljakovic

Attorney at Law