ComplaintsforStretto Inc

• Initial Complaint

  09/23/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  Like many others commenting here, I am a creditor of Celsius and received a defective claim code. The code for my *** shares worked, but the claim code for my *** shares does not. I've contacted Stretto customer service about this many times, and have left messages at a corporate phone number I found, to no avail.This is a federal court ordered settlement and Stretto yas yet to give me a valid claim code for my BTC shares. Please give me a valid claim code asap.

  Business response

  09/24/2024

  Dear Ms. ********************************** sincerely apologizes for any frustration and inconvenience this situation has caused you. According to our records, you have redeemed one of your two claim codes. The second still-active code's error is coming from ******. Please note, this is an issue between ****** and you as the claimant. We recommend you work with ****** support directly to ensure your account is set up for enabling crypto distributions. 

  
  Here is a ****** support page which may be helpful.

  
  **************************************************************************************************
  
  

  Customer response

  09/24/2024

   Can you please provide the basis for your assertion that the problem lies with Paypal?  You're passing the **** without any attempt to help, which is a problem since Stretto issued the claim code but hasn't responded to any of my non-BBB assisted customer service requests.
  

  I don't believe that the problem lies with ****** because my ****** account received the *** distribution just fine, which you acknowledged in your BBB response when you wrote that one of the claims had distributed. 

  I don't trust this company's word. There's a standing court order and you have the means to distribute the money but your codes don't work. Please give me a code that works so I can receive my BTC distribution. 

   

  I'm not even clear what this company does.
  

  Business response

  09/25/2024

  Dear *** ****,

  Stretto does not create the claim codes and our role is limited to sending out claim codes that are created by Celsius. Celsius personnel are actively working to resolve issues with using claim codes. They have provided troubleshooting tips for ****** in their Knowldegebase: *************************************************************************************************************************************************.
  
  In order to resolve this, please work with either ****** or Celsius by putting in a help ticket at **************************************************************************.

   

  
  

• Initial Complaint

  08/29/2024

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  I have been trying to access my funds through Stretto for over a year. Unfortunately, due to restrictions in the ******************, I am unable to open a ******** account, which is the only method Stretto is offering for distributions. This has left me with no way to claim a significant amount of money that I am entitled to.Despite repeated attempts to resolve this issue over the past 8 months, Stretto has not provided any alternative options for distributing my funds. They have been unresponsive to my concerns, and I am left without a solution. I am deeply concerned that my money is effectively inaccessible due to Stretto's lack of support.I am requesting that Stretto offer an alternative distribution method, such as a check or wire transfer, so that I can finally receive the funds I am owed.

  Business response

  09/03/2024

  Dear Mr. ******** style="font-size: 0.875rem;">

  Thank you for articulating the challenges you have experienced during the Celsius claims distribution process. According to our records, there have been multiple attempts to make a distribution from ******** and that you have been unable to properly set up a ******** account. Celsius has been working directly with ******** to investigate what is preventing you from getting the account set up correctly. If the claim cannot be processed by ********, an alternate distribution method will be provided. Stretto sincerely apologizes for any frustration and inconvenience this situation has caused you.

  Customer response

  09/04/2024

  I have been waiting for 9 months for this problem to be solved. For 9 months I got the same response, "We will look into this".
  Stretto had more than enough time to look into this matter and resolve this issue. Stretto is getting paid to distribute this money in an effective manner, and it's failing it's duties terribly. 
  Along with my complaint here, I have sent a ticket to Stretto, which is still pending any sort of response.
  My claim needs to be distributed immediately anything less than that is unacceptable for this issue to be resolved. After 9 months of unsuccessful support with 0 progress, no company can claim they are on top of things.

  Business response

  09/05/2024

  According to our records, you have acknowledged that ******** is not approving new accounts in ******, and we have received your request to transition from ********, likely to Hyperwallet. The Celsius Team will be in contact with additional information on how to set up the new account for the distribution. Stretto sincerely apologizes for any frustration and inconvenience this situation has caused you. 

  Customer response

  09/12/2024

  HyperWallet is part of ****** and ****** is not available in ****** either. I read HyperWallet stopped working for Turkish citizens more than a year ago.
  
  I would like to receive a wire transfer to my bank as it seems to be the only available option.
  Additionally, I am aware that I can transfer ownership of my claim to another person. Could you please provide guidance on how to transfer ownership of my claim to a new owner who has a ******** account?

  Business response

  10/02/2024

  In the last few days, Ms. ** received this communication regarding her claim:

  The Crypto to USD Conversion Form is being offered to creditors who may be experiencing issues at their current distribution partner due to various reasons. Creditors with an unredeemed claim now have the option to convert their distribution from Cryptocurrency to US dollars (USD). More information about this option can be found in this notice to the Court:  ***********************************************************************************************
  
  USD distributions are made by the following methods, depending on the jurisdiction and claim details of each creditor:
  
  Hyperwallet, which enables sending USD directly to a ****** account (or Venmo if within *****************). More information on Hyperwallet can be found in this Knowledge Base article and in a notice filed on the court docket.
  USD Check sent via **** First Class Mail.
  USD Wire Transfer originating from a US-based bank.
  
  A completed Conversion Form is required in order to convert your Cryptocurrency distribution to USD. THE DEADLINE TO SUBMIT THIS CONVERSION FORM TO BE INCLUDED IN THE FIRST GROUP OF DISTRIBUTION CONVERSIONS IS OCTOBER ******* at 11:59 PM EST.
  
  Please confirm you are receiving our email notifications by checking your Spam folder in your email provider. A list of all the Celsius Distribution related emails can be found here. **************************************************************************************************************************************************************************************'s-valid?
  
  If you have not already received the Conversion Form, please find a link to the form here. ****************************************************************************************

• Initial Complaint

  07/27/2024

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  Like so many affected others, I am a creditor of the Celsius bankruptcy settlement which Stretto is administrating. They sent me 2 redemption codes for ************ on 2/1/24. I am a resident of ****** which did not allow Venmo or ****** to conduct crypto transactions in the state so they didn't work. I informed Stretto of this issue. Their attempted resolution? On 4/12 they said they would send the crypto settlement to ******** account. Once again it is easily understood that Hawaii does not allow ******** to conduct business in the state as well. I informed them of this via email. I emailed them on 4/15/24 that ******** was not possible. No reply from them. Nothing. I have read reports of people in ****** and **** getting their settlement via bank transfer. Why have I not been paid or responded to in over 3 months? I have sent numerous emails and gotten no reply. This company is disorganized, delinquent and criminally negligent in taking care of creditors. How can foreign creditors be paid before Americans when they themselves are an ***************** An absolutely callous and ridiculously bad company.

  Business response

  07/30/2024

  Dear **************,

  Thank you for articulating the challenges you have experienced during the Celsius claims distribution process. Stretto sincerely apologizes for any frustration and inconvenience this situation has caused you. Please submit an inquiry to the link below for assistance. 

  **************************************************************************

  Customer response

  07/30/2024

  This is a canned response. Totally meaningless. They do not even respond to these "inquiries". Useless nonsense.

  Business response

  07/31/2024

  Dear **************, 

  According to our records, you have been assigned a new distribution partner: Hyperwallet, a *************** You will be notified of this change from Celsius and will receive a separate communication from Hyperwallet on next steps. Please note, this is an issue between ****** and you as the claimant.

  Here is a ****** support page which may be helpful.

  **************************************************************************************************

  Customer response

  08/09/2024

  So now this is ******'s fault? ****** is not allowed to do Crypto related business in ******. And you did not know that? You are a law firm who is somehow unaware of Hawaii laws? Really? This is the first reply I've gotten from your company in 5 months despite numerous email requests. The last email I got from you said ******** is the distribution partner. ****, they are not legally allowed to do business in ******. I haven't received anything regarding hyperwallet from any sources whatsoever. So this is hardly an adequate response. Where is my activation link for hyperwallet? 

• Initial Complaint

  04/21/2024

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  My partner invested a substantial amount of money through Celsius a while back (roughly a couple years ago), and has tried to withdraw my money recently (roughly 2 weeks ago) from Stretto. They are managing the distributions through PayPal, but to no avail. I was given my claim codes for the respective cryptocurrencies, and after trying to redeem them, they were rejected because PayPal couldn't service it. Coinbase is another platform that can supposedly get my coins back to me, however the process seems to be never ending. It is a substantial amount ($11,150) and I am being ping ponged around by Stretto, and feel as though my money has been lost (or worse, the company committing acts outside of company policy/legal matter). I am being kept in the dark and would like to see my money returned expeditiously. Stretto has not been receptive to my complaints and have not put forth enough effort to return my money to me, and my money seems to be lost to the ether at this point.

  Business response

  04/29/2024

  Dear ******,

  Thank you for articulating the challenges you have experienced during the Celsius claims distribution process. Please submit an inquiry - **************************************************************************.
  
  Stretto sincerely apologizes for any frustration and inconvenience this situation has caused you.
  

• Initial Complaint

  04/09/2024

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  Hello, my name is ********************* and I am a victim creditor of the Celsius Network bankruptcy, a bankruptcy that is being managed by Stretto. I am one of the creditors who received the claim codes on February 15 to obtain distribution through Paypal/Venmo and self-tracking. The next day we received an email from Stretto telling us that our claim cannot be redeemed by Paypal/Venmo, many people have obtained their distribution but I have been waiting since April 15 without news to recover my money due to the Celsius Network fraud, please wait answers about my case and others

  Business response

  04/17/2024

  Hello ******, 

  Thank you for articulating the challenges you have experienced during the Celsius claims distribution process. Your previous claim code has been invalidated and a new one sent. 

  If you have any other issues, please submit an inquiry **************************************************************************.
  
  Stretto sincerely apologizes for any frustration and inconvenience this situation has caused you.

• Initial Complaint

  04/05/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  I received claim codes to get my bankruptcy distribution via PayPal but the claim failed due to an old address with my phone provider. This wasn't an issue during KYC but only when trying to claim my distribution. I updated my address with my phone provider and PayPal told me to try again but it keeps failing with a new/different error stating to contact Stretto. I did so countless times but all I get back is links to the *** and generic answers. They absolutely don't care or try to resolve the issue on their end and when responding to the same support ticket explaining that none of the provided information is useful or helps in any way to resolve my issue they simply stop responding!

  Business response

  04/17/2024

  Hello ********,

  Thank you for articulating the challenges you have experienced during the Celsius claims distribution process. After reviewing your file, our records indicate that you were successfully transitioned to Coinbase and received your distribution. 

  Stretto sincerely apologizes for any frustration and inconvenience this situation has caused you. 
  
  

  Customer response

  04/17/2024

  
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution would be satisfactory to me.  The complaint has been resolved.
  
  Regards,
  
  *********************************
  
   
  

• Initial Complaint

  04/01/2024

  Complaint Type:

  Order Issues

  Status:

  Resolved

  More info

  Stretto is responsible for managing distributions of funds to those who are entitled to money from the Celcius bankruptcy. I was emailed codes to claim those funds back in early February. Even though all of my information is correct, the codes do not work. I've worked with Paypal on a number of occasions and they have verified the problem is on Stretto's end. After sending an email to their support line, I have gotten ZERO help. All I was given was a useless form email. The phone number for Stretto does not allow you to talk to anyone about distribution problems. It has been nearly 2 months since my codes were issues and I still cannot access my funds. Meanwhile, the value of my funds has gone up and my inability to claim them is money I lose and Stretto gains. This is completely unacceptable. All I would like is for codes that work or for a check to be mailed to me for the amount.

• Initial Complaint

  03/19/2024

  Complaint Type:

  Product Issues

  Status:

  Unresolved

  More info

  It was communicated through an email in December of 2023 that I would be receiving another email from Stretto that would have the instructions for allowing me to claim my assets from the Celsius bankruptcy. They have not sent me a single email since then. I ensured that I am not missing the email in my spam folder or any other folder for that matter. I have reached out several times to try in get in contact with someone, but there has been zero communication from Stretto since then. Since I try to utilize other resources available, I found out that they would be sending these emails at the start of February. It has now been almost 2 months since I was supposed to receive the codes to redeem on Paypal / Venmo. Again, I have reached out again and again and there is no follow up from Stretto. It is sickening to think of how they are arbitrarily withholding a significant amount of money from me.

  Business response

  04/12/2024

  Hello ******,

  Thank you for articulating the challenges you have experienced during the Celsius claims distribution process. After reviewing your file, we have not been able to identify any Celsius accounts associated with your email address and do not have any inquiries from the email address associated with your review. The email address associated with your account is a necessary identifier to help you receive your distribution. Stretto created a new support ticket requesting you email us from your Celsius account email address or request an email address update.
  
  If your Celsius account was under a different email address,please submit an inquiry **************************************************************************.
  
  Stretto sincerely apologizes for any frustration and inconvenience this situation has caused you. 

  Customer response

  04/21/2024

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID# ********, and have determined that my complaint has NOT been resolved because:

  [Your Answer Here]

  My email associated with my Celsius claim is: ******************* 

  It is concerning that you only reply to BBB complaints and not the actual support tickets that you send the link to. I have lost count on the number of tickets I submitted over the past 3 months about my claim.  Please do better. 

   

   

  In order for the BBB to appropriately process your response, you MUST answer the question above.

  
  Sincerely,
  
  ***********************************
  
  
  
  
   
  

  Business response

  04/29/2024

  Hello ******,

  According to our records, an email was sent to ******************* requesting that you email Stretto from your Celsius account email address or request an email address update, if needed. If you need further assistance, please submit an inquiry **************************************************************************.

  Stretto again sincerely apologizes for any frustration and inconvenience this situation has caused you.

  Customer response

  05/05/2024

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID# ********, and have determined that my complaint has NOT been resolved because:

  [Your Answer Here]

  I do not understand your response. Either you are just lying or just sending the same generic response I get each and every single time I try to get in contact with someone, I have not received a single email from Stretto / Celsius this year in regards to my withdrawal. The only emails that I received were the generic 'Stay Alert: Phishing Attempts", "Thank you for the inquiry" emails after I submitted a useless support ticket, and the "Prepare for your Celsius Claim Distribution through PayPal or Venmo" which I got at the end of last year. Secondly, you do not even mention what email address I should send an email to to ask for you to send me my distribution codes. And lastly, just pointing out your contradiction since you do not respond to support tickets, yet in your last sentence saying that I should submit more support tickets. Please, I am begging you, just do better!

   

  In order for the BBB to appropriately process your response, you MUST answer the question above.

  
  Sincerely,
  
  ***********************************
  
  
  
  
   
  

  Business response

  05/13/2024

  Hello ******,

  Communications are currently being made to all eligible creditors through email. The distributions of creditor claims are being made to hundreds of thousands of creditors around the world, and this process will take time to successfully communicate instructions and distribute claims to all eligible creditors. 

  In the event you are a creditor who is not eligible to receive an initial claim distribution, you will not receive claim distribution instructions at this time. Creditors will be notified if and when more information is available. 

  Stretto again sincerely apologizes for any frustration and inconvenience this situation has caused you.

  Customer response

  05/17/2024

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID# ********, and have determined that my complaint has NOT been resolved because:

  [Your Answer Here]

   

  I am sorry but you're are still not answering my question. What is the status of my claim that is associated with my email of ******************** Does being a former employee have any impact? Is there anything that you could please share with me other than the same material that you have been copying pasting for every response for the past 4 months? I know you are in such a tough spot and it must be unbearably difficult for you to work under these conditions. But all I am is asking for is some kind of update to assure me that you did not forget / miss my claim. It is quite literally a life changing amount of money for me so I hope you understand why I would just really appreciate some sort of confirmation that I am on the list of claims yet to be paid. THANK YOU SO MUCH, MUCH LOVE AND RESPECT!

   

   

  In order for the BBB to appropriately process your response, you MUST answer the question above.

  
  Sincerely,
  
  ***********************************
  
  
  
  
   
  

• Initial Complaint

  03/13/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  Stretto is the party handling the Celsius bankruptcy and issued codes to us for Ether and Bitcoin. The *** process on Paypal failed for me with my ethereum code. However my *** on ***** worked fine when I switched to attempt my bitcoin. I've sent stretto this information multiple times but they refuse to help and just send me their FAQ and are even supposedly trying to issue me my money in USD as a lower value than ***** currently holds today. My venmo account worked fine and they are aware of this, but instead of reenabling the code for ether or sending me a new one they don't want to respond or return any calls I've left at their offices on voicemail. I have proof my *** at ***** is working and I got my BTC code and attached the image below. If they don't issue me my code they are costing me probably half of my the current worth of my Ether at todays prices. They need to respond and actually handle my situation instead of trying to lump me in to their incompetent and poor excuse of a plan. I've attached the screenshot of my BTC claimed being claimed a Stretto. So, their emails to me that my claim can't be handled at ***** and blatantly false.

  Customer response

  04/09/2024

  At this time, I have been contacted directly by Stretto, Inc. regarding complaint ID ********, however my complaint has NOT been resolved because:

  After threatening them with a BBB complaint they responded more "directly" but essentially in the same manner.  It is still not true that my claim can't be serviced by Paypal and Venmo the issue solely lies in the fact they have not reissued a code to me.  There were updates they were going to reiussue codes to people, but that was weeks if not over a month ago and I still have no even been issued another code to even try to attempt to recover my money. 

  "Hello,
  
  If you have further questions, we strongly suggest you review the Distributions FAQ and resources related to claim distributions before contacting support, as we continue to update questions and answers on a regular basis.
   FAQ - ***********************************************************************
  
   The latest updates on these Chapter 11 cases are available on cases.stretto.com/celsius or through the Celsius X account (formerly ******** @CelsiusNetwork.
   
  Stay Alert
  Remain vigilant for phishing attempts. *******, the ****************** of ********* Creditors, or their respective advisors will never contact you directly by phone, text message, or social media to request account or personal information absent an order or on-the-record instruction by the Court.
  
  
  Thank you,
  Stretto" 

  Sincerely,

  *******************

  Business response

  04/25/2024

  Hello ****, 

  According to our records, you have been able to redeemed both of your distributions. If you have any other issues, please submit an inquiry **************************************************************************
  
  Stretto sincerely apologizes for any frustration and inconvenience this situation has caused you.
  

  Customer response

  05/01/2024

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me and the matter has been resolved.
  
  

  They correctly stated that I was finally able to retrieve my second payment. 
  
  Sincerely,
  
  *******************
  
  
  
   
  

  
  

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩