ComplaintsforAbra

• Initial Complaint

  10/24/2021

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  I've tried numerous attempts since May 2021 until Oct 2021 to transfer my ****************************** but everytime I attempt to exchange funds I recieve a prompt saying "Sorry the exchange between **************** is temporarily unavailable." I contacted customer service and they said that exchanges were temporarily suspended since 15Jan21. So I've been unable to exchange funds for about 6 months now. Another problem I've been having is withdrawing my ******** from my **** account to my ******* account. I contacted **** in May 2021 and they said unfortunately they can only link ******** bank accounts to ****. I explained to them that I'm ******** overseas in ***** and I need to link my ******* account so I can remove all my funds from ****. The customer service said they made changes to my account so I could link my US account to ****. So I've been unable to widthdrawl my funds from **** for 6 months now. Im highly unsatisfied with this company and all I ask for is a refund.

  Business response

  07/14/2022

  Business Response /* (1000, 5, 2021/11/04) */ Mr.***** reached out to Abra Support regarding the *** he currently holds in app. As Mr.***** is a ** user holding *** Abra support explained, Abra has suspended all *** trading for ** customers on Jan 15th, 2021. This was due to the SEC action against ******************************************************************** Until further notice, customers can continue to have access to their *** wallet on Abra. Additionally, any withdrawals from the *** wallet would also continue to be operational. Mr.***** can withdraw the *** held in app to an external *** address at any time. As Mr.***** is in the ******** and provided a ** address, his wallet is set up to deposit or withdrawal from a ** bank. Mr.*****'s wallet can withdrawal to a ** bank, if for some reason he cannot he will need to reachout to Abra Support to report what issue he may be running into. At this time, I do not see an email has been sent to Abra Support from ​Mr.***** reporting an issue with the bank since this change was made. Additionally, as the Abra app is a cryptocurrency wallet Mr.***** can withdrawal these funds to an external wallet at any time. This case is considered closed.

• Initial Complaint

  10/23/2021

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  I reached out to Abra technical support about a recent airdrop of #***, since the token is in the same family of the flare token that they said they would release i just wanted to ensure they where going to release the *** token. I sent my question to Abra Technical support and got a response from ***. Currently Abra corruption received our *** and is able to profit off the backs of the very investors that they want on their platform. I uploaded that they did receive the *** but are with holding it for them self. I do like the ABRA wallet it is a great app and wish I didn't have to got to the BBB but I attempted to reach out to them but don't receive any help. I'm not a super rich guy, I'm just trying to make my money work for me. I understand the red tape with the airdrop but if you do this to *** **** you do this to our Flare, they are the same platform and you guys claimed amd received it in your *** wallet. Thanks I hope this is resolved quickly.

  Business response

  07/13/2022

  Business Response /* (1000, 5, 2021/11/04) */ Although we (Abra) offer the opportunity for our users to invest in multiple coins, Abra may not support coins received from forks or air drops. This means, if there is a fork or airdrop, Abra may not know if we (Abra) is going to support that airdrop/fork until the event occurs. Abra suggests if a user knows of another wallet that will be supporting the event in question, that user may want to withdraw their funds before the fork/air drop occurs and deposit into that wallet to ensure they will receive those coins. If Abra does support a fork or airdrop, we will send an email to the users who are already holding the coins, the closer it gets to the event. In this case, Abra did not support the *** airdrop, nor did Abra state it would be supported. When *********** reached out to Abra support, the above explanation was provided to him on more than one occasion. As Abra is not currently supporting the *** airdrop, those coins cannot be distributed to his wallet. If this changes in the future, Abra will be sure to notify our users of this change. This case is considered closed.

• Initial Complaint

  09/22/2021

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  I've been using the Abra app for a couple of years now, and this year they say that they have to do KYC and that for them to verify my identity, they require their users to provide the following personal info/data: 1. photo ID (driver's license, passport, etc) 2. Social Security Number 3. a selfie I am not comfortable giving them all this personal info. All this personal info can be used to steal my identity. This company does not even have a phone number nor physical address/office location on their website (www.abra.com). They are not allowing use of the app and access to my holdings unless I provide all these personal info. They have not replied back to me and have ignored my multiple attempts to communicate with them. The only way I can communicate with them is via their support email. I have emailed them several times over the past 3 weeks and there's been no response from them. Can you contact them for me and let them know where I stand on this issue?

  Business response

  11/23/2021

  Business Response /* (1000, 8, 2021/10/26) */ Mr. ******* reached out to our support team explaining why he was unwilling to supply updated KYC information. Our team replied to Mr. *******'s emails multiple times explaining why we are requesting this information and still Mr. ******* did not wish to provide the information requested. Abra notified all users recording the KYC requirements prior to the hold that went in affect in May 2021. If Mr. ******* had an updated version of the app Mr. ******* would have also seen these messages in app as well. If Mr. ******* did not wish to provide the information we are requesting he could have withdrawn his funds at that time and discontinued using Abra. As Mr. ******* has yet to provide the documents requested to continue using the Abra app we can not longer continue services. Mr. ******* has been notified he will need to withdrawal all of his funds to an external wallet by Friday, October 29th at 3 PM PST as we will no longer be able to provide our services to Mr. ******* moving forward. This case will remain open until Friday, October 29th at 3 PM PST. Consumer Response /* (3000, 10, 2021/11/01) */ (The consumer indicated he/she DID NOT accept the response from the business.) The time window they gave for me to withdraw my funds was too short. They only gave me until Friday, October 29th at 3 PM PST which was only 3 days from their email. I was very busy all week with business as well as attending a conference, and just got their message on Sunday October 31st. I responded to their email and requested that they extend 3-4 days but they haven't responded. Business Response /* (4000, 12, 2021/11/08) */ *** ******* reached out to our support team and the time frame was extended to Monday November 8th. However, the time line will be pushed out to Friday, November 12th as *** ******* needs to update his device in order to withdrawal his funds. Our team has notified *** ******* of this extension.

• Initial Complaint

  09/07/2021

  Complaint Type:

  Product Issues

  Status:

  Resolved

  More info

  On September 2nd and 3rd of 2021 I made a 2 bank wire transfers from my Abra account to my bank. They did not show up. On September 7th i was informed by my bank that those two wires were sent back due to incorrect information. They were sent back on september 3rd 2021 and should have been recieved back into my account. They Have not refunded my Abra account and support said they sent to their bank team. No response since. The amounts are substantial and I need my money. They are holding XXXXXX dollars of my money. Its needs to be refunded immediately. They need telephone support as they are not helping via email effectively or responsibly.

  Business response

  10/20/2021

  Consumer Response /* (2000, 9, 2021/09/28) */ Issue has been resolved.

• Initial Complaint

  09/02/2021

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  Hi. I have an account with ABRA Exchange with about ******* in digital assets. On August 6, 2021, my account was hacked and about ****** was stolen. In less than 24 hours, I informed ABRA right away, hoping they would hold/freeze/protect my account. Instead, they were non-responsive. In the next 3-5 days, the remaining assets in my account would eventually get wiped out... ZERO balance left. Was this an inside job? I have a very detailed timeline of the events surrounding the fraudulent activities (please see attached pdf doc). On August 13, 2021, an ABRA rep named ****** responded to my refund request and informed my that the issue was escalated for further investigation. I have not received any updates on that investigation despite multiple follow-up emails. On August 26, 2021, I sent a second follow up email. Please see attached pdf doc named ABRA follow-up emails. They've ignored my requests and emails. Please help me get my money back from this fraudulent exchange. Thanks.

  Business response

  02/23/2022

  Business Response /* (1000, 10, 2021/09/30) */ ************* reached out and reported his wallet had been hacked and requested a refund of the funds that were stolen. Our team explained the transactions on the blockchain are irreversible by default and that there is no way to reverse those transactions. The Abra team explained, in regards to the "hack", for this to occur a "hacker" would have access to *************'s phone, sim card, or Recovery Phrase. As the phone number on the wallet was changed (the phone number changed from ************ to ************* and then to ************) this would indicate the "hacker/scammer" had access to *************** recovery phase. ABRA never has access to a user's recovery phrase at any time. If ************* provided their recovery phase to anyone or in the event a "hacker" stole it from *************, that is giving a "hacker" full access to ************* wallet, from anywhere. Although we understand *************** frustration in regards to a loss such as this, these funds cannot be returned to ************* as transactions on the blockchain are irreversible by default. Additionally, Abra does not offer insurance in the event of a hack, scam or stolen funds. Abra terms of service: https://www.abra.com/terms-of-service-us/ However, as ************* mentioned he emailed a scammer by the name of *****, we recommended filing an IC3 with the FBI as ************* has all of the correspondents with this scammer "*****": https://www.ic3.gov/Home/FileComplaint Along with the addresses, the funds were withdrawn to and they may be able to track down the hacker/scammer: ********************************************************************************************************************************************************************************************************************************************************************************************* Any other information the FBI requests we'd be happy to provide. This case is considered closed. Consumer Response /* (3000, 12, 2021/10/06) */ (The consumer indicated he/she DID NOT accept the response from the business.) I definitely do not accept ABRA's response. Please see email thread below (also attached). ABRA is not taking responsibility for the gross negligence on their part. They keep reiterating that transactions on the blockchain are irreversible. But I informed them of the initial incident when I still had 90% of my funds left. If transactions are irreversible, they should have protected or froze my account after I first found out it was hacked. I asked ABRA to secure my account before the hacker took out the remaining funds in my account. They didn't protect my account. They ignored my emails. When they finally responded, I was left with ZERO balance in my account. This was an inside job. No 'hacker' has access to my account - phone, SIM card, Recovery Phrase. I did not have it written online or on my phone. There was no way anyone could have accessed the Recovery Phrase... I am 100% sure! Also, my phone number hasn't changed. I've had the same number for the last 20 years or so. Why is ABRA giving me the runaround? ************************ Sent: Tuesday, October 5, 2021 9:34 AM To: Abra ********************; Abra ********************; *********************; ************************ Cc: ********************************************************************************************************************************************************************************************************* Subject: RE: Abra Re: Account Hacked-EMERGENCY https://www.theblockcrypto.com/linked/119310/coinbase-reports-at-least-6000-user-accounts-compromised-through-exploited-authentication-bug ************************************************************************* Please read the articles on these links on how to treat your customers when their accounts get hacked. You don't leave them hanging with ZERO balance in their account essentially wiping out their entire savings!!! From the article: Coinbase pledged to deposit funds into affected accounts equal to the amount lost during the exploit, as well as to provide free phone support and credit monitoring for victims. The exchange also stated that it will work with law enforcement and launch internal investigations to find the culprits responsible for the incident. From the second article: Some good news from the victims: Coinbase has already started to reimburse some customers and promises that all customers will receive the full value of what was lost. Victims will receive free credit monitoring. Along with working with law enforcement in its investigation, Coinbase is also launching an internal investigation into what happened. What's ABRA going to do??? You've done NOTHING so far... zilch, zero, nada! I already provided you with the detailed timeline. Do something about it!!! Or you will be investigated for fraud!!! From: ******************************* Sent: Thursday, September 30, 2021 12:05 AM To: **************************************************** Subject: Abra Re: Account Hacked-EMERGENCY CAUTION: This email originated from outside of the Federal Government. DO NOT click links or open attachments unless you recognize and/or trust the sender. Contact the USCIS Security Operations Center with questions or click the "Report Suspicious Email" button to report it as a phishing attempt. ##- Please type your reply above this line -## Your request ******** has been updated. To add additional comments, reply to this email. *** (Abra) Sep 30, 2021, 12:04 AM PDT Hi ****** Thanks for your patience and we're sorry to hear this happened to you. However, transactions on the blockchain are irreversible by default. Although you have reported, you did not send these funds to an external wallet, there is no way to reverse that transaction. In regards to the "hack", for this to occur a "hacker" would have access to your phone, your sim card, your Recovery Phrase. Our team stated only emails coming from ************************ were legitimate emails from our team all others were not and, thus *************************, is not from us and a ******* does not work for Abra. As the phone number was changed (the phone number changed from ************ to ************* and then to ************) this would indicate the "hacker/scammer" had access to your recovery phase. Either they hacked your device and gained access to your recovery phrase through your phone or you provided your recovery phase to them. ABRA never has access to a user's recovery phrase. If you provided your recovery phase to anyone or in the event a "hacker" stole it from your phone, that is giving them full access to your wallet, from anywhere. Unfortunately, these funds cannot be returned to your wallet Abra does not offer insurance in the event of a hack, scam or stolen funds. Terms of service: Risk Disclosure.Your Abra Interest Account is not a checking or savings account, and it is not covered by insurance against losses. In certain jurisdictions, cryptocurrency is not legal tender and is not backed by the government. Accounts and value balances are not subject to Federal Deposit Insurance Corporation or Securities Investor Protection Corporation protections. The nature of cryptocurrency may lead to an increased risk of fraud or cyber-attack, including rollback attacks or blockchain reorganizations. The nature of cryptocurrency means that any technological difficulties experienced by Abra may prevent the access or use of a customer's cryptocurrency. In light of these risks, you should carefully consider whether holding cryptocurrency in an Abra account is suitable. Terms of service:Wallet Recovery Phrase.You agree that you are solely responsible for your Abra Wallet Recovery Phrase and shall take the necessary precautions to ensure its safekeeping. The Wallet Recovery Phrase allows you, the sole owner of your Abra Wallet's private key, to recover your Abra Wallet in case your phone becomes unavailable for whatever reason including, but not limited to, loss, theft, device damage or failure, forgotten PIN, or any other circumstance that would prohibit you from accessing the Abra Wallet. In order to safely keep your Wallet Recovery Phrase, you shall make copies of your Wallet Recovery Phrase and shall securely store all copies. PROPER STORAGE OF YOUR WALLET RECOVERY PHRASE IS VITAL TO PREVENT RISK OF DAMAGE FROM NATURAL DISASTERS OR RISK OF UNAUTHORIZED ACCESS TO YOUR FUNDS. ANY FAILURE TO MAKE AND PROTECT YOUR ABRA WALLET RECOVERY PHRASE WILL LEAD TO TOTAL LOSS OF THE FUNDS ASSOCIATED WITH YOUR ABRA WALLET PRIVATE KEY. Although we understand your frustration in regards to a loss such as this, I'm not sure how DHS (U.S. federal executive department responsible for public security, roughly comparable to the interior or home ministries of other countries), ICE (The U.S. Immigration and Customs Enforcement is a federal law enforcement agency under the U.S. Department of Homeland Security)or SEC (The U.S. Securities and Exchange Commission: The primary purpose of the SEC is to enforce the law against market manipulation.) would fit into this event a hack/scam. Any other information the FBI requests we'd be happy to provide. Best regards, *** __________________________________________ Abra is committed to preventing fraudulent emails. Abra will never ask for your recovery phrase, please be sure to never share it with anyone. Emails from Abra will come from ************************* We will reply to your message within 24 hours. In the meantime, please feel free to browse our Frequently Asked Questions: https://support.abra.com/hc/en-us. If you have not received a response from our team within this time frame the response may have gone to your "SPAM/JUNK" folder. __________________________________________ ****************** Sep 24, 2021, 5:11 PM PDT Hi ********************************************************************** YOU are not sorry. ABRA doesn't want to accept responsibility for the gross negligence on their part. Even if my account was 'hacked,' I reported it right away. Only a partial amount was initially stolen. ABRA did nothing to protect the remaining 90% of my funds. I kept asking ABRA to secure my account. Nothing was done until the balance was ZERO. ABRA didn't freeze my account. I had nothing left when ABRA finally responded. No 'hacker' has access to my account - phone, SIM card, Recovery Phrase. I did not have it written online or on my phone. There was no way anyone could have accessed the Recovery Phrase... I am 100% sure. I suspect this was an inside job. Why did ABRA not freeze my account until it was secure for me to withdraw? I sent multiple emails that were ignored. ABRA waited until I was completely wiped out to respond to my very serious concerns. By then, it was obviously too late. Also, please quit feeding incorrect information. My phone number hasn't changed. I've had Business Response /* (4000, 19, 2021/10/26) */ Our response remains the same as the facts remain the same in this case. ************* reached out and reported his wallet had been hacked and requested a refund of the funds that were stolen. Our team explained the transactions on the blockchain are irreversible by default and that there is no way to reverse those transactions. The Abra team explained, in regards to the "hack", for this to occur a "hacker" would have access to *************'s phone, sim card, or Recovery Phrase. As the phone number on the wallet was changed (the phone number changed from ******************************************************) this would indicate the "hacker/scammer" had access to *************** recovery phase. ABRA never has access to a user's recovery phrase at any time. If ************* provided their recovery phase to anyone or in the event a "hacker" stole it from *************, that is giving a "hacker" full access to ************* wallet, from anywhere. Although we understand *************'s frustration in regards to a loss such as this, these funds cannot be returned to ************* as transactions on the blockchain are irreversible by default. Additionally, Abra does not offer insurance in the event of a hack, scam or stolen funds. Abra terms of service: https://www.abra.com/terms-of-service-us/ However, as ************* mentioned he emailed a scammer by the name of *****, we recommended filing an IC3 with the FBI as ************* has all of the correspondents with this scammer "*****": https://www.ic3.gov/Home/FileComplaint Along with the addresses, the funds were withdrawn to and they may be able to track down the hacker/scammer: ********************************************************************************************************************************************************************************************************************************************************************************************** Any other information the FBI requests we'd be happy to provide. This case is considered closed. Consumer Response /* (4200, 24, 2021/11/12) */ ***Document Attached*** ***************** Rebuttal Against ABRA's Gross NEGLIGENCE: ABRA Our response remains the same as the facts remain the same in this case. ************* reached out and reported his wallet had been hacked and requested a refund of the funds that were stolen. Our team explained the transactions on the blockchain are irreversible by default and that there is no way to reverse those transactions. ***** response You're right... the facts remain unchanged. That is, my ******** digital assets were stolen from the ABRA exchange. Not to mention I've missed out on gains because these digital assets have risen in value in this current bull run. The least you can do for a hacked account is to reimburse your customers like Coin Base does! This happened in the ABRA exchange, your company! ABRA The Abra team explained, in regards to the "hack", for this to occur a "hacker" would have access to *************'s phone, sim card, or Recovery Phrase. As the phone number on the wallet was changed (the phone number changed from ******************************************************) this would indicate the "hacker/scammer" had access to *************** recovery phase. ABRA never has access to a user's recovery phrase at any time. If ************* provided their recovery phase to anyone or in the event a "hacker" stole it from *************, that is giving a "hacker" full access to ************* wallet, from anywhere. ***** response ABRA is not taking responsibility for the gross negligence on their part. They keep reiterating that transactions on the blockchain are irreversible. But I informed them of the initial incident when I still had 90% of my funds left. If transactions are irreversible, they should have protected or froze my account after I first found out it was hacked. I asked ABRA to secure my account before the hacker took out the remaining funds in my account. They didn't protect my account. They ignored my emails. When they finally responded, I was left with ZERO balance in my account. This was an inside job. No 'hacker' has access to my account - phone, SIM card, Recovery Phrase. I did not have it written online or on my phone. There was no way anyone could have accessed the Recovery Phrase... I am 100% sure! Also, my phone number hasn't changed. I've had the same number for the last 20 years or so. Why is ABRA giving me the runaround? ABRA Although we understand *************'s frustration in regards to a loss such as this, these funds cannot be returned to ************* as transactions on the blockchain are irreversible by default. Additionally, Abra does not offer insurance in the event of a hack, scam or stolen funds. Abra terms of service: https://www.abra.com/terms-of-service-us/ However, as ************* mentioned he emailed a scammer by the name of *****, we recommended filing an IC3 with the FBI as ************* has all of the correspondents with this scammer "*****": https://www.ic3.gov/Home/FileComplaint Along with the addresses, the funds were withdrawn to and they may be able to track down the hacker/scammer: ********************************************************************************************************************************************************************************************************************************************************************************************** Any other information the FBI requests we'd be happy to provide. ***** response The incident occurred on the ABRA Exchange. Why are they asking me to contact the FBI? It's their fiduciary duty to protect their customers' accounts. They should be doing the investigation.

• Initial Complaint

  08/28/2021

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  On August XX XXXX there were 8 transfers 8 exchanges and 2 sent to's in my transaction history report within my Abra account that were no made by me. All last coins were sent to a doge account address. My profile also had an unfamiliar phone number that wasn't a US number which means this happened within the app itself and I believe that this is an Abra mistake on their end. I've contacted the support and was told there was nothing they could do that someone must have gotten a hold of my phase key which is untrue my key is in a safe box that only I can access. So I've decided to contact the BBB in helping me get my money back from Abra. I gave no permission to make these transactions nor did I allow anyone access. I also have a time stamp of my abra app not being used within the last 10 days of August XX XXXX. I expect abra to investigate this matter and refund me my money I invested within this Abra account.

  Business response

  10/25/2021

  Business Response /* (1000, 8, 2021/10/11) */ ********* reached out on August XX XXXX regarding several unauthorized transactions. Abra support notified the user in order for this to occur someone must have had physical access to your device, Abra PIN, recovery phrase, or your device was compromised (hacked/Sim Card jacked). Abra never has access to a user's recovery phrase, nor can Abra change a phone in app on behalf of the user. The phone number being verified on another phone further confirms a scammer/hacker/Sim Card jacker gained access to *********'s recovery phrase and stole the funds from the wallet. Abra support explained the wallet had been compromised and the transaction hash was provided to the user. This case is considered closed.

• Initial Complaint

  08/27/2021

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  This company has $50 cash of mine that they should return to me or remit to Massachusetts Treasure as an inactive account. Abra does not list a phone number to talk to anyone. The return emails are very bland, "thank you for contacting us" types of responses.

  Business response

  10/11/2021

  Business Response /* (1000, 8, 2021/10/11) */ On July, XX XXXX *** ********* contacted Abra Support regarding a missing $50 USD deposit not showing on their Abra app. Abra Support advised him the funds successfully reached the wallet ******* and that he could gain access by recovering the wallet with the 13-word phrase. *** ********* stated that he didn't have the phrase and Abra Support explained, Abra never has access to a users recovery phrase. Additionally, at this time Abra did not and still not not have a way to move funds from a non-custodial wallet as the funds are not held with Abra. The team explained there is no way to recover a previous wallet unless someone has the backup/recovery phrase as it is stated in the terms and conditions of the service. This case is considered closed. Consumer Response /* (3000, 15, 2021/11/05) */ This company did not respond to the complaint that they did not submit my dormant money back to the Massachusetts Treasure after the money was dormant. Business Response /* (4000, 17, 2021/11/15) */ On July, 18 2017 **. ********* contacted Abra Support regarding a missing $50 USD deposit not showing on their Abra app. Abra Support advised him the funds successfully reached the wallet ******* and that he could gain access by recovering the wallet with the 13-word phrase. **. ********* stated that he didn't have the phrase and Abra Support explained, Abra never has access to a users recovery phrase. Additionally, at this time Abra did not and still not not have a way to move funds from a non-custodial wallet as the funds are not held with Abra. The team explained there is no way to recover a previous wallet unless someone has the backup/recovery phrase as it is stated in the terms and conditions of the service. This case is considered closed.

• Initial Complaint

  08/24/2021

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  August X XXXX, I made a Crypto XRP amounting to 90xrp from Abra wallet to Coins.ph wallet, but untill now its not yet arrived, I already mailed them several times but no followup response from them.

  Business response

  10/18/2021

  Business Response /* (1000, 8, 2021/10/01) */ Mr. ***** reached out to Abra support on August 7, 2021, regarding an XRP withdrawal initiated on Aug. 6th, 2021 with the amount of 89.000000 XRP. The Abra team notified Mr. ***** that the XRP wallet was under maintenance. Due to the maintenance, the Mr. *****´s XRP withdrawal encountered an issue. This issue was escalated to our engineering team and they are currently working on resolving it. Mr. ***** has been notified the case is still open, our team is still working on resolving this issue but we do not have an ETA at this time. The case remains open as our team works to resolve this issue.

• Initial Complaint

  08/17/2021

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  This complaint is about Abra, a cryptocurrency wallet or bank or whatever they think they are. The fact is they are nothing but a complete fraud and scam. A couple months ago they conducted a number of transactions without my permission and all this under some gimmick excuse of merging with something something which is all complete BS and scam. But in the process they liquidated my Ethereum that I had bought a few years back around $800. As well as $100 worth of U,S. dollars! mind you they even stole my U.S. dollars!!!! The balance on my account never made any sense after these fraud transactions and it is obvious they have either stolen money from me, or by doing these unauthorized transactions they have caused major losses and there is probably also some sort of hefty fees they are hiding. I asked them several times via email an explanation of why they have done this and exactly what they have done and have only got nonsense evading responses. Transaction history is missing on these!

  Business response

  09/13/2021

  Business Response /* (1000, 5, 2021/09/13) */ **. ******* deposited USD and converted into synthetic ETH in 2017. **. ******* also purchased TUSD. At that time ETH and TUSD were synthetic within the Abra app, meaning "under the hood" they were BTC. A major migration occurred on September 5th, 2019. All Abra users holding synthetic assets in the app would need to complete this migration in order to go from holding the synthetic asset to the actual asset. We (Abra) notified all users holding synthetics in the Abra app via email and notifications in the app that they would need to migrate their funds before September 2nd, 2019. The emails and notifications went out the entire month of August 2019 leading up to the migration. Our team also created a blog and FAQ so our users would have more information. **. ******* did not migrate his funds, meaning he did not update and open up the app which would reflect the migration prompt. As that did not occur, our system simply removed the synthetic veil and reflected the actual BTC that **. ******* was holding within the Abra app. Abra did not initiate a transaction, steal or liquidate funds within **. *******'s wallet. The worth was an exact 1:1 on September 5th, 2019. If **. ******* had exchanged back to ETH or TUSD (at that time) he would hold the same amount. At this point in time (years later) the worth of BTC to ETH or TUSD has changed significantly as the market has changed. This explanation has been provided to **. ******* and thus this case is considered closed. Consumer Response /* (3000, 7, 2021/09/20) */ (The consumer indicated he/she DID NOT accept the response from the business.) As explained this is one corrupt fraudulent business and as always they resort to lies and misleading comments. Never they explained why my balance is now considerably lower than what it would have been if they did not touch my account. The claim that they provided numerous notifications is also pure lie. AND most importantly they never explained why the transaction history does not reflect any of so called needed migrations!!! Wow it is amazing how comfortably they commit fraud and then lie about it. I will weight my options to directly file a law suite against these criminals. The negative review must stay so other people are aware what kind of scammers they are. Consumer Response /* (4200, 18, 2021/10/21) */ (The consumer indicated he/she DID NOT accept the response from the business.) Abra has not provided any new information or explanation and has simply repeated the same lies as in their last response. Clear indication of a fraud criminal activity. Notice how they never explain why there is no history of the latest transactions in question. Simply because it would clearly show their vilations and frauds. It is obvious they have stolen money from me. They simply try to blame market conditions saying " the worth of BTC to ETH or TUSD has changed significantly as the market has changed. This is why the worth is not the same as when **. ******* made the purchase"!!! Insted of trying to make this right and reimbuse me for the wrong they have done, they keep repeating the same lies thinking people are stupid! I have also filed a complaint with federal banking regulators and hope to see the government file criminal charges against these rudless low life criminals very soon..... Business Response /* (4000, 20, 2021/11/15) */ **. ******* deposited USD and converted into synthetic ETH in 2017. **. ******* also purchased TUSD. At that time ETH and TUSD were synthetic within the Abra app, meaning "under the hood" they were BTC. A major migration occurred on September 5th, 2019. All Abra users holding synthetic assets in the app would need to complete this migration in order to go from holding the synthetic asset to the actual asset. We (Abra) notified all users holding synthetics in the Abra app via email and notifications in the app that they would need to migrate their funds before September 2nd, 2019. The emails and notifications went out the entire month of August 2019 leading up to the migration. Our team also created a blog and FAQ so our users would have more information. All of this has been documented. **. ******* did not migrate his funds, meaning he did not update and open up the app which would reflect the migration prompt. As that did not occur, our system simply removed the synthetic veil and reflected the actual BTC that **. ******* was holding within the Abra app. Abra did not initiate a transaction, steal or liquidate funds within **. *******'s wallet. The worth was an exact 1:1 on September 5th, 2019. If **. ******* had exchanged back to ETH or TUSD (at that time) he would hold the same amount. A transaction did not occur and **. *******did did not migrate, it does not reflect in the transaction history of that year. It simply shows in BTC as it always was underneath. At this point in time (years later) the worth of BTC to ETH or TUSD has changed significantly as the market has changed. This is why the worth is not the same as when **. ******* made the purchase, BTC still fluctuates with the market. This explanation has been provided to **. ******* and thus this case is considered closed.

*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. ↩