LOBSTR is a legitimate non-custodial cryptocurrency wallet for the Stellar (XLM) network, also supporting XRP Ledger . It has a mobile app with a 4.6-star rating on the App Store and 4.4 stars on Google Play . However, a significant number of user complaints focus on asset management difficulties, poor customer support, and the presence of scam tokens on the Stellar network .
The «Scam» Problem: Fake Assets, Not the Wallet Itself
The primary risk for LOBSTR users is not the app itself being fraudulent, but the prevalence of scam tokens and bad actors operating on the Stellar network .
- Fake Assets: Many users report losing money by purchasing unverified assets that later become worthless or get flagged with warnings .
- QSI Scam: The platform’s support page explicitly warns about the Quantum Stellar Initiative (QSI) , a group that has stolen over $30 million by impersonating legitimate investments. LOBSTR even displays warnings when users try to send funds to known scam wallets .
- Worm Alerts: Users have reported assets showing «worm alerts,» effectively locking their funds and preventing withdrawal .
Critical Withdrawal and Support Complaints
User reviews reveal severe problems with withdrawing funds and contacting customer support .
| Complaint Type | Details |
|---|---|
| Withdrawal Refusal | Users report being unable to cash out crypto to fiat or transfer to other wallets . |
| Account Lockouts | Multiple reports of being locked out of wallets despite having correct security phrases; support tickets receive no response . |
| Customer Support | Described as «non-existent» or «AI-generated» with canned responses; no phone number available . |
| Asset Devaluation | Swaps reportedly result in heavy losses, with assets losing value or being blocked after purchase . |
Risk Indicators Summary
| Risk Factor | Status |
|---|---|
| Legitimate Wallet | ✓ Confirmed |
| Scam Token Risk | ✓ High (QSI, fake assets) |
| Withdrawal Complaints | ✓ Confirmed |
| Customer Support | ✓ Poor / unresponsive |
| Vault Lockouts | ✓ Confirmed (enabling multisig can lock funds) |
Final Verdict
LOBSTR is not a scam, but it operates in a high-risk environment filled with fake assets and poor support. The wallet’s legitimate features, such as multisig protection, ironically have resulted in users permanently locking themselves out of their funds. The risk of losing money by engaging with unverified assets is extremely high .
What to Do If You Have Lost Funds
- Stop all payments immediately
- Never pay fees to «recover» funds – scammers often target victims with fake recovery services
- Save all evidence: transaction records, screenshots, chat logs, and emails
- Report to LOBSTR at support@lobstr.co
- Report to local law enforcement and financial authorities
You can also submit your complaint here and find out how to get your money back: https://ob-man.com/en/quizle/66965abf8c5dc-3/
Remember: A legitimate wallet does not make the assets on its network safe. Always verify asset issuers, avoid tokens promising guaranteed returns, and never disable security warnings . If an investment sounds too good to be true, it is a scam.
