Date Received: 2021-12-03
Issue: Fraud or scam
Subissue:
Consumer Complaint: I was an investor on Coinbase until XX/XX/28 when my account was hacked and my savings account was drained. {$6000.00} was pulled from my savings account and the hacker was able to transfer out {$2600.00} before the account was locked. At the time I had {$1700.00} give or take in my Coinbase account. I have been refunded {$6000.00} back into my savings account by Coinbase but have lost the {$1700.00} that I originally had in my Coinbase account. Coinbase will not refund me and I need assistance or guidance moving forward, to hold Coinbase accountable for their platform that was hacked, as they are ultimately responsible. Thanks and please let me know.
Company Response:
State: KS
Zip: 660XX
Submitted Via: Web
Date Sent: 2021-12-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-12-03
Issue: Other transaction problem
Subissue:
Consumer Complaint: Dear Coinbase, I've been your loyal and happy customer of your trading platform since the beginning, and I fully trust in this brand. Unfortunately, two weeks ago, a girl from XXXX sent me XXXX messages about cryptocurrencies. In the same week we were having XXXX calls about a very attractive investment she was part of, a XXXX mining pool that rewards according to the balance in your wallet. I did a lot of research about it, and was extremely suspicious that it was more likely a scam, it was just too good to be true. She insisted, then she pitch Coinbase Wallet : No hacker in the world could every break into that wallet, only you can move funds from in and out of it. I went to my Coinbase exchange account and was trying to figure out how i could use my wallet for that purpose. The she sent me print screen of her phone showing an app icon, I was supposed to go to the XXXX app store, and have it downloaded into my XXXX XXXX. I was surprised at first because I have never heard of this Coinbase Wallet before, as an app disconnected from my Coinbase accounts. I thought it was fake, but after doing some research I found that this was legit, a real Coinbase product and the most secure in the market, with its unique user-centric approach. I learned that no one could do anything in it but me, so I felt comfortable on moving forward. I downloaded the app, created a wallet and have my security phrase written down on a piece of paper and put it my safe. I can assure no one has ever seen that but me. With the account ready, I started to add funds, in XXXX. From a XXXX, I went to XXXX XXXX, then XXXX XXXX XXXX. The balance was there, and I was seeing my rewards being added up. I was able to claim the rewards and exchange to XXXX. I was constantly searching for scam stories, and found many cases, but no one referring the Coinbase Wallet. I was nervous, and very suspicious, so I've decided to withdraw all my funds from there. I moved all my XXXX to my Coinbase Pro account. Days passed and I spent lot of time questioning myself for leaving this opportunity, the gains were excellent, it was basically 1 % back to me everyday, in XXXX. The girl from XXXX continue to insist I should never lose this opp. She shared print screens of her phone with a XXXX in her Coinbase XXXX. I then made the terrible mistake to go back there, depositing $ XXXX, and the rewards were coming ; I was very excited for that, thinking, Oh my gosh I will be making XXXX XXXX dollars per day, every day. I was constantly checking the status of my Coinbase Wallet, it was all good, until a button pops up within the app interface, asking me to add liquidity to the pool, the moment I click that button my balance disappeared from my wallet, and I panic. I chatted with their tech support agent within the app, fully believing that this was a Coinbase support agent. was able to calm me down. and also told me that this was a standard $ XXXX smart contract for the period of 30 days. I went to my Coinbase Pro account and transferred another $ XXXX, with a total loss was {$210000.00}. This happened last Saturday ( XX/XX/2021. The girl from XXXX suddenly disappeared, then I finally came to the conclusion that I was victim of a scam. I panic, and went to Coinbase support team, and after a few days of waiting for contact, they told me that there was nothing that could be done, due the nature of your product : user-centric, everything were done by me, or by anyone with the access to the security phrase. I know this is not right, my wallet has never been restored, the security phrase has never leave my safe, and my funds where stolen in full. I have never received an email saying that my wallet was restored, I have never receive an email informing an withdraw, I was never asked to authenticate with my authenticator app, in order to get the funds out. Whoever did that, know your product very well, and most likely know how to exploit a security flaw. I am a geek, and I know what I am talking about. I have already reported the case to the FBI, and now with though this complaint I have hopes that this will end up with a happy end to me, as a happy Coinbase customer.
Company Response:
State: TX
Zip: 75078
Submitted Via: Web
Date Sent: 2021-12-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-12-02
Issue: Trouble using the card
Subissue: Trouble using the card to spend money in a store or online
Consumer Complaint: I went to use my Coinbase debit card last night around XXXX XXXX and the card was declined. I knew that I had sufficient funds available on the card so I checked the app and was greeted with the message " Your Card is temporarily suspended after detecting some suspicious activity. '' I attempted to contact Coinbase XXXX @ XXXX but the automated system never allows me to speak to an agent. Once I type in my information it disconnects me. I've sent messages on XXXX as well as emails trying to get this resolved. There has been no suspicious activity on my card and I really need access to it again but haven't received any type of response from the company, which is unacceptable. The card is issued by XXXX.
Company Response:
State: PA
Zip: 185XX
Submitted Via: Web
Date Sent: 2021-12-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-12-02
Issue: Fraud or scam
Subissue:
Consumer Complaint: Coinbase stated that its a secure platform howerver Coinbase should take the responsibility as well - These transactions into Coinbase company were part of a cryptocurrency scam, even though it was placed in a good faith and hard to believe it was a fraudulent purchase. - After several days investigation, there are plenty and verifiable evidence along with other victims indicating this is a cryptocurrency scam. - Coinbase has a big loophole that makes it easy for the scammers to do money laundering and allows scam site to launder funds to their platform. -Coinbase is not the safe platform. They only just want to get transaction fee from their customers. Such merchant was contributed to fraudulent practices and did not have any safety precautions in place to protect myself and others from this happening.
Company Response:
State: CA
Zip: 94116
Submitted Via: Web
Date Sent: 2021-12-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-12-02
Issue: Unauthorized transactions or other transaction problem
Subissue:
Consumer Complaint: Initial contact with coinbase : Coinbase XXXX XXXX XXXX has XXXX of my dollars in limbo Just another post confirming Coinbase XXXX will send your tokens with no Memo and it will be lost if you use the coinbase XXXX XXXX sent XXXX $ to another exchange and know for certain that it had the memo on there as I used a saved address that has worked without issue in the past more than once. I have created a case # XXXX and the first response was them saying the transaction went though and went to the right address. But without that memo i will never see it and it is gone. Coin base where are you at? you should immediately cease withdrawals requiring memo on you app and refund me all my money as it is lost. then Fix your app. your a huge company and this issue is all over the internet with multiple confirmations that the app is bugged. Hello XXXX, Thanks for reaching out. We're aware of this issue and working to fix it as soon as possible. Cryptocurrency transactions on the blockchain are irreversible, meaning after they are sent, there is no way for us to reverse the transaction or recover these funds. Our best recommendation would be to reach out to the party you intended to send these funds to and see if they can help you recover the funds. You can provide them with the link to your transaction available here : XXXX XXXX XXXX We appreciate your patience and understanding. Kind regards, Coinbase Support This is unacceptable as they have now stated they know about the issue but basically sorry we cant do anything. The other exchange wants XXXX $ to get it back. I have now asked for a XXXX $ credit to at least cover the recovery fee..at the end of the day its a coinbase error and they should be the ones fixing it and incurring all fees and contacting the other exchange not me. So as of now i am still out XXXX $ and nothing has been said by coinbase of how they will make this right.
Company Response:
State: TX
Zip: 78130
Submitted Via: Web
Date Sent: 2021-12-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-12-02
Issue: Fraud or scam
Subissue:
Consumer Complaint: I am writing to seek your assistance in recovering the {$170000.00} USD that were stolen from my Coinbase XXXX account on XX/XX/2021. I believe Coinbase should be held accountable for my losses based on their lack of security measures and non-existent customer service which allowed the attacker the time to execute the theft. On XX/XX/2021, I was the victim, when my Coinbase pro investing account was drained of over {$170000.00} in U.S. Dollar assets comprised of XXXX Bitcoin and XXXX Etherium tokens. In trying to stop the hack, lock my account, and gain knowledge of what happened, Coinbase was unresponsive. Their lack of security measures resulted in a total loss of the account and minimal contact for almost 7 days. The lack of security measures and ability of Coinbase to take proper action when requested allowed the attacker to steal {$170000.00} from my family. The sequence of events is as follows. I received a new XXXX XXXX XXXX from XXXX on XX/XX/2021. While setting the device up, I was unable to link the two-factor authenticator application to my Coinbase XXXX XXXX investing account. I then went to the Coinbase website to trouble shoot and contact customer support for assistance. While doing so I was sent to a site with a phone number that I contacted. The procedure that followed was nearly identical to one in which I performed just a few weeks prior to rectify a similar issue for my other employer, XXXX XXXX. Nothing seemed out of the ordinary. The individual had me log into my accounts to relink the device to the authenticator application. At some point the individual was able to transfer funds without my knowledge to their own XXXX wallet. I did not authenticate any device as my new device was not receiving the security codes to do so. At no point did I give out my device password or Coinbase password. I was never queried to enter my two-factor authentication code to confirm a transfer. I received a single email stating that a transfer of XXXX XXXX ( approximately {$56000.00} USD at that time ) was transferred to a XXXX address : XXXX. When I received this email, I immediately went to the Coinbase website to lock my account on fear of a compromise. I sent 5 lock attempts and support request emails to Coinbase. I did not receive any further notification or correspondence from Coinbase, and the account was not locked for nearly 12 hours or more. Coinbase had no information for me on the status of my account and what had happened for 7 days. This is unsatisfactory from a major investing firm and publicly traded company. This negligence allowed the attacker to empty the rest of my hard-earned assets. It took Coinbase 7 days to finally respond to my over 15 support requests about what happened to my account. They stated that the attacker was able to gain access to my account in some unknown way and change all my security settings without my knowledge or verification and further transfer the remaining balance of my account to a total of two crypto addresses. Coinbase never verified the change of the email address on my account or any other security settings that I was told by Coinbase were changed. Coinbase allowed all my account information to be changed and my account to be drained without ever verifying these settings changed with the original email or phone number. Their system is very easily hacked, and this should NOT BE ALLOWED. In total the resulting transfer of my assets without my knowledge was as follows : XX/XX/2021, XXXX XXXX was sent to the external wallet : XXXX XX/XX/2021, XXXX XXXX was sent to the external wallet : XXXX I have since contacted Coinbase on countless occasions since the theft without resolution. Coinbase responds in a short generic email offering no assistance or resolution. I have filed a police report with my local XXXX, NV Police department, filed a complaint with the FBI XXXX XXXX, the SEC, and the Federal Trade Committee to gain some form of resolution on the incident. Coinbase lacks adequate security measures and customer support capability to maintain its status without regulation or oversight in the Crypto investing sector. Something must be done for personal investors to ensure their safety going forward. It is more difficult to login to my email account than it is for an attacker to gain access to my Coinbase account and change my settings without knowledge and steal my assets. Coinbase has almost no customer service or ability to prevent a hack. I notified them after I was first alerted that malicious activity was occurring. It wasn't for another XXXX hours before they finally locked my account. It was far too late at that point. There is no ability to contact them to stop this from happening again and again. The fact that I was never notified of account changes or asked to confirm them, the attacker was able to circumvent the two-factor authentication process and transfer my assets without my knowledge, their inability to take swift action when requested to lock the account, and lack of communication and customer support to rectify the theft is criminal and they should be required to rectify these issues immediately. This should have never been able to happen to me and should never be allowed to happen to another investor going forward. In doing minimal research on Coinbase and this incident I was easily able to find that their negligence extends to over thousands of clients. Over 6000 investors of Coinbase were hacked in a similar fashion resulting in the theft of thousands of clients hard earned money. Coinbase should be subject to further regulation and oversight going forward. They should be required to increase their security measures and be accountable for my losses in this theft as well as other investors losses going forward. The crypto currency sector should be regulated for the United States citizens protection. It is criminal that Coinbase has done nothing to protect my account, offer and customer support, take appropriate security measures when notified by me, and resolve the loss of my {$170000.00} USD. It is criminal that I have the addresses of where my funds were transferred to yet can do nothing about it.
Company Response:
State: NV
Zip: 89521
Submitted Via: Web
Date Sent: 2021-12-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-12-02
Issue: Fraud or scam
Subissue:
Consumer Complaint: I am filing a complaint against COINBASE INC because me and XXXX other customers had their account hacked. My entire wallet ( about XXXX ETH Coins ) was drained due to this hack and it was not my fault. Coinbase should be liable for this as it is required that 2 factor authentication to access my account. Somehow these hackers were able to bypass Coinbase 's 2 factor authentication and send funds from my wallet. Again when sending funds another 2 factor authentication is required and the hackers were still able to bypass that. For the record I was not hacked, Coinbase was hacked and they stole the money from their end not mine. Because it was stolen in this manner Coinbase should be totally liable for this, it was their system that was exploited which resulted in XXXX customer hacks. Me and ALL XXXX customers deserve to reimbursed in full of the total assets that were stolen from our wallets. An attached transaction summary from Coinbase detailing the attack is attached to this email. If this is not resolved in the next 30 business days I will be contacting my attorney and filing a lawsuit against Coinbase for the damages I incurred due to their flawed system.
Company Response:
State: MI
Zip: 48390
Submitted Via: Web
Date Sent: 2021-12-02
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-12-01
Issue: Fraud or scam
Subissue:
Consumer Complaint: Hello Sir/Mam I would like to bring your attention to an issue I have with Coinbase payments that first took place on the XXXX of XXXX 2021. I have been victimized by a multilayered scam operation. The funds were transferred utilizing Coinbase 's services in the total amount of over 10,300 euros. I would also like to point out that on the XXXX of XXXX 2021. I filed a dispute with Coinbase. They did not alert me to a potential scam or fraud, exhibiting that there was no issue with the recipient hence, Coinbase went ahead - and transferred the funds. Knowing that all the checks and confirmations are taking place before every transaction is being carried, these seems to be simply non efficient at all. If Coinbase would have performed a simple online search on scammers, they would have seen all the warnings, bad reviews, and alerts. Due to the fact that there are growing strong warnings against scammers and cybercrimes worldwide, I believe that Coinbase failed with their duty of care at this stage. I expect Coinbase to take full responsibility for my lost funds.
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-12-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-12-01
Issue: Other transaction problem
Subissue:
Consumer Complaint: To Whom may concern, I want to report my banks and Coinbase for not protecting consumer from the fraud. I got scammed with cryto investment. I have been wired transferd 240K worth of digital currency to scammer 's digital wallet using Coinbase. I have filed the complain with XXXX and they advised me to reach out to my banks and coinbase to file a formal complains, but unfortunaly the complaints are not successful. Please see below my complain letters for XXXX XXXX XXXX and XXXX XXXX. XXXX XXXX XXXX On XXXX XXXX. I contacted XXXX XXXX XXXX after being targeted by fraudsters who stole {$75000.00} from my account. - XXXX XX/XX/XXXX Transfer record - We have received the following transfer request on XX/XX/XXXX : Item # : XXXX Amount : {$5000.00} To : coinbase inc Fee : XXXX Service: Same Day - We have received the following transfer request on XX/XX/XXXX : ********************************************* Item # : XXXX Amount : {$50000.00} To : coinbase inc Fee : XXXX Service: Same Day - We have received the following transfer request on XX/XX/XXXX : ********************************************* Item # : XXXX Amount : {$20000.00} To : coinbase inc Fee : XXXX Service: Same Day - Transaction Type : Wires - Amount of Transaction : {$75000.00} - Account Number ending in ( last 4 digits ) XXXX - Recipients Account Number ending in ( last 4 digits ) XXXX - Recipients Bank : XXXX XXXX XXXX XXXX XXXX Reference XXXX On XXXX XXXX. I contacted XXXX XXXX after being targeted by fraudsters who stole {$160000.00} from my account. - Transaction Type : Wires - Total Amount of Transaction : {$160000.00} - Recipients Account Number ending in ( last 4 digits ) XXXX - Recipients Bank : XXXX XXXX XXXX XX/XX/XXXX to XX/XX/XXXX transfer record 1.Wire Transfer Details Amount XXXX USD Payee Coinbase Date XX/XX/XXXX Transfer Type Domestic Reference Number XXXX 2.Wire Transfer Details Amount XXXX USD Payee Coinbase Date XX/XX/XXXX Transfer Type Domestic Reference Number XXXX 3.Wire Transfer Details Amount XXXX USD Payee Coinbase Date XX/XX/XXXX Transfer Type Domestic Reference Number XXXX 4.Wire Transfer Details Amount XXXX USD Payee Coinbase Date XX/XX/XXXX Transfer Type Domestic Reference Number XXXX 5.Wire Transfer Details Amount XXXX USD Payee Coinbase Date XX/XX/XXXX Transfer Type Domestic Reference Number XXXX XXXX.Wire Transfer Details Amount XXXX USD Payee Coinbase Date XX/XX/XXXX Transfer Type Domestic Reference Number XXXX 7.Wire Transfer Details Amount XXXX USD Payee Coinbase Date XX/XX/XXXX Transfer Type Domestic Reference Number XXXX 8.Wire Transfer Details Amount XXXX USD Payee Coinbase Date XX/XX/XXXX Transfer Type Domestic Reference Number XXXX I did not authorise these transactions as I did not know I was talking to a fraudster. The money was taken without my knowledge or consent. As a valuled reward member, I'm disaapointed with bank fraud protection precess. No alert or warning for large abnormal transctions. I therefore expect the banks to deal with my complaint according to the XXXX XXXX XXXX & # XXXX ; XXXX rules on unauthorised transactions, which state that unless the bank can prove I acted with gross negligence, the bank should reimburse me for this unauthorised those transfers. Besides the bank, Coinbase should take the responsibility as well www.coinbase.com Customer service : XXXX ( XXXX ) XXXX Coinbase stated that its a secure platform, unfortunately thats not true. - These transactions into Coinbase company were part of a cryptocurrency scam, even though it was placed in a good faith and hard to believe it was a fraudulent purchase. - After several days investigation, there are plenty and verifiable evidence along with other victims indicating this is a cryptocurrency scam. - I tracked the downstream wallet, which was report many times for fraud, and Coinbase ignored the problems and they didnt do anything to investigate or close the fraud wallet. Instead, Coinbase locked my account without any explanation. - Coinbase has a big loophole that makes it easy for the scammers to do money laundering and allows scam site to launder funds to their platform. Such merchant was contributed to fraudulent practices and did not have any safety precautions in place to protect myself and others from this happening. Therefore, the fraud transaction should be investigated and refunded from Coinbase
Company Response:
State: CA
Zip: 90066
Submitted Via: Web
Date Sent: 2021-12-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-12-02
Issue: Unauthorized transactions or other transaction problem
Subissue:
Consumer Complaint: i have a Coinbase XXXX account and in it was a balance to use for trading, selling, buying. Beginning XXXX 2021 I had a XXXX balance showing to use by Coinbase. all the sudden since XX/XX/2021, I have received emails stating I was unable to cash out any of the balance and owed. so, I waited, but needed to add more since the amount showed was unusable and added on XX/XX/2021, my own bank transfer of XXXX since I was unable to use or cash out on the XXXX balance showing. I agreed to have Coinbase take what was theirs, and they instead took XXXX total within 7 days and said I owed them that, i have emailed through the form online to have fixed and no response. my concern is the inability to use the original amount XXXX total, as if it was unaccounted for and they were not truthful and had used fake figures to take my money and not pay out my account when asked. plus, prior to the XXXX which i rightfully did not have on the owed amount of XXXX, I was seeing a lot of error try again later on the platform Coinbase uses, they took this as well. also, locked out for no reason or measure. I feel like i was frauded and stolen from. I just want the money i deposited and gained from Coinbase stock trades, refunded and the company to be exposed for fraudulently giving my money a false hope gain and their cash in and outr as willed figure be paid to me at my own time. like stated.
Company Response:
State: NE
Zip: 681XX
Submitted Via: Web
Date Sent: 2021-12-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A