Date Received: 2021-11-29
Issue: Money was not available when promised
Subissue:
Consumer Complaint: I am XXXX XXXX XXXX with ID XXXX, mail XXXX and I have a cryptocurrency account in the COINBASE company. I have been with my account blocked for months and I can neither carry out operations nor withdraw money. In the attached image you can see that they ask me for an authentication code that they send to a phone that is not mine and I do not know that phone number.
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-11-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-11-29
Issue: Fraud or scam
Subissue:
Consumer Complaint: on XXXX XXXX my phone was ported to a hacker with out my knowledge. They then hacked my email locking me out then hacked my coinbase account locking me out. After I was locked out of coinbase I can only assume they drained my account of close to a XXXX dollars then made a ach withdrawal of XXXX to my coinbase account out of my checking account. I have called and emailed and filed clamaints with coinbase. No one can tell me if my account has my money in it still and they never respond to emails. I just want to know if they stole all my money and how to access my account again.
Company Response:
State: MS
Zip: 387XX
Submitted Via: Web
Date Sent: 2021-12-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-11-29
Issue: Other transaction problem
Subissue:
Consumer Complaint: Hi, I am writing to you because some time ago I had a problem with the Coinbase XXXX platform and unfortunately I can not find a way to solve the situation. On XX/XX/XXXX and XXXX I made some transactions from the XXXX platform to Coinbase of a cryptocurrency called XXXX to take advantage of the price difference between the XXXX exchanges ; on XXXX it was very clear that the cryptocurrency in question was of the " XXXX '' type, that is belonging to the " XXXX XXXX '' XXXX, while on Coinbase it was not at all clear that they only and exclusively supported the XXXX version of the aforementioned cryptocurrency, that is the one belonging to the XXXX XXXX, so I carried out the transactions with the security that they would have been successful. The sending by XXXX was successful, but as Coinbase does not support the XXXX XXXX, the cryptocurrency ended up in the right wallet but on the wrong blockchain : the tokens are now actually inside the Coinbase XXXX custodial wallet but I can not see or interact with them from Coinbase application. I contacted Coinbase support many times via tickets to the support team ( Coinbase support case # XXXX ) and once filing a formal complaint ( complaint # XXXX ), but each time they rejected my requests and were not willing to help me resolve this issue. This problem has involved many Coinbase users ( tens or almost certainly hundreds ), to the point that Coinbase has taken precautionary measures regarding this issue : it has inserted a disclaimer in the XXXX XXXXeceipt window specifying that the type of token supported is only XXXX ( disclaimer entry date XX/XX/XXXX XXXX ), and has even changed the name of the cryptocurrency from XXXX to XXXX ( XXXX ) ( this in date XX/XX/XXXX XXXX ). In my opinion this is an admission of guilt, because in doing so Coinbase revealed the fact that before it was not at all clear which type of token it supported. I took some screenshots, but unfortunately I don't have all the ones before the changes : documents attached to this complaint will be 1 - disclaimer in the XXXX reception window ; 2 - exchange wallet window with addition of the XXXX code ; 3 - response to the formal complaint to Coinbase ( section 5.13 does not exist in the user agreement ) ; 4 - list of cryptocurrencies supported by Coinbase ( here they have not yet changed the name with the XXXX code ) ; XXXX - description of the XXXX cryptocurrency before the modifications ( it is however the description of the native XXXX because the XXXX can not be staking ) ; XXXX - description of the XXXX cryptocurrency after the changes. You can see the tokens I sent to the address XXXX, which converted to the XXXX XXXX address is XXXX ( it is the same wallet but on different blockchains ), at the address XXXX XXXX XXXX simply by entering the address that I have indicated to you. Here are written in detail all the transactions carried out : time, date, departure address, arrival address, hash and amounts in XXXX of the transactions. Unfortunately, in the current situation I can not recover my money ( which with the current price amounts to about XXXX dollars ) because, being a custodial wallet, the private key is in the possession of Coinbase and XXXX rightly, they can not provide it or disclose it to nobody, not even me. For them, however, it would be extremely simple and fast to be able to enter the custodial wallet exchange through an external application that also supports the XXXX XXXX ( such as XXXX, XXXX or others, there are many ) and then send the blocked tokens to this address XXXX ( an address I own from which I could interact with the cryptocurrency and physically get it back ). If I were in possession of the private key it would take no more than XXXX minutes to carry out this operation, for Coinbase it would be even easier given the powerful means it possesses, I really don't understand why they don't want to help a customer with this simple informatic operation. I hope my description was clear and I hope I have not forgotten anything... if something is not clear please contact me as soon as possible as soon as you can look into my case. Thanks in advance for the availability.
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-11-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-11-29
Issue: Other service problem
Subissue:
Consumer Complaint: Hello good afternoon, my complaint is for the web COINBASE.COM. I have had the account since 2017 and always verified .... a year and a half ago they restricted my account and I was like that until 3 months ago that I wrote to you and it was solved for a short time because now I have been with the account again for 2 months and on its own website it says that I have all the data verified ..... I don't know what to do anymore. Thanks
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-11-29
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-11-29
Issue: Other transaction problem
Subissue:
Consumer Complaint: I have been a customer of coin base since beginning of the year, I have had transaction buying XXXX, I applied for a coin base card and received one. I activated the card and no issue. I went to trade next day the web was saying account under review and need some time to verify you won't be able to use coin base it would take a few days, that was around middle of XX/XX/2021. I waited sent out out a few emails through their sight and requested to upload another id photo with some bank statement, I uploaded the info. I waited a few weeks with the same routine contacted them through email, no result. On XXXX XXXX I opened coin base support case # XXXX verification. On XX/XX/XXXX XXXX I got an answered that this case has been close and also they let me know that our team is working diligently to review your account do not submit another request.
Company Response:
State: CT
Zip: 062XX
Submitted Via: Web
Date Sent: 2021-11-29
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-11-29
Issue: Problem with a lender or other company charging your account
Subissue: Can't stop withdrawals from your account
Consumer Complaint: Hello, My name is XXXX XXXX, I contacted XXXX XXXX Attorney XXXX XXXX XXXX XXXXXXXX and XXXX of the U.S. Securities and Exchange Commission and he referred me to contact you regarding Coinbase Inc and a malfunction on the trading platform. I purchased XXXX XXXX times XXXX the ticker/stock went up to around {$160000.00} + I attempted to remove some of my funds of {$130000.00} XXXX and keep the rest in the Coinbase Inc. and the transaction was canceled ( Transaction ID # XXXX ). Later in the evening my account was locked out by Coinbase Inc along with few 1000 other individuals according to reddit complaints. Coinbase Inc has made some type of error and Should be held responsible for their actions. My money is still invested into Coinbase Inc and can not be removed from the platform. Coinbase admitting to the malfunction gave me a tiny compensation credit of {$38.00} in XXXX in exchange for their mistake. I do not think this is a fair as I have email and picture evidence/ proof of my profile listing the correct amount of digital coins and Coinbase Inc went into and altered my profile switching and changing my crypto ownership shares and diluting my profits.
Company Response:
State: CA
Zip: 947XX
Submitted Via: Web
Date Sent: 2021-11-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-11-29
Issue: Managing, opening, or closing your mobile wallet account
Subissue:
Consumer Complaint: Coinbase closed my account without any sort of justification after I reported fraudulent transactions on their platform. For context, I was scammed into sending Bitcoin to a scam website called XXXX XXXX XXXX These transactions occurred via the Coinbase platform. I started investing about {$2200.00} in Bitcoin futures on XXXX XXXX XXXX in XX/XX/XXXX. This was transferred over to this fraudulent website through Coinbase ; I directly purchased Bitcoin from Coinbase to fund this investment. Each Bitcoin purchase on Coinbase came with transaction fees, which I estimate to be several thousand dollars. XXXX XXXX XXXX then charged me several fees to withdraw my money that amounted to over {$350000.00} that I purchased in Bitcoin through Coinbase. These fees are as follows : XX/XX/XXXX : A risk fee of XXXX % XX/XX/XXXX : A profit tax of XXXX % XX/XX/XXXX : A green channel fee of {$25000.00} XX/XX/XXXX : An exception fee of {$18000.00} XX/XX/XXXX : An XXXX XXXX XXXX XXXX XXXX fee of {$28000.00} XX/XX/XXXX : A handling fee for withdrawal of {$15000.00} XX/XX/XXXX : A XXXX XXXXXXXX XXXX fee of {$25000.00} XX/XX/XXXX : A XXXX % profit tax, where they threatened to freeze my assets under a XXXX XXXX XXXX XX/XX/XXXX : A US Capital Gains Tax of $ XXXX % XX/XX/XXXX : A processing fee of {$58000.00} XX/XX/XXXX : A late fee of {$74000.00}, where they threatened to freeze my assets XX/XX/XXXX : A high risk address deposit of {$100000.00} After paying all the fees, I was unable to withdraw my money. I then reported this fraudulent website to the authorities : XX/XX/XXXX : XXXX XXXX XXXX XXXX Sheriffs Department XX/XX/XXXX : XXXX XX/XX/XXXX : FTC via XXXX XX/XX/XXXX : Consumer Financial Protection Bureau XX/XX/XXXX XXXX via Tips, Complaints, Referrals I reported the fraudulent transactions to Coinbase on XX/XX/XXXX. Coinbase, instead of cooperating and helping me to report the incidents to the authorities, froze my account making me unable to access any information. They then withdrew my remaining money into my XXXX account and closed my account on XX/XX/XXXX. This is completely unacceptable, as Coinbase was the platform in which I sent fraudulent transactions. Closing my account and refusing to cooperate with the relevant officials is not only suspicious, but also irresponsible as a digital wallet platform. Instead of being part of the solution for this fraud case, Coinbase has now become a roadblock to me recovering my stolen funds.
Company Response:
State: OR
Zip: 97225
Submitted Via: Web
Date Sent: 2021-11-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-11-29
Issue: Other transaction problem
Subissue:
Consumer Complaint: Coinbase refuses to return my XXXX crypto currency that remains under the key it controls. Coinbase refuses to return my crypto, which is an XXXX XXXX. In XXXX, 2021, I withdrew my XXXX token from XXXX and sent it to Coinbase 's XXXX Tether address. Coinbase does not have an XXXX address, which means they should send it back.
Company Response:
State: DC
Zip: 20003
Submitted Via: Web
Date Sent: 2021-11-29
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-11-29
Issue: Confusing or missing disclosures
Subissue:
Consumer Complaint: I sent a large amount of USDT to Coinbase from the XXXX exchange. The money did not come because the network is not supported by Coinbase. This money is in Coinbase XXXX and they can return it, but they are not willing to do it.
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-11-29
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-11-29
Issue: Other transaction problem
Subissue:
Consumer Complaint: I have been an active coinbase user for years. This past year I have made many transactions using XXXX XXXX, XXXX, XXXX XXXX all on XXXX account. On XXXX XXXX. made a small bitcoin transaction for {$50.00} ( my balance was XXXX ), and the day after the rest of my bitcoin was taken out of my account. In my transaction logs, it says this transaction is for " XXXX XXXX XXXX I did not receive any notification or email or text that this would happen, it just did, without notice. After contacting coinbase support multiple times, they gave me the same answer : XXXX XXXX happened when funds haven't been touched in XXXX years. I don't understand how this can be allowed when I have been ACTIVELY using my account, and the day before I made a XXXX transaction. I know this is a system error, but coinbase support has offered my no help. HUNDREDS of other people on reddit have this same issue, where Coinbase is draining their accounts, on the basis that the funds havent been touched in years, when in reality most of these cases involve active traders. This is seemingly a large issue but coinbase is trying to hide it, they are not giving any update about this issue, and they stole my money.
Company Response:
State: NY
Zip: 14075
Submitted Via: Web
Date Sent: 2021-11-29
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A