Date Received: 2021-11-25
Issue: Other transaction problem
Subissue:
Consumer Complaint: Starting on XX/XX/XXXX XXXX purchase Gyen which is a type of Crypto currency on coinbase plat form invested several amounts totaling XXXX dollars, on XX/XX/XXXX I had a total of XXXX coins of XXXX Coinbase seized trading for that crypto meaning no one can buy sell withdraw or deposit which is not far since other exchanges where trading it. At the time when I bought it it was XXXX now its XXXX I lost more then half what i invested because I wasn't able to trade it. Now I don't have it at all Coinbase completely deleted that coin and amount from my account. they left my account with XXXX cents I have all screen shots and confirmations when I purchased it and up to XX/XX/XXXX what balance I had till coinbase removed it from my account. I have contacted them by email and phone with no help or ways to solve this. This seems to me from reading other social media sites like XXXX, XXXX and XXXX that it has happened to several XXXX XXXX people. Please help me recover what I lost and please investigate the fraudulent activity coinbase is doing.
Company Response:
State: FL
Zip: 33414
Submitted Via: Web
Date Sent: 2021-11-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-11-25
Issue: Fraud or scam
Subissue:
Consumer Complaint: On XX/XX/XXXX, I bought a token called Gyen at the price of XXXX cents on coinbase pro. I bought token for my mother and myself, both trandactions closer to {$1900.00} each. Coinbase halted all the trading. Since it is considered a stablecoin, the price of the token should have had a stable price from the begginning. Many people didnt know this. By default you buy and sale coins on coinbase, a behavior that has becomed automatic and coinbase knows that. Buy low and sale high that is the purpose of trading. When coinbase halted all the trading it caused many customers to recieve loses. Coinbase let trading go on for several days and later stopped the transaction due to unusual activies to later resume, coinbase should have never resume trading to minimize losses to the clients. Coinbase never acted in the best interest of clients but the best interest of themselves. XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX I believe coinbase is acting in bad faith and it is trying to set the blame on the users.
Company Response:
State: IN
Zip: 46234
Submitted Via: Web
Date Sent: 2021-12-29
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-11-25
Issue: Fraud or scam
Subissue:
Consumer Complaint: Hello, I sign up for the coinbase platform in XX/XX/XXXX since then Ihave benn investing every month, hanving returns.on XX/XX/XXXX Idecided to get some of the profitability out of my personal account and leave XXXX euros in my Coinbase portofolio.the next day Coinbase restrited my account ( supposedly because of problems they tell me ) on XX/XX/XXXX he entered Coinbase and all my chrytomocurrencies have disappeared for approximately XXXX euros .I feel like he scammed me
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-11-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-11-24
Issue: Unauthorized transactions or other transaction problem
Subissue:
Consumer Complaint: My coinbase account got hack and it took me XXXX and XXXX to get ahold of coinbase. It was so hard to figure how to lock my account. I lost {$18000.00} it was transfer to XXXX XXXX XXXX some where on the west coast. The last digit of the account is XXXX.
Company Response:
State: VA
Zip: 22801
Submitted Via: Web
Date Sent: 2021-11-24
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-11-25
Issue: Money was not available when promised
Subissue:
Consumer Complaint: I had a large amount of GYEN in my Coinbase account. I tried to transfer it to another crypto, it failed. I tried again and it went through, but not for the amount I was shown would be traded. Everything else disappeared - I lost about {$8000.00} usd worth of XXXX into thin air. So {$10000.00} usd or equivalent in crypto seems fair. Lots of other people had the same or similar issues. If I go to the grocery store and a bag of apples is XXXX I get a bag of apples for {$5.00} - even if they meant {$15.00} If Coinbase showed me transferring from one crypto to another at one price, I should get it. So should everyone else who had these issues.
Company Response:
State: WA
Zip: 98501
Submitted Via: Web
Date Sent: 2021-12-10
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-11-24
Issue: Fraud or scam
Subissue:
Consumer Complaint: Coinbase completely blocked and then stole all the money that was invested in crypto currencys. It was around 10000.
Company Response:
State: NY
Zip: 115XX
Submitted Via: Web
Date Sent: 2021-11-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-11-24
Issue: Fraud or scam
Subissue:
Consumer Complaint: Coinbase pro has a publicly traded ETF under the ticker COIN therefore I listed this complaint with the company not the ETF. On XX/XX/XXXX Coinbase pro listed the crypto currency gyen for trading. A day later gyen suffered a " glitch '' which did not allow for the proper minting of the coin which drove the price up rapidly. Coinbase pro was aware of this and did not halt the coins ability to trade immediately. After this glitch was fixed by the creators of the Gyen coin, Coinbase and Coinbase pro experienced an issue which no other exchange that was trading gyen coin did. Coinbase and Coinbase pro awarded certain accounts with 100 times the amount of coins they actually had purchased. This on top of the fixing the gyen minting algorithm made the circulating supply go from 2.3B to 32B in just a few days. This totally devalued the price of gyen coin. It was after the total crash did Coinbase / Pro halt the currency. It is my understanding that people were able to capitalize on the glitch and sold 100 X coins they never paid for. So the liquidity of the coins value was given away and traded. It wasn't until days of Coinbase knowing that there problems that they actually halted the coin. Now coinbase pro and coinbase are holding peoples funds as they try and recover the money they gave away. It has been halted now since about XXXX CST on XX/XX/XXXX. Even though I never experience 100 times my coins my order history does not even reflect the amount of gyen coins I traded. This whole things feels like a scam. I know the SEC does not regulate crypto but you do regulate the ETF COIN that is based of Coinbase. I am very upset over this whole thing has Coinbase should have shut down traded the moment the coin failed to mint itself properly instead they waited for a bigger problem to arrise. To make matters force the exchange XXXX delisted the coin gyen just days after release for almost the same issues. I did not know this until after the fact I bought in. Keep in mind this happened to 1000 's of people with millions of USD $ all while Coinbase charged fees to wreck their portfolio and remove the ability for people to transfer or withdraw their funds. That should be illegal and their ability to halt the coin sooner seems like a scam. I was in and out many times on this coin my Intial investment went from {$2600.00} down to {$800.00}. Meanwhile while my gyen coins were locked by Coinbase pro the value of them went down another 50 %. Currently Coinbase transaction history is so broken it can not even reflect the proper amount of coins I bought or sold.
Company Response:
State: LA
Zip: 71105
Submitted Via: Web
Date Sent: 2021-12-10
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-11-24
Issue: Wrong amount charged or received
Subissue:
Consumer Complaint: Hello, I am a user of the Coinbase trading app. Last Friday XX/XX/XXXX I made a purchase to acquire XXXX shares. Coinbase has had a system error and because of this they have locked out all access to my account. I can not trade or sell or withdraw any funds whatsoever and their customer support has done nothing. The amount of shares have also since been reduced that is not accurate to the amount purchased.
Company Response:
State: CA
Zip: 91762
Submitted Via: Web
Date Sent: 2021-11-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-11-24
Issue: Fraud or scam
Subissue:
Consumer Complaint: On Monday the XXXX I received an email stating that someone was trying to gain access to my XXXX email. It stated if it wasnt me then click the link I did not because I thought it was a phishing scam of some kind. Tuesday the XXXX I received a text stating that my Coinbase acct password had been changed. I never received or authorized this transaction. I attempted to gain access to my account but could not, I was locked out. I attempted to make a phone call to ask Coinbase about it but my phone would not allow any calls out after the changed password text. I searched online and found a way to message Coinbase and filled out their form stating what had happened and demanded them to freeze my acct. After doing that I went to my cell provider to see what was going on with my phone. I found out that my phone was hijacked with some sort of SIM swap. I had to wait an hr in line before I was seen to take care of the emergency. I have two factor authentications activated on My Coinbase acct - the hackers were able to use my phone somehow and receive the text and or emails that give them that authenticating email and text and didnt know anything until I was locked out and got a final text stating that my password had been changed. I followed all of Coinbase protocols in an attempt to get my account back and activated with no luck. When I attempted to change my password, I would never receive the emails with the link to do so. Until the XXXX of XXXX I could not reset my password. A tech friend made me aware that the hacker could have made the coin base recovery password a blocked email so I would never be able to stop the hack. That was the case and I unblocked the email after we searched and found it. I have no idea how much of my 13 thousand dollars were taken. I had almost 9k in a dollar coin that was something stable and sort of a place holder until I wanted to do another coin transaction. I have roughly 69 million XXXX coins as well. I have no idea how much was taken because they wont tell me and I cant gain access. What can I do? Who can I make aware of this this isnt safe for anyone? If I used two factor authentication and still was hacked this is something that should be regulated a bit more. They make you feel like this is a legit exchange but this happens and now they wont even talk to me or help me. My wife read up on the issue and it looks like this has happened quite a bit. A few months back over 6k people were hacked in the same manner on coin base and Coinbase hold the accts that were hacked hostage. There is a class action suit against Coinbase because they seize peoples money/accounts and wont let them in. Wont help them, wont call them, etc. She also read that the SIM that was hacked should be kept and used for evidence. On the XXXX at around XXXX pm XXXX my wife called the XXXX store that helped me by giving me a new SIM and taking the old and made them aware that we needed the SIM back for evidence. They told her that they would call her the next day they didnt so she called them. She was told that they would find it and reach back out. She made them aware that this was evidence that we needed. Later on, the XXXX she was told by the XXXX employee working out of the XXXX XXXX XXXXXXXX XXXX location so sorry we got busy and someone threw it away. I have requested to see where was my sim swapped to? They can see what phone # used my phone number but they wont let me know. The fact that they threw away the sim card makes me question if the whole company is complicit in hiding the facts. A lot of times these sim swap attacks happen from inside said phone companies. Someone either works for the provider or pays a friend who pays a bit of money for each time they do the swap. I have filed reports online with the FBI, FTC, FCC, and the state Attorney generals office. The first week no one reached out. No one has called to get more info ; no one has asked XXXX for the info on which device my number was swapped to. Coin base after a week allowed me to reset my acct and when I got in there is only 8 dollars left. What do I pay taxes for? Where is my help on this issue??? The State Attorney General responded on Monday the XXXX saying they would attempt to contact the company. I have read multiple people 's complaints online stating that they even drove to the headquarters to find it boarded up. The way they have responded or lack thereof makes me feel like they are the crooks that took my money. A SIM swap attack is a hijacking method carried out by manipulating cellular network employees to duplicate phone numbers so a scammer can intercept two-factor authorization requests. Such requests lead to access to a victim 's account.
Company Response:
State: MO
Zip: 630XX
Submitted Via: Web
Date Sent: 2021-11-24
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-11-24
Issue: Fraud or scam
Subissue:
Consumer Complaint: Using the app COINBASE I purchased a certain amount of tradable goods called XXXX. The purchase, as indicated by the purchase receipt, was a total of {$1000.00} USD in exchange for XXXX XXXX. Shortly after the purchase this good was " frozen '' and over the course of several days COINBASE changed the amount of holdings of XXXX to XXXX. While I understand the value of a holding will fluctuate the actual amount of said holding can not change without some action on my part. To date I have neither sold, nor traded away any of my holdings in XXXX. The amount has simply been altered.
Company Response:
State: CA
Zip: 90813
Submitted Via: Web
Date Sent: 2021-11-24
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A