Date Received: 2021-11-24
Issue: Confusing or missing disclosures
Subissue:
Consumer Complaint: Coinbase advertises the purchase of XXXX, a cryptocurrency that operates on a blockchain called XXXX. However, when you purchase XXXX on XXXX, they actually sell something called an XXXX token on the XXXX blockchain which is *not* the actual XXXX cryptocurrency and which costs upwards of {$180.00} to convert into the actual cryptocurrency. XXXX, they completely lied about the asset they were selling and suckered me out of my money which I believe I was transferring to XXXX but instead was transferred to XXXX. So unless I spend now {$180.00}, I'm out my {$80.00}. XXXX refuses to take any responsibility for this action and only after I complained informed me that they do not actually sell XXXX on the XXXX network. This is entirely fraud, and as a company with significant holdings in XXXX, XXXX stands to profit from the more money sucked into that blockchain.
Company Response:
State: NY
Zip: 132XX
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: Other service problem
Subissue:
Consumer Complaint: During XXXX, Coinbase ran a XXXX Trading Sweepstakes. To enter, existing account holders were simply required to : 1 ) Opt-in, and 2 ) Trade the equivalent of {$100.00} in crypto. Then Coinbase was supposed to send confirmation by email. I completed both requirements. Coinbase never confirmed my entry by email. So I reached out repeatedly to Coinbase Support asking them to confirm that I was entered, and Coinbase repeatedly refused. Based on my interactions with Coinbase Support, I think it's clear that this " sweepstakes '' was simply an attempt by Coinbase to generate transaction fees without actually providing anything in return for smaller traders. I wanted to submit this complaint so that hopefully Coinbase would do better by all of its customers in the future.
Company Response:
State: CO
Zip: 80237
Submitted Via: Web
Date Sent: 2021-11-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-11-23
Issue: Fraud or scam
Subissue:
Consumer Complaint: i initially had XXXX invested in coinbase XXXX app. They allow you to make deposits through ach bank and loan you the money in advance. my bank reveersed a deposit for XXXX on XXXX, XXXX PST, Coinbase completed the transaction by processing your XXXX XXXX for {$1.00}, on XXXX, XXXXXXXX XXXX, Coinbase completed the transaction by processing your XXXX XXXXt for {$350.00}, and lastly, on XXXX, XXXX XXXX, Coinbase completed the transaction by processing your XXXX XXXXt for {$500.00}, which brought your balance down to {$1800.00}. the remainder balance was locked in I couldn't transfer it out even though i hade paid what i owed. they said they finally released my funds on the XX/XX/2021. come to find out when the are holding my account on lock again even though I had paid I attempted to transfer out until the XXXX i still couldn't transfer out my funds. only allowed to trade. I invested again in XXXX XXXX " stablecoin '' the XXXX cents totaling to XXXX tokens. that very same day they disable the coin completely remove it from listing causing the value to drop significantly not allowing my to even access my balance than completely disappears. when it reappears in valued at XXXX my XXXX was now XXXX and to this date I sill cant access what is left of my investment. the restricted sell buy trade and transfer functions. They responded to my with a blunt robo helper that the matter is being investigated still it been about XXXX days since. I've also reached out to XXXX as well they redirected me to your agency. This is my complaint file on XXXX : XXXX : :XXXX I am honest man. a husband father of XXXX. I just want to recover my money. This is to disciple and evil of a rug pull they did. i know im not the only individual who got scammed. their XXXX account is full of its victims. i appreciate your support and thank you for your contribution to our communities
Company Response:
State: CA
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-11-23
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-11-24
Issue: Other transaction problem
Subissue:
Consumer Complaint: My name is XXXX XXXX. I need your help with my coinbase account. Coinbase froze my account and refused to unfreeze it. I filed a complaint with their office over a month and half ago however, today they sent me an email advising me that the case has been closed. After I checked my account I found out that the freeze is still there and Im still not able to use my account. At this point, I dont really care to have this account. All I want is my money that I invested back. I invested over {$1000.00} on this account and I want that back. Please help me
Company Response:
State: MN
Zip: 55110
Submitted Via: Web
Date Sent: 2021-12-09
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-11-23
Issue: Managing, opening, or closing your mobile wallet account
Subissue:
Consumer Complaint: Re ; XXXX XXXX. On XX/XX/21 my order for XXXX coins was filled by Coinbase Trade ID # XXXX. Fill price was XXXX each coin, for a total of {$930.00} USD, which has since been removed from my account at Coinbase. On XX/XX/21 Coinbase removed/blocked access of my XXXX coins of XXXX. My XXXX coins and my {$930.00} USD are " Missing '' from my account. And by missing, I mean they are being withheld from me by Coinbase. There is NO monetary reflection of this transaction in my Coinbase account. I do have proof of this transaction in the form of a screenshot of my orders in my Coinbase Account. In short, Coinbase has taken, removed, stole ( without my consent ) my XXXX coins and or {$930.00}. This action taken by Coinbase is criminal.
Company Response:
State: MA
Zip: 026XX
Submitted Via: Web
Date Sent: 2021-11-23
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-11-23
Issue: Unexpected or other fees
Subissue:
Consumer Complaint: on Friday at XXXX pm I received an e-mail from XXXX that my Conversion from XXXX was unsuccessful. I have submitted a Case with XXXX on Sat, XX/XX/XXXX, XXXX XXXX I am concerned that XXXX is taking too long to fix the " glitch '' that occurred apparently I was not supposed to do this conversion because it was not intended. The balance before the glitch, which multiplied everyone 's balance by XXXX times, has been restored, but we are still unable to trade. XXXX. We are still waiting to hear if we can trade XXXX, and if this is fair practice by coinbase, given the length of time it has been. Thank you kindly
Company Response:
State: CA
Zip: 92869
Submitted Via: Web
Date Sent: 2021-11-23
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-11-23
Issue: Unauthorized transactions or other transaction problem
Subissue:
Consumer Complaint: This is in reference from transactions on XXXX XXXX before my account was locked with no explanation. I submitted XXXX emails to Coinbase with only " We are working on it '' generic responses. XXXX ) My transaction records do not match what was actually sold or withdrawn. XXXX ) Coinbase initiated a transaction in my account without my knowledge. XXXX ) I need reimbursement for all fees associated with transactions on XX/XX/XXXX that did not actually go through. XXXX ) I need my transaction records updated as to the actual sales on my account ( Delete the ones that were cancelled / altered ) XXXX ) Coinbase took {$21000.00} from my account without any consent or explanation. This happened to thousands of other people with no explanation. XXXX XXXX on XXXX and XXXX.
Company Response:
State: MA
Zip: 023XX
Submitted Via: Web
Date Sent: 2021-11-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-11-23
Issue: Problem when making payments
Subissue:
Consumer Complaint: On XX/XX/2021 I borrowed XXXX from Coinbase, through there new Borrow feature, just to see how it worked. I payed the loan back, XXXX days later, way before incurring any interest. When I clicked submit payment there was an alleged network error and I had to re-submit the payment XXXX times until it said that it went through. A day later I checked my bank statement and found out that XXXX had taken XXXX, XXXX times. When I submitted a complaint and evidence of the mistake, XXXX asked me for transaction records, when I provided them I was ghosted. This company has no problem putting people in financial jeopardy when they make a mistake and that is not ok. This company is too big for its own good and is XXXX over honest, hardworking people.
Company Response:
State: CO
Zip: 80302
Submitted Via: Web
Date Sent: 2021-11-23
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-11-22
Issue: Money was not available when promised
Subissue:
Consumer Complaint: XX/XX/XXXX I purchase XXXX XXXX shares of XXXX from www.coinbase.com. This costed a little over 1000 but resulted in over {$100000.00} because in XXXX days XXXX changed price and went from XXXX to to XXXX. I took screen shots to show what I earned. Then coinbase locked the accounts. Then coinbase changed the original shares brought to around 100,000 shares and put XXXX in in my account. Fraud. When I tried to cash out the money of over 100,000 it would not cash out it it locked up. I reported it to the sec.gov as well. I have all screen shots of earnnings, trying to cash out, cancellation messages and all.
Company Response:
State: GA
Zip: 30127
Submitted Via: Web
Date Sent: 2021-12-09
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-11-22
Issue: Wrong amount charged or received
Subissue:
Consumer Complaint: I made multiple transactions with Coinbase over 2/3 days. When I made these transactions with my card I was charged the amount in pounds, however when it showed up in my account it was in dollars. I did not notice this until I changed the currency used on the app to pounds. I have attached all of my transactions with Coinbase along with the transaction from my bank account ( XXXX XXXX. If you look at the times on the transactions you can see which related to each one.
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-11-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A