Date Received: 2021-11-15
Issue: Managing, opening, or closing your mobile wallet account
Subissue:
Consumer Complaint: The Consumer Financial Protection Bureau has jurisdiction over this matter because my claim pertains to a digital currency provider who has denied me access to my own funds. On or around XX/XX/XXXX I opened an account with XXXX to conduct lawful personal investment activities. On or around XX/XX/XXXX, my belongings and phone were stolen as evidenced by the police report. Due to the identity theft I have been unable to access my Coinbase account because my login access and passwords were associated with and stored on my phone that was stolen. I contacted coinbase by submitting an inquiry online, on or around XX/XX/XXXX, and to date, 90 days later they have still failed and refused to respond to my legitimate request. Coinbase is harming me by profiting off of the deprivation of access to my funds.
Company Response:
State: AZ
Zip: 852XX
Submitted Via: Web
Date Sent: 2021-11-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-11-15
Issue: Money was not available when promised
Subissue:
Consumer Complaint: I swapped phones over the weekend and lost access to my 2 factor authentication for coinbase. I have been locked out of my account and can not withdrawal or trade. It has been 48 hours that they have been holding me hostage and they have let me know it could last another 48 hours, costing me valuable time and money. There is no customer support or reason for this delay.
Company Response:
State: FL
Zip: 33133
Submitted Via: Web
Date Sent: 2021-11-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-11-15
Issue: Unexpected or other fees
Subissue:
Consumer Complaint: Regarding coinbase.com I have made dozens of purchases as an investment on coinbase. com.. Coin base is an investment platform that charges a fee for the purchase and sale of digital currency. They do not have any transparency with regard to the price at which I purchase and there fees for transacting my transacting my purchase. I believe they are both charging a fee for each transaction and skimming skimming my profits by it's by reducing reducing the actual number of shares that I purchase I'll be it in the tens or thousands of of cents per share. They do not provide any means for me to see the exact number of shares I purchase in any transaction along with the corresponding price per share at that time that the trade is executed. By not being transparent in this regard, I feel as though they are shaving my earnings and shares. They do not provide any means of means of customer service, only a directory of help topics. Neither telephone nor email support is not available. I have no means of obtaining an exact record of my sales and purchases and therefore no means to reconcile whether or not my transactions are executed properly.
Company Response:
State: CA
Zip: 91744
Submitted Via: Web
Date Sent: 2021-11-15
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-11-15
Issue: Unexpected or other fees
Subissue:
Consumer Complaint: On XX/XX/2021 at XXXX XXXX I transferred XXXX IOTX coins ( valued at {$190.00} at the time of transfer ) from my wallet in XXXX to my wallet in Coinbase with the intension of trading it in Coinbase to make some gains on my investment. According to XXXX the transaction was completed successfully. They give you what is called a transaction hash which allows you to click on a link that takes you to the transaction explorer in the IOTX network. I went to my Coinbase app to check my account and I noticed that my coins had not been received yet. I figured it would take some time because of traffic in the block chain. After some time I decided to check again and I noticed that coins were not there. I decided to do some research so I went to the transaction explorer in the IOTX network and noticed that the transaction was actually showing two different receiving addresses. One is called a Web.3 address and the other one is an IOTX address. The address that I got from Coinbase to receive the coins is the Web.3 address and that's the one I used to perform the transfer. The IOTX address that was created was created by the IOTX network because XXXX only handles native coins for IOTX and the reason why Coinbase gave me a Web.3 address is because they handle the IOTX coin in the ethereum base format. The issue here is that neither Coinbase, XXXX or XXXX ( which is the company that owns the IOTX coins ) made it clear for me to know that the coins had several formats and if I tried to transfer between exchanges that handled the different formats that the coins would get lost. The coins transferred from XXXX were in the native format and the coins handled by Coinbase are in ethereum base format. I believe that XXXX should put something in place that would block one format from being transferred to another place that handles a different format. But even though Coinbase says that the coins are lost, that is not true. The wallet that resides within the Coinbase network that holds those coins has the ability to hold both formats. According to XXXX the same wallet will hold them both and that is the reason why if you if you import the address into a different wallet you are able to see the coins. What I'm trying to accomplish here is to retrieve my coins. So I got in touch with Coinbase to see if they can enable the native IOTX coins so that I can transfer them into my own XXXX wallet and be able to manage them myself. But the only thing I have gotten from them from all my emails and tweets are automated messages and it seems that no one is willing to help me with this problem. If they can't help me retrieve my coins then they should reimburse the value of the coins at the current time because they have gained value since the transfer transaction happened. The value of the coins at the time of this complaint is {$320.00}. According to XXXX, the only one who can help with this issue is Coinbase so I would like Coinbase to fix this issue. Either help me retrieve my coins or pay me their value.
Company Response:
State: TN
Zip: 38401
Submitted Via: Web
Date Sent: 2021-11-15
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-11-14
Issue: Fraud or scam
Subissue:
Consumer Complaint: Company name coinbase one morning l woke up and somebody stole my money from coinbase account and XXXX from my XXXX XXXX XXXX card transfer on coinbase and stole on coinbase account then l contact with company they said somebody hacked account and stole money but that is not my fault or my problem they should have responsibilities on my money and they send me mail we wont refund your money l need this money and l have to pay my rent and nobody help me please help me thanks my totally lost XXXX
Company Response:
State: NY
Zip: 11226
Submitted Via: Web
Date Sent: 2021-11-14
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-11-13
Issue: Problem with a purchase or transfer
Subissue: Charged for a purchase or transfer you did not make with the card
Consumer Complaint: On the morning of XX/XX/2021, three unauthorized transactions appeared on my Coinbase Visa Debit card. This card is still in my physical possession. The transaction details are as follows : XX/XX/2021, XXXX XXXX EST, {$730.00} was charged to XXXX, a company based in XXXX, XXXX. XX/XX/2021, XXXX XXXX EST, {$740.00} was charged to XXXX, a company based in XXXX XXXX XXXX XXXX. XX/XX/2021, XXXX XXXX, {$730.00} was charged to XXXX, but declined due to insufficient funds remaining in my account. I would like the first two charges be refunded to my account for a total of {$1400.00}. The following is a timeline of my actions and Coinbase 's responses : I was made aware of the transactions when a notification appeared on my phone after the declined transaction at XXXX XXXX, XX/XX/2021. I immediately locked the card and declared it lost/stolen and attempted to contact Coinbase customer support. I found out that coinbase customer support works via email, rather than a live conversation. At XXXX, XX/XX/2021, I submitted a customer support ticket email detailing the fraudulent transactions and asking for help. At XXXX, XX/XX/2021, Coinbase customer support replied stating that I needed to resubmit my ticket and that the department I reached was unable to help with compromised cards. At XXXX XXXX, XX/XX/2021, I submitted new customer support tickets to multiple departments detailing the fraudulent transactions and asking for help. At XXXX, XXXX XXXX, Coinbase customer support replied asking for the transaction details. At XXXX, XX/XX/2021, I replied to Coinbase customer support and provided the transaction details. At XXXX, XX/XX/2021, Coinbase customer support replied stating that " this has been a known issue today '' and they have escalated the issue to the fraud team. After that, I asked for an update and received the same response. It is now XX/XX/XXXX and I have still not had the charges refunded and have lost a total of {$1400.00}. During this time period, I attempted to contact the two vendors, XXXX and XXXX to inform them of the fraud. I was informed by XXXX that they received numerous suspicious orders at the same time period and were working to cancel the orders. I also did an internet search for " Coinbase Debit Card Compromised '' and found that there were over XXXX comments across several posts discussing compromised coinbase debit cards. The most active discussion was on XX/XX/2021 and can be found here " https : //www.reddit.com/r/CoinBase/comments/q8zxda/gosselin_photo_web/ ''. There are over a XXXX comments discussing the same event. Unauthorized charges to " XXXX XXXX XXXX XXXX' appeared on an individuals coinbase debit card while the physical card was still in the individual 's possession. Based on my experience on XX/XX/2021, the conversation I had with the vendor XXXX, and the reddit post on XX/XX/2021, I believe XXXX has had at least one or two major security breaches that exposed the payment details of their customers. It has been almost 30 days since the reddit post on XX/XX/2021, however Coinbase has not published any information or warned their customers of this potential breach. I believe the public should be made aware of this before more theft occurs.
Company Response:
State: DE
Zip: 19711
Submitted Via: Web
Date Sent: 2021-11-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-11-13
Issue: Other transaction problem
Subissue:
Consumer Complaint: At XXXX central time, I was driving and got a phone call from XXXX. I answered with the XXXX in my truck. It was an automated message saying that someone was trying to change my Coinbase password. At the same time a text message came through asking for my 2 step authentication. Before I had time to do anything, I heard buttons being pressed on the other line. The call then ended and right after I got another call from the same number and another text message from coinbase. I pulled over at a gas station and saw that I had been logged out of my coinbase and XXXX apps. My password had been changed and I couldn't log back on. I called coinbase and told them what was happening. The costumer service wasn't very good. While I was on the phone I was looking through my emails, but I wasn't seeing anything new from coinbase, so I checked my spam folder. All of the emails about changing my password were in the spam folder, and so were 8 transactions : 6 transactions for {$2700.00} worth of bitcoin, 1 transaction of {$1000.00} worth of bitcoin and 1 transaction of {$950.00} worth of bitcoin, a total of {$18000.00}. Which is all the money that I had in my account. The emails for these transactions all took place at XXXX central time and the only information it showed was that the funds were all sent to XXXX which I assume is the hackers account number. I own a small business and I was on my way to give a quote on some XXXX XXXX, so I went and did that. When I got home I called coinbase again to see what could be done. He told me that the transactions had been made around the time of the emails and asked me when the last transactions were made by me, which was back in XXXX. It was obvious to me at that point in time that my coinbase account had been bled dry, so I was worried about my wellsfargo account that was linked to it. He told me that my coinbase account was frozen and that the hackers could no longer buy or sell. This was not the case, later that even around XXXX central time, I checked my XXXX XXXX account. {$1000.00} had just been withdrawn and was pending being sent to Coinbase. I immediately called my bank, marked it as fraud and froze my account. I will have to get all new cards and change my account number, but at least I was able to get that {$1000.00} back. Later that night at XXXX central I called the XXXX number, a woman answered and said she was with XXXX XXXX XXXX in XXXX XXXX I explained what happened to me earlier that day and she said, " Oh, you must have been scammed '' and then immediately hung up. I thought I was odd that she ended the call that way, so I had a friend call that number. She answered and said the college name and hung up again. Today I called the same number and nobody answers. I'm really hoping i gave enough info for someone to help me. Coinbase has done an investigation and pretty much told me everything I already figured out myself. I'm in the process of reactivation my coinbase account. Hopefully I can get more information about who stole the money or where it went. Another thing I'll add is that Coinbase was already hacked this year because of a flaw in the 2 step authentication, but they said the issue was fixed. It's pretty obvious to me that it was not, nor was my account frozen, because the hacker was able to try and take money from my bank. I can't help but feel like coinbase didn't help me in anyway, if anything, they made it easier for the hacker to get away by blocking me out of everything for 72 hours.
Company Response:
State: TX
Zip: 78613
Submitted Via: Web
Date Sent: 2021-11-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-11-13
Issue: Confusing or missing disclosures
Subissue:
Consumer Complaint: I bought XXXX XXXX from XXXX and after I buy I got valid wallet address for receiving from coinbase Exchange for XXXX XXXX and sent XXXX coins at that wallet address of coinbase. XXXX sent the coins and they got stuck at XXXX XXXX. CoinBase Now saying that there network is not supported to that wallet address. How can they say like this when they giving me wallet address for sending and receiving the coin.if their wallet not support they should not give wallet address for receiving/sending in their exchange. I can see my coins lying in XXXX XXXX but XXXX can not move them to Coinbase Wallet as their wallet address do not support. Like me there are hundreds of people also loosing money because of Coinbase Exchange Mistake. Please Help me to Resolve the issue with coinbase.
Company Response:
State: CA
Zip: 95380
Submitted Via: Web
Date Sent: 2021-11-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-11-12
Issue: Confusing or missing disclosures
Subissue:
Consumer Complaint: I have transferred some coins using exchange to coinbase.com into my digital wallet which was generated by them only. My coins has been transferred to that same digital wallet, now they are excusing in so many ways that this is not supported on their network. However the coin XXXX is listed as tradable on the website.
Company Response:
State: CA
Zip: 94087
Submitted Via: Web
Date Sent: 2021-12-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-11-12
Issue: Money was not available when promised
Subissue:
Consumer Complaint: On XXXX, I transferred SHIBA from my Coinbase Wallet to my Coinbase SHIB Wallet account, I paid the required fees as mentioned but still have not received my money in the SHIB Wallet of my Coinbase account, Have tried to send emails, call Coinbase, send all the pics and images but there has been no response and Coinbase in obstructing and holding my SHIB fund money without any update or response. If you can please help me recover my XXXX $ plus XXXX $ from Coinbase Wallet, this is the amount as of XXXX at XXXX, would really appreciate your help and prompt resolution Thank you Sincerely XXXX XXXX XXXX XXXX XXXX @ XXXX
Company Response:
State: CA
Zip: 92602
Submitted Via: Web
Date Sent: 2021-11-12
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A