Date Received: 2021-10-24
Issue: Fraud or scam
Subissue:
Consumer Complaint: Coinbase has received XXXX tokens which were directed by the developers to be distributed to participants who participated in the XXXX XXXX XXXX. It uses the same infrastructure and method of airdrop as the XXXX token which Coinbase publicly announced that they will support it. The XXXX and XXXX XXXX are 2 XXXX using the exact same infrastructure and method of distribution from the same developers but Coinbase is claiming that they can not distribute it because the infrastructure does not support it ( blatant lie ). Coinbase is currently holding millions of dollars worth of XXXX tokens from their rightful owners.
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-10-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-10-25
Issue: Fraud or scam
Subissue:
Consumer Complaint: I opened a Coinbase.com account on XX/XX/XXXX and purchased {$9000.00} worth of crypto currency and another {$1000.00} on XX/XX/XXXX. On the morning of XX/XX/XXXX my Coinbase, XXXX, and XXXX email accounts were all fraudulently accessed and compromised at approximately XXXX EST. I checked my phone approximately XXXX and had text alerts from both Coinbase ( XXXX ) and XXXX that my passwords had been changed and an email from XXXX alerting me that my email account was accessed by someone from XXXX. The following is the chain of events that transpired on the morning of XX/XX/XXXX : - Approximately XXXX I contacted Coinbase to freeze my account. They were unable to provide me any information on my account. I was unable to reset my password because I was not receiving emails from Coinbase in my XXXX account. Coinbase provides no phone support and only processes account reset via email. The text alert I received from Coinbase was at XXXX notifying me that my password had been changed. - Immediately after contacting Coinbase I contacted XXXX from my landline because I had no service on my mobile phone. XXXX informed me that my password had been changed and they had changed my SIM card. This allowed the fraud to respond to any alert from Coinbase. - I changed the passwords to all my accounts and searched my XXXX account and found the frauds had set a filter blocking any email from coinbase.com - I opened a case with Coinbase ( # XXXX ) using another email- I began the password reset and account access process with Coinbase. Upon waiting approximately 48 hours I was finally able to access my account and determine all my funds were stolen. - Between XXXX PST on XX/XX/XXXX the frauds processed 129 transactions sending funds to an account I am not associated with. There are log records to show this activity. - Through multiple emails Coinbase informed me they do not attempt to recover funds or reimburse fraudulent activity despite allowing the frauds to chanege both my password and multi-factor authentication - Filed a complaint with Coinbase ( # XXXX ) on XX/XX/XXXX - Filed a police report with the Florida XXXX XXXX XXXX Sheriffs Office ( # XXXX ) on XX/XX/XXXX - Filed a complaint with the OCC XX/XX/XXXX I believe Coinbase negligence and lack of fraud controls is what allowed the fraud to occur on my account. The activity on my account had multiple fraud indicators and Coinbase did nothing to delay or prevent the movement of funds from my account. Individually, each transaction would be considered high-risk. However, taken collectively it was a clear indication of fraud whereas if Coinbase had any detection strategies the activity would have been detected and my loss prevented. The fraud triggers included : - Change of password and multi-factor authentication at XXXX EST - Immediate movement of funds after password change - 129 separate transactions within 20 minutes immediately after a password change with no history of any sale or movement of funds - Funds sent to account not on file and not used for funding the account and had no personally identifiable information relating to me on file As someone who has spent nearly 30 years in bank fraud there are tools available to detect and prevent this type of activity. There are also tools to ensure sending and receiving client information matches. Coinbase was negligent in providing any detection and prevention of fraud costing me what is currently over {$15000.00}. Additionally, their total lack of accountability for their negligence in refusing to reimburse my losses is indicative of their mismanagement from the executive level on down as to how they secure their environment and protect their customers information.
Company Response:
State: PA
Zip: 19348
Submitted Via: Web
Date Sent: 2021-10-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-10-23
Issue: Managing, opening, or closing your mobile wallet account
Subissue:
Consumer Complaint: No matter how many times I send them " tickets '' they refuse to answer the basic questions I have or even read the questions I asked. They simply send a link to whatever subject they decide to and then close the ticket without answering or solving ANYTHING. I've had no access to my account for YEARS and all they do is create another procedure I have to follow, change another rule or add two more steps I can't comply with to prevent me from gaining access. Or they simply send the wrong info and close the ticket. No matter how many times I tell them I CAN NOT LOGIN they simply send a link for instructions on changing passwords, etc that ALL START WITH " LOGIN. '' They've simply create a never-ending loop that can't be broken as long as they refuse to read the issues, and continue sending irrelevant links and closing the tickets. And since there is no phone support or direct support with a real person at any stage, I am forced to just keep putting up with whatever stupidity they decide to throw out next. I have even tried asking how to direct my attorney to deal with them and they simply send more links that I can't follow and not answer the question. It was my understanding that they are REQUIRED to provide legal information, but even if that's true, I don't see why they'd start complying now. They have made problems where there were none, and refused to answer the most basic questions. The last time we went through all this they said the phone number I signed up with when I opened the Coinbase account was no longer useable ( even though they continue to send 2fa codes to that same number even today ) and claimed I had to open yet ANOTHER account to access MY funds. I played along and attempted to do so and they refuse to help with that. It got as far as opening it and then they said I had a 2fa problem AGAIN when I was actually in the account and trying to make a transaction. No amount of trying to explain that was able to penetrate the thick skulls of the CS reps, asnd thus they continued to claim it was a 2fa problem. Eventually we moved into identification territory. They claimed that my ID had not been verified, even though I'm an existing account holder, but when I was directed to re-submit ID verification I was unable to LOGIN ( which EVERY SINGLE PROCEDURE REQUIRES AS STEP 1 ) and they refuse to do anything except continue to send links for instructions I can't follow.
Company Response:
State: AL
Zip: 356XX
Submitted Via: Web
Date Sent: 2021-10-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-10-22
Issue: Other service problem
Subissue:
Consumer Complaint: I have a Coinbase and Coinbase XXXX account. I bought a new phone. Evidently, a new phone is not recognized by the site. I have been logged out of my account for 4 days now. I have tried to contact the company, but they don't have any live customer support. I have sent multiple emails. The response is tepid at best. I get form notes from some customer service, but none that solve my problem. It would seem you should not be able to operate a company that is dealing w so much $ without having the ability to answer questions and give customers access to their accounts
Company Response:
State: NY
Zip: 10583
Submitted Via: Web
Date Sent: 2021-10-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-10-22
Issue: Other service problem
Subissue:
Consumer Complaint: On Monday XX/XX/2021 I was locked out of my coinbase wallet account. I had a secondary backup on the XXXX and the wallet application did not recognize my backup. At that point, I had roughly {$11000.00} in the wallet, and currently there is about {$50000.00}. I was in contact with coinbase support off and on for over a week until they finally told me that there was no way for them to reset my account or for me to regain access to my account. I have a lot of money in there and I just want the wallet unlocked or the money back.
Company Response:
State: NY
Zip: 133XX
Submitted Via: Web
Date Sent: 2021-10-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-10-22
Issue: Fraud or scam
Subissue:
Consumer Complaint: Someone persuaded me to invest money in coinbase. The money disappear in the account of coinbase. Coinbase did not give me any response after. I am asking for a refund.
Company Response:
State: MA
Zip: 02176
Submitted Via: Web
Date Sent: 2021-10-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-10-22
Issue: Other transaction problem
Subissue:
Consumer Complaint: I have been using my same coinbase account since XXXX. In late XXXX buys were locked on my account and I submitted a ticket on XX/XX/XXXX ( Case # XXXX ), the issue wasn't resolved for three whole months, they didn't even respond to my initial ticket until XX/XX/XXXX. However, my purchasing/depositing abilities were restored and up until now, I have been using the platform with no issues. However, two weeks ago, buys/deposits were randomly disabled on my account again with no explanation. I submitted a ticket ( Case # XXXX ) on XX/XX/XXXX and now support is claiming that I am BOTH not eligible to purchase crypto AND my account isn't eligible for a review until the end of XXXX ( XX/XX/XXXX ). They also explicitly state that they " are not able to elaborate on this decision-making process. '' They have restricted my account with no rhyme or reason and it is now virtually unusable.
Company Response:
State: OR
Zip: 972XX
Submitted Via: Web
Date Sent: 2021-10-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-10-22
Issue: Fraud or scam
Subissue:
Consumer Complaint: On XX/XX/2021 around XXXX i tried to use my cell phone but it did not dial out. I called my cell phone company T mobile and they told me that someone transfered my phone number to Metro Pc wireless phone company. T mobile Supervisor conntected Metro Pc and explaind to them that my number was hacked and transferred to them without my authorization. T mobile was able to retrieve my phone number from Matro pc aer 2 hours and reactivated my number XXXX once again. Right aer that happened i could not sign in to my yahoo email, my Coinbase investment account or Binance us investment account. I contacty yahoo and they did reset my password. I tried to call Coinbase and XXXX but they do not have customer service phone numbers. I did search this companies emails and sent them emails letting them that someone hacked my cell number and i am not able to sign in and requested that they freeze my accounts and not to accept any transactions. Coinbase and XXXX investment were very slow to act and took time responding to my emails. On XX/XX/2021 i called XXXX and XXXX bank and found out that there is unauthorized transactions from Coinbase and from XXXX XXXX. XXXX and XXXX is conducting investigations. On XX/XX/2021 found more unauthorized transactions at XXXX bank by Coinbase and by XXXX. I been sending several emails to Coinbase asking them to refund my money but they refused and they keep sending me emails that the case is closed and final.
Company Response:
State: CA
Zip: 95129
Submitted Via: Web
Date Sent: 2021-10-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-10-21
Issue: Other transaction problem
Subissue:
Consumer Complaint: On XXXX I had my Coinbase compromised. I woke up to notifications from my bank about multiple overdrafts from transactions from Coinbase. I tried to sign into my account and was unable to. My bank was able to resolve the issue within 20 minutes. Coinbase was a whole different story. There phone number is a dead end. I submitted a ticket as recommended. In that mean time I was able to get a response from their social media team with a response that my claim was taken in. No response for claim # XXXX till XXXX in the afternoon. This issue could have been solved in 20 minutes over the phone. Instead we went back and forth over emails from XXXX. They made me jump through multiple hoops to " recover my account ''. Photo verifications, selfies with notes on it with the day. Really ridiculous. Finally was able to unlock my account and they transferred my funds into the new email I used. Well after all that back and forth for days my account that had about {$5000.00} in cypto was drained out to {$24.00} dollars. Literally they had me go through all that when I could have made a new account in 5 minutes. Coinbase is the only account I have that I receive phishing texts and emails. In those emails they sent me they were quick to blame me. Literally all that money was drained out in minutes at XXXX XXXX You'd think that would raise a red flag especially when a hacker could get into my account and change my password and phone so I get no notifications. This has been a complete nightmare and coinbases idea of customer service is horrible. Their security is horrible. Literally trusted this company thinking I'd be safe and got screwed over. The emails I received pretty much told me to kick rocks.
Company Response:
State: NV
Zip: 89117
Submitted Via: Web
Date Sent: 2021-10-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-10-21
Issue: Other service problem
Subissue:
Consumer Complaint: Since XX/XX/2021, when I made the last transaction in my Coinbase account, I got the message : account in verification. 3 months have passed since that day and my account is not yet verified, I can not withdraw, add or move cryptos. I contacted the company and they told me that it would be solved shortly and not to send that claim again. Since the company has not solved it for me yet, I have looked at possible solutions online, they have not solved anything for me. until I get to this website thanks to a forum. I need a help now. I need to move those cryptos. I hope you can solve it. Thanks greetings.
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-10-21
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A