Date Received: 2021-10-21
Issue: Other transaction problem
Subissue:
Consumer Complaint: On XX/XX/21 my Coinbase.com account was illegally accessed and all my funds were withdrawn by a hacker. There are thousands of other people who have experieced the same issue for far more loss than I. The bad security allowed someone to gain access to thousands of accounts. My loss was less than {$3000.00} but they also gain access to my personal checking account to withdraw funds through Coinbase. They must be stopped please.
Company Response:
State: NY
Zip: 117XX
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 transaction problem
Subissue:
Consumer Complaint: On XX/XX/2021, I discovered that my Coinbase and Coinbase-XXXX accounts had been compromised, and all available funds ( about {$21000.00} ), were taken. As there are no phone numbers to call, I promptly reported the incident on Coinbases website and received an email notifying me that my complaint was recorder as Case # XXXX ( Exhibit XXXX ). On XX/XX/2021, I received an email from Coinbase with the subject ; Case # XXXX - Complaint # XXXX, indicating that on XX/XX/2021, an email was sent to me requesting to reset my password ( Exhibit 2 ). I never received such request. It has been almost five months, getting close to half a year, since the incident was reported, and no resolution has been provided. The financial implications of the go beyond the loss of the account funds, as a result I will be facing are tax liabilities as well. I recently learned that Coinbase publicly acknowledged that at least 6,000 accounts were hacked due to a flaw in an internal process, and their funds were stolen during the time and in a manner like how my account was compromised ( Exhibit 3 ).
Company Response:
State: FL
Zip: 33071
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: Managing an account
Subissue: Deposits and withdrawals
Consumer Complaint: Dear, I'm XXXX resident and opened an account on Coinbase on XX/XX/XXXX of this year after identity verification. Coinbase revised once my account from XXXX and after more than one month I claimed it. Without providing any more documents, on XX/XX/XXXX I could use my account. Until today they didnt reply the checking standards. To my surprise a couple of days ago, they blocked again my account using the same excuse. After several emails, Coinbase support informed issue resolved but in fact still not. Until today I can not use it. The XXXX XXXX is very changable and if the operations are delayed I may lose a lot money. I strongly beg Coinbase to inform clearly : 1- What are their standards to check accounts? 2- How often do they check the same account? 3- How do they check accounts? Are they asking the users to provide some documents? If not, how do they revise the account? Hope to receive their reply asap. Many thanks and regards, XXXX XXXX
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
Date Received: 2021-10-20
Issue: Fraud or scam
Subissue:
Consumer Complaint: Dear Madam / Sir, In XX/XX/2021 I deposited USD XXXX via credit card to the company XXXX ( Accessily Receipt ). Then a certain XXXX XXXX XXXX called me and told me he had already earned XXXX EUR in Bitcoins for me, but I had to deposit a minimum of XXXX EUR to get a refund of my money + profit, which I refused. He then insulted me and threatened me with the police and prison, etc. I did not react to this anymore and it was quiet until XXXX. Then in XXXX a XXXX XXXX XXXX from XXXX called me and told me I had XXXX EUR in my bitcoin account at Coinbase. I told him that I only wanted my XXXX USD back. He then said it would be easy to get all XXXX EUR though, I just needed to deposit XXXX EUR because XXXX USD would be too small a capital investment for such a payout. I let myself be persuaded and deposited these XXXX EUR with his help, giving him access to my laptop with XXXX. XXXX XXXX was very friendly and guaranteed that I would receive XXXX EUR immediately. I never contacted XXXX myself until then and I had no contact with XXXX at all! After that I received the first e-mail from XXXX on XXXX, according to which I still had to deposit XXXX EUR, if not, it would be forwarded to the tax authorities and I would have to expect a penalty of XXXX EUR. That's when I got scared and deposited XXXX EUR with the help of XXXX XXXX ( using XXXX ). ( see e-mail among others ). When Coinbase then wanted another XXXX EUR for an insurance on XXXX, I could not pay it anymore. You can read for yourself in the e-mail correspondence below how it went on. Coinbase then also contacted me very often by phone to convince me to deposit the money. I then had my online banking blocked and went to the police to file a complaint. I never look backward except for learning, nor do I have a proclivity to blame others for my downfalls, however, I cant help but link this enormous loss with the trust I had instilled in XXXX, a regulated institution, XX/XX/2021 XXXX AM XXXX XXXX XXXX wrote : Dear Coin base Team, I decided to withdraw the full amount without insurance, because I do not have the requested funds for insurance. Please confirm by return that my funds are free for withdrawal. Kind regards, XXXX XXXX Am XXXX um XXXX schrieb XXXX XXXX XXXX XXXX : XXXX Dear XXXX XXXX, XXXX XXXX Thank you for your response. > > We understand and we apologize for this situation. However, as noted, this for your own safety and the safety of your funds. > > Unfortunately, that would not be possible. When the transactions are divided in several parts, the risk of them being stolen or followed are much higher. Therefore, we suggest that we make it XXXX whole transaction. XXXX XXXX Yours Faithfully, XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, XXXX XXXX XXXX XXXX, CA XXXX, United States XXXX XXXX Coinbase Support XXXX XXXX On XX/XX/2021 XXXX XXXX XXXX XXXX XXXX wrote : XXXX XXXX XXXX Dear Coinbase Team, XXXX XXXX Thanks for your e-mail. I would like to secure my transaction, but I only have XXXX EUR left on my bank account to cover the insurance. What amount of my funds can I get back safely for this insurance of XXXX EUR? >> >> Please reply immediately. XXXX XXXX Kind regards, XXXX XXXX XXXX XXXX XXXX XXXX Am XXXX um XXXX schrieb XXXX XXXX XXXX XXXX : XXXX Hello XXXX XXXX, XXXX XXXX Thank you for being our client and for following our rules and regulations. As promised in our previous encounter, the sum has been released and is available for a withdrawal. They are stored under a secured wallet address with an encryption. You are free to withdraw your funds. >>> >>> Nevertheless, with the recent situation regarding the Bitcoin Scandal with hackers, Coinbase and XXXX have taken extra steps to secure your funds and to insure your transaction. Until the situation is settled with XXXX and XXXX, we require each and every single client to insure their Bitcoin transactions with Bitcoin Theft Insurance ( Please see the attached links for reference ). >>> >>> Bitcoin Theft Insurance : >>> https : //www.coincover.com/theft/bitcoin-insurance # : ~ : text=is % 20Theft % 20Cover % 3F- , % E2 % 80 % 8B, time % 20and % 20date % 20of % 20theft. XXXX XXXX XXXX Theft article : XXXX https : XXXX XXXX XXXX In your case, you are withdrawing XXXX EUR onto your personal bank account. In order for us to secure your transaction you will have to place XXXX EUR on your personal XXXX wallet. The sum will of course will be returned to you together with the XXXX EUR onto your bank account as soon as it arrives. >>> In case of XXXX theft by hackers, the full sum will be reimbursed onto your personal account. Plus, the insurance sum, that you have placed onto your personal Coinbase account. XXXX XXXX Mrs.XXXX, we would kindly ask you to take this matter seriously. This is for your own safety and the safety of your capital in your bank as well as in your Coinbase account. In case of theft during the transaction, hackers might be able to get direct access to your personal bank details as well. >>> >>> Yours Faithfully, >>> >>> >>> XXXX XXXX XXXX XXXX XXXX, >>> >>> XXXX XXXX, CA XXXX, United States >>> >>> Coinbase Support >>> >>> >>> >>>> On XX/XX/2021 XXXX AM XXXX XXXX XXXX wrote : >>>> >>>> >>>> Dear Coinbase, >>>> >>>> I have done what you asked for, I have registered the money. I will be waiting for maximum 2 hours for the money to be available for a withdrawal. >>>> >>>> Kind Regards, >>>> >>>> XXXX XXXXr >>>> >>>> Am XXXX um XXXX schrieb XXXX XXXX XXXX XXXX : >>>>> Dear XXXX, >>>>> >>>>> Coinbase is a company that follows rules and regulations. We respect our clients and we are thankful that you have chosen our platform. We assure you that once all the mentioned points have been met. Your withdrawals will be opened, and you will be able to withdraw your funds. >>>>> >>>>> >>>>> Yours Faithfully, >>>>> >>>>> >>>>> XXXX XXXX XXXX XXXX XXXX, >>>>> >>>>> XXXX XXXX, CA XXXX, United States >>>>> >>>>> Coinbase Support >>>>> >>>>> >>>>>> On XX/XX/2021 XXXX AM XXXX XXXX XXXX wrote : >>>>>> >>>>>> >>>>>> Dear XXXX Team XXXX >>>>>> >>>>>> This was a shock for me. I was not expecting this situation. However, I have done what you have asked me, and hopefully the money will arrive tomorrow. If the money is not released within 2 hours, I will take this case to court. This is my last attempt, I am not going to take any further steps. >>>>>> >>>>>> Thank you and Kind Regards, >>>>>> >>>>>> XXXX XXXX >>>>>> >>>>>> Am XXXX um XXXX schrieb XXXX XXXX XXXX XXXX : >>>>>>> >>>>>>> >>>>>>> >>>>>>> >>>>>>> Hello XXXX XXXX, >>>>>>> >>>>>>> This is Coinbase Support Team. >>>>>>> >>>>>>> Thank you for using our services. >>>>>>> >>>>>>> Congratulations! you have successfully received XXXX XXXX ( XXXX EUR ) on your wallet. >>>>>>> >>>>>>> Withdrawal Status - Declined ( Account symbiosis not activated ). >>>>>>> >>>>>>> We have noted, that you made an attempt to rally your personal Bank Account XXXX Bank XXXX ) with your Coinbase account. First attempt was successful, however, the sum received from the third party is larger than the amount that has been received from your bank. >>>>>>> >>>>>>> In order to avoid blocking your funds and your bank account while making a withdrawal, you have to place XXXX EUR on your Coinbase account for registration.Once the process will occur, the funds will be cleared out and we will release the transfer. >>>>>>> >>>>>>> Guideline for safe withdrawals : >>>>>>> >>>>>>> Fund your Coinbase wallet with of the amount you are withdrawing ( which is XXXX EUR ) >>>>>>> Within XXXX hours you will receive a greenlight from the XXXX Department. >>>>>>> When you have the confirmation from Financial Department you can instantly withdraw XXXX EUR + XXXX EUR back to your bank account. >>>>>>> >>>>>>> >>>>>>> If the above-mentioned points are not met, the funds under your name will be frozen. The information will be passed to the financial institutions and a fine of XXXX EUR will be placed under your name for undeclared money. >>>>>>> >>>>>>> If you need some assistance, do not hesitate to contact us on this email. >>>>>>> >>>>>>> Please reply us here with the confirmation that you made a deposit of certain amount which was asked in Document and it was transferred to your Coinbase account so we can send you the full amount to your attached bank account. >>>>>>> >>>>>>> ( We do not take any responsibilities for unauthorized transactions ) >>>>>>> >>>>>>> Yours Faithfully, >>>>>>> >>>>>>> >>>>>>> 5XXXX XXXX XXXX XXXX XXXX, >>>>>>> >>>>>>> XXXX XXXX, CA XXXX, United States >>>>>>> >>>>>>> Coinbase Support >>>>>>> >>>>>>> >>>>>> >>>>> >>>>> Yours Faithfully, >>>>> >>>>> >>>>> XXXX XXXX XXXX XXXX XXXX, >>>>> >>>>> XXXX XXXX, CA XXXX, United States >>>>> >>>>> Coinbase Support >>>>> >>>> >>> >>> Yours Faithfully, >>> >>> >>> XXXX XXXX XXXX XXXX XXXX, >>> >>> XXXX XXXX, CA XXXX, United States >>> >>> Coinbase Support >>> >> > > Yours Faithfully, > > > XXXX XXXX XXXX XXXX XXXX, > > XXXX XXXX, CA XXXX, United States > > Coinbase Support >
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-10-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-10-20
Issue: Fraud or scam
Subissue:
Consumer Complaint: Good afternoon, From my coinbase wallet on XX/XX/XXXX {$20000.00} was taken I was told in order to receive my money back I need to pay another {$9000.00}. I was participating as I was told in mining Ethereum coin I was promised to 2 % of income on my deposit on the website XXXX Not at any given moment I gave permission for my money to be taken out of coinbase wallet. I tried to talk to customer service but they told me that my money are frozen and need to deposit more money in order to receive my money back. As for coinbase they have responded that the money are not insured by them.
Company Response:
State: GA
Zip: 30180
Submitted Via: Web
Date Sent: 2021-10-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-10-19
Issue: Other transaction problem
Subissue:
Consumer Complaint: I tried logging into my Coinbase account on XX/XX/XXXX to make a trade. However, when doing so I saw my XXXX balance showed {$0.00}. I knew this could not be the case as I had ~ {$9000.00} dollars worth of crypto on this account. I saw my account had funds in it up until XX/XX/XXXX. When trying to call the support line I was told that there was no account tied to my phone number. However, I could see in my account settings that my phone number is indeed tied to my account. I tried emailing Coinbase and got no response. I could not create a ticket for their support team as I was not getting emails from them. The only way I was able to get into contact with them was via XXXX DMs. This is absolutely absurd that the company couldn't be bothered to pick up the phone when so much money was in question. Long story short, I was able to get into contact with Coinbase support. I was told that my account had been hijacked and the attacker was able to circumvent Coinbases security, my phones two-factor authentication, as well as my email. I know that I never received any emails or text messages regarding this transaction. Support told me that the security of my account was all on me. This is fair however, I am a technologically savvy person and know I received no such correspondence. I have no idea how my account was breached in this manner. My main complaint ( aside from the obvious drain of my account ) is that it was impossible to get in contact with anyone from Coinbase until days after the initial incident took place.
Company Response:
State: TX
Zip: 76226
Submitted Via: Web
Date Sent: 2021-10-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-10-19
Issue: Money was not available when promised
Subissue:
Consumer Complaint: I got Bitcoin as a birthday gift back in highschool, and hadn't touched the account since. All of a sudden I decided to get into crypto, but they said my account was locked due to fraud reasons, so I sent my license and bank statement to prove my identity, and then they said they couldnt help me or give my funds back. They refuse to re enable my account. Coinbase is just horrible.
Company Response:
State: FL
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-10-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-10-18
Issue: Fraud or scam
Subissue:
Consumer Complaint: On XX/XX/XXXX, at around XXXX CST, my Coinbase account was hacked, and hacker stole {$16000.00} worth of Bitcoin ( XXXX Bitcoin ) by making XXXX outgoing transfers to outside wallets ( see Coinbase transaction log attached ). To do this, they reset my Coinbase password and changed my XXXX setting from a new device with IP address XXXX in XXXX XXXX ( see Coinbase activity log attached ). At this point, I was out locked out of my account completely because they changed my log-in credential and XXXX verification method. They then proceeded to convert all my coins into Bitcoin and made XXXX outgoing transfers in Bitcoin to outside wallets. This happened in matter of 18 minutes while I was sleeping, not hours, not days. Total lost = XXXX Bitcoin. I contacted Coinbase immediately about the fraudulent account access and unauthorized transactions when I checked my email and saw the fraudulent outgoing transfers. Coinbase acknowledged that my account was hacked but refused to reimburse the fund that was stolen from me. What is more outrageous is that the hacker used my bank account linked to Coinbase to purchase {$1000.00} worth of Bitcoin and I asked my bank to void the fraudulent transaction on XX/XX/XXXX. Now Coinbase is asking me to pay them because my bank did not pay for the transaction, as they should not. Per Coinbase password reset policy found at https : //help.coinbase.com/en/coinbase/managing-my-account/get-back-into-my-account/reset-my-password, Coinbase stated that : " As a security precaution, if you reset your password from a new device, you wont be able to send crypto from your account for up to 48 hours. To avoid this send restriction, request a password reset from a previously authorized device. '' Coinbase violated their own safety protocol as they allowed the hacker to reset my Coinbase password from a new device with IP address XXXX in XXXX XXXX and the hacker was able to make XXXX sends of cryto to outside wallet immediately after a password change from a new device. Coinbase did not follow their own policy of 48-hour waiting period as stated above after a password change from a new device. If they were to follow their own safety protocol, I would have time to see the fraudulent password reset and take action to secure my account to prevent fraudulent transactions. What is more troubling is that Coinbase system did not flag the 152 transactions performed in 18 minutes as fraudulent or suspicious activity. This is gross negligence from Coinbase and I'm asking Coinbase to take responsibility and reimburse my account for the lost fund.
Company Response:
State: TX
Zip: 77084
Submitted Via: Web
Date Sent: 2021-10-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-10-18
Issue: Money was not available when promised
Subissue:
Consumer Complaint: On XX/XX/21, Coinbase closed my account. It was immediately after I added an additional bank account that I have used in other exchanges without issue from a federal savings bank. Coinbase refused to give me any reasoning for the closure. My account is under my email : XXXX When I tried to login through their coinbase.com or the Coinbase XXXX site, both redirected me to a landing page to remove remaining funds from my account. The remaining funds listed were those remaining in my Coinbase account. However, what were missing were the funds that were in my Coinbase XXXX account. After repeated phone calls, and opening a support ticket, there have been absolutely no responses. They are holding my funds hostage that were on my Coinbase XXXX account. Coinbase Case # XXXX submitted XX/XX/21 These missing funds included XXXX DOT that was purchased on Coinbase XXXX, exact details below : Bought XXXX DOT ( XXXX XXXX ) at price $ XXXX. Fee {$21.00}. A total of {$4200.00} USD spent on XX/XX/21 XXXX XXXX. Additionally, there was a balance of Bitcoin ( approx. XXXX ) and a remaining balance of Ethereum ( approx. XXXX ETH ) that were also not listed in the remaining funds they allowed me to withdraw on XX/XX/XXXX.
Company Response:
State: CA
Zip: 90027
Submitted Via: Web
Date Sent: 2021-10-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-10-17
Issue: Fraud or scam
Subissue:
Consumer Complaint: On XX/XX/XXXX my Coinbase account was hacked. Upon noticing strange activity on my account ( I believe it was a phishing attach ), I immediately called Coinbase to lock my account. When I regained my account access days later, all but XXXX ( approximately XXXX ETH at the time ) was transferred to an unknown wallet. The attackers also purchased {$6400.00} worth of Bitcoin via ACH with my back account. As you can see from the attached image, only {$1000.00} would be available to trade immediately, while the rest could be moved off of Coinbase on XX/XX/XXXX. However, the attacker was able to make off with ALL of the funds. I then received notifications from Coinbase that I owed them for the XXXX the attached purchased fraudulently ( I had put a stop payment with my banking institution that day to prevent further theft ). After a few days, Coinbase seized what I had in staked ethereum to cover what I owed. I emailed supported asking why the hackers could move all of those funds on day one and received no response after multiple attempts. I believe I am owed {$5400.00} ( XXXX could be moved that day ) by Coinbase due to a serious flaw in their crypto transfer activities. Please help! I lost over {$12000.00} on the day of the hack and over {$6000.00} from money Coinbase seized.
Company Response:
State: FL
Zip: 33186
Submitted Via: Web
Date Sent: 2021-10-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A