Date Received: 2021-10-05
Issue: Fraud or scam
Subissue:
Consumer Complaint: I was reaching out about a recent phishing attack through my email that caused a cybercriminal to withdraw around XXXX XXXX dollars from my coinbase account in which coinbase has since done nothing about. I understand there has been a series of cyberattacks against coinbase users and wanted to report my incident as well. There was an email sent that imitated coinbase and asked me to verify my account. Within minutes, my XXXX dollars was deducted. This incident occurred on Fri, XX/XX/XXXX at XXXX XXXX.
Company Response:
State: MD
Zip: 208XX
Submitted Via: Web
Date Sent: 2021-10-05
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-10-05
Issue: Other transaction problem
Subissue:
Consumer Complaint: On XX/XX/XXXX, my coinbase wallet was hacked and drained of {$10000.00} worth of Saitama coin and {$60.00} worth of ETH. This hack happened 4 hours after I connected my wallet to coinbase.com. I had all security measures set up in the wallet, ( seed phrases copied manually, 2FA enabled, and a pin code on the wallet ) the hacker was able to bypass all these security features, and I was never alerted of the transfer, even though I had 2FA setup. I believe the breach was done through coinbase.com after I connected the wallet, and none of the security worked. I trusted them to keep my money safe, and I used all security measures available to me, yet I was still hacked. My phone and my computer are clean and unmolested, which proves the hack came through the website. My case numbers with Coinbase are # XXXX and # XXXX. They have offered no resolution, and they're policy specifically states they will issue a refund if : " your account transaction is not authorized or allowed. '' Or " The account transaction is incorrect '' Both of these apply to my situation. This was my life savings, that I trusted them with to invest and protect. None of the security measures worked, yet they are taking no responsibility, and this exact situation has happened to many others in the past few months. Please help me.
Company Response:
State: FL
Zip: 33647
Submitted Via: Web
Date Sent: 2021-10-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-10-04
Issue: Fraud or scam
Subissue:
Consumer Complaint: On XX/XX/21 my phone lost service around XXXX I tried to turn phone off and on noticed that my phone still wasnt working I then proceeded to check my email and noticed password reset to my email and coinbase account using sms XXXX. After noticing what was going on immediately contacted former cell provider XXXX XXXX XXXX XXXX XXXX them to transfer back my number to my phone because it was an unauthorized transfer, and regained access around XXXX to my cellphone. I than email and called coinbase number to lock my account which they failed to do and allowed the pending transfer that was on temporary hold until XX/XX/21 from XX/XX/21 to XX/XX/21 Ive been in contact with coinbase support who admitted in email they noticed and unauthorized transactions stealing {$7000.00} out of my account and additional {$1000.00} from my bank and that it was my fault for not securing my information properly which is false I did secure all information. They also repeatedly blocked my email every time I responded to them. On XXXX coinbase reveal that there was a breach in the company dating back to XXXX and XXXX customers including myself was a victim to hacks by a bad actor and that they would refund customers affected. On XXXX I asked company for promised refund due to the company security flaw they denied security flaw and reimbursement and stated that it was my fault today on XXXX that my information was breached and that they wouldnt reimburse me. I think the company is stealing from the customers and trying to cover it up since they are not regulated.
Company Response:
State: FL
Zip: 33162
Submitted Via: Web
Date Sent: 2021-10-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-10-04
Issue: Other transaction problem
Subissue:
Consumer Complaint: I experienced a phishing email scam that said my Coinbase account was disabled then had my Coinbase account stolen from. The funds stolen from were worth around {$3400.00} at that time. I fell for the email phishing on my mobile device and put in my account information for Coinbase and my XXXX mail account. I contacted Coinbase the next day to see if they can cancel the transaction or reimburse me, which they said no to. I am both embarrassed and frustrated that I fell for this and was so careless, but I expected Coinbase to be able to resolve it because they had the transaction numbers and the IP address of the attacker.
Company Response:
State: OH
Zip: 452XX
Submitted Via: Web
Date Sent: 2021-10-04
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-10-04
Issue: Wrong amount charged or received
Subissue:
Consumer Complaint: My first complaint no. XXXX was closed by the company without a satisfactory solution. Coinbase received around XXXX BTC of mine from my XXXX XXXX in XX/XX/XXXX. The above amount never showed up on my Coinbase account, even though the transaction on the relevant blockchain proves that the money was transferred to Coinbase. In other words, Coinbase still owes me at today ( XXXX, 2021 ) about {$170000.00}, but they don't seem to care. Consumer protection should mean resolving these types of problems in a timely manner while considering the burdens and distress caused to the customers. I really wonder how much Coinbase cares about its customers.
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-10-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-10-03
Issue: Unauthorized transactions or other transaction problem
Subissue:
Consumer Complaint: I have had a Coinbase account since XXXX of XXXX. At that time, I bought several different cryptocurrencies. In early XXXX ( XXXX and XXXX ), I sold about half my holdings. After that, there was no activity on my account since I planned to be a long-term holder rather than a trader. Early this year, I transferred {$10000.00} into my coinbase account to buy a few cardano/ADA coins . Since then, there has been no activity until XX/XX/XXXX. Here is a summary of the events that transpired on XX/XX/XXXX. 1. At about XXXX XXXX., an email was sent to my XXXX address notifying me that the change had been instituted on the 2-factor authentication ( 2FA ) settings of my Coinbase account [ 1 ]. I should note that I do not use SMS notification for generating the 6-digit codes, since the literature states that these are less secure than dedicated authenticators. I use XXXX authenticator. I do not check my email very often, and therefore did not see this email until much later. No text was sent to my phone at this time. 2. At XXXX XXXX I received a text message on my phone stating that my 2FA settings had been changed and if I did not make these changes, I should freeze my account [ 2 ]. Since my phone alerts me when I get a text, I immediately responded to it, unlike the earlier email that I had not noticed. 3. I tried to log into my account using my XXXX XXXX laptop computer. My first two or three attempts to enter the 2FA code generated by my XXXX authenticator were not accepted. I found this puzzling and did not understand what was going on. Around XXXX XXXX, suddenly the XXXX authenticator-generated six digit code was accepted by my Coinbase account and I was able to get into my account. I found that my balance, which had been {$280000.00} earlier that day was now only {$0.00}. I placed a freeze on my account, even though the money had clearly already been moved out [ 3 ]. 4. From what I have been able to reconstruct, around XXXX XXXX, my account was accessed from IP address XXXX, using a XXXX device [ 4 ]. This IP address is located in XXXX XXXX, XXXX. I have never been to XXXX, do not know anyone in XXXX. I do not use a XXXX device and never have. Over the past 4 years that i have had a Coinbase account, I have never accessed it from outside the US. So this activity was clearly suspicious but Coinbase did not block further activity. XXXX. The hacker sent XXXX XXXX coins I owned to a wallet outside Coinbase ( XXXX : : : ucl : XXXX ) [ 5 ]. They then converted all my other altcoins to bitcoin [ 6 ] and transferred all the bitcoins that resulted from these transactions in addition to my own long held bitcoins to an outside wallet at XXXX XXXX ( XXXX ) [ 7 ]. 6. The hacker transferred {$1000.00} from my bank account at XXXX XXXX XXXX XXXX to the Coinbase account [ 8 ]. They bought XXXX BTC with this money [ 9 ] and immediately transferred the BTC to an external account [ 10 ]. This is counter to Coinbase regulations that cryptocurrency bought on an account can not be moved for 5 days. 7. I checked with XXXX XXXX, my cell phone service provider and they assure me that there is no evidence of a SIM-swap. The SIM card associated with my phone number is the one that is physically in my phone. Both XXXX and Coinbase accounts are protected by secure passwords that are unique to those sites. 2FA is used for both of these sites. I have checked the activity on my XXXX account and there has been no suspicious activity over the past 28 days [ 11 ]. 8. Coinbase refuses to take any responsibility for the hacking incident [ 12 ]. 9. I have kept my account locked since then. I have no idea what is happening in the account since I have not been able to get any further information from Coinbase. I have asked them to close out my account, but they have not done so, despite my repeatedly asking the to over the past several days [ 13 ].
Company Response:
State: DC
Zip: 20008
Submitted Via: Web
Date Sent: 2021-10-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-10-04
Issue: Other transaction problem
Subissue:
Consumer Complaint: On XX/XX/XXXX, I was notified by Coinbase via email of a transaction sending approximately XXXX XXXX ( {$1700.00} at the time ) to a XXXX wallet. I had two-factor SMS verification enabled on my account, and I had not received any text messages, so I thought I had nothing to worry about. My account was drained of my holdings. I informed Coinbase via email, but got only automated messages in response. I tried to call, but was informed that I had to be a Coinbase Pro member to get live service. I disabled my account at this point to avoid further issues. I reported the theft to my local police department, who investigated it to their best ability. I contacted my cell phone service provider to inquire as to whether my SIM had been hacked, and they answered that it had not. Only recently has news surfaced that Coinbase suffered a security breach that allowed for an actor or actors to subvert SMS account verification and steal funds from members. Supposedly, the latest known date of this breach was XX/XX/XXXX, after which Coinbase was able to correct the problem. Again, the date of the theft from my account was XX/XX/XXXX. Coinbase may be unaware of the fact that the theft extended beyond XX/XX/XXXX, but I have no way to contact the company directly to inform them of my problem.
Company Response:
State: PA
Zip: 160XX
Submitted Via: Web
Date Sent: 2021-10-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-10-02
Issue: Money was not available when promised
Subissue:
Consumer Complaint: Roughly one month ago, my account on Coinbase that I have been using for several years at this point was suddenly flagged for review without any reason or explanation. I have had almost no activity on the account since XXXX where I moved some funds around ( and had even more trouble with them that I went through CFPB to handle that time as well ) so I don't understand at all why they would suddenly flag my account. Since being flagged for review, absolutely nothing has happened for an entire month but my remaining funds of XXXX have effectively been locked for the entire period ( and also devalued by 20 % ) and continuing, support does nothing and gives no valid response, and repeated attempts at validating the account ( that has passed maximum tier XXXX procedures YEARS ago ) have been met with silence and ignorance. Attached copy-paste support response whose links I've all followed and revalidated DESPITE ALREADY BEING A FULLY VERIFIED CUSTOMER FOR YEARS. Nothing has happened since. I am unable to interact with any of my money on the platform and nothing is being done. Their support service is basically non-existent.
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-10-02
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-10-02
Issue: Fraud or scam
Subissue:
Consumer Complaint: Coinbase has consistently blocked me from accessing my account. I have sent a small amount of currency to show my bank is legitimate but they have not recognized this and I can get no further. Yes just want my money out of this dreadful company. They even tried to take money out of my bank account but I was fortunate that my bank blocked this. Please look into this for me. Thank you
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-10-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-09-30
Issue: Other transaction problem
Subissue:
Consumer Complaint: On XX/XX/2021, my Coinbase account was hacked using the SIM swap method. By gaining control of my cell phone the hackers were able gain access to my Coinbase account and stole {$4500.00} worth of XLM cryptocurrency by transferring it to an ( according to Coinbase ) to some unknown destination. Additionally, because I had overdraft protection from my bank linked to my Coinbase account, the hacker was able to transfer {$3500.00} to Coinbase account and purchase more cryptocurrency. I have been trying to recover the amount of cryptocurrency stolen from my Coinbase account since XX/XX/XXXX. I was able to recover {$3000.00} of the funds taken from my bank account because I altered my bank about the Hacking incident. Coinbase finally sent a response to my problem on XX/XX/2021 ; basically saying there is nothing they can do about recovering the {$45000.00} in XXXX cryptocurrency stolen from my account. In fact they now claim I owe them money because my bank reversed the funds the thief had stolen. Coinbase is a cryptocurrency exchanged used by millions of Americans and it should provide adequate security to protect its customers from hackers. Instead Coinbase does not accept any responsibility and says there is nothing that can be done ; the customer just out of luck! The CFPB should really investigate Coinbase to uncover the lack of online security protection it has to prevent hackers from gaining access to customer 's accounts and for the lack of accountability it has towards maintaining the assets in those accounts. I am sure there are many others like myself that have been victimized by Coinbase 's lack of concern.
Company Response:
State: FL
Zip: 33055
Submitted Via: Web
Date Sent: 2021-10-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A