Date Received: 2021-10-01
Issue: Money was not available when promised
Subissue:
Consumer Complaint: I have an account with Coinbase which I have held for many years. In early XXXX I tried to withdraw funds from the account. The Coinbase system came back with a message that said my account was restricted. I can deposit funds into the account. I can purchase additional products. I can't withdraw any funds. After 4 weeks and several attempts to send my ID over the secure link they are providing they continue to say they can read my ID and will not unlock my account. This has been going on since XX/XX/2021 and continues to today. THIS IS THE MESSAGE I GET BACK FROM THEM ( ) As we've checked your documents, it appears that you were able to upload your ID Selfie successfully. However, it seems that the ID you uploaded shows as blurry and we're unable to read it on our end. ) The case number is XXXX
Company Response:
State: GA
Zip: 30062
Submitted Via: Web
Date Sent: 2021-10-01
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-09-30
Issue: Other service problem
Subissue:
Consumer Complaint: Hi, I am writing in regards the technical issue with Coinbase crypto exchange platform causing a huge financial loss to me and other customers. On XXXX XX/XX/2021 XXXX listed the SHIB crypto on their CoinbasePro crypto currency trading platform, after listing SHIB crypto the CoinbasePro trading platform faced technical issue and dragging the price superficially up to 1000 % higher. This high price remained on the Coinbase Pro platform for more than 24 hours, anyone who purchased the SHIB crypto ( including me ) on XXXX XX/XX/2021 couldn't sell it and were locked with the high superficial price. On XXXX XXXX, CoinbasePro disabled deposits for SHIB to address a technical issue and then re-enabled deposits on XXXX XXXX which then dropped the price to 700 % lower. After seeing this massive price change I checked on other crypto exchanges and realized the price remained unchanged on other crypto exchanges and of SHIB crypto itself globally, the SHIB crypto price never went up that higher as on Coinbase. I feel Coinbase did not took appropriate action to protect customers trading on the platform, when the platform was not ready to fully support the SHIB coin trading, Coinbase shouldn't have enabled the trading. And when the CoinbasePro trading platform was experiencing technical issue and had to disable or restrict trading of this SHIB crypto, customers were was not notified about any of this issue. As Coinbase advertises it as a trusted platform for Crypto currency, I purchased the SHIB coin and did not compare the price on other exchanges. I don't feel Coinbase can be trusted however, as per the email sent to me from Coinbase support after opening a complain, they claim that " we do not guarantee continuous access or that there will be no delays, failures, errors, omissions or loss of transmitted information, nor do we guarantee that any Order will be executed, accepted, recorded, or remain open. " I wasn't aware that Coinbase can also isolate itself from the global market and allow the price to increase or decrease superficially of any crypto and also restrict customers from selling without informing the traders. I tired to reach Coinbase support throught their complain system and via twitter but no luck. They did not resolved my issue instead they sent me email that my complain is close as the issue has been resolved.
Company Response:
State: CA
Zip: 92620
Submitted Via: Web
Date Sent: 2021-09-30
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-09-30
Issue: Other transaction problem
Subissue:
Consumer Complaint: On XX/XX/XXXX i created coinbase account, deposited money from bank account, and couple days later they just restricted my account and disabled withdrawals. Since then zero help from their support, to this day i can't withdraw my funds
Company Response:
State: TX
Zip: 796XX
Submitted Via: Web
Date Sent: 2021-09-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-09-29
Issue: Money was not available when promised
Subissue:
Consumer Complaint: I opened an account with coinbase inc online at coinbase.com since XX/XX/2021 I have no more access to my funds. No matter how much correspondence I send to Coinbase to allow me access. No matter how many times i send them picture of my id and picture of me holding my id. Coinbase rejects my id verificatuon everytime, day after day since XX/XX/XXXX and on. I can not retreive my miney nor talk to anyone at coinbase. Its robbery with a digital excuse. Coinbase doesnt take phone calls or publish a customer service phone number, every communication to be done by email with a week for an answer. It continue on n on without resolution. TOTALLY DISLOCATED SUSYEM, ABUSIVE and SWALLOWS PEOPLES HARD EARNED MOMEY.
Company Response:
State: NY
Zip: 10016
Submitted Via: Web
Date Sent: 2021-10-08
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-09-30
Issue: Fraud or scam
Subissue:
Consumer Complaint: -- -- -- -- -- -- -- -- Dear CFPB, I'm desperate for help. My family and I have suffered from a huge financial loss. From XX/XX/XXXX to XX/XX/XXXX, I transferred seven times totaling $ XXXXUSD from wire transfer from my XXXX XXXX Checking Account into Coinbase Bank ( Coinbase 's Bank is XXXX XXXX XXXX ) because I was scammed by a fraudulent platform, XXXX ; Later, I learned that this was a scam. I fell for the scam because I thought that Coinbase is a very trustworthy company because of its great reputation. Therefore, I trusted Coinbase and gave in with all my life savings. Using the wallet transfer in Coinbase, I transferred all that money into a fraudulent platform ; Unexpectedly ( from the present perspective ), Coinbase gave no warning not only that this is a flagged-for-fraud wallet, but also a verified one. That means that Coinbase has an untrustworthy verification system, therefore betraying our trust. In a second, all my life savings are sent onto fraud, permanently losing it ( unless you help! ). I then reported this to the FBI, XXXX, and Coinbase. Most of them get little to no reply. For Coinbase 's reply, they DIDN'T CARE and directly tell us to complain to the FBI and states that they hold no responsibilities, although XXXX holds ALL responsibilities to this case ( separate report to CFPB ) including many others that were also scammed because of their naughty verification and system. I finally decided to request clearly to XXXX for a dispute of at least a partial amount for this case, but they refused. I also got all my personal information leaked ; Driver license and everything on it, are all leaked. I had to change my checking account ( I recently did so ). Please, CFPB, help recover our financial loss. Thank You! -- -- -- -- -- -- ---
Company Response:
State: WA
Zip: 98012
Submitted Via: Web
Date Sent: 2021-09-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-09-29
Issue: Fraud or scam
Subissue:
Consumer Complaint: On XX/XX/2021 from XXXX till XXXX XXXX, I was the victim of a multi-level fraud operation organized by hackers whose software somehow got onto my device ( laptop ) and the last time I logged into my Coinbase account, money first tried to be transferred in the full amount of approximately XXXX USD in the form of BTC, Dogecoin and Cardano cryptocurrencies. After Coinbase withdrew this transfer, the funds started transferring XXXX USD each for half an hour until there were no funds left in my account. In addition, the scammers withdrew approximately XXXX USD of the credit funds you provide to customers and your company requested me to return them, after which my account was blocked by you. I had nothing to do with this scheme, I was the victim of a hacker attack. Two-factor verification was not requested during the transfers to confirm them. I still have proof on my device, moreover, I have sent several requests to the FBI for investigation and my case is pending. The equivalent of XXXX ADA, XXXX DOGE and XXXX BTC was transferred from my wallet utilizing your services. Please take notice that my funds were transferred without my permission.
Company Response:
State: NY
Zip: 11364
Submitted Via: Web
Date Sent: 2021-09-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-09-29
Issue: Other transaction problem
Subissue:
Consumer Complaint: On XX/XX/21 my Coinbase.com account was compromised. The hacker logged in to my Coinbase account and sent XXXX XXXX and XXXX XXXX to their own wallet. The cash value was {$210000.00} USD. The Coinbase.com daily 'send ' limit on my account was {$1000.00}. Sending more than {$1000.00} in crypto should not have been possible. There were no emails, calls, or text messages from Coinbase asking for my approval. Coinbase has accepted zero responsibility for their role in this fraudulent use of my account and has offered zero help in the recovery of the stolen funds.
Company Response:
State: TN
Zip: 37064
Submitted Via: Web
Date Sent: 2021-09-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-09-29
Issue: Managing an account
Subissue: Banking errors
Consumer Complaint: On XX/XX/21, I loaded my Coinbase debit card with {$1000.00} and attempted to make a purchase at XXXX with it. Due to an issue, XXXX cancelled the transaction at the register and sent my money back immediately. However, Coinbase has not credited my account back yet. I have phone recordings proving that XXXX has sent Coinbase the refund, and that Coinbase admits that they received the refund from XXXX. Furthermore, Coinbase acknowledges that they have not credited my account with the missing {$1000.00}. I have attached one such recording to this complaint ( it is in a .zip file due to the XXXX limit ). When I call Coinbase, they keep escalating the case to an email-only team that never responds. Coinbase case numbers : # XXXX, # XXXX. I also have several " escalation '' numbers.
Company Response:
State: TX
Zip: 75024
Submitted Via: Web
Date Sent: 2021-09-29
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-09-29
Issue: Problem adding money
Subissue:
Consumer Complaint: Hello Funds of approximately .7 ETH were transferred to Coinbase on XX/XX/XXXX and were never received due to Coinbase not supporting the XXXX chain that the token was transferred through. However, the transaction was completed, meaning that Coinbase does have the funds, and can access and reverse the transaction through a more time consuming and difficult process -despite Coinbase providing that it is impossible. Because I understand that the process of retrieving the funds is difficult, I am willing to pay an additional surcharge ( up to 30 % ) if coinbase requires ( as I understand other exchanges have had a policy of ), for these funds to be retrieved. The transaction on XX/XX/XXXX was sent to the following coinbase address : XXXX, with this txid : XXXX Thank you
Company Response:
State: CA
Zip: 93535
Submitted Via: Web
Date Sent: 2021-09-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-09-28
Issue: Fraud or scam
Subissue:
Consumer Complaint: Hi I had wire transfer my money from my bank account to Coinbase to purchase ETH, and then I sent crypto to the name call XXXX investment app platform to earn money there, I have six transactions from Coinbase to this platform, total I was sent around {$260000.00} US dollars, and the the account of XXXX has money $ XXXXnow, when I try withdraw my money, they want my to pay the $ XXXXus dollars tax and upgrade my account to vip also need pay XXXX.. and after my family in my country pay those money, I still cant withdraw my money, I know it was a scammer fake investment platform, I never can take my money out.. and I also contact Coinbase to help my get my money back from the scammer wallet address XXXX But Coinbase rejected to help, looks like is not their responsibility to get customer money back, even though they konw its a scammer address, they dont do anything, they keep let other victims denting the money to the same wallet address after I did complain to the Coinbase,, thats one of biggest loopholes from Coinbase. It can easily transfer money to fake and illegal investment platform without permission. Coinbase need to take extra security measures to keep safety of my account..I want to get my money back, I have no idea what can I do now, I have no money to pay my loan and credit card, my bank rejected to do the fraud investigation for me, they says Coinbase is big company, and also Coinbase do nothing after I report fraud scammer, I need some help. And I also call logon police, and report to FBI, IC3 The scammer platform website XXXX IP address is XXXX Ps. The wallet still can receive money from Coinbase now.. My email is : XXXX Name : XXXX XXXX
Company Response:
State: MA
Zip: 021XX
Submitted Via: Web
Date Sent: 2021-09-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A