Date Received: 2021-08-25
Issue: Fraud or scam
Subissue:
Consumer Complaint: I was part in a XXXX internet scam. Funds were sent via the Coinbase crypto exchange to a wallet/address that was participating in a fraudulent activity. Per my basic understanding, it is Coinbase responsibility to verify the receiving wallet/assess is not participating in fraud, money laundering, XXXX activity etc. With a multi level process for this determination, I believe Coinbase should have rejected the transaction and is in breezy of their responsibilities to me asa a customer of their exchange. I contacted Coinbase and have not received a response.
Company Response:
State: FL
Zip: 32207
Submitted Via: Web
Date Sent: 2021-08-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-08-25
Issue: Fraud or scam
Subissue:
Consumer Complaint: My coinbase account was hacked on XX/XX/2021 around XXXX. The hackers sim swapped my phone number after I had changed my high security passcode with my phone provider XXXX XXXX by XXXX and secured all my devices. It seemed like an inside hacked to me. They were able to bypass my high security passcode and 6digit PIN. The hackers login in from a new IP address XXXX requested to reset a new password, so Coinbase gave the hackers a new password to log into my account on their brand new device without having to wait for 24 hours. Every time I requested to reset my password on my XXXX XXXX I had to wait 24 hours to reset a new password. If coinbase followed their own 24hour password reset protocol as stated in their website to any new devices my account would had been prevented from hackers. I was able to intercepted the hackers and disabled my account on XX/XX/XXXX around XXXX. But it was too late, as soon as the hackers was in my account they transferred all my XXXX to an external address. Date : XXXX XXXX XXXX PDT Amount : XXXX ETH ( $ XXXX ) Address : XXXX Date : XXXX XXXX XXXX PDT Amount : XXXX ETH ( $ XXXX ) Address : XXXX After they transferred all my ethereum, they also purchased {$4300.00} worth of Bitcoin from my linked bank account. They converted to ETH and transferred to an external address. Date : XXXX XXXX XXXX PDT Amount : XXXX ETH ( {$4000.00} ) Address : XXXX From the information Ive gathered, coinbase is very much at fault for what happened, because none of the above seemed to raise red flags, or triggered security measures to stop it from happening. Coinbase should had froze all my funds that was being transferred to an external address especially after I let them know that my account is compromised and I disabled it around XXXX knowing that was not my wallet. I emailed coinbase support asking them to freeze any transactions or withdrawals that was made around XXXX but did not a get a response back about the issue. I also filed formal complaint with coinbase on XX/XX/XXXX, and received a bot response required more time to investigate. Please help me get back my life saving and hard earned money. Thank you and looking forward to a resolution. XXXX XXXX
Company Response:
State: CA
Zip: 94530
Submitted Via: Web
Date Sent: 2021-08-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-08-25
Issue: Other transaction problem
Subissue:
Consumer Complaint: Coinbase is refusing to send my remaining balance back to me. Their portal was locked to only displaying XXXX and non US documents/addresses for several months with literally no indicated way to correct this. I finally found a way to contact their support and I was instructed to upload onerous sensitive PII ( personal identifying information ) in a context where there are public headline making massive corporate breaches all the time about {$38.00} of bitcoin just to " change the country. '' After uploading identity documents it still refused to allow me to transfer my own money to me and even specifically blocked sending it to my own already fully verified coinbase wallet address. Despite being instructed that I would be able to close my account and send the remaining deposit to an address of my choosing and that would be it, that failed. There is literally no XXXX issue over a transaction that doesnt even have a dollar value at current market prices of {$40.00}. This is like requiring your ID and physical home address to a shady corner store with busted security cameras that cant even display its menu properly XXXX see the top blue area what appears to be a graphical glitch in the uploaded pictures ) if you have the gall to ask for your change back.???????????????????????????????????????????? I work in finance and markets. Ive literally never had a single situation where it was necessary for a < {$50.00} transaction to return your own money to give this type of information not to mention when the accounts were already opened. It seems theyre intentionally trying to make it difficult to obtain your own client funds. Add to that theyve put an arbitrarily determined cap date on these at the end of the month. This is STEALING client money. Like many people I dont receive a mail statement for anything that would be sufficient for this. Its 2021. Ive also had repeated extreme problems with mail statements and people screwing with mail generally for years now. There are any number of transaction services that have had no prosecutorial/regulatory actions whatsoever for " lack of XXXX '' that absolutely dont require this information for a {$50.00} or less transaction not to mention everyday transactions occurring at businesses literally all over the planet and the US. Its such a small amount of money as far as the federal government is concerned it isnt even more than the federal protection for fraudulent credit card transactions and yet they want another digital transmission of all of the pieces of PII required for full on identity theft! Make it stop! This is in effect oppressive, terrifying and it doesnt make any sense whatsoever. Just give me MY money back and stop putting at risk XXXX knows how many clients who have patronized your business. Who exactly are people actually hiring that somehow think this makes risk adjusted sense or that it is in any way legitimately necessary? Even in this literal complaint at the top it says : Do not include personal information, such as your name, account number, address, Social Security number, etc. We may ask for some of this information later, to help the company identify you and your account. Maybe this complaint with the CFPB will be enough to figure out I am who I say I am when they already have more than the necessary information and theyll just send my money back to me like theyre supposed to. Thank XXXX theyre regulated so they wouldnt be stealing US citizens client funds by intentionally placing unnecessary illogical hurdles to returning their own money to them or placing their clients at increased risk unnecessarily ... ... ... ...
Company Response:
State: VA
Zip: 223XX
Submitted Via: Web
Date Sent: 2021-08-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-08-25
Issue: Fraud or scam
Subissue:
Consumer Complaint: On XX/XX/14 my Coinbase account was hacked. I alerted Coinbase and my account was locked and all my funds are missing XXXX including multiple charges to my bank account in the amount of {$600.00} as well. I have sent multiple emails and have yet to hear from anyone from Coinbase
Company Response:
State: MD
Zip: 210XX
Submitted Via: Web
Date Sent: 2021-08-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-08-25
Issue: Other service problem
Subissue:
Consumer Complaint: I opened a Coinbase account on XX/XX/2021 and they were offering a {$5.00} bonus ( to be credited in Bitcoin ) for verified new accounts. I completed the steps and received confirmation emails from Coinbase, including the statement " Your ID has been verified Your {$5.00} Bitcoin reward is on its way. In the mean time, you can add a payment method and start investing. '' I did start investing and funded the account, initially with {$150.00} and have since added more, and purchased cryptocurrencies on the platform. Coinbase has not delivered the promised bonus. I contacted Coinbase support and received a series of redundant, " templated '' messages, that say : " As previously mentioned to you, here are some possible reasons you didn't receive your {$5.00} in BTC : -You need to complete full ID verification. Go to https : //www.coinbase.com/settings/account-levels and make sure youve achieved the top level of verification ( all green checkmarks ) -Your account didn't meet our compliance-related criteria ( duplicate and fake accounts are ineligible for this reward ) Once you meet the requirements above, you should be eligible to receive BTC rewards. '' I have confirmed that all three levels of my account verification show as completed ( all green checkmarks ) and this is the only Coinbase account I have ever even attempted to open ; it isn't a duplicate or anything of that nature. I've replied with that information to Coinbase and asked that they advise what about my account might not be meeting their criteria so we can get it sorted out, but I simply get these canned responses back with no actual information and, it seems, no one actually looking into it. The same offer is still running and other users are complaining about this and other types of bonuses being offered by Coinbase but not delivered ( for example, XXXX XXXX XXXX and XXXX XXXX XXXX ). I realize that {$5.00} ( or about {$6.00} in value from XX/XX/XXXX to today due to the rising price of Bitcoin ) isn't a large amount and am more concerned that Coinbase seems to be scamming many customers, perhaps millions, by offering bonuses and not consistently paying them. At best, they appear to be hiding behind their own buggy AI system as if they do not have control or responsibility for it, all the while continuing to promise the bonus even while it's not being paid to many people who qualify. Thank you for looking into this issue of false advertising and fulfillment of bonuses promised by this financial platform, on behalf of all the users being scammed by it.
Company Response:
State: MA
Zip: 016XX
Submitted Via: Web
Date Sent: 2021-08-25
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-08-25
Issue: Fraud or scam
Subissue:
Consumer Complaint: A fraudster met me on social media and through XXXX, he shared his investment gains he made in Coinbase. He mentioned Coinbase is one of the most secure crypto storage and investment platform. With his guidance, I also invested in cryptocurrency not knowing my information was compromised. I did not authorize Coinbase to debit my funds to an unauthorized digital wallet. Coinbase, without any warnings about possible fraudulent activities of the digital wallet, moved my funds over to a scam organization. The transactions into Coinbase was part a cryptocurrency scam. I, as a consumer, did not receive the service that was promised or described by Coinbase. I tracked the downstream wallet, which has been flagged multiple times for fraud, and Coinbase ignored the problems and did not do anything to investigate or close the fraud wallet. When I contacted Coinbase, they simply ignored my complaint. Coinbase has a big loophole that makes easy for the scammer to do money laundering and allows scam sites to steal funds to their platforms. Such merchant contributed to fraudulent practices and did not have any safety precautions in place to protect myself and other consumers from this happening.
Company Response:
State: CA
Zip: 911XX
Submitted Via: Web
Date Sent: 2021-08-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-08-25
Issue: Unauthorized transactions or other transaction problem
Subissue:
Consumer Complaint: I transferred XXXX from XXXX to Coinbase on XXXX. I woke up on XXXX to find texts requesting an email address change I never requested. I immediately locked my account. I have been trying to regain access till this day without success. I have filed both initial ( case # XXXX ) and formal ( case # XXXX ) complaints with XXXX. All I have recieved are automated responses. The last response informed me they were closing my initial complaint and that I would not be allowed to reopen it. I have even filed a complaint with XXXX ( complaint # XXXX ).
Company Response:
State: IN
Zip: 46410
Submitted Via: Web
Date Sent: 2021-08-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-08-24
Issue: Fraud or scam
Subissue:
Consumer Complaint: To Whom it may concern on XX/XX/XXXX my Coinbase account was hacked/locked and after numerous emails and phone calls to Coinbase customer Service I have gotten nowhere. I was advised by Coinbase to change my password but when attempting to do so the link to reset my password is not coming though to my email. For the past 10 days I have been locked out from my account and gotten nothing but Robo- responses from them I had close to XXXX dollars in my account when it was compromised by Coinbase XXXX I have had my account for a year or so and just 2 days prior to my account being hacked by Coinbase I had reset my password and access to my account. They have been non- responsive and offered no solution, I had saved up the money for my sons first car and now I am not able to purchase a vehicle for him as he will be turning XXXX in a couple of weeks. Please contact me if possible
Company Response:
State: CA
Zip: 92808
Submitted Via: Web
Date Sent: 2021-08-24
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-08-24
Issue: Other service problem
Subissue:
Consumer Complaint: On XX/XX/2021 I submitted a support request to Coinbase ( coinbase.com ) in an attempt to regain access to my account there. After over half a year of emailing and multiple support/complaint case numbers, I still have not regained access to my account. I have attached all emails I sent/received Support case numbers : # XXXX, # XXXX Complaint numbers : # XXXX, # XXXX
Company Response:
State: MI
Zip: 48823
Submitted Via: Web
Date Sent: 2021-08-24
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-08-25
Issue: Fraud or scam
Subissue:
Consumer Complaint: Received a call today from someone who they said worked for Coinbase and saw someone was trying to login to my account from an unauthorized device. He asked for my 6 digit authentication code. Code was given, as he reassured me with a reference number that he was an actual representative for Coinbase. That person changed something in my account cause I received an email stating the 2-factor authentication was changed. I then see a withdrawal from my bank account to my email, which was {$1000.00} and used to buy bitcoin. I then disable my account. I have been emailing with support shortly, asking me to provide a selfie of me and my ID and to be sent to this site. I have not received anything from Coinbase regarding my account nor my money. I made my bank aware of the {$1000.00} transaction and filed a fraud claim. My bank is XXXX XXXX ( Massachusetts ). I have a total of around {$4000.00} linked to my account, in which these scammers had access to.
Company Response:
State: MA
Zip: 01960
Submitted Via: Web
Date Sent: 2021-08-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A