Date Received: 2023-10-03
Issue: Fraud or scam
Subissue:
Consumer Complaint: We have deposited USD XXXX from bank to Coinbase and converted to crypto currency ( XXXX ). And transferred to some investment account ( XXXX ). We were not aware that XXXX XXXX was fraud/scam. Coinbase allowed our funds to transfer into XXXX wallet and also deducted fees. They suspend my account after all funds transferred to this scam account saying suspicious activity. If Coinbase was aware that XXXX was fraud or suspicious wallet, why they allowed to fall me into this scam to loss my money. I did 4 transactions as below. When I contacted to reverse my funds, they mentioned your account is suspended and didn't co-operate me. They have wallet details of the scammers. So they should refund my amount. Transaction from Coinbase wallet to XXXX wallet Transaction hash : XXXX 1 ) Date XXXX XX/XX/XXXX : {$1000.00} 2 ) Date XXXX XX/XX/XXXX : {$8000.00} 3 ) Date XXXX XX/XX/XXXX : {$5000.00} 4 ) Date XXXX XX/XX/XXXX : {$25000.00}
Company Response:
State: IN
Zip: 47201
Submitted Via: Web
Date Sent: 2023-10-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-09-29
Issue: Other transaction problem
Subissue:
Consumer Complaint: I had an account with Coinbase Pro. I forgot my password and kept trying to get in, but it always took me to Coinbase. After speaking with someone they told me my account was closed. And that everything was moved to Coinbase. I asked where the money was that was in my Coinbase Pro account, and they said they could see it but did not know how I could access it. They said they had to escalate the situation because they were not getting an answer. They explained I would receive an email in regards to this. That was days ago, and I have not received anything in response at all. I have no idea how long this account has been closed, they have made no effort to get any money to me, and I have been trying to get in for over a year now. The email address used is XXXX. That is the address associated with my Coinbase pro account that used to exist.
Company Response:
State: SC
Zip: 29615
Submitted Via: Web
Date Sent: 2023-09-29
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-09-26
Issue: Managing an account
Subissue: Funds not handled or disbursed as instructed
Consumer Complaint: So on XX/XX/XXXX and the XX/XX/XXXX I noticed some transactions I was disputing due to some ongoing issues at home with someone Im helping out. I filed the dispute promptly and not long after my account was restricted and I wasnt able to do anything. And then I come to find out that they wont release my account because somebody opened an account in my name. And they say I owe the money. Im not even sure this account was open but I just filed identity theft affidavit, a year and a half ago due to ongoing issues. I explained that to them before and they wont unrestrict my account until that account deleted. But I have no way of doing so. I disputed funds and I want this other account taken care of please
Company Response:
State: PA
Zip: 159XX
Submitted Via: Web
Date Sent: 2023-09-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-09-24
Issue: Confusing or missing disclosures
Subissue:
Consumer Complaint: XXXX XXXX XXXX My Coinbase account was suspended in XX/XX/. I filed my first inquiry on the suspension on XXXX XXXX XXXX followed up by another inquiry on XX/XX/. Although the Coinbase response said I would hear back in six days, I heard nothing until my call to Coinbase yesterday ( XXXX ). In that call I was told my account was terminated and the decision was final. An extremely troubling result. Some background : My account had been suspended previously before this suspension and then restored after review on XXXX XXXX XXXX After that I had been using the account with no trouble for nearly three months, including a break of six days since the last successful transfer. Everything went off without a hitch before that and then I returned to my account to find it restricted again. So far as I can tell nothing unusual occurred after the last transfer and in the six days of inactivity after it. It is extremely offensive to loyal customers like me to be told my account was terminated after review with no explanation of why just some vague allusions to security. I am asking for a further escalation and review of my account with the request that it be reactivated if possible. So far as I can tell, I did nothing wrong during the three months of smooth transactions and transfers from my Coinbase account before it was restricted and placed under review. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- P. S. Here is an excerpt from Coinbase 's Terms of Service agreement. As you can see it is totally one-sided if not unconscionable. " Termination We may terminate your access to and use of the Services, at our sole discretion, at any time and without notice to you. You may cancel your Account at any time by following the account closure instructions in the App. Upon any termination, discontinuation or cancellation of Services or your Account, ( i ) all rights and/or licenses granted to you under these Terms shall immediately cease and terminate and you shall forthwith cease the use and/or access of the App, Site, Services and Content in any way whatsoever ; and ( ii ) notwithstanding the foregoing, the following provisions will survive : Feedback, Content and Content Rights, Content Ownership, Responsibility and Removal ( save for the subsection Rights in Content Granted by XXXX XXXX ), Termination , Warranty Disclaimers, Indemnity, Limitation of Liability, Dispute Resolution, Arbitration Agreement, Class Action Waiver, and Jury Trial Waiver, and General Terms. ''
Company Response:
State: VT
Zip: 054XX
Submitted Via: Web
Date Sent: 2023-09-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-09-24
Issue: Money was not available when promised
Subissue:
Consumer Complaint: Good night. I describe the problem below. I have an account on Coinbase.com associated with the email XXXX, with which I am having access problems. They notified me from Coinbase, through emails, that I have to withdraw my funds until XX/XX/XXXX of this year. Yesterday and today, Saturday, I have been trying to log in repeatedly, through different web browsers, and I can not access it. When I log in to coinbase.com, it asks me for my access information, which it accepts correctly and directs me to an Updated User Contract, to which after accepting the contract I am directed to a 403 ERROR page. In this way, I do not I get to enter completely. I have tried to communicate, however, since I can not log in, I did not know how to ask the company for help. So, I researched the web and found that other users are having similar problems that are not being addressed effectively. I was also able to find information that some users received a response after going to the CFPB, which gave me a little peace of mind since time is passing and I am worried that I will not be able to resolve the problem until XX/XX/XXXX and they will block me completely.. I also went to https : //help.coinbase.com/en/contact-us, where through the wizard I have not been able to find a way to solve the problem. I read on XXXX, from the comment of the coinbasesupport account ( official Coinbase support account ) that on this site you can send a form with the claim case, but I did not find any form available to do so. Now, out of concern that XX/XX/XXXX will arrive, and knowing that there are users who are not getting responses from Coinbase until after weeks, and they block me completely on Coinbase, I come to you ( CFPB ) knowing that you have been very effective in helping other users to solve this same problem I have. And I thank you in advance. Note : I will attach screenshots of the problem and what I describe.
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2023-09-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-09-24
Issue: Fraud or scam
Subissue:
Consumer Complaint: After using the service for some time to do some minor investments over several years, this company decides to lock my account for no stated reason upon trying to do any withdrawls. They requested that I verify my government Id, which I did, but their system automatically refused it. This gives me the vibe of fraudelant activity by this company and I have read up on it since and indeed they are often guilty of such affairs. I hope to get this resolved but I suspect that based on their methods of operation that they are not in a rush to resolve this matter. I hope to see my funds soon, because in these economic times I can not sit around and wait for such childish handling of other 's money to resolve itself.
Company Response:
State: ID
Zip: 83401
Submitted Via: Web
Date Sent: 2023-09-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-09-21
Issue: Fraud or scam
Subissue:
Consumer Complaint: Commencing on or about XX/XX/2021, I fell victim to two multi-layered scam operations run by XXXX which involved me making deposits for a total amount of XXXX USD from my XXXX account to Coinbase Inc at the instructions of the scammers.
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2023-09-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-09-21
Issue: Other transaction problem
Subissue:
Consumer Complaint: ON XX/XX/2023 I put in a dispute on Coinbase for 8 four unauthorized charges of XXXX from XX/XX/2023, until XX/XX/2023 I have contacted Coinbase on several occasions last month and the month before for a refund of unauthorized charges. They said they had a problem refund my money due to a system error but they would refund it. They never refund the money so then I contacted my bank XXXX by XXXX XXXX, and put in a dispute and my bank restricted my account, which left me with no access to my money I feel my bank did not support me as a customer with zero fraudulent no tolerance due to the fact XXXX by XXXX XXXX, and Coinbase, our partners in the financial department that right there is already discrimination and discriminatory. However, I'm requesting that they pay me for those unauthorized charges that took place, and after putting in the dispute, they made anothe debit XX/XX/XXXX for XXXX so obviously XXXX by XXXX XXXX did not handle their business with Coinbase due to the fact your partners correctly and fairly I feel I was not treat ] fairly to ther terms and agreements
Company Response:
State: CA
Zip: 94605
Submitted Via: Web
Date Sent: 2023-09-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-09-20
Issue: Confusing or missing disclosures
Subissue:
Consumer Complaint: I scammed by my boyfriends advice. I used Coinbase to send my money to scammer website. But Coinbase XXXX help me to recover my amount like XXXX tools. All other cryptocurrency services help their customer. My money is still looking in scammer crypto wallet but they are not helping me. My a friend got back his money because he sent his amount on XXXX. Coinbase is not customer oriented service. Worst crypto service tool in US.
Company Response:
State: CA
Zip: 95391
Submitted Via: Web
Date Sent: 2023-09-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-09-18
Issue: Fraud or scam
Subissue:
Consumer Complaint: Coinbase locked my account for over 4-5 months for absolutely no reason. I asked, contacted multiple times to unlock, provided all requisite information etc. I needed to cash that money out 4-5mo ago. During that time, while they had my account locked FOR NO REASON, each currency dropped in value by at least 50 %. They even discontinued trading in one of the coins which has rendered it worthless and that was in XXXX - again - while they had me locked out with no explanation. All these losses were caused by Coinbase 's malfeasance and negligence. I think they are criminals. Here is a quick breakdown. Coin, Units, Value @ XX/XX/2023 lockout, Value Today XX/XX/2023, Loss Due to Coinbase Blur, XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Total Loss due to Coinbase illegal lockout XXXX What are my options?
Company Response:
State: NC
Zip: 28278
Submitted Via: Web
Date Sent: 2023-09-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A