Date Received: 2021-08-17
Issue: Other transaction problem
Subissue:
Consumer Complaint: Me account bloqued without reason.
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-08-17
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-08-16
Issue: Managing, opening, or closing your mobile wallet account
Subissue:
Consumer Complaint: Filed previous complaint with CFPB against coinbase for inability to access account. I had been locked out of my account for over 3 months. Previous complaint was resolved with ability to access my account restored. That ability lasted about two weeks and then access has been denied me again with coinbase requiring me to give proof of my identity which I did as requested. They were supposed to respond within 48-72 hours it has been over a week now and I still do not have access to my account. They have sent an email saying the case is closed. I still do not have access to my account as of XX/XX/2021.
Company Response:
State: TX
Zip: 78759
Submitted Via: Web
Date Sent: 2021-08-16
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-08-16
Issue: Money was not available when promised
Subissue:
Consumer Complaint: On XX/XX/2021 I called GDAX phone number which I found on line and an agent of GDAX/Coinbase moved my investments from coinbase to coinbase pro along with {$4000.00} from my bank. He also was suppose to moved my investment from XXXX XXXX to coinbase but only moved one. During the same month I noticed that my default portfolio was just around $ XXXX when my portfolio account should have been around {$20000.00}. I have informed Coinbase using their help/support ( XXXX ) section of my concerns and what needs to be done to fix this discrepancy. To date I received a number of case numbers of which none solved my concerns, I then contacted their complaint department ( XXXX ) who indicated taht they would let me know the out come in 15 working days. At the end of that period I received no resolution but instead they asked for another 20 working days. I objected to this continued extension/delaying tactics asking them to provide a resolution within 5 working days which end this Friday. All I need from Coinbase are : 1. to use my account as I see fit 2. what happened to my investment and the {$4000.00} that was withdrawn from my bank that was moved from coinbase to coinbase pro. 3. why is my default portfolio showing less that {$1.00} when my balance should be closer to {$20000.00} 4. why is my account showing {$0.00} when I try to withdraw or transfer coinbase pro to coinbase?
Company Response:
State: FL
Zip: 32837
Submitted Via: Web
Date Sent: 2021-08-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-08-16
Issue: Managing an account
Subissue: Problem making or receiving payments
Consumer Complaint: In XX/XX/XXXX I opened a cryptocurrency account with COINBASE and bought : Ethereum XXXX ETH on XX/XX/XXXX XXXX XXXX XXXX on XX/XX/XXXX I hadn't had any problems until XX/XX/XXXX I received an email saying my account was under review for a few days. Time passed and the account status did not change. I could not trade, buy, sell, assign a payment method. I have made numerous complaints to the COIBASE support service sinceXX/XX/XXXX, I have even sent again, verification of documentation required for my identification without any favourable result. I open the incidents, they reply automatically saying that they receive the case, but they close it without resolution. And so on and on and on until now. The last request has been XX/XX/XXXXand the case has been closed XX/XX/XXXX with the same answer, closing the issue and it hasn't resolved ( Case # XXXX ). This is because i'm writing to you. I have many cases closed : Case # XXXX, # XXXX, # XXXX, # XXXX and more. Could you please mediate, so that I can sell my cryptocurrencies and recover my investment? Thank you in advance, XXXX XXXX
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-08-16
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-08-16
Issue: Fraud or scam
Subissue:
Consumer Complaint: i opened a coinbase account because i thought the company was reliable i have receipts of me sending money into my coinbase account i sent several hundred dollars into the account so there is money in there but im not getting access to it coinbase has pretty much taken my money and will not give it back the username of my account is XXXX and i funded the account from the bank account in America its ACH so i can see when i put the money in
Company Response:
State: NJ
Zip: 07631
Submitted Via: Web
Date Sent: 2021-08-16
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-08-15
Issue: Money was not available when promised
Subissue:
Consumer Complaint: Coinbase has locked me out of my account for approximately one month, which includes approximately {$1400.00} in my wealth. I have been locked out of this account despite filing a CFPB complaint on XX/XX/2021 ( XXXX ). As I mentioned in that complaint, I no longer have access to the email address on file with Coinbase ( XXXX ). The only reason I had to use that email address for my credentials is due to Coinbase erroneously trading XXXX on my account ( XXXX filed on XX/XX/201 - this error was never actually resolved, and the company blatantly lied/ignored that I did not place a trade that ended up costing me money ) and subsequently locking me out of my account when I attempted to reach customer service ( apparently attempting to contact the company is grounds for freezing accounts, which is awful customer service ). At this point, I can not access my account, which has implications such as : - My wealth being tied up in cash when it should and would be deployed into appreciating assets otherwise - My inability moving forward to access tax documents pertaining to realized gains/losses on Coinbase crypto trades, which will hamper my ability to accurately file taxes with the IRS At this point, I know the company is terrible - but I am asking that I once and for all get access to my own wealth. When that happens and I can move my funds off the platform, Coinbase won't have to ever hear from me again ( as I will never use this company again ). If I am not promptly contacted via phone ( XXXX ) or my actual, current email address ( XXXX ), I will continue filing CFPB complaints every month, I will seek legal action via class action lawsuits, and I will do everything in my power to let everyone in my network understand the issues with Coinbase ( and subsequently why they should use competitors, such as XXXX, XXXX, etc. ). To be abundantly clear, this means that the typical non-sense " help '' email from Coinbase to an email account I can not access is not an acceptable outcome, nor is it even a resolution in any sense of the word. Coinbase should be ashamed and embarrassed by the customer service deficiencies that have become glaringly obvious over the past years.
Company Response:
State: KY
Zip: 410XX
Submitted Via: Web
Date Sent: 2021-08-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-08-15
Issue: Other transaction problem
Subissue:
Consumer Complaint: COINBASE. I have been using this app to trade with virtual currency and after using it for several months this message appeared suddenly : " YOUR ACCOUNT IS CURRENTLY BEING REVIEWED AND WE NEED SOME TIME TO VERIFY YOUR INFO. DURING THIS REVIEW, YOU WON'T BE ABLE TO USE COINBASE. REVIEWS GENERALLY TAKE A FEW DAYS, SO SIGN IN EVERY DAY OR TWO TO CHECK YOUR STATUS '' It has been over three months ( not just a few days ) that i havent been able to use my account therefore I can not get my money back because my account is always being reviewed. This company, COINBASE, is reviwing my account after it had already been verified and properly working, so now I do not have access to my money. Do please help me to get my money back because they are my savings. If I can not use the app I should be able to get back my money so please I would very much appreciate your help.
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-08-15
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-08-15
Issue: Unauthorized transactions or other transaction problem
Subissue:
Consumer Complaint: On XX/XX/2021 I was transferring XXXX lite coins which is {$4500.00} to a Coinbase Wallet. When I selected the XXXX wallet to copy the address, Coinbase gave me with this wallet address XXXX when I later discovered the correct address they were supposed to provide was XXXX. Instead of Coinbase rejecting the transaction they sent funds to When I sent the funds to the wallet I never saw them appear. So I did another transaction for {$500.00} and this one appeared. I immediately reached out to Coinbase and the only thing they would tell me is that my funds could not be recovered. I am able to view the funds to an address XXXX no one owns and continues to tell me that my funds are lost forever. Coinbase has since rejected my emails when I question what will happen to the funds in the wallet if they are never claimed. Block transaction is XXXX. XXXX is actively stealing from consumers and something needs to be done about it.
Company Response:
State: AL
Zip: 365XX
Submitted Via: Web
Date Sent: 2021-09-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-08-13
Issue: Fraud or scam
Subissue:
Consumer Complaint: I was unable to access my account on the morning of XX/XX/XXXX as the market was tanking. This event re. Coinbase was widely reported across major financial media on that day and in subsequent days. I also had trouble selling in the days after when prices recovered a bit and had no problem later on when prices went down. I also was unable to withdraw money on that day and in later days. Numerous slow emails back and forth to their " support '' were not terribly fruitful and I did file a formal complaint. Their " formal complaint '' process dragged on for the last almost two months and I did receive an email from their Chief Complaint Officer or something like that admitting some measure of fault and offered me ( and indeed sent to my account before I replied and/or accepted their offer ) a whopping XXXX BTC which was about {$300.00} ( seems to be depreciating these day ). I didn't feel like this was commensurate with my loss of about XXXX ( and that is not counting the approximately XXXX in fees ) so am now engaging in the required arbitration proceess which I unknowingly agreed to when I signed up for an account. Their sign-up process is an interesting aside- very quick you just click a box - all in the interest of easy onboarding. And why did I sign up with fee-hungry Coinbase in the first place? Well, I thought this sort of thing only happened on free apps like XXXX ( and I wouldn't go near XXXX for obvious reasons ) and that I would be able to access my account at all times, and particularly in times of market volatility which are a feature, not bug of the crypto market. I have all that I am saying documented with screenshots ( account balance before/after, error messages, tweets from their Chief Product guy and support on XX/XX/XXXX itself- the comments and replies to those tweets are instructive and reveal many disgruntled customers ). Another side issue is that I, as an non-accredited investor, was able to invest unlimited amounts up to XXXX per day- great for the Coinbase business model but I admittedly have no business doing that. In that quick onboarding, they ask nothing about income, net worth, etc- which is standard for literally every other type of investment but not in crypto- which arguably should have greater or at least some guardrails. Also, if you have never used Coinbase you should experiment with a small amount- the sort of slot machine/casino-ification of their product design is quite remarkable and 100 % intentional.
Company Response:
State: AL
Zip: 36117
Submitted Via: Web
Date Sent: 2021-08-13
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-08-13
Issue: Other service problem
Subissue:
Consumer Complaint: Currently I am dealing with the second account restriction in less than 3 weeks with Coinbase. Im sure you receive lots of complaints regarding Coinbase, however their support is unresponsive. I have done absolutely nothing wrong and they will not disclose why they have restricted my account or what I can do to get it unrestricted. They are holding my money XXXX. I was able to get it resolved 2 weeks ago, but they recently restricted me out of nowhere again a couple of days ago. Im a fully verified ( KYC ) user with the highest level of verification - government ID and address/DOB provided to Coinbase. Other than general trading on their platform, there is nothing I could have done to get a restriction. Coinbase will not assist me or provide any type of transparency regarding this issue. I am asking for your help. Coinbase case number XXXX Coinbase complaint case number XXXX Best Regards.
Company Response:
State: TX
Zip: 759XX
Submitted Via: Web
Date Sent: 2021-08-13
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A