Date Received: 2021-07-17
Issue: Fraud or scam
Subissue:
Consumer Complaint: I have a legitimate Coinbase & Coinbase wallet account, both are linked to my bank accounts. Coince base is a seller of cyrpto currency. About 3 months ago Coinbase disabled access to my account and I've been locked out ever since. I've been emailing them, trying to re-open a case, I've tried tweeting to them on their twitter account & direct messaging them on their coinbase support twitter account & all I ever received are automated messages that have the exact same writing & phrasing in every response. I haven't been able to access my money or account for 3 months. I recently contacted Coinbase to try and get my money back & close my account & still no response from them. My money is held hostage by coinbase.I put in a complaint with the XXXX XXXX XXXX over 1 month ago so that they may respond & still nothing. Also, when I checked their XXXX account, there were several hundred people who stated Coinbase did the same thing to their account, some people have been locked out of their accounts cein 2019 & there's no response from Coinbase at all. I tried to look up their employees on XXXX, it states there are over 1000 employees so I'm not sure why no one is getting back to us. There is also no physical address or phone number for Coinbase. they're definitely running some type of scam, as i have no access to my money, i don't know how much is in there as I purchased multiple cryptocurrency. I'm about to close that bank account & need to get my money back from them ASAP. XXXX is no longer hosting personal accounts in the USA, so I need to close that account ASAP but i can't do that while my money is stuck in Coinbase. I have several emails to correspond with my complaint, please advise and help!
Company Response:
State: NY
Zip: 10458
Submitted Via: Web
Date Sent: 2021-07-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-07-17
Issue: Other service problem
Subissue:
Consumer Complaint: On XX/XX/2021, I signed up for Coinbase. This included linking my bank account and sending a picture of my ID to ensure that they could confirm who I was as an investor. My ID was verified and they sent me {$5.00} in bitcoin as part of a promotion. Another promotion available was to set up reoccurring buys of {$50.00} dollars or more and after the 2nd reoccurring purchase, I was supposed to receive another {$5.00} in bitcoin. I made those reoccurring purchases of {$50.00} on XX/XX/2021 and XX/XX/2021. On XX/XX/2021, I submitted a support request via the Coinbase website to request my {$5.00} bitcoin promotion. On XX/XX/2021, I received the following email " Hello there, Thanks for contacting Coinbase Support about your BTC reward. 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. Regards, Coinbase Support '' On XX/XX/2021, I responded via email stating that I checked their website which showed my verification was all green checkmarks. I never had a duplicate or fake account. On XX/XX/2021, I received the following email " Hi there, Thank you for your response. We understand your concern but please note that we are unable to manually review or credit the BTC reward that are not automatically paid out. If you have completed the steps as previously outlined, you should be eligible to receive the reward. We appreciate your understanding in this regard. Please let us know if there's anything else we can assist you with. '' On XX/XX/2021, I responded with the following email " Hello, just to confirm, even though I have stated that I have completed all of your requirements, you are stating that you can not in any way figure out why I am not getting paid properly, even though I have met all of your requirements? I find this unacceptable and request that someone with the authority to make decisions review and rectify this situation. I have followed the rules that your company stated for this promotion and request that I be paid in accordance with your own policies. I believe a fair amount of time to look into this and properly credit my account is by this Friday XX/XX/2021. Failure to do so will force me to pursue this further up to and including contacting the proper government agencies with purview of this matter. I await your response. '' Coinbase responded on XX/XX/2021 with the following email " Hi there, Thanks for reaching out to us. Our team is currently reviewing your account to find the best solution. We will follow up with you on the original email thread as soon as we have an update. Thank you for your patience. '' That was 12 days ago and I have not received any communication since.
Company Response:
State: CA
Zip: 95758
Submitted Via: Web
Date Sent: 2021-07-17
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-07-16
Issue: Wrong amount charged or received
Subissue:
Consumer Complaint: I have bought and sold cryptocurrencies through Coinbase for over a year. I often noticed that the portfolio total value that they reported for a given moment, was often {$2000.00} below what their own prices were listed at. I complained three times and their response was always the same -- '' After reviewing your case, we've alerted a specialist to address your issue properly. We're currently receiving a high number of requests so reviews may take longer than usual. We understand the importance of this issue, and our team is working hard to get to your case. We will update you as soon as we can. '' Each time, months passed and they never got back to me. On XX/XX/2021, I sold the three cryptocurrencies that I owned, and after they sent me an e-mail receipt that included the deductions for their commissions, the total amount I received from Coinbase was over {$2000.00} less than what the cryptos were selling for at that moment, and they did not change considerably during the rest of that day. I have the details of what I sold on XX/XX/2021, how much the coins were worth at that moment, and how much I received from Coinbase. Obviously, the fact that each time I contacted Coinbase they admitted that they were receiving a " high number of requests '' is a good indicator that many others were also complaining about their shady dealings. XXXX XXXX
Company Response:
State: TX
Zip: 751XX
Submitted Via: Web
Date Sent: 2021-08-09
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-07-16
Issue: Other transaction problem
Subissue:
Consumer Complaint: So I had XXXX total in various bitcoin through a company called coinbase. It was hacked on the XXXX in i believe may through my unsecured email account and half of it was stolen. I still have another XXXX of etherium in my vault which could not be hacked into because i have a very secured protonmail linked to the vault. I have frozen the account almost 2 months ago and have made sure I secured all my ends but they have not unfrozen my account and ignore my dozens of emails. I have sent them My ID plus many other self identifying records. I actually have video of myself goin g through my account and showing exzactly whats in it as I have sent that info to my cousins prasing the wealth of bitcoin. Now I have nowhere to turn ...
Company Response:
State: CA
Zip: 94559
Submitted Via: Web
Date Sent: 2021-07-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-07-16
Issue: Fraud or scam
Subissue:
Consumer Complaint: I received a text form Coinbase at XXXXXXXX XXXX on XX/XX/2021 saying my account password has been changed and if i didnt initiate this to call and lock the account immediately. I called immediately to lock the account. I could not get a hold of anyone and their automated account locking system did not work. I also sent in at least 5 emails to lock my account. I never received any notice that my account was locked, nor was it locked because I couldnt talk to anyone at the company. On XX/XX/2021 I had {$10000.00} withdrawn from my XXXX XXXX XXXX account to go to Coinbase. I did not initiate this and and with coinbases lack of customer service and ability to actually talk to anyone I have been unable to stop this transaction. XXXX XXXXXXXX XXXX said I need to contact the merchant ( Coinbase ) to stop these two {$5000.00} charges. Ive now spent over 6 hours on the phone with my banks and credit card companies changing all my account numbers because Coinbase has not responded to any of my close to 10 emails and phone calls about this. I want my account locked immediately and someone to contact me in regards to this. Not only do I not have access to my Coinbase funds/account but now my personal bank account has been withdrawn, over drafted and suspended because of this. Meanwhile its been over 2 weeks since I tried to put a lock on this account and talk to someone at Coinbase about this. Thank you.
Company Response:
State: MD
Zip: 208XX
Submitted Via: Web
Date Sent: 2021-07-16
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-07-15
Issue: Fraud or scam
Subissue:
Consumer Complaint: I have a Coinbase account since XX/XX/2020 and have been able to operate normally. For the last months I've been trying to withdraw my account balance ( 1037 GRT, rougthly around XXXX, much less than when I initially tried to withdraw ) but I get the message that my account is in veryfication status and that I should check again in two days. The problem is that it has been in this status for almost 2 months and I am still unable to withdraw my account balance. I have really tried to contact coinbase support, but its customer support is really poor and I have only been able to recieve automated responses. I have not been able to talk with any actual customer support specialist.
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-07-15
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-07-15
Issue: Managing, opening, or closing your mobile wallet account
Subissue:
Consumer Complaint: CASE # XXXX I get an email stating my account My photo ID has been verified and then another email rite after stating my account is closed! I have been with them for over 4+ Years now, and never had an issue like this. I also looks like whatever has caused this caused another account thru XXXX XXXX to close as well. Can you please have them reopen my accunt and not have my account closed. I can not access Coinbase Pro which has over XXXX worth of my money I cant access and Coinbase Support is not getting back with me. This is an extremely volatile market and for them to lock me out of my account without accessing my Coinbase Pro account which is where my money is at is UNACCEPTABLE and it looks like others are having this same issue as well. Please help. I can not login to my Coinbase Pro which just keeps putting me back to my Coinbase which shows to withdraw only my Coinbase funds not the Pro funds, which is where the bulk of my money is at. In the same day, I got another email from Coinbase THE EMAIL STATES : Hello, Thank you for your interest in Coinbase. Our primary goal is to make digital currency safe and secure for our customers. Coinbase is a regulated Money Services Business under XXXX XXXX XXXX XXXX, and as part of achieving this goal, we are legally obligated to implement regulatory compliance mechanisms. Upon careful review, we believe your account has engaged in prohibited use in violation of our Terms of Service and we regret to inform you that we can no longer provide you with access to our service. We respectfully request that you follow the on-screen instructions presented when you sign in to your Coinbase account to send any remaining balance offsite to an external address. If you are currently enrolled in USD Coin rewards, you may want to wait up to 40 days before withdrawing funds to ensure you have received all eligible reward payouts. You will not be able to access these funds after account closure. Should you have any questions or need assistance, please let us know and we'll be happy to help. Respectfully, Coinbase Customer Support 2nd EMAIL : XXXX XXXX, Thank you for your interest in Coinbase. Our primary goal is to make our platform safe and secure for our customers. Coinbase is a regulated Money Services Business under XXXX XXXX XXXX XXXX, and as part of our responsibility, we are legally obligated to implement regulatory compliance mechanisms. We regret to inform you that we are no longer able to support your Coinbase account as well as any other accounts you may have created. Please note, we have not blocked access to the balance currently in your Coinbase account ; while we can no longer process brokerage orders via our banking relationship, you may still send your balance offsite to an external address. There are a variety of factors which have been weighed in your case, and for security reasons we are unable to elaborate on our internal decision process. Please know that we do not make these decisions lightly, and do regret losing you as a customer. We wish you all the best in your future endeavours. Regards,
Company Response:
State: FL
Zip: 320XX
Submitted Via: Web
Date Sent: 2021-07-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-07-14
Issue: Other service problem
Subissue:
Consumer Complaint: following up with my previous Complaint XXXX, coinbase responded to you by requesting that I verify my identity : 1. So on XX/XX/XXXX, I used the link that coinbase provided to you and I sent my selfie holding my ID and title saying " for coinbase Verification '' 2. I did not receive any response from coinbase 3. 48 hour later I tried to login my account but received " account is disabled '' 4. It has been 57 days with disabled account 5. I have lost over {$34000.00} by not able to manage my account 6. after opening 45 cases and two complains with coinbase, I am convinced that coinbase do not read or open any e-mail from their customers 7. Please start the most penalizing action against coinbase
Company Response:
State: NC
Zip: 28278
Submitted Via: Web
Date Sent: 2021-07-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-07-14
Issue: Wrong amount charged or received
Subissue:
Consumer Complaint: This follow-up complaint is regarding Coinbase 's inadequate response to my initial complaint. Initial complaint Info : COMPLAINT ID XXXX SUBMITTED ON XX/XX/XXXX PRODUCT Money transfer, virtual currency, or money service ISSUE Wrong amount charged or received Initial Complaint : This issue is regarding my attempt to transfer Bitcoin from my wallet on Coinbase ( digital asset exchange XXXX to my private hardware wallet. On XX/XX/XXXX, I withdrew XXXX BTC ( equivalent to {$6100.00} as that day 's market price ) from my Coinbase wallet to my private wallet. This transaction was successful. However, Coinbase incorrectly double posted this withdrawal leading to a negative XXXX BTC balance in my account. I also had other currencies that I needed to transfer to my private wallet ( ETH and LTC ). I was unable to make those transactions because Coinbase restricts withdrawals when you have an overall negative account balance. In order to get the other currencies withdrawn, I sent XXXX BTC in from my private wallet on XX/XX/XXXX. I subsequently withdrew the XXXX and XXXX amounts I needed to. Coinbase never corrected the erroneous double post. I submitted a support ticket to Coinbase on XX/XX/XXXX, in which I describe the above in full. They asked for more details and eventually admitted it was an error in their system on XX/XX/XXXX after reviewing : " Thank you for contacting us about this. We have confirmed this to be an issue with our system and are working to resolve it as soon as possible. Your case has been recorded for review by an expert. Thank you for your patience in the meantime we will be in touch again as soon as we have an update. '' No response from Coinbase for weeks so I asked them why it wasn't resolved on XX/XX/XXXX. To which, they replied : " Thank you for contacting Coinbase. In an effort to respond more rapidly to support requests, direct emails to this address are no longer enabled. To get a response from our support team, please visit the following page and complete the request form : https : //support.coinbase.com/customer/portal/emails/new Please use the email address that you use to log in to Coinbase, select the appropriate category, and include as much detail as possible when submitting your request. Thanks in advance for your patience and support. '' No resolution still. I submitted another ticket to follow up on XX/XX/XXXX XXXX Case # XXXX XXXX, but there has been no response. I have elevated this case number today ( XX/XX/XXXX ) and notified Coinbase I am formally submitting a complaint to the CFPB. Today, the XXXX BTC is worth approximately {$22000.00} USD. Coinbase 's response to Initial Complaint : Dear XXXX XXXX, We have reviewed your complaint regarding a double posting of a BTC withdrawal to your private wallet which led to a negative XXXX BTC balance in your Coinbase account. Review of your accounts transaction history show two completed sends of XXXX BTC to your external private wallet ; one on XXXX XXXX XXXX PST and the other on XXXX XXXX PM PST. Review of these transactions on the blockchain show your private wallet received both of these transfers : https : XXXX As your private wallet received a total of XXXX BTC, you did not suffer a loss as a result of the double posting. We therefore consider your complaint resolved. However, we have determined that your customer experience was not up to our standards. Coinbase has credited your account XXXX USD in compensation for your unsatisfactory customer experience. Please reach out to our support team if you have any further questions. Sincerely, Coinbase Regulatory Response Team Follow-up Complaint : In reviewing the link provided by Coinbase at XXXX, their statement of my external private wallet receiving two transactions of the same amount totaling XXXX BTC is FALSE. In the link they provided, their is only ONE transaction in that amount equal to half that total amount. Their response is unacceptable and blatantly fraudulent. Please review the info provided in Coinbase 's response.
Company Response:
State: CA
Zip: 94402
Submitted Via: Web
Date Sent: 2021-07-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-07-13
Issue: Fraud or scam
Subissue:
Consumer Complaint: I have had an account with Coinbase since XXXX. On XX/XX/XXXX, my account was compromised, with several unauthorized actions taken by the perpetrator. These actions included the attempted ( or successful ) theft of XXXX, initiating several XXXX transfers and purchase of additional XXXX XXXX from my linked bank account, and changing the phone number associated with my account. I think that the perpetrator gained access to my Coinbase account through the takeover of the email address that was ( and is ) associated with my Coinbase account.. XXXX XX/XX/XXXX, I immediately called the Coinbase automated phone line to lock my account. I have not been able to regain access to my Coinbase account AT ALL since the account was compromised on XX/XX/XXXX ( now almost XXXX weeks ago ). This is due to the fact that I can not proceed to verify my identity with Coinbase, as the 2 factor authentication code that is required to log into the account is being sent to the perpetrators phone number that has been added to my account. Without this 2FA code, I cant get into the account. I need Coinbase to help me get back into my account. Coinbase does not offer live customer service. Instead, you must submit a request through their website for assistance. I have repeatedly sent requests to Coinbase for assistance in accessing my account. The responses I get from Coinbase have been form letter-style auto responses from their bots. The responses have promised that my account had been referred to a specialist to resolve my issue, and that they typically respond within 4-5 days. A response from the specialist to help me simply access my account so I can surmise the damage never came. So, I then tried to escalate my case to try and get a resolution through Coinbases internal complaint process. I submitted the complaint on XX/XX/XXXX, and was promised a response within 15 business days. Shortly before day XXXX, on XX/XX/XXXX, I got an email from Coinbase stating that they required up to an additional 20 days to research my issue. Shortly before the end of this additional waiting period, on XX/XX/XXXX, I received an email from the Complaint resolution area instructing me that someone would be in touch with me to assist me, and to try and let customer service resolve the issue. More promises of help that never came. A complaint resolution process that provided nothing other than further delays in getting this issue resolved. This is the most disturbing lack of care for customers and their financial assets that I have ever experienced. Being the victim of cyber crime is incredibly unsettling ; having a company that you have trusted to do business with offer no support or help of any kind to resolve the issue is equally bad, and has made the whole episode immeasurably worse. Coinbase is a US based, publicly traded company, and should be required to offer prompt assistance in these situations. I have attached several of the emails that I sent to/received from Coinbase customer support and Coinbase complaint resolution for your review. I have sent a total of 15 requests/emails to Coinbase since XX/XX/XXXX and have not gotten a resolution.
Company Response:
State: OH
Zip: 43016
Submitted Via: Web
Date Sent: 2021-07-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A