COINBASE, INC.


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"Products" offered by COINBASE, INC. with at least one, but usually more complaints:

Bank account or service - Other bank product/service
Checking or savings account - Checking account
Checking or savings account - Other banking product or service
Checking or savings account - Savings account
Credit card - General-purpose credit card or charge card
Credit card or prepaid card - General-purpose credit card or charge card
Credit card or prepaid card - General-purpose prepaid card
Credit card or prepaid card - Gift card
Credit reporting or other personal consumer reports - Credit reporting
Credit reporting, credit repair services, or other personal consumer reports - Other personal consumer report
Debt collection - Credit card debt
Debt collection - I do not know
Debt collection - Other debt
Money transfer, virtual currency, or money service - Debt settlement
Money transfer, virtual currency, or money service - Domestic (US) money transfer
Money transfer, virtual currency, or money service - Foreign currency exchange
Money transfer, virtual currency, or money service - International money transfer
Money transfer, virtual currency, or money service - Mobile or digital wallet
Money transfer, virtual currency, or money service - Money order
Money transfer, virtual currency, or money service - Refund anticipation check
Money transfer, virtual currency, or money service - Traveler's check or cashier's check
Money transfer, virtual currency, or money service - Virtual currency
Other financial service - Foreign currency exchange
Payday loan, title loan, or personal loan - Installment loan
Payday loan, title loan, or personal loan - Pawn loan
Payday loan, title loan, or personal loan - Personal line of credit
Payday loan, title loan, personal loan, or advance loan - Pawn loan
Prepaid card - General-purpose prepaid card
Prepaid card - Mobile wallet
Virtual currency - Domestic (US) money transfer
Virtual currency - International money transfer

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Complaint ID: 7544974

Date Received: 2023-09-13

Issue: Fraud or scam

Subissue:

Consumer Complaint: XXXX scam over Coinbase

Company Response:

State:

Zip: XXXXX

Submitted Via: Web

Date Sent: 2023-09-13

Company Response to Consumer: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A


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Complaint ID: 7544320

Date Received: 2023-09-13

Issue: Fraud or scam

Subissue:

Consumer Complaint: While buying and selling crypto currency on the coinbase platform my funds invested were fraudulently taken. My investment was {$35000.00}

Company Response:

State: TN

Zip: 383XX

Submitted Via: Web

Date Sent: 2023-09-13

Company Response to Consumer: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A


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Complaint ID: 7541739

Date Received: 2023-09-13

Issue: Other transaction problem

Subissue:

Consumer Complaint: the cryptocurrency exchange coinbase has been intentionally or unintentionally accepting XXXX based tokens that the coinbase exchange does not offer support for at addresses that the coinbase exchange holds the private keys for ; it is impossible to access those funds without the private key to the wallet addresses at which those funds are stored. those funds are not returned if the sender tells coinbase that they were sent in error. those funds are inaccessible and essentially lost until coinbase chooses to return them. there could be large sums of cryptocurrency stored at XXXX based addresses managed by cryptocurrency exchanges that are essentially " stolen '' due to non supported token issues caused by network chain mismatches in which there is no actual loss of tokens. how does this happen : you picked the wrong chain when you sent tokens to your exchange account and the exchange doesnt support that token on the chain you picked. now the exchange wont return the tokens and those tokens are trapped at an address that only the exchange can manage. coinbase is one of the seven largest cryptocurrency exchanges in the world. an example would be sending usdc coin to coinbase on a network that is not supported. the funds sit in the coinbase account address for which the coinbase exchange holds the private key. coinbase does not return the funds when they are requested even if you tell them the funds were sent in error. the user will get a generic copy paste reply that says the funds were lost. if you look at the blockscan for any of those coinbase addresses it is possible to see that the funds are still located at those addresses. there is no loss of funds. a similar situation happened to me where i sent a small amount of XXXXXXXX XXXX ( XXXX XXXX ) from the coinbase wallet app to the exchange. the grt was a quest reward for delegating XXXX XXXX to an XXXX on the coinbase wallet app. it cost me XXXX usd approximately to complete the quest. the reward was XXXX dollars in XXXX XXXX the coinbase exchange does not support XXXX XXXX coinbase exchange only supports XXXX XXXX XXXX. i was still able to make the transfer but when i looked for my funds they did not appear in my coinbase account. i looked at XXXX with the transaction hash and the transaction had completed and the funds were present at the coinbase exchange XXXX XXXX address on the XXXX XXXX... i asked for the funds to be returned to my coinbase wallet app address from where i sent them and after speaking with 7 support agents that has not happened. 3 support agents told me the funds were permanently lost. another 2 agents told me that the funds would become available in the future after coinbase exchanges adds support for XXXX XXXX the other two agents didnt know a XXXX for a chain of blocks. i mean literally a chain made of blocks. my XXXX XXXX is still trapped at the coinbase exchange address and i can not move it and coinbase will not return it. here is the transaction hash for the transfer i am trying to get returned to me XXXX XXXX XXXX XXXX i was accidentally transferred XXXXXXXX XXXX ( a cryptocurrency from the coinbase wallet app to my coinbase exchange account ) at XXXX XXXX XXXX XXXX i have attempted to get help from coinbase several times. reference : XXXX reference : XXXX reference : XXXX reference : XXXX copy of an email i sent to coinbase support " no name XXXX XXXX ( XXXX hours ago ) to Coinbase transaction hash : XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX i sent XXXX XXXX from the coinbase wallet to my coinbase exchange account which only support XXXX XXXX at this time. the address i sent the grt to is an active wallet address which i would assume is managed by coinbase. i would like to ask that the XXXXXXXX XXXX be sent back to XXXX minus gas fees please reach out to anyone who would be able access the funds at XXXX '' reply from coinbase : " Coinbase Support XXXX ( XXXX hours ago ) to me XXXX XXXX XXXX Thanks for contacting us about your recent attempt to send funds to your Coinbase account. We can help you understand what happened. After reviewing the information you provided, it appears this transaction was performed using a blockchain network that is not currently supported for this asset. Since this asset is not supported for this network, the funds did not arrive in your Coinbase account and we do not have the ability to recover these funds. Please note that XXXX is only supported via XXXX and not XXXX. We understand that this is a frustrating situation but unfortunately, we do not currently have the ability to recover these funds. In the long term, Coinbase may, in the future, support this crypto via the network you used. If thats ever the case, youll automatically receive these funds in your account. To avoid future transaction issues and loss of funds, we recommend that you send a very small amount of crypto as a test transaction before committing to a larger transaction. Additionally, please always ensure that you're receiving and sending crypto via a supported network to a compatible wallet address. For the most up-to-date information about our supported cryptocurrencies, please visit our Explore page here : https : //www.coinbase.com/explore Regards, Coinbase Support thread : XXXX : : '' the funds are under the management of coinbase. coinbase has the private key to the address and refuses to return the funds. i can not retrieve them myself.

Company Response:

State: GA

Zip: 30518

Submitted Via: Web

Date Sent: 2023-10-04

Company Response to Consumer: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A


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Complaint ID: 7536853

Date Received: 2023-09-12

Issue: Money was not available when promised

Subissue:

Consumer Complaint: I deposited {$15000.00} in Coinbase to purchase cryptocurrency. At first exchange Coinbase said I have to wait a week, which I was fine with. Then they asked me to wait 44 days. I called customer support to complain and they said its because of their anti money laundering policy. The. I went to check on my transaction and now its pending for 70 days. It doesnt take that long to process the money is out of my bank account and with my Coinbase. The money is in Coinbase and I cant do anything. I cant even withdraw to go to another exchange.

Company Response:

State: NJ

Zip: 08527

Submitted Via: Web

Date Sent: 2023-09-12

Company Response to Consumer: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A


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Complaint ID: 7527233

Date Received: 2023-09-10

Issue: Other service problem

Subissue:

Consumer Complaint: On XXXX I received an email from Coinbase that an unauthorized phone number and email account tried to access my account.I followed the prompts on the app to lock the account. And then days later I tried to unlock the account and I kept getting rejected saying that the photo of my drivers license was not clear, i did this several different times. Then I called customer Service and they stated that the email regarding the unauthorized access was sent to me in error and that pictures of the license were clear and she would manually push the verification through. But there was an error with the site and she asked me to access chrome, and so i called back later. When i called back the rep was rude, said that the pictures weren't clear, he refused to let me talk to a XXXX and he refused to give me a number or email address to log a complaint through their company. I have repeatedly tried to upload pictures of the license, taken by XXXX different people with XXXX different phones, and I get the same error message. Please help meI have been locked out of my account for over a month and have no access to my money

Company Response:

State: NC

Zip: 272XX

Submitted Via: Web

Date Sent: 2023-09-10

Company Response to Consumer: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A


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Complaint ID: 7522883

Date Received: 2023-09-08

Issue: Money was not available when promised

Subissue:

Consumer Complaint: I was trying to move my crypto into XXXX dollars and tried to use CoinBase. Based on the statements on the CoinBase website, I transferred {$12000.00} of XXXX on the XXXX network to CoinBase. I used the address CoinBase gave me and the transaction ID is here : https : XXXX The tokens never appeared in my CoinBase account. I have spoken to CoinBase XXXX as well as making a Formal complaint. Their response has been basically that it is my fault and there is nothing they can do. CoinBase bears this responsibility since they said that they can accept any XXXX token. XXXX is an XXXX token so it should work. While they claim that they don't support the token on XXXX and that there is nothing that they can do, in reality it would be a very easy job for someone at CoinBase with technical skills to either return the funds to my XXXX wallet or to credit them to my CoinBase wallet.

Company Response:

State: NJ

Zip: 07621

Submitted Via: Web

Date Sent: 2023-09-08

Company Response to Consumer: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A


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Complaint ID: 7504116

Date Received: 2023-09-05

Issue: Fraud or scam

Subissue:

Consumer Complaint: I had almost XXXX BTC ( XXXX ) in my Coinbase Pro account which was stolen XX/XX/2023. Ever since the migration from Coinbase Pro to Coinbase, I started having issues to sign in to my account through the app. Coinbase said I had to login through the browser which I did after a few attempts, resetting my password, sending a live selfie to authenticate my identity and waiting 24 hours to log back in, only to find out that my account had been left with only {$0.00}. I do not understand how it was so difficult for me to log into my own account and so easy for whoever stole my hard earned money and savings of many years. When I contacted Coinbase, I was never able to talk to anybody in the Support Team where they escalated the issue to. Something so serious and important as this, had to be handled through email only. There was never a supervisor or manager on site that they could transfer me to. One of the representatives I talked to in customer service even found it funny that I was so upset about what happened that started giggling while I talked to her. I thought since Coinbase is publicly traded in the US, it was a reputable company and that my money was safe with them. How is it possible that they are allowed to make money with our investments and they don't seem to be responsible for protecting our funds? Aren't they supposed to have some kind of insurance? After what happened, I heard that dormant accounts can be targeted and I was one that would not login everyday. I look at it as a long term investment so I would sign in once or twice a month, sometimes longer. It still bothers me that even credit cards take more security measures through text messages and calls to avoid scams than Coinbase who is supposed to be responsible for our investments. Why did they block the account once the money was stolen instead of blocking it when they saw all the money was being transferred until they verified that it was actually me sending the payment? I went to different police stations to file a report. One of the officers seemed mad that I was wasting their time and said they had nothing to do with this and that it was my responsibility as it was a high risk investment and Coinbase not a physical bank. It was as if she was glad I'd lost my money. I am very disappointed at how Coinbase has handled this as they don't want to take responsibility that my money disappeared from the account I had with them. I feel discouraged and I am taking a leap of faith in filing a complaint with this institution as one of my last recourses to recover my investment. Your attention and help with this matter will be greatly appreciated!

Company Response:

State: FL

Zip: 331XX

Submitted Via: Web

Date Sent: 2023-09-05

Company Response to Consumer: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A


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Complaint ID: 7500543

Date Received: 2023-09-05

Issue: Fraud or scam

Subissue:

Consumer Complaint: Around XX/XX/2023, I fell victim to multi-layered scam operations run by XXXX which involved me making deposits for a total amount of XXXX USD from my Coinbase account to a fraudulent investment firm

Company Response:

State: IL

Zip: 604XX

Submitted Via: Web

Date Sent: 2023-09-05

Company Response to Consumer: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A


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Complaint ID: 7500021

Date Received: 2023-09-06

Issue: Other transaction problem

Subissue:

Consumer Complaint: I had an unauthorized transfer based on a fraudulent account takeover and Coinbase is insanely unresponsive. When I finally got someone on the phone they were 100 % inept. Clearly not aware of anything about account hacks. I LOST $ XXXX OF XXXX TODAY. And yet no one who can actually help will get on the phone. The Rep repeated assured me on the call ( which was recorded ) that there was no activity on my account. Repeatedly said that- but I saw it with my own eyes ; and an hour into the phone call after I insisted he keep looking, he realized he had missed it. Again CHECK THE PHONE LOG. The conversation was recorded. When it was clear to me that he couldnt help and was only hurting my chances of recovery, I asked to speak with a manager. He said managers do not get on the phone ever. Insane! I have a $ XXXX loss and a manager cant help? Instead Coinbase offers an inept, poorly trained Rep who made things worse. I need my $ XXXX returned immediately. The security controls are wildly lacking and the customer service insanely inept. I dont understand how you can treat financial institution customers like that. Your security controls are so lacking they are negligent. Its insane to me that you didnt pick up a massive sweep of my account after a password change and no factor authentication. Thats basic security!!! I can not wait and am filing this before I file a lawsuit. Procedurally I will move quickly as its clear that Coinbase doesnt have the capacity or interest in helping. I cant wait 5-7 days to learn if a manager will answer an email about my stolen $ XXXX of XXXX. Thats insane!!! Yet its how CB does business apparently. I need help - I tried to get it through customer service and it only made it much worse. Now I need legal and regulatory enforcement assistance. Please help!!!

Company Response:

State: CT

Zip: 068XX

Submitted Via: Web

Date Sent: 2023-09-06

Company Response to Consumer: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A


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Complaint ID: 7487525

Date Received: 2023-09-01

Issue: Money was not available when promised

Subissue:

Consumer Complaint: I completed a wire transfer of {$9900.00} on XX/XX/XXXX to Coinbase. I then exchanged the funds for Bitcoin. I then submitted an ACH transfer of {$2000.00} to Coinbase from my bank account. On XX/XX/XXXX the exchanged bitcoin was requested for withdraw to my personal wallet. Coinbase would not process the withdraw and asked for my ID. I submitted my ID. They did not process my transaction. They requested my ID. I submitted my ID. They did not process my transaction. They requested my ID and a Selfie. I submitted my ID and a Selfie. They did not process my transaction. They froze my account. I have since been completely shut out of my account with no support provided. They tell me to upload my ID, selfie and a handwritten note all in one picture with all legible and in view while also taking the picture yourself at the same time. Despite this completely ridiculous requirement for someone with only 2 hands, I submitted the requested photo in compliance with the request. They did not unlock my account. They requested the same exact thing again. I did it yet again, and successfully uploaded it to the link provided. They did not unlock my account.

Company Response:

State: OH

Zip: 45241

Submitted Via: Web

Date Sent: 2023-09-01

Company Response to Consumer: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A


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