Date Received: 2021-07-12
Issue: Money was not available when promised
Subissue:
Consumer Complaint: The below email was sent to Coinbase on XX/XX/21. On XX/XX/21, I received a text message from XXXX indicating that my Coinbase password has been changed and to call XXXX to automatically lock my account if I did not do this. I immediately called such number and followed the automatic prompts to lock my account, as I did not, not attempt to, change my password. Immediately after successfully locking my account, I created my first of nearly 10 support tickets which have since been created, dating from XX/XX/21 until today. The support ticket case numbers are : XXXX sent XX/XX/21 XXXX sent XX/XX/21 XXXX sent XX/XX/21 XXXX sent XX/XX/21 XXXX sent XX/XX/21 XXXX sent XX/XX/21 XXXX sent XX/XX/21 XXXX sent XX/XX/21 On XX/XX/21, I received my last correspondence from Coinbase, which was an email stating that all my cases were consolidated to case # XXXX and that I will be contacted after a review, which generally takes 4-5 business days. Such time has clearly passed, as today marks 1 month with no response from Coinbase. During such time, I have tried the following : 1 ) unlocking my account, and 2 ) changing my password ( which was successful, however, upon trying to sign in, I am being required to enter a two step verification, which requires me to enter a verification code sent to my phone number. However, the last 2 digits displayed on the phone number the code being sent to do not match my phone number, nor any number that I am aware of ). I am now stuck with no response from Coinbase, no way to contact Coinbase, as there is no telephone support, and absolutely no idea what to do next. My account has large holdings in XXXX and XXXX, which were valued at over {$6000.00} the last time I checked, which was right before I lost access to my account on XX/XX/21. During this past month, Ive had no ability to buy/sell or trade on Coinbase and have lost ample opportunities to use my money as i see fit, which could have rendered my account having well over {$6000.00} even. Having such ability and access was well within my right as a customer. I am requesting immediate access to my account, as well as an explanation, as at this point, I have no idea if my account was compromised with all money being taken out, if my account has been improperly used, or if my account is locked. In any of the above situations, My damage has been severe and continues with each day that passes with no response or explanation. Since sending that email Ive received 2 emails indicating I would hear back in 20 business days. I have not received a response. There is no phone support for me to contact either.
Company Response:
State: NY
Zip: 11228
Submitted Via: Web
Date Sent: 2021-07-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-07-09
Issue: Money was not available when promised
Subissue:
Consumer Complaint: I tried to transfer some eth from my coinbase account, and was asked for a six digit security code that Coinbase would text me. Coinbase never texted me, even though I tried six or seven times. then I called coinbase and sent an email, and they said that I needed XXXX XXXX, and I downloaded that, but, I can't get Coinbase to appear in this app. I deleted everything from my phone and did a factory reset because after coinbase didn't text me, I read coinbases troubleshooting pages for that and it said I needed to delete things and clear out all my old text messages to get a new text from coinbase. I was told to complete an account recovery because I couldn't get the XXXX authenticator to work, and I did that, I sent in a selfie, and my id. Yet I'm still locked out of my account. This is my life savings. Please help.
Company Response:
State: CO
Zip: 80113
Submitted Via: Web
Date Sent: 2021-07-09
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-07-09
Issue: Fraud or scam
Subissue:
Consumer Complaint: I wanted to report a cryptocurrency theft involving a Sim swap attack to your office that I became a victim of. On XX/XX/XXXX, I first observed loss of my cellular service around. I tried using my wife 's phone when she arrived home around to call XXXX and they told me that they could not locate my restore connection and failed to provide me any further information. I went to a local XXXX store where I was provided a new XXXX sim card. Later that afternoon, I could not access my email and I also could not access my Coinbase investment account. I found that my Coinbase account balance was almost wiped out by a transaction to an unkown XXXX XXXX and lost originally invested XXXX $ ( of which approximately XXXX XXXX were in the XXXX amount and rest were in various altcoins ). My bank account funds were impacted which was attached to Coinbase, however protected by XXXX due to a timely freeze on my account. After later recovering some emails from my deleted folder, I learnt that my email password was reset on XXXX XXXX at XX/XX/XXXX using my attached cell phone number. Coinbase password was reset on on XXXX XXXX which was immediately after the change of my email password. I tried to call Coinbase promptly to report and stop these transaction but they had no live agent support available and I only got a bot response on email. I had written them further emails about the unauthorized activity on the account and I have requested refund for the fraudulent activity that I have not conducted since their company claims to be FDIC insured and insured with cyber protection. I have received no response or outcome. This crypto loss has taken place due to poor cybersecurity measures of Coinbase which made my account vulnerable despite 2-factor authentication in place. Coinbase has deceptively and intentionally promoted itself as the most trusted cryptocurrency platform, while failing to take reasonable and state-mandated steps to prevent cyberattacks. Coinbase is bound to maintain stringent anti-hacking programs that monitor and filter transactions for potential violations of the Bank Secrecy Act ( BSA ) and anti-money laundering ( AML ) statutes ; and implement measures designed to effectively detect, prevent and timely respond to fraud. They have eliminated providing a live agent support without notifying long time customers ( including myself ). None of the customary cybersecurity systems were in place to prevent such a crime, my assets were stolen from his account by a hacker who used an IP address and equipment, from a location never before used by me and also to an unknown Crypto key previously not verified by me, especially after a fresh password reset. A proper cyber security algorithm should have stopped this transaction by a simple lock out of the account requiring additional verification like some of the other exchanges such as XXXX, especially after a recent password reset. They self-advertise as FDIC protected and should cover for my XXXX loss since I never authorized to buy the cryptoholdings made by the hacker and I believe my crypto losses should be covered under fraud protection insurance due to poor cybersecurity measures with Coinbase. This is not first such event. Coinbase has been previously named in lawsuits of similar nature [ XXXX XXXX XXXX XXXX XXXXXXXX ]. There are thousands of other victims of theft loss reported on the internet including profiles like XXXX, XXXX and complaint channels such as XXXX I and my family already feel devastated by this financial loss and a security threat to our personal information resulting in possible identity theft. I would really appreciate your help to recover financial damages that we have sustained in this case due to poor cybersecurity measures of Coinbase. Given the high impact of identity theft and growing cybersecurity fraud, a disciplinary action is warranted to prevent other American households to become victims of such fraudulent activity. If a company with multibillion dollar revenue cant afford appropriate security measures on the accounts of its consumers and cant provide a live agent support, then there is definitely an intentional internal scam which this company is intentionally overlooking and may be facilitating such crimes in the name of so called scammers.
Company Response:
State: NY
Zip: 12533
Submitted Via: Web
Date Sent: 2021-07-09
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-07-09
Issue: Problem with a purchase shown on your statement
Subissue: Credit card company isn't resolving a dispute about a purchase on your statement
Consumer Complaint: On XX/XX/XXXX the 2021, {$500.00} was charged to my visa XXXX card to Coinbase I did not authorize. I have tried dispute with my bank and with Coinbase and have gotten no help my bank closed my account due to complaining about this issue they have a no buying cryptocurrency policy and they still allowed this transaction to be approved. I have no idea where my {$500.00} is and why no one will help me.
Company Response:
State: KS
Zip: 67226
Submitted Via: Web
Date Sent: 2021-07-09
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-07-09
Issue: Fraud or scam
Subissue:
Consumer Complaint: Coinbase has locked me out my account for weeks. Every time I contact support I get a form email. I have responded numerous times verifying the steps that allow my account to be reactivated. They are fraudulent holding my money and have no one for me to speak to
Company Response:
State: NY
Zip: 11803
Submitted Via: Web
Date Sent: 2021-07-09
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-07-08
Issue: Problem with a lender or other company charging your account
Subissue: Transaction was not authorized
Consumer Complaint: This is regarding our crypto trading account on Coinbase ( Pro ) : XX/XX/XXXX : I initiated a deposit of {$3000.00} from our savings account at XXXX XXXX XXXX XXXX. XX/XX/XXXX : I got notified from XXXX XXXX XXXX XXXX that an attempt to withdraw {$3000.00} failed with a {$35.00} charge. I deduce Coinbase tried to get the money from XXXX XXXX XXXX XXXX account, due to insufficient funds the {$3000.00} transaction were denied ( bounced ). XX/XX/XXXX : I got an email with a link to try again. Ensuring that there were sufficient funds, I transferred the {$3000.00} using the link with the email. This transfer was successful. I got an email saying " Funds recovery complete. We have successfully collected the funds from your recent failed transfer. '' XX/XX/XXXX : I got a notification from XXXX XXXX XXXX XXXX that there was a pull that failed and I would be charged {$35.00} again. I deduce that for some reason, again Coinbase tried to get the money from XXXX XXXX XXXX XXXX account. XX/XX/XXXX : At XXXX XXXX I got an email with a link to try again, saying that it was our {$3000.00} request from XX/XX/XXXX that did not work. From the screen shot it shows that at XXXX ..., XXXX withdrawals of {$3000.00} were taken out of our account and one withdrawal of crypto currency of {$3300.00}. At XXXX XXXX I got an email saying " Funds recovery complete. We have successfully collected the funds from your recent failed transfer. '' I realized the above happenings of XX/XX/XXXX after I logged into my Coinbase account a few hours later and noticed the big drop in portfolio. And also that a new bank account ( XXXX ) had been added to my account without the necessary 2-factor authorization. I removed it and then immediately contacted Coinbase and asked if my account had been hacked. They sent me through their standard procedure of verification. I did all the verification and found that nothing of mine had been hacked. I observed the emails received from Coinbase on XX/XX/XXXX ( {$3000.00} ) amount and the withdrawals from our account all {$3000.00} amounts. I then inquired with Coinbase whether was it possible that these withdrawals were made in error by Coinbase. My account was then frozen and since then no response to repeated requests have been answered. The 6 withdrawals have not been returned, nor do we have access to our account. Dozens of email requests, complaints, tickets, ... have had no response. On XX/XX/XXXX my portfolio prior to the withdrawals had approx {$42000.00}. I also submitted a complaint directly to Coinbase on XX/XX/XXXX. On XXXX they said they would need an additional 20 days to look into this. Appreciate any help you can provide to resolve this matter. We have been helpless for over a month.
Company Response:
State: CA
Zip: 946XX
Submitted Via: Web
Date Sent: 2021-07-08
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-07-08
Issue: Fraud or scam
Subissue:
Consumer Complaint: Since XXXX I have not been able to access my account. I sold some crypto and tried to get the money into my bank account. My efforts for the past five months have failed. The support group simply dismiss my complaints. Further to this they Coinbase, have attempted to withdraw XXXX euros from my bank account. Im so glad that my bank blocked my account each time. Surely this is serious FRAUD. Thank you
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-07-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-07-08
Issue: Money was not available when promised
Subissue:
Consumer Complaint: I am XXXX XXXX XXXX with ID XXXX, mail XXXX and I have a cryptocurrency account in the COINBASE company. I have been with my account blocked for months and I can neither carry out operations nor withdraw money
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-07-09
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-07-08
Issue: Other transaction problem
Subissue:
Consumer Complaint: On XX/XX/XXXX I established an account with Coinbase.com via a referral. On XX/XX/XXXX I scheduled a transfer of {$100.00} from my bank to Coinbase. The funds appeared available in my account. I purchased {$1.00} of the XXXX cryptocurrency and was charged a {$0.00} fee on XX/XX/XXXX. On XX/XX/XXXX Coinbase informed me the transfer had failed. I then attempted to make a transfer from other accounts but they were repeatedly denied. On the same day I contacted Coinbase about closing the account and paying the balance due. Coinbase has repeatedly emailed me to request payment and I have continued to try to send them money but they will not provide a path forward. Their support seems to say they will not accept payment until I provide a photograph of my ID. I do not feel comfortable sharing this information. I lasted emailed them XX/XX/XXXX and they promised they would get back to me but have not yet. I would like to send them the balance due and terminate my relationship with them. The case number with them is : # XXXX
Company Response:
State: VA
Zip: 222XX
Submitted Via: Web
Date Sent: 2021-07-08
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-07-08
Issue: Money was not available when promised
Subissue:
Consumer Complaint: I have been locked out of my account with Coinbase since XX/XX/23. Initially I reported to them that I thought my account had been compromised, however it was later concluded this was incorrect. Since then Coinbase has refused access back to my account despite providing them with all necessary documentation to prove Identity. I have reached out to them a few times a week since then to no avail ; just received generic auto responses with no help. It seems at this point theyre just planning to keep my money which is XXXX of dollars. This is unacceptable and they shouldnt be able to get away with it!
Company Response:
State: SC
Zip: 29926
Submitted Via: Web
Date Sent: 2021-07-08
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A