Date Received: 2021-07-08
Issue: Problem adding money
Subissue:
Consumer Complaint: I have received an insufficient funds notice for a purchase if USD coin, digital currency. This has happened three previous times. Each time the error has been on the company 's side. The company is Coinbase , Inc . Each time l have had sufficient funds to cover the purchase.
Company Response:
State: FL
Zip: 34957
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: 2021-07-07
Issue: Other transaction problem
Subissue:
Consumer Complaint: On XXXX I was alerted to someone trying to hack my account. After repeated attempts to change my password, I tried to get Coinbase to lock my account. I later learned that {$5000.00} was taken from my bank account as well, but that was recovered by the bank. I sent Coinbase several emails trying to get assistance recovering the cryptocurrency I had, with no reply. It is approximately $ XXXX {$700.00}. There is no other way to reach someone other than email. I have copies of all communications sent to them from the moment I feared I was being hacked.
Company Response:
State: FL
Zip: 33810
Submitted Via: Web
Date Sent: 2021-07-07
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-07-07
Issue: Unauthorized transactions or other transaction problem
Subissue:
Consumer Complaint: My Coinbase account had an attempted unauthorized password change last week, no big deal, I haven't used the service in years so I simply locked the account. Between yesterday and today, a total of {$4000.00} was taken from my bank account from coinbase. Coinbase has no customer service support to get help with, I got in contact with my bank and locked my savings to protect myself from additional charges. I can not even access my coinbase account because the password was changed.
Company Response:
State: WA
Zip: 992XX
Submitted Via: Web
Date Sent: 2021-07-07
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-07-07
Issue: Unauthorized transactions or other transaction problem
Subissue:
Consumer Complaint: When I attempted to log in to my Coinbase account on XX/XX/2021 at XXXXXXXX XXXX EST, I received a XXXX message through XXXX on my phone. I received this message and input the code. I was then taken to a " New Device Confirmation '' page. This was not unusual, since I had been directed to this page before, even while signing in on a recognized device. I checked my email, and at XXXX, I had received an email response for New Device Confirmation. I followed the instructions in this email. but when I input the link in the Confirmation page on Coinbase, I was redirected to a page saying that my XXXX settings had been changed. I did not authorize this change. I then received an email at XXXX confirming that these settings had been changed. I logged in to my Coinbase account using my normal account name and password, and again was able to receive the XXXX XXXX message on my phone. However, when I accessed the account, I noticed that my prior account balance of {$1900.00} had dropped to {$0.00}. I then received notice from my email that two separate transactions had been made : one at XXXX for a transfer of XXXX XXXX ( {$1900.00} USD ) to the wallet address XXXX, and another at XXXX for XXXX BTC ( {$6.00} USD ) to the wallet address XXXX. Neither of these transactions were initiated or authorized by me, and neither of these addresses are addresses I recognize or own. My account was compromised, despite me taking all precautions with XXXX, and I have lost all of the money that was stored in my account. Every email I received was from a legitimate Coinbase email address, and all procedures I performed were on the Coinbase website. What I want to know is this : how and when will I be refunded for the {$1900.00} that was taken from my account? Please get this corrected ASAP or I will be contacting the Consumer Financial Protection Bureau to lodge a formal complaint against Coinbase for this unauthorized transfer of my account funds.
Company Response:
State: OH
Zip: 452XX
Submitted Via: Web
Date Sent: 2021-07-07
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-07-06
Issue: Fraud or scam
Subissue:
Consumer Complaint: Case # XXXX - Complaint # XXXX Hello XXXX, Thanks for filing a Formal Complaint with Coinbase. The Disputes Team is currently looking into your Complaint and we require some more time to fully investigate and respond to you. Please allow up to 20 business days to fully investigate your complaint and provide you with a Resolution Notice. Thanks for your patience, we will provide you with a response as soon as possible. Coinbase Support Thank you XXXX Coinbase sent me a email on XX/XX/2021 regarding my unauthorized transaction {$3000.00} wire transfer on XX/XX/2021. Over a month! I havent receive any response from Coinbase.com I was scammed from avatrade platform, stealing money though Coinbase account. They illegally without permission transfer my money from my Coinbase account to another platform! On XX/XX/XXXX, I did report to my Bank, law enforcement and FBI, FTC, FCPB, news station ... I have all the case number can provide if necessary. I think cionbase has a big loophole that allows crooks to use cionbase to steal money and hack into user account transfer money to another platform. I hope Coinbase to stop that and improve security system and return my money!
Company Response:
State: WA
Zip: 98133
Submitted Via: Web
Date Sent: 2021-07-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-07-06
Issue: Fraud or scam
Subissue:
Consumer Complaint: There is a lot of talk about cryptocurrency these days. A friend has suggested that I start buying. After looking at different options listed by XXXX I decided to start learning crypto using coinbase.com. I created an account and bought some cryptocurrency coins. I used the coinbase app for XXXX and the app requires a 4 digit pin. I used the app for about a month only having to use the 4-digit pin and I was not practicing the password. After about a month the app required that I type in my password again. I typed what I thought was my password and the app gave me an error " We are having connectivity issues, please sign on using a computer ''. I switched to my laptop and could still not log in. So I used the " forgot password '' link so that I could reset my password. No reset email showed up in my inbox. I repeated this process 10-15 times and never got a reset email. Next I contacted Coinbase help ( help@coinbase.com ) to figure out why the password reset was not working. Going back and forth over several emails with coinbase help, they continued to give me instructions like " clear your cache '' " update your browser '' " try a different browser ''. I tried all of the solutions and could still not get the password reset button to send me a password reset email. Finally, Coinbase informed me that the only way to get access to the money I have already transferred to the company was to " create a new account, verify that account by uploading my ID, clicking a link in an email ( not a good idea due to phishing scams but I had to comply ), I had to provide the last 4 of my SSN. My new account is now verified and according to Coinbase that is not good enough. They still will not give me access to my money. Now they say I have to log into their website and do a " face scan '' so that they can map my face before they will give me access to MY MONEY. This is absurd. Its hoops after hoops and all they do is keep my money. Coinbase is causing me great harm by worrying about my money for almost 2 weeks now. I have accounts at 4 different banks. If I need to change my password on any of their websites, I can do so in minutes. There is no reason XXXX XXXX, XXXX XXXX XXXX, XXXX XXXX and XXXX XXXX can allow me to change my password, but Coinbase will not. I believe Coinbase has stolen my money and they will not allow me into my own account. This is not right. All I want at this point is to end my financial relationship with Coinbase and have them return to me all the funds they have " stolen ''. If you take someone's money and refuse to give it back that's called " theft ''. Coinbase needs to be fined or sanctioned in some way. If they are doing it to me, they must be doing it to others as well. This is not right.
Company Response:
State: OR
Zip: 97219
Submitted Via: Web
Date Sent: 2021-07-06
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-07-06
Issue: Confusing or missing disclosures
Subissue:
Consumer Complaint: In addition to the claim already submitted with CFPB ( # XXXX XXXX, on XX/XX/XXXX, after the events described above, Coinbase suspended all trading on XRP as a cryptocurrency. While we understand that XXXX has levied violations against XXXX XXXX XXXX XXXX that need to be honored, Coinbases decision to suspend trading on XRP was an arbitrary one and was not properly communicated to consumers. My wife and I both invested in XRP on XX/XX/XXXX and XXXX, at a time when Coinbase was clearly aware of the action against XXXX XXXX ( Coinbase Pro had already restricted trading of XRP as of XX/XX/XXXX ). However, we were not notified at that time of the impending suspension on Coinbases main trading platform. Therefore, in the week after our investment and prior to the freeze in trading, my wife and I would have had to pay both buy and sell fees to Coinbase to recover our investment. Coinbases freeze on trading for XXXX has now been in place for almost six months, and we have received no communication from Coinbase as to when this restriction will be lifted ( if ever ). As a result of Coinbases intentional fraud against their consumers to maximize their profits through fees, etc., my wife and I have been unable to sell or trade our investment in XRP to this date which has cost us and has benefited Coinbase. My wife and I have detailed documentation and evidence supporting the claims made above, and will be happy to provide them if needed.
Company Response:
State: VA
Zip: 22314
Submitted Via: Web
Date Sent: 2021-07-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-07-06
Issue: Fraud or scam
Subissue:
Consumer Complaint: Dear Sir or Madame, I filed a complaint/action with Coinbase approximately XXXX for potentially fraudulent activity on my account. Coinbase locked my account. I eventually was able to access the account, but it had a {$0.00} balance as of XXXX. On XXXX, I had a balance of approximately $ XXXX. Coinbase allowed the money to be removed three ( 3 ) after I reported fraudulent activity resulting in a {$0.00} balance. The issue has not been resolved and frustration continues. They have not made any attempts to replace the funds. Thank You in advance. XXXX XXXX
Company Response:
State: GA
Zip: 310XX
Submitted Via: Web
Date Sent: 2021-07-06
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-07-06
Issue: Other transaction problem
Subissue:
Consumer Complaint: In XX/XX/XXXX and XX/XX/XXXX, my wife and I decided to invest in cryptocurrency and chose to create wallets with Coinbase. As Coinbase does not support jointly owned wallets, we created one for both myself and my wife at the same time, with the intent of investing equally within both wallets. Almost immediately, we observed multiple examples of disparate treatment and fraudulent activities in how Coinbase treated my wallet ( as a white male ) and my wifes ( who is a non-white female ), even though both accounts were created at the same time, and we intended to use them equally. Specifically : When we first created our wallets on the same day, XX/XX/XXXX my wallet was established as verified by just answering a few questions, whereas my wifes wallet required her to upload her drivers license to verify her identity. On XX/XX/XXXX, my wifes attempts to purchase cryptocurrency were denied by Coinbase due to a suspicious activity warning, whereas my attempts to purchase the same amounts of the same cryptocurrency on the same day went through without any problem. We made a request for online support the same day, and we did not receive a reply from Coinbase support until three months later a generic response that provided no specific explanation for why my wifes purchase attempts were denied. Our support case was closed a few days later with no resolution provided. On or around XX/XX/XXXX, my wifes ability to send and receive cryptocurrency to external accounts had been removed entirely, and my wife had to upload her drivers license ( again ) and take a webcam photo to verify her identity. At this point, I still had not had to provide a drivers license at all, and was able to fully access my wallet and buy cryptocurrency throughout. On XX/XX/XXXX, after this second round of verification of my wifes identity ( and after Coinbase had obtained a photo of her ), my wife found that her ability to buy cryptocurrency from a separate bank account had been artificially limited from $ XXXX/day to only $ XXXX/day, with no explanation and no justification in the online documentation. My bank transfer limits remained unchanged at $ XXXX/day throughout. We made a request from online support to return her bank transfer limits to where they had been ( and where mine remained ), and we received an email a few days later saying that our request was denied with no explanation. Coinbase has a responsibility to ensure that their system does not discriminate against any protected basis. As a result of their discriminatory acts, which happened at a time when XXXX prices were rising dramatically, my wife was unable to purchase the same amount of cryptocurrency as I was. As a result, my wifes wallet has approximately 1/3 of the overall investment in XXXX that I was able to invest in. In addition to the above described discriminatory acts, Coinbase has no real option for phone support, so consumers have no recourse but to send an email or complete an online form and hope for a response and the responses received from customer services are generic and unhelpful. We have since realized through numerous complaints we have seen online that XXXX has gotten away without providing customer service since its inception. My wife and I have detailed documentation and evidence supporting the claims made above, and will be happy to provide them if needed.
Company Response:
State: VA
Zip: 22314
Submitted Via: Web
Date Sent: 2021-07-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-07-06
Issue: Fraud or scam
Subissue:
Consumer Complaint: My coin base was hacked and there was fraudulent activities making transfer on blockchain which I never sign up or open an account for.
Company Response:
State: WA
Zip: 98108
Submitted Via: Web
Date Sent: 2021-07-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A