Date Received: 2023-08-31
Issue: Money was not available when promised
Subissue:
Consumer Complaint: I deposited {$35000.00} onto Coinbase on XX/XX/XXXX, which I withdrew {$25000.00} on XX/XX/XXXX. On XX/XX/XXXX, I deposited {$7000.00} bringing my total deposit to {$17000.00}. On XX/XX/XXXX, they locked my funds for 30 days upon deeming my activity suspicious. On XXXX XXXX XXXX days after they locked my funds, I got an email saying my balance was available. When trying to sell my USD Coin and trying to transfer the funds to my bank account, an error message prompt appeared saying my account was still restricted. That same day, I opened a support case where they updated me over several days saying that they were reviewing my account. Today, on XX/XX/XXXX, they sent me another email saying they were closing my case without any information detailing why. I was still unable to withdraw my funds to my bank account, so I called them again. They said my account was blocked until XX/XX/XXXX now, and said they couldn't give me any details as to why. I realized they're probably just putting me through what seems like an infinite loop of dealing with their customer service to no success to steal my funds while using their excuse of not being able to state why they're doing what they're doing. I'm frustrated, and tired of playing nice, and I will speak with my lawyer about pursuing this if this issue is not resolved.
Company Response:
State: NV
Zip: 89135
Submitted Via: Web
Date Sent: 2023-08-31
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-30
Issue: Unexpected or other fees
Subissue:
Consumer Complaint: On XX/XX/23 I logged into my Coinbase account to refund the money i sent from XXXX to XXXX XXXX account and there were several attempts made the prior week, a huge message covers my screen from Coinbase Support stating my account was locked and to contact them to unlock my screen, I called a XXXX phone number ( California XXXX XXXX ) and wrote down the email address : XXXX and thought maybe Coinbase is outsourcing. The XXXX. XXXX answered to assist and I requested a XXXX XXXX. XXXX said will need to work on the account and moved. {$6.00} from XXXX to my XXXX XXXX. XXXX asked me where would i like the refund sent to and I said to my XXXX account, XXXX XXXX asked me to open my XXXX account and moved {$150.00} to a XXXX XXXX account, I told XXXX XXXX that I didnt ask him to take money, I asked for a refund of {$140.00} from coinbase, XXXX XXXXXXXX said he would need to create a dummy account and my XXXX will be refunded in XXXX hours. Later that evening XXXX XXXX called me back and requested i share my screen again through XXXX share to still work on my account, i logged in and later I went back to my chromebook, the {$140.00} was moved to a XXXX account that is not associated with my account. On XX/XX/23, i logged back into Coinbase and spoke with Chat Rep XXXX who provided coinbase procedures and stated they do not accept XXXX payments and would never ask anyone to set up a dummy account On XX/XX/23 I contacted XXXX XXXX stated they would investigate with no response On XX/XX/23 I filed a police report and received Report # XXXX On XX/XX/23 XXXX Support stated I would need to contact the recipient, I told the Tech. that the recipient in a Hacker posing as a Coinbase Tech. XXXX XXXX. stated they can not reverse the payment. Address to Coinbase XXXX XXXX XXXX # XXXX XXXX XXXX, NY XXXX PH # XXXX XXXX Phone XXXX Square Arbitration Division XXXX XXXX, CA XXXX XXXX XXXX XXXX
Company Response:
State: VA
Zip: 23602
Submitted Via: Web
Date Sent: 2023-08-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-29
Issue: Fraud or scam
Subissue:
Consumer Complaint: hi, i reached out to coinbase, couple of weeks ago and yesterday, but coinbase can not assist me, with my complaint to them, how i wish this coinbase platform be more regulated and whoever use it will be more transparent and they can trace who is using it. because coinbase is a hub for scammers. since this is publict traded stock, i thught it was safe to use. I was WRONG. coinbase know my incident and reported this to fbi. i am a victim of scammer, and used coinbase to transfer money to his BTC wallet. The scammer was impostor of XXXX ( there is real XXXX XXXX ) just discovered later in XXXX, but money was transferred already. Coinbase unable to reverse transactions. due to fear i closed my coinbase account.
Company Response:
State: IL
Zip: XXXXX
Submitted Via: Web
Date Sent: 2023-08-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-29
Issue: Fraud or scam
Subissue:
Consumer Complaint: This is to complain against Coinbase. I wish to practice my right as a customer of Coinbase to use your organisation 's service, seeking a formal, impartial investigation to amicably settle my dispute with Coinbase. In order to clear up the myriad of letters and correspondences I have hitherto sent to Coinbase respecting my complaint, I believe it will substantially strengthen both my case and your understanding, by taking a deeper look at the happenings of my case, and analysing the relevant facts in an objective and comprehensive fashion. It is crucial to note that I have been manipulated, socially-engineered and coerced to engage these fraudulent criminals. Much to my embarrassment, I recognise that I am the victim of an investment scam. My complaint to the CFPB has arisen as I do not consider, by any stretch of the imagination, the conduct of Coinbase to be commensurate with their legal role and responsibility to their customers. They sell a service to look after their customers, protect their money and are a financial institution that maintains a traditional relationship and way of working with its customers. During the complaints process with Coinbase, I found their communication ineffective, which further hides their conduct to management and diminishes the service offering to their clients. They are struggling to adapt their business offering in the ever-changing world of IT development. The internet is presenting a real problem which they choose to manage in a way which is not in line with rules and regulations of CFPB as well as their own internal policy and procedures sold to their clients.
Company Response:
State: FL
Zip: 338XX
Submitted Via: Web
Date Sent: 2023-08-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-27
Issue: Money was not available when promised
Subissue:
Consumer Complaint: I bought XXXX dollars worth of bitcoin to send to another wallet, and the money was saved until the next day. The next day it was open, but I had to wait until I wasnt so busy to deal with it. When I retried, it told me I now had to wait a week. So I got upset at the staff, and within a few hours, it was 31 days. I shouldnt have been a jerk, but you can just steal my money. They keep telling me I can still buy more with outside cards, but its obvious they just want to XXXX XXXX XXXX more. I also had another account that wasnt started by me. Not the same bank or anything, and on an old email. They didnt seem to care, and I had to delete it myself.
Company Response:
State: OR
Zip: 97062
Submitted Via: Web
Date Sent: 2023-08-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-26
Issue: Other transaction problem
Subissue:
Consumer Complaint: Account was closed, trying to withdraw remaining BTC ( XXXX BTC ) from vault with approximate value of {$1200.00}. On the account closed page, trying to withdraw the funds does nothing and the spinner just hangs after entering in the withdrawal address. Funds have been locked for almost 3 months now. Requested assistance from support and received automated response and then notice that no more emails will be responded to
Company Response:
State: TX
Zip: 78744
Submitted Via: Web
Date Sent: 2023-08-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-28
Issue: Other transaction problem
Subissue:
Consumer Complaint: The Coinbase.com email and phone support process is not currently providing support to customers with funds that live in certain areas. I have an account with Coinbase.com. There is roughly {$700.00} equivalent in bitcoin in the account. I was advised in XX/XX/2023 and XX/XX/XXXX by Coinbase.com that they were making changes and were closing my account on XX/XX/. Coinbase.com has decided to no longer support certain accounts. Coinbase.com going forward intends to only support accounts from citizens & residents primarily in XXXX and the United States. I understand Coinbase.com is having several problems and that I need to comply and withdraw funds. XX/XX/XXXX was my first attempt to login and withdraw funds as per the XXXX and XX/XX/XXXX emails from Coinbase.com. During login, I correctly provide username, password, and my device authentication code. I can not currently withdraw the funds in my account because the " Accept Updated Terms '' process during login is not working properly and keeps cycling through the same click box and dialogue until the session times out or webpage error dialog displays " Access to www.coinbase.com was denied ; You don't have authorization to view this page ; HTTP Error 403 ''. From XX/XX/XXXX to XX/XX/, I tried various ways to resolve matter by logging-in with different devices and with/without VPN, but none of it worked. On XX/XX/, I started contacting customer support by email and phone. The customer support via phone says that my account is in an unsupported area. I am a US citizen, but have been residing in XXXX for several years where I created the account. Per Coinbase.com website comments, they are experimenting with customer support, which means they are not supporting certain customers. When I send emails through their customer support, the email support tickets are automatically closed ; sometimes within one or two seconds of sending my support email ( usually within 10 minutes ). This is happening because my account email address is associated to my residency in XXXX, which is an unsupported area per Coinbase.com. I reached out to Coinbase.com customer support several times on XX/XX/XXXX with the same result ( phone hang-ups, phone calls not returned, email support tickets automatically closed ). On XX/XX/, I also reached-out to a Coinbase executive officer, who I know personally from a prior employer ; no response too, but obviously all the execs are very busy with everything going on. In total, I have probably contacted Coinbase.com phone and email support about ten ( 10 ) times with no action from Coinbase.com. There should be no such thing as an unsupported area if Coinbase has the customers funds. It seems obvious to me that if a financial institution has customer funds and requested the customer to withdraw funds, Coinbase.com must support those customer accounts with funds whether they are or are not in unsupported areas. Per Coinbase.com emails, I have until XX/XX/XXXX to withdraw funds, but currently Coinbase.com through their customer support process is preventing me from withdrawing funds with possibly a purposeful lack of support.
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2023-08-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-28
Issue: Managing, opening, or closing your mobile wallet account
Subissue:
Consumer Complaint: I have had a Coinbase account since XX/XX/2021. I deposited {$6000.00} into it and used it to buy XXXX, a cryptocurrency. I have been locked out of my account for over a year. Each time I go through the automated steps to get access, it asks me to wait several days, then fails. I am threatened that if I contact live customer service, my request to access my account will surely be delayed by " several weeks. '' Bottom line, I want my money out and can not get it, and I suspect this is deliberate on the part of the company.
Company Response:
State: FL
Zip: 33134
Submitted Via: Web
Date Sent: 2023-08-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-28
Issue: Other transaction problem
Subissue:
Consumer Complaint: Since XX/XX/2022 i have not able to buy or sell because the app tells me that they are doing a manual review and i will not be able to buy and sell untill review ir over
Company Response:
State: TX
Zip: 77084
Submitted Via: Web
Date Sent: 2023-08-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-29
Issue: Fraud or scam
Subissue:
Consumer Complaint: I was a victim of identity theft and have filed reports with the FBI and local law enforcement. I was informed by both to contact all companies with fraudulent accounts and have them closed. All the companies have helped me to close my fraudulently opened accounts except Coinbase. I did not open the account and did not authorize any of the transactions on the account. I would like the account closed and confirmation from Coinbase that the fraudulent account was closed.
Company Response:
State: NJ
Zip: 08043
Submitted Via: Web
Date Sent: 2023-08-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A