Date Received: 2021-06-01
Issue: Money was not available when promised
Subissue:
Consumer Complaint: In late XXXX I used Coinbase to purchase XXXX, the first transaction was on XX/XX/XXXX and this was a total of XXXX ( not including fees ), and then another transaction on the XXXX XXXX and this was for XXXX ( not including fees ). For around a month now, I have been in a constant battle to get my account 'verified ', every time I email them I get the same response of them having a high quantity of emails. This of course is causing me some distress as during this time I have absolutely no control over my own money that is in my account. I have been trying to sell my XXXX and withdraw for 4 weeks now, and there doesn't seem to be any progress, despite multiple requests to the company. It seems crazy to me that they were able to take my money absolutely fine, but when it comes to taking it back, they don't seem to want to know. My biggest worry is that crypto may crash and I will have absolutely no control and I will loose all my money. I am very worried. Any help is super appreciated! Many Thanks, XXXX XXXX
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-06-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-06-01
Issue: Wrong amount charged or received
Subissue:
Consumer Complaint: Coinbase withdrew {$500.00} from my bank account twice without my authorization starting XX/XX/21. They then froze me out of my own account, which remains frozen to this day XX/XX/21. With funds over {$3500.00} at the time, I could have cashed out at the peak for XXXX. I contacted the company over 10 times and they could not care less. I have seen thousands of other people sharing the exact same experience online as well. My guess was to freeze accounts in order to inflate their holding prior to their IPO. Do not use Coinbase
Company Response:
State: TX
Zip: 75040
Submitted Via: Web
Date Sent: 2021-06-01
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-06-01
Issue: Unauthorized transactions or other transaction problem
Subissue:
Consumer Complaint: Hello, I had an account with Coinbase for digital currency, crypto. On XX/XX/2021 I woke up to emails stating that all my coins were converted into BTC ( Bitcoin ) and then withdrawn from my account without my approval or consent. I immediately messaged Coinbase Support Systems and have yet to get any solid information. They sent me back an email stating that they would get back to me with results. A week passed and no information was sent to me on updates other than their original message of them looking into it, so I sent another message asking for updates. Thats when I was told that I would have answers in 4-5 days. It is now Tuesday, XX/XX/XXXX and I still have no answers besides the fact that they were hacked. I have yet to receive anything informing me about receiving my coins back, being compensated, how they plan on preventing this from happening again, or even being able to open my account that still has money Ive invested in it. This is extremely unprofessional, disrespectful, and shows that my concerns dont matter about something that they allowed to happen. I would like immediate compensatory damages and/or punitive damages to be taken towards this company for the theft of my coins and for the values that they would now be in standings with. Im just ready to get this handled and moved on from because seeing that this isnt the first time Coinbase has been accused of these accusations due to recent research, I just want to get my money at its updated current value now, compensated for neglect/safety/inconvenience, and access to my account so that I can remove my last currency from their site. If I can please get some help, Id gladly appreciate it. Thanks for your time!
Company Response:
State: IL
Zip: 604XX
Submitted Via: Web
Date Sent: 2021-06-01
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-06-01
Issue: Wrong amount charged or received
Subissue:
Consumer Complaint: 1st Issue- On XX/XX/XXXXI initially opened my account with Coinbase and tried to deposit {$3500.00} into my Coinbase account from my XX/XX/XXXXXXXX XXXX account with the rationale that when I attached my bank account to Coinbase that I would be able to just purchase the cryptocurrency via one lump sum that I deposit into Coinbase. I did not realize that I could purchase each cryptocurrency directly from my bank account in separate transactions. Therefore, when I started to purchase crypto ( 1st transaction for {$930.00} on XX/XX/XXXX and 2nd transaction for {$2600.00} ) it actually started drawing from my bank account and not using the {$3500.00} that I thought I deposited into Coinbase. This caused my bank account to refuse the initial {$3500.00} deposit and Coinbase requested the payment for both transactions from me and I paid them both in full which is a total of {$3500.00} on XX/XX/XXXX which brought my balance down to XXXX. However, Coinbase deducted {$3500.00} from my investments ( Coinbase ) account anyway on XX/XX/2021 as a result I would like Coinbase to refund my money in the amount of {$3500.00} as a means to rectify this mishap because they are double dipping. 2nd Issue- On XX/XX/XXXX ( the same day ) I realized that I had earned a profit of {$3000.00} from the {$3500.00} that I invested and tried to withdraw the profit and mistakenly hit deposit {$3000.00} instead of withdraw. Now Coinbase is going to withdraw another {$3000.00} due my error and I only purchased {$3500.00} worth of crypto. Coinbase is still trying to take the money that no longer needs to be deposited because I owe nothing and I covered all of my fees. Basically, I paid for all of my crypto and now Coinbase is trying to take {$6500.00} from me and take advantage of my mistakes especially as a new user. Any initial credit that Coinbase provided to pay for my crypto was paid back on XX/XX/XXXX. I contacted them on 4 separate occasions and have not gotten any assistance other than a summary of my transactions which show that I have a zero balance and owe no one but myself and two emails stating that they will be deducting the total {$6500.00} by XX/XX/XXXX. Basically, they are trying to take all of my profit earnings. I would like to file this complaint and request that my funds be returned because this is unjust and frustrating. I can not speak with or actually communicate with a human being at Coinbase and they are trying to take advantage. Please help me. Please see Coinbases summary below. I responded to the below summary and no assistance. On Thu, XX/XX/2021 at XXXX XXXX Coinbase Support XXXX wrote XXXX Hello XXXX, Thank you for reaching out to Coinbase. Your purchasing ability is currently restricted due to a recently reversed purchase/deposit. Coinbase has not received successful payment for funds that were credited to your Coinbase account. To clarify what has happened, please see below : On XXXX XXXX XXXX PST, you initiated a deposit of {$3500.00} using your payment method ending in XXXX. This was successfully credited to your Coinbase account instantly. On XXXX XXXX XXXX PST, you initiated a buy of {$930.00} using your payment method ending in XXXX. This was successfully credited to your Coinbase account instantly. On XXXX XXXX XXXX PST, you initiated a buy of {$2600.00} using your payment method ending in XXXX. This was successfully credited to your Coinbase account instantly. On XXXX XXXX XXXX PST, you initiated a deposit of {$3000.00} using your payment method ending in XXXX. This was successfully credited to your Coinbase account instantly. On XXXX XXXX XXXX PST, you initiated a deposit of {$3000.00} using your payment method ending in XXXX. This was successfully credited to your Coinbase account instantly. On XXXX, your bank reversed the charge for {$930.00}, citing the error Insufficient Funds ( XXXX ) which caused a negative balance on your account. On XXXX XXXX XXXX PST, you then completed the transaction by processing your USD Wallet for {$930.00}, which brought your balance down to {$0.00}. On XXXX, your bank reversed the charge for {$2600.00}, citing the error Insufficient Funds ( XXXX ) which caused a negative balance on your account. On XXXX XXXX XXXX PST, you then completed the transaction by processing your USD Wallet for {$2600.00}, which brought your balance down to {$0.00}. ( My balance was XXXX at this point and they still took my profits to cover the money that should have never been taken from me because I paid my debt. ) On XXXX, your bank reversed the charge for {$3500.00}, citing the error Insufficient Funds ( R01 ) which caused a negative balance on your account. On XXXX, your bank reversed the charge for {$3000.00}, citing the error Insufficient Funds ( R01 ) which caused a negative balance on your account. Therefore, you currently have an owed balance of {$6500.00} which you will need to pay before you are able to use your Coinbase account. Per our user agreement, you are fully responsible for any transfer you initiate on your Coinbase account. Please select your desired external payment method or use the digital/fiat currency that was credited to your Coinbase wallet. You can select a payment method using this link : https : //www.coinbase.com/payment_required After you deposit funds into your Coinbase account, our system will automatically reclaim the owed amount. If you would like to deposit digital currency, you can find your crypto addresses here https : //www.coinbase.com/addresses Please note : If you do not select a payment method within 5 days of the reversed charge, we will automatically attempt to recover this amount from your linked payment methods and your funds held onsite. We hope this clears up any confusion. If you are unsure about the reason your bank reversed the charge, please contact them for further explanation and to find out what is needed to avoid this situation in the future. Also, if this does not match up with what you see in your bank account, please do let us know as we want to be sure that everything is correct. Thanks, Coinbase Support
Company Response:
State: FL
Zip: 34684
Submitted Via: Web
Date Sent: 2021-06-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-05-31
Issue: Other transaction problem
Subissue:
Consumer Complaint: Hallo, My name is XXXX, and I am a citizen of XXXX XXXX with a Coinbase account. Recently I damaged my cellular telephone and along with it went my XXXX authenticator keys. The keys can not be recovered and subsequently my access to my funds have been inaccessible. I have reached out to coinbase and they constantly say they will get back to me in 4-5 business days to begin the process or restoring access to my account and they have failed to do so going back to around the middle of XXXX now. I feel as though Coinbase is not taking this matter seriously and that they are using offshore agents whos primarily language is not English to being with and they are not properly handling this issue at all. No one is taking an interest in assisting me and it feels simply an exercise in frustration. This matter is at is causing me a lot of stress and anxiety. I have spent countless hours trying to fix the shortcomings of Coinbase support and I am now forced to continue to escalate this matter just shy of filing a formal lawsuit, which I am trying to avoid. Looking forward hearing from you and how I can get acces to my Coinbase again. Kind regards, XXXX XXXX
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-05-31
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-05-31
Issue: Fraud or scam
Subissue:
Consumer Complaint: Hello, This is a formal complaint about the crypto currency exchange that is Coinbase. Coinbase has locked me out of my account and done nothing in the slightest to help me resolve my issue in the last month except for templated emails and useless responses. On XX/XX/XXXX I locked my account due to an accident concerning the changing of my dual authentication for the website. I then emailed coinbase support to unlock my account while giving them the necessary details. They responded to me fairly quickly the next day saying they have passed it on to specialists and will get back to me within 4-5 days. 9 days then pass and I make another support ticket only to be merged with the first ticket I created, saying that they would get back to me within another 4-5 days. I have since emailed them three times every few days asking for assistance or updates, to which nothing happens. I am almost positive I have never been into contact with a real human and am just receiving automated messages. It has now been almost a month and coinbase is illegally holding my money and refusing to cooperate with me, as well as thousands of others. I hope that this can be resolved in a timely manner, thank you.
Company Response:
State: IN
Zip: 47401
Submitted Via: Web
Date Sent: 2021-05-31
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-05-31
Issue: Other transaction problem
Subissue:
Consumer Complaint: On the afternoon of XX/XX/2021, I was informed that Coinbase support has temporarily disabled my account because I may have been a victim of a possible scam. This was quite odd that this happened on the day after I submitted a trade on XX/XX/2021, to buy {$3000.00} cryptocurrencies. I replied later in the day that I did all the necessary precautions like antivirus scan and reset my password. I replied and several times later to restore my access to my account. I even filed a complaint with Coinbase support on XX/XX/2021, that they have not replied and still no action from them. Support did ask me to tried login in few times but still said disabled. They reply that an account specialist will reply with 4 to 5 business days. It has been a month and not action from them
Company Response:
State: NY
Zip: 11364
Submitted Via: Web
Date Sent: 2021-05-31
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-05-31
Issue: Other transaction problem
Subissue:
Consumer Complaint: I sold some crypto currency for cash on coin base. They were having issues with transactions to XXXX XXXX, the issue has been resolved but still my funds are not available in XXXX and when I try contacting them they keep coming up with different excuses and closed my case!! I still haven't received my funds and can not get a straight answer from anyone or even any communication anymore.
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-05-31
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-05-30
Issue: Other transaction problem
Subissue:
Consumer Complaint: On XX/XX/XXXX I had about XXXX in crypto in my account In the evening of XX/XX/XXXX my money was gone and there was XXXX Bitcoin The XXXX was an attempted charge on my debit card that thy fronted in my account but is denied because I dnt have those funds After dealing with my bank it seemed like my acct was compromised Coinbase keeps telling me about insufficient funds in my account to fund the XXXX Bitcoin purchase when ch was not me But still has not responded to where my XXXX dollars went Where and who stole my money
Company Response:
State: FL
Zip: 334XX
Submitted Via: Web
Date Sent: 2021-05-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-05-30
Issue: Fraud or scam
Subissue:
Consumer Complaint: On XX/XX/2021 at approx XXXX i notices my coinbase account and emails had been breeched. On the coinbase home screen there were address logging in to my account by the minute ... a full page full. I began removing the charges one by one and then coinbase disabled the account due to fraudulent activity. However, my email address and phone number associated with the account were changed. My emails were filtered to go to an unknown address so I didn't receive notifications. I have most of my assets in the coinbase vault which requires approval from 2 email accounts but both of those were breeched. I never received an email regarding whether or not the coinbase vault withdrawals were initiated ... but if they were, those notifications were sent to another email or deleted. The account was set for recover on XX/XX/XXXX. The email address I started coinbase with was closed by the hackers but I have a private investigator and we are in the process of reconstructing it. Time is of the essence. I still have the original phone that I started the account with so I don't understand how they were able to change the phone number without facial recognition. I had around 190 thousand dollars in this account and I did not approve any withdrawals or liquidations. As time passes ... the hackers/scammers just have more time to figure out how to get into my account. I initiated support tickets immediately, and everything should have been shut down well before the 48 hours before vault funds are moved. Original documents should be asked for to prove identity being that the hackers had access to my account passwords. These include original bank statements. Photo uploads of drivers license and not file uploads. Some investigation of the validity of the original phone number used and a trace of the phone number that the account was changed to. I've set up several email addresses to communicate with coinbase, and they get hacked as well. Passwords changed. To keep me from communicating and knowing the updates to my account. As of right now the log in says that my account doesn't exist. This should not be difficult to trace if everything wasn't automated. A simple phone call can save people their life 's savings
Company Response:
State: TX
Zip: 77630
Submitted Via: Web
Date Sent: 2021-06-07
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A