Date Received: 2021-05-25
Issue: Other transaction problem
Subissue:
Consumer Complaint: I have an account with Coinbase to buy and sell crypto currencies. On XX/XX/XXXX I contacted them to freeze my account because I thought that my account may not be secure. They froze it but when I asked them the next day to unfreeze it, they did not. For 10 days I have asked them to unlock my account. I have only received auto responses. No one has reached out to me and my account is still frozen. Since the time that I requested that they unfreeze my account, the value of my investment went down almost 50 %. I have no access to my account and I have no means to communicate with Coinbase. They do not have an address or a phone number. A customer can only send messages thru their website. The website only send auto responses.
Company Response:
State: NV
Zip: 89131
Submitted Via: Web
Date Sent: 2021-05-25
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-05-25
Issue: Managing, opening, or closing your mobile wallet account
Subissue:
Consumer Complaint: My only goal in filing this complaint is to get Coinbase to respond to me and help me gain access to my account again. Here is the problem simply stated : When switching to a new phone, the two-factor authentication stopped working. When trying to sign in to Coinbase, XXXX XXXX provides 8 numbers and Coinbase only allows me to enter 6. I can't be the only one with this issue. They do not have a support phone number to call, nor respond to any messages or support tickets. Please see the attached filled with automated responses and promises of specialists reaching out. For months now, I have not been able to access a significant portion of my savings. If you can get them to respond to me, that would be so incredibly appreciated.
Company Response:
State: CA
Zip: 90048
Submitted Via: Web
Date Sent: 2021-05-25
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-05-25
Issue: Managing, opening, or closing your mobile wallet account
Subissue:
Consumer Complaint: On XX/XX/XXXX I invested {$25000.00} in 4 cryptos using the Coinbase platform. On XX/XX/XXXX my account was frozen. I filed several requests to have my account restored. They wanted verification of ID using a camera. Their camera was so unstable I was unable to successfully get a pic. I informed them of this and asked for an alternative ID process. They kept insisting on the pic. Finally, on XX/XX/XXXX a friend helped me get the pic. The ID was accepted on XX/XX/XXXX and my account restored for 3 of the cryptos which I immediately transferred off the platform which incurred a fee. The 4th crypto was XXXX which was under SEC investigation. They froze that crypto on XX/XX/XXXX without allowing investors to sell, trade or transfer it. No notice. So I still have {$5000.00} in XXXX frozen resulting in loss of $ XXXX that I could have sold the XXXX in this period. Given the volatility of cryptos, denying me access to my crypto for 8.5 months has cost me over {$100000.00}. I believe Coinbase 's actions were illegal, without conscience and fraudulent given they advertised I could trade on their platform. Reasonable compensation would be {$100000.00} and freeing my XXXX to be transferred. At best, they have been heavy handed and unresponsive. They should have never been allowed on the stock exchange.
Company Response:
State: TX
Zip: 78028
Submitted Via: Web
Date Sent: 2021-05-25
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-05-25
Issue: Unauthorized transactions or other transaction problem
Subissue:
Consumer Complaint: I was trying to transfer my xlm coin from my coinbase wallet to The coinbase exchange and in the process they disappeared during the transfer I've reached out to coinbase on several occasions to try to fix this issue and now I'm being ghosted and can't get a hold of anybody it really feels like I've been played here.
Company Response:
State: NV
Zip: 890XX
Submitted Via: Web
Date Sent: 2021-05-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-05-25
Issue: Other transaction problem
Subissue:
Consumer Complaint: XXXX has locked me out from access to my account. They are the custodian to approximately {$250000.00} of cryptocurrency that I have acquired through their exchange. Four weeks ago they locked my account due to security concerns regarding login from an unrecognized IP address. I have submitted a support ticket and complaint as they refuse to respond to my concerns or even reassure me that my assets are safe. Their standard response email states that they need 4-5 business days to respond but I know from other reported experiences that it is very common for Coinbase to ignore their clients. I have linked federal banking institutions to provide XXXX XXXX to fund my purchases. They are holding my assets and money hostage and their INACTION is criminally negligent amd fraudulent. My support claim number is # XXXX I beg and plead for your assistance. XXXX XXXX
Company Response:
State: SD
Zip: 57108
Submitted Via: Web
Date Sent: 2021-05-25
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-05-25
Issue: Money was not available when promised
Subissue:
Consumer Complaint: I deposited {$1000.00} into my Bitcoin Vault on Coinbase on XX/XX/2021 at XXXX AM using my XXXX Bank Account. The status of the deposit was instantly marked completed on this deposit details, but I was required to wait 7 days for my money to be used, traded for other cryptocurrency or sold, which I wasn't happy about but accepted it. During that 7 days, obviously the price had fluctuated. Unfortunately for me, it fluctuated downwards and I lost just over {$100.00}. After the 7 days hold period, and the funds were marked as " available '', I tried moving my funds from my vault account into my regular Bitcoin wallet. At this point, you are not able to use the app to move the funds and you have to do it from their website. I go to their website only to be met by, yet again, another verification hold time limit. To move funds from the vault it states you must verify the move using 2 different email addresses. I submitted the transaction to move all of my funds from my vault into my Bitcoin wallet, verified the transaction on the coinbase website itself by clicking the " Approve Withdrawal '' option, then also approved it through my email. Their website says that after 24 hours the funds will be moved and available for use. That was 7 days ago. Their customer service is virtually non existent, as I have tried calling with no response as well as sent over 25 emails to their support department only to be told that a " specialist '' is now handling my issue and that I will receive an update in 4 to 5 days. That also was over 7 days ago. At this point, my funds are at the mercy of coinbase. I am unable to trade and/or move any of my funds out of the vault and can only watch my money go straight out the window. The only info I have been provided is a case number, which is XXXX # XXXX. MY MONEY HAS BEEN STOLEN BY COINBASE. I am literally at my wits end with Coinbase and their lies and lack of customer service.
Company Response:
State: IL
Zip: 61115
Submitted Via: Web
Date Sent: 2021-05-25
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-05-25
Issue: Other transaction problem
Subissue:
Consumer Complaint: On XX/XX/21, Coinbase.com temporarily suspended my account due to concerns of hacking activity. They promised to get back with 4-5 business days which is now past without any communication. Ive emailed them countless times, filled out customer service notes, tried to get their attention on XXXX, XXXX, nothing. They dont even acknowledge my messages. This is my ticket number # XXXX.
Company Response:
State: PA
Zip: 19002
Submitted Via: Web
Date Sent: 2021-05-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-05-24
Issue: Other service problem
Subissue:
Consumer Complaint: on XX/XX/2021 I sent a wrong crypto currency to my coinbase account. I meant to send XXXX from my XXXX XXXX account, but instead sent XXXX XXXX XXXX. I sent {$3700.00} worth of XXXXXXXX ( {$3600.00} XXXX after fees. I then saw my mistake and searched for ways to recover this money. It is not a complicated process at all is what I gathered from research, the only problem is Coinbase. They refuse to help customers when a customer accidentally sends their crypto currency to their addresses. In fact, they do not respond to customer service requests period it seems. I've read lots of forums with people stating that Coinbase will simply reply to customer service requests by suggesting they look at the FAQ page of Coinbase or they just have an automated response, which will never provide answers customers are looking for. I have submitted requests to coinbase before, but they have never answered. Their website implies that Crypto Currencies sent to the wrong address can not be recovered, yet they also have a blog that states they will are working to be able to recover them eventually but they give no information as to what tokens we can expect to be recoverable, or how to request tokens a customer may want to recover.
Company Response:
State: MN
Zip: 55433
Submitted Via: Web
Date Sent: 2021-05-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-05-24
Issue: Fraud or scam
Subissue:
Consumer Complaint: I had a coinbase account to buy cryptocurrency. On XX/XX/XXXX, my account was hacked and i couldnt log in. I contact coinbase support and they help me out to have access to my account. So it took around 3 days to get access to my account. Once logged in i notice that my money was gone. Around XXXX $ in Bitcoin and XXXX currencies. Also, i had withdrawals from my bank account in XXXX XXXX for the amount of XXXX $ on XX/XX/XXXX. They bought more Bitcoin and then they transferred everything to another account. All my money is gone. I contact once again Coinbase support team and now they stop answering. Since the end of XXXX i havent got a response from Coinbase Support. I file a complaint with them and no answer.
Company Response:
State: PR
Zip: 00646
Submitted Via: Web
Date Sent: 2021-05-24
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-05-24
Issue: Fraud or scam
Subissue:
Consumer Complaint: I opened an account with coinbase www.coinbase.com and when I wanted to withdraw my money then their app says account under review, I tried to contact them via different ways both answer yet, this has been like this for over 3 months already, I even told a friend that lives in XXXX XXXX to go to their office and there is nothing there. Please help me to recover my money, it's a fraud, there are forums with other people in the same situation. Thank you XXXX XXXX
Company Response:
State: FL
Zip: 33186
Submitted Via: Web
Date Sent: 2021-05-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A