Date Received: 2021-05-13
Issue: Fraud or scam
Subissue:
Consumer Complaint: Hi sir Afternoon I am XXXX XXXX XXXX. I have downloaded the Coinbase app from XXXX XXXX and have invested {$100.00} ( XXXX ) into the cryptocurrency. Been dropping to their support email for couple of times and no response from them. I just want to get my money back. I have email to Coinbase Email for past weeks and till no reply. We really appreciate if you can look into this email urgently. As not only me affects, got quite a huge number of people.
Company Response:
State: CA
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-05-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-05-13
Issue: Other transaction problem
Subissue:
Consumer Complaint: On XX/XX/2021, I decided to close my crypto account with Coinbase.com. I had {$980.00} that was supposed to transfer to my bank account, but when I tried to initiate the transaction I kept receiving the error " you're closing too many accounts, try again later ''. I contacted Coinbase to inform them of the problem and generate a case # # XXXX and was told that it was being transferred to a " specialist ''. I have not heard from anyone since then and my money is in " limbo '' with no resolution in sight. I need some assistance as I need this money for other purposes. Please help me. Thank you in advance for your attention and assistance. Sincerely, XXXX XXXX
Company Response:
State: TX
Zip: 78664
Submitted Via: Web
Date Sent: 2021-05-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-05-13
Issue: Unauthorized transactions or other transaction problem
Subissue:
Consumer Complaint: I opened a Coinbase account in XXXX of 2021. On XX/XX/XXXX I noticed a charge for a currency that I didn't recall buying but I could not understand if I made a mistake or if there was an issue. I contacted them and was told to verify my bank account information to see if additional withdraws were made and to change my password. They would disable my account until I verified that I had completed these items. I did both and contacted them to reinstate my account. After that, they never opened my account or would give me access to my funds. There have been several changes in the market and I am losing money by not being able to play the swings in the currencies. There is XXXX or more in the account and I can't do anything with it. I have been issued 6 different case numbers and then a few days later I will check back and they have closed the case. I still can't get into my account. I even changed the password again but it still says account disabled - contact customer service. You never reach a human and there is no number that you can reach them. I can't believe they were allowed to be a publicly-traded company on the stock exchange and they can't be reached. I have filed a complaint with the SEC and the Federal Trade Commission. I would be glad to send you a screenshot but they erase it within seconds of the disabled message
Company Response:
State: GA
Zip: 306XX
Submitted Via: Web
Date Sent: 2021-05-13
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-05-13
Issue: Fraud or scam
Subissue:
Consumer Complaint: On Tuesday, XX/XX/2021, I found out that I could not access into my account with Coinbase. I tried several times to login to no avail. On XX/XX/2021, I received a message in my computer from Coinbase acknowledging my efforts to login without success. They said in the message that I will receive a telephone call from Coinbase, to help me to login in my account. On Tuesday, XX/XX/2021, at XXXX XXXX., I received a telephone call from XXXX XXXX identified himself to be an employee of Coinbase and he was calling to help me with the login. He requested my personal information, the password for my email account. He knew my password for Coinbase. He told me that I have to wait to use my password for 12 hours. That he will call me on XX/XX/2021 at XXXX p.m. to verify that all was in order. He left a telephone number XXXX XXXX XXXX XXXX. On XX/XX/2021 at XXXX XXXX. I called that number to find out that it was a bad number. On the same day XX/XX/2021 I received an email from Coinbase informing that the {$23000.00} in Bitcoin has been transferred to an unknown person or account. It is obvious that someone with Coinbase, Inc. perpetrated the theft of my money. I hold Coinbase, Inc. directly responsible for this theft. I request to be reimbursed for my loss forthwith.
Company Response:
State: CA
Zip: 90201
Submitted Via: Web
Date Sent: 2021-05-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-05-13
Issue: Other transaction problem
Subissue:
Consumer Complaint: I XXXX XXXX called Coinbase in regards to a problem on XX/XX/2021. I was assigned a specialist. XX/XX/2021 my coins started disappearing. I emailed the company over 200 emails because there is no way to talk to a live operator. No reply. No help. Despite begging to stop those transactions. They are mine. Im being robbed. I filed a Police Report, I filed with the fbi, I filed with the ftc. I am not getting any help. How can a US company have no customer service and help their customers after pleading for help.
Company Response:
State: NJ
Zip: 074XX
Submitted Via: Web
Date Sent: 2021-05-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-05-13
Issue: Other transaction problem
Subissue:
Consumer Complaint: On XXXX21 at XXXX XXXX. I received three text messages saying my Coinbase verification code is XXXX. I found this to be odd because I hadnt had any transactions or authorized any transactions in my Coinbase account in months. At that time I opened my coinbase account to see what was going on and I noticed my XXXX had been sold and multiple transaction were being made without my authorization. Someone had hacked into my account and was selling off and stealing all my assets. I had already lost {$8000.00} and they werent done. I was able to send {$3300.00} to my personal bank account which I thought would be safe but the hackers immediately made a transaction from my personal bank account which was linked to coinbase for {$3000.00}. So I lost the {$3000.00} from my bank also. I immediately tried to call the phone number provided by coinbase but had no luck. I found an email option to file a fraud cause, so I did. Fraud case # XXXX was filed on my behalf. The return email stated that they received my email and would reply once they had more information to give and at this time my Coinbase account is locked. I have not heard anything back from Coinbase and are unable to talk to anyone about this case. Ive potentially lost around {$14000.00} and cant gain access to my account to actually see how much damage has been done. Id like to at least speak to a Coinbase representative to know they really are trying to help me. Ive read horror stories since this incident about Coinbase customer service and Im starting to see why there is so much distrust in Coinbase. I need someone to help me with this issue. Im just a blue collar worker trying to invest small amounts of my check each week Im hopes of making some extra money for retirement and its been stolen and I cant even speak to nobody about it. Coinbase is a multi billion dollar publicly trade company with zero customer service. PLEASE HELP! Thanks for your time XXXX XXXX XXXX
Company Response:
State: IN
Zip: 46953
Submitted Via: Web
Date Sent: 2021-05-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-05-12
Issue: Unauthorized transactions or other transaction problem
Subissue:
Consumer Complaint: On XX/XX/2021, I made a purchase on the cryptocurrency exchange Coinbase in the amount of {$100000.00}, following an unsolicited increase in my daily limit on purchases from bank accounts from {$35000.00} to {$100000.00}. In the days prior, I had been liquidating my IRA to move it into crypto, and had made several purchases totaling {$35000.00} a day. The purchase limit increased incrementally over the day to {$35000.00}, so I was making two purchases a day, all in amounts between {$10000.00} and {$25000.00}. I thought nothing of the mysterious increase. Note that the Coinbase website indicates my limit as {$35000.00}, and does not describe a {$100000.00} limit anywhere. The increase appeared in my purchase window on my smartphone only. Immediately following my {$100000.00} purchase, five subsequent withdrawals were made from my bank account, totaling {$100000.00}, each in amounts matching prior legitimate transactions I had made. After my legitimate purchase, my bank account balance was {$17000.00}. After these five unauthorized transactions, my account became overdrawn by over {$71000.00}, taking all the cash that I had left myself with it. Initially, all five of the transactions were declined due to insufficient funds ; the first transaction was {$25000.00}, the next {$20000.00}, then {$18000.00}, then {$15000.00}, and finally {$10000.00}. Had the last two transactions been tried first, one of them would have cleared right off the bat. I immediately called my bank to report the transactions, and have reported them all as fraudulent. As of today, XX/XX/XXXX, Coinbase has cancelled all but one : the {$18000.00} transaction, initially declined, not the largest, not the smallest, but the largest one that my balance and small overdraft protection would clear. And it has been paid, meaning that $ XXXX is at this moment beyond retrieval. Coinbase has less than minimal customer support, and I have received only boilerplate replies and a case number. After having reviewed the complaints on here, and hearing of the Coinbase complaints flooding my bank 's fraud department, I can only presume that their lack of customer interface is by design. I also suspect that at this point, after years of these " hacks '' and subsequent complaints and bank activity, the fact the this fraud remains commonplace can only mean one thing, and that is that what I'll term Temporary Customer Fraud is part of Coinbase 's business model. Whether this is endemic to management, or the result of compromised employees, is uncertain. But Coinbase has done effectively nothing to address it. This is only possible in cryptocurrency, where having custody of customer funds for only a few days can bring in generous returns. The customer is returned the original amount, none the wiser that the profit made from that money has not been returned. Yesterday Coinbase informed my that in 5 days they would reclaim the entire {$100000.00} from my cryptocurrency balance, and locked my account. Having not heard from them in any real sense since, I am submitting this complaint prior to their " reclamation '' in the hope of preventing it. From what I've read, I shouldn't be expecting resolution initiated by Coinbase anytime soon, and I don't have that time.
Company Response:
State: NY
Zip: 11101
Submitted Via: Web
Date Sent: 2021-05-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-05-12
Issue: Fraud or scam
Subissue:
Consumer Complaint: I purchased XXXX, approximately two years utilizing the Coinbase application. I haven't used the application since the original purchase. I tried selling the position that is now valued at XXXX dollars and the application says my account is restricted and to contact support. I am only able to send a request on their support page and did so about 3 weeks ago and again last week. I can't get a response and my account is still restricted and I am unable to sell the position and remove my money. Coinbase doesn't have a phone number available for customers that purchase crypto on its application and I can't withdraw the current value of my holdings or/and the XXXX I put in.
Company Response:
State: FL
Zip: 32566
Submitted Via: Web
Date Sent: 2021-05-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-05-12
Issue: Money was not available when promised
Subissue:
Consumer Complaint: To whom it may concern : My name is XXXX XXXX & my email address is XXXX - I am sure its aware that you had more dealings with me during the Obama admin. Speaking of him, I have to also be realistic as everyone from news to ppl on the street continue saying, if you do what you do how many people really know what you do. For myself, one day during Obama, I go on your site and it was the first one I ever seen that said an official site of the United States govt.. From my prior experience, I wrote to you regarding private companies and state governments. I think that so much of what I do, obviously I have no idea that my future consists of xyz. I still go through craziness but have to remind myself that not only dont I have one tattoo on my face saying XXXX - but even here in XXXX XXXX, where I think anyone walked right by me could be XXXX and Im sure a few were. But the thing neither you guys and others will never get is that in that oath that many take to protect from enemies far and within, you do get how no one having an inkling I am XXXX, treat me like as they treat everyone but when my agency uses its ability to control realities, to control mine and an experience that I experience whatever I do not even an inkling of having the Supreme Court rule if its constitutional or not. Post XXXX, anyone or any company that i complained to you about, you took care of the situation. Yes Im XXXX but in this world that I have to just understand that if what I experienced was XXXX up and as with Obama and others would say that I am as fair as it gets, for someone who is known to have no rules or laws to live by, why dont I just get this issue fixed? Here goes. You know coinbase.com / last week, I lost one of my XXXX here in XXXX. I called coinbase to temp disable access to my account until I tell them further. For the past week, I changed my coinbase password some six times. Id go two days of their automatic messages saying since covid, theyve been getting massive amounts of phone calls and either tell me they will call me back and never do. The other option Ive received is just hanging up on me. Isnt their its not a right but its closest to a right, its us law. Isnt their a us law that states financial institutions that knowingly and wilingly holds a client from their funds then in my world, that financial institution has no place in our society. I literally have like XXXX in that account and it doesnt matter if its XXXX dollar or XXXX XXXX coinbase sent me an email that I attached to this and says, your acct recovery process is done, just change your password and youll be logging back into your account. Its been eight days that coinbase, knowingly and willingly held me from my funds. Its a national emergency with covid and its an emergency for. Me to gain access to my account again.
Company Response:
State: NV
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-05-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-05-12
Issue: Fraud or scam
Subissue:
Consumer Complaint: In an effort to add more security wtih my account login at Coinbase I added two-factor authentication to the account, suggested by Coinbase. The entity I chose was XXXX XXXX. Within 24hrs of adding this my cell phone started having issues with text messages, etc. I spoke to a friend about this and was informed that he experienced the same issues when using XXXX XXXX. Furthermore, I read of more troubles with others about this online. So, I chose to remove it from my phone. Upon attempting to login to my Coinbase account at a later time I learned that I would need to submit the front and back of my driver 's license and a webcam picture of my face as well. I completed this. Additionally, I re-installed XXXX XXXX to my cell phone and re-linked Coinbase to the XXXX XXXX app. I was not able to login. Upon original installation of XXXX XXXX to my cell phone, I had to take a picture of a barcode on the Coinbase site using the XXXX XXXX app to take the picture. This was to link XXXX XXXX to Coinbase. When I uninstalled the XXXX XXXX app from my phone, this, I suppose, caused the barcode to get lost in space. So, even though I re-installed XXXX XXXX and re-linked Coinbase to XXXX the barcode was lost. I was told this was the case by a XXXX XXXX tech person. They did inform me that I would need to communicate with a Coinbase tech person to resolve this issue ( impossible ). Some of the additional efforts I've made to resolve this issue are as follows : Re-submitted front and back of driver 's license and webcam picture of my face, opened a Coinbase Pro account, in addtion to the XXXX account ( traditional/problem account ) with all of my credentials ( includes webcam picture of my face and front and back of driver 's license- did this in hopes of transferring assets from problem account to new Pro account ), spent hours upon hours online reading about other 's having the same issues and efforts they made to resolve being locked out of account, mostly unfruitful ). One of the criteria I considered when opening an account with Coinbase was that they had a phone number if I ever needed to speak to someone. However, that one and only phone number was not for customer service to speak to anyone. It is only for reporting that an account has been compromised. I learned this when I attempted to contact them on XX/XX/21. When I called I first chose the option for did not have six digit code anymore, then the option that I no longer had device ( cell phone ) and finally out of frustration, due to realizing it was not likely I'd be able to talk to anyone, I selected the option that my account had been compromised, thinking for sure this would bring me in contact with someone. That was not so, and I believe my account was locked. However, when I arrived home that day, I discovered while online on my desktop pc and on the Coinbase site, that there was an option, which I chose, saying that I made a mistake indicating my account had been compromised. This phone call event actually led up to the procedure of my having to submit the front and back of my driver 's license. I specifically bought a webcam for {$50.00} at XXXX XXXX just to do as Coinbase requested of me, in supplying them with a webcam picture of my face. So far, that was a waste of time, as I am still not able to login to my account ( as of XXXX-1.5 months later ), nor, it seems, get an actual person to communicate with me to resolve this. I believe all email I have received has been auto responses telling me that someone will be in touch with me soon to address the problem, but soon never comes with Coinbase. I have asked the question about transferring my problem account to my XXXX account, which I believe is a possibility, but Coinbase will not address that question at all, though I've asked multiple times. I've asked many of the same questions and others dozens of times, but no response from a person. I have never received such atrocious customer service in all my life and I'm XXXX years old, so I've been around at least a little while.
Company Response:
State: MD
Zip: 21804
Submitted Via: Web
Date Sent: 2021-05-12
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A