Date Received: 2021-04-30
Issue: Fraud or scam
Subissue:
Consumer Complaint: To Whom It May Concern : My son, XXXX XXXX XXXX, invested {$150.00} in XXXX through a company called Coinbase. He had told me about this approximately two years ago. However, I never much thought about it. My son died XX/XX/XXXX, of XXXX and his fraternity brothers reminded of this investment. They found the app on his phone and since I had closed both his checking and savings accounts, they attached my checking account to the Coinbase account. When they tried to transfer the funds into my account, it didn't work. I contacted Coinbase by email and they responded on XX/XX/XXXX and told me the docs I'd need to upload and I uploaded everything successfully on XX/XX/XXXX. then I waited to hear from them and after four weeks I tried to contact them. Now, I thought it was strange that they didn't have a direct phone line, so on XX/XX/XXXX, I emailed them, only to discover that they had XXXX their direct email. I also emailed their customer support and got no response. I uploaded the docs again on XX/XX/XXXX, to https : XXXX. I told them I wanted my son 's money transferred by wire or they could issue a bank draft. No response. They have an address in XXXX XXXX, but I didn't write there as I thought it would be useless because they're not responding to me anymore. I contacted the XXXX. and XXXX XXXX XXXX suggested I contact your agency also. My son 's account appears to be open, eventhough it seems to fluctuate quite rapidly. I don't know what to think since I can get no response from Coinbase, but I'm very suspicious of this company. Sincerely, XXXX XXXX
Company Response:
State: CA
Zip: 95205
Submitted Via: Web
Date Sent: 2021-04-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-05-01
Issue: Money was not available when promised
Subissue:
Consumer Complaint: Deposit of {$1000.00} was sent at XXXX XXXX Monday XX/XX/XXXX, trading is allowed until payment clears, before the payment cleared 1 day later, I attempted to sell the bitcoin I had bought with my remaining balance, I wasn't able to sell my bitcoin, the platform showed I had bitcoin but treated it like if it was stuck on an open order, I did try to set a limit order but it didn't go though. After that my funds cleared today and I'm still unable to withdraw or trade my bitcoin Case:XXXX I sent screenshots of the issue
Company Response:
State: CA
Zip: 91762
Submitted Via: Web
Date Sent: 2021-05-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-05-01
Issue: Money was not available when promised
Subissue:
Consumer Complaint: I have been trying to log into my CoinBase account for months now. Evey time I try to log in I get 'account is temporarily disabled '. I keep filing support requests with them, and they just close the tickets with no resolution. I have more then $ XXXX dollars in there and I can not get it out. They have no phone support and I have no one to turn to.
Company Response:
State: CA
Zip: 91301
Submitted Via: Web
Date Sent: 2021-05-03
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-04-30
Issue: Other transaction problem
Subissue:
Consumer Complaint: Dear sir/madam : I would like to report coinbase for an unauthorized transfer if my miney to a non existing wallet ( XXXX ). I bought XXXX worth of LITECOIN ( LTC ), a type of cryptocurrency, onXX/XX/2021 @ XXXX XXXX according to the transaction records.ive been trying to withdraw the miney to use for emergency, but to my surprise there is no way to withdraw it because it is in a wallet that only coinbase knows the answer why it is there.please help me as this is a serious problem for investors.
Company Response:
State: NJ
Zip: 07740
Submitted Via: Web
Date Sent: 2021-04-30
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-04-30
Issue: Fraud or scam
Subissue:
Consumer Complaint: RE : Coinbase XXXX XXXX # XXXX, # XXXX et al To whom it may concern. I was the victim of a sophisticated scam/hack of my Coinbase account that occurred at approximately XXXX XXXX XXXX XXXX on XX/XX/2021. At stated time, I received a phone call from a person XXXX XXXX XXXX claiming to be a representative of Coinbase, and from a phone number matching that of the Coinbase phone number listed, XXXX. XXXX There are phone records to support this. ) This incoming call occurred simultaneous to my receipt of a text from Coinbase stating that the Password had been changed on my Coinbase account. When I subsequently attempted to login to my Coinbase account, it failed. During the ensuing minutes the representative was able to recite account details to me about my Coinbase account, including coin balances, recent transactions, etc., and he convinced me that time was of the essence in locking down my account. As such, two-factor authentication was requested and given to achieve that end. Upon hanging up, I was disturbed that I received another text notification from Coinbase stating that two-factor authentication had been changed. At that time and within 8-minutes of hanging up, I locked down my account through the normal process of calling in on from the listed phone number on my account and proceeding with the steps to lock it down. This was done twice, which is why there are two case numbers assigned to my account and this matter. Emails were received from Coinbase on XX/XX/2021 at XXXX and XXXX confirming the lockdown of my Coinbase account as well. I proceeded to follow steps provided by Coinbase in subsequent emails to reset my password and received text notice that I was successful at XXXX XXXX on XX/XX/2021 through the same text stream as before, as well as email. I also followed steps to re-verify my identy, but could not complete the upload. Subsequent email received at XXXX on XX/XX/2021 stated It looks like your ID uploads were successful and have already been submitted for review.. However, the ID uploads that I ever completed were nearly 4-years ago, when I initially opened my account. XXXX This concerned me that the hacker may trying to supplant my original documents with fake documents. ) The following day, XX/XX/2021, I woke up to an email notice from my Coinbase account associated bank that a transfer had been initiated by Coinbase for {$15000.00}. I informed my bank that this was part of an illegal transfer initiated during a hack of my Coinbase account, and successfully stopped the transfer from completing. All transactions with Coinbase were also blocked until further notice as an additional safety measure. Multiple emails were sent and received during the following days between XXXX support and me, although most if not all emails from Coinbase support seemed to be canned responses. On XX/XX/2021 one such email was related to the illegal transfer of funds from my bank initiated by the hacker during the scam/hack of my account. That email stated that your recent transfer failed and went on to say I had a number of days to fund the transfer or they would recover the funds from my account assets. As such, a formal complaint was filed with Coinbase ( complaint # XXXX XXXX on XX/XX/2021, against Coinbase Support, for lack of any reasonable update or resolution on the matter ( including regaining access to my account ), and to attempt to stop a recovery of funds from my locked account. Despite additional emails from me to Coinbase Support regarding the matter, and specifically regarding the illegal transfer, I received an Automatic recovery notice, on XX/XX/2021, which went on to state that an automatic recovery would begin on XX/XX/2021 if payment was not received. As a matter of fact, an email from Coinbase Funds recovery complete was received on XX/XX/2021, and it did in deed confirm that funds were successfully collected from the my Coinbase account in the amount of {$15000.00}. An account which was locked down due to a breach as of XXXX XXXX. Further, as of the date of this complaint, I have still not been given access to my Coinbase account, and despite repeated requests, I have not received any updates from support as to the status of my account, which assets were sold from to recover funds, what the balances are on my remaining assets in my account, etc. I did get a response from the complaint officer stating that nothing could be done until support resolves the case. However, the complaint was about the recovery of funds before resolution, and also the amount of time support is taking to provide any details with substance regarding the status of my account, and their inability to restore access in an acceptable amount of time. A second formal complaint ( Complaint # XXXX ) was also filed on XXXX XXXX 2021 specifically to address the sale of assets from my account during an unresolved case involving the attempted illegal transfer of funds from my bank, and the recovery of same from my account. As such, I am filing this formal complaint for the sake of regaining access to my Coinbase account, and for absolute transparency and timeline on the sale of his assets, remaining asset balance et al. I fully understand that Coinbase fine print is not responsible for loss of assets due to breach of individual accounts. But their lack of communication as to the status of my account, allowing access to my account, and an accounting of the recovery of funds from my locked account, is unacceptable. I can supply phone records, emails, texts, etc., as needed to support what I have written in this complaint. Coin balances as of said date can also be provided, and they amounted to approximately {$130000.00} as of XX/XX/2021. Coins included : XXXX, XXXX, XXXX XXXX XXXX ), XXXX XXXX Amounts of each can be provided if required. Sincerely,
Company Response:
State: CA
Zip: 92673
Submitted Via: Web
Date Sent: 2021-04-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-04-30
Issue: Unauthorized transactions or other transaction problem
Subissue:
Consumer Complaint: XX/XX/XXXX @ XXXX Employee XXXX XXXX XXXX XXXX ID XXXX ) at a XXXX XXXXXXXX XXXX changed my security question without authorization- fraudulently. This changed allowed for future fraudulent access to my account. XXXX phone number XXXX XXXX @ approximately XXXX SIM card was swapped and accessed was gained to other personal accounts and passwords. XX/XX/28 @ XXXX Coinbase account was fraudulently accessed and {$170000.00} worth of funds were stolen. XXXX XXXX refuses to release information about which store the security change occurred at. Coinbase has not responded to concerns about stolen funds.
Company Response:
State: FL
Zip: 346XX
Submitted Via: Web
Date Sent: 2021-04-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-04-30
Issue: Unexpected or other fees
Subissue:
Consumer Complaint: I am a Coinbase user and when they came out with the Coinbase Wallet app, users were encouraged to move their crypto into it. Im am relatively new to the crypto world, just a year in and while Im not a major investor like some, I use my crypto accounts for rainy day money. I also thought that since its a Coinbase product as well, Id be able to move my funds easily between the two and withdraw as needed. However like every other user, once the money is in the wallet, we can not get it out! I moved half of my assets at the time ( having learned since not to move anymore ) and of today I have {$200.00} in there with no way to withdraw it. They claim that miner fees are high and many times the miner fee is more than double the amount trying to convert or withdraw. I cant even transfer the funds back to the home product of Coinbase! Its the same company how is this allowed?? I have researched this to see if other users are experiencing the same issue and we all are. No one is getting answers from the company. Its like they had us transfer funds to their wallet and they get to keep it now. What kind of scam is this? Like many, Im struggling since the pandemic and every XXXX is allotted for bills and such. Watching this money go up and down with the markets with no way to access it is killing me. Please, something has to be done here. Not just for me, for all of the users! They took our money and wont give it back.
Company Response:
State: CT
Zip: 06902
Submitted Via: Web
Date Sent: 2021-04-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-04-29
Issue: Fraud or scam
Subissue:
Consumer Complaint: On XX/XX/26 around XXXX XXXX my coinbase account was hacked. The hacker attempted to sign in multiple times requesting multiple codes and the company allowed them to request up to 15 until finally they were able to XXXX my account by adding their own phone number and secondary authentication. I woke up at XXXX XXXX to the 15 text messages of the codes and immediately signed into coinbase changed my password, added a second factor code, and locked my account to any future sign ins. I tried to delete my bank account and the new phone numbers but was not allowed to because the verification codes were being sent to the new numbers. I immediately emailed the company about my issues. Although the company told me the account was locked, hackers were able to complete 3 withdraws from my XXXX account one for {$200.00}, one for {$500.00}, and XXXX for {$250.00}. They also sent all of my XXXX, {$950.00} to other accounts while my account was supposed to be locked. I have been emailing the company and only receive robot responses. I am not locked out of my account completely and have no way to sign in.
Company Response:
State: NY
Zip: 11229
Submitted Via: Web
Date Sent: 2021-04-29
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-04-28
Issue: Unauthorized transactions or other transaction problem
Subissue:
Consumer Complaint: Hi, I am writing to report an unauthorised block of my account from Coinbase Inc., headquartered in XXXX XXXX, California, United States. Coinbase has suddenly put my account 'under review ' and blocked my account from trading/funding/withdrawing without any prior notices since XX/XX/XXXX. I have sent a number of support tickets to Coinbase, however, I only received automated responses from them that asked me to wait. There is absolute zero transparency in terms of what they are reviewing. I have been a fully verified customer since XX/XX/XXXX. Moreover, they reviewed my account in XX/XX/XXXX and completed the activity. The fact that they are blocking users from trading and accessing their funds can somewhat be regarded as a market manipulation activity.
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-04-28
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-04-28
Issue: Unauthorized transactions or other transaction problem
Subissue:
Consumer Complaint: I have a coinbase wallet. I bought there over the XXXX XXXX XXXX the following small cryptocurrencies for approximately XXXX XXXX XXXX : 1 ) XXXX 2 ) XXXX XXXX ) XXXX XXXX XXXX ) XXXX 5 ) XXXX 6 ) XXXX XXXX 7 ) XXXX 8 ) XXXX 9 ) XXXXXXXX I want to swap this cryptocurrencies back to XXXX XXXX XXXX XXXX. So I made a swap from XXXX into XXXX of a small amount to test if everything works with the swap into XXXX. I made the swap over XXXX XXXX XXXX in my coinbase wallet. XXXX told me that they can see on XXXX that I actually received XXXX for the swap. But I can not see the XXXX on the coinbase wallet. So XXXX told me : This is an issue with Coinbase not allowing users to send XXXX tokens directly to an XXXX address ( pretty much all other wallets allow this ). To fix it, you'll need to contact Coinbase support, and have them transfer the XXXX to the actual designated XXXX address in your Coinbase wallet. You will also need to give XXXX this link to the transaction ( as proof ) : XXXX XXXX XXXX Since they are in your Coinbase wallet ( but just not viewable ), only Coinbase support can make them available to you. But the problem is that the Coinbase support never answers. I contacted them very often over their mail. So I will have the same problem when I swap some more of my XXXX XXXX XXXX in this Small cryptocurrencies into XXXX that I will not see the XXXX I actually receive in my wallet. For me it is so much money and I want to have access to it again in the wallet. I think Coinbase should get forced to solve my problem or otherwise let their insurance pay me my money back. Coinbase did not tell me about the problem before I bought the small cryptocurrencies. So they did not give me enough information about their internal problems.
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-04-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A