Date Received: 2021-04-15
Issue: Managing, opening, or closing your mobile wallet account
Subissue:
Consumer Complaint: Coinbase has suspended trading XXXX and in turn prevented access to me from selling off the digital asset and withdraw my money. Coinbase refuses to allow me to convert the digital asset back to USD.
Company Response:
State: NY
Zip: 11722
Submitted Via: Web
Date Sent: 2021-04-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-04-15
Issue: Money was not available when promised
Subissue:
Consumer Complaint: XX/XX/21, XX/XX/21, XX/XX/21, XX/XX/21, XX/XX/21, XX/XX/21, Complained about continuing inability to access my account. The following error message continues to show up and Coinbase support replies do not address the issue and tell me thanks for submitting my request and that they'll be in contact with me. Then they tell me they resolved and closed the case and ask me is the issue was resolved. When I tell them no it wasn't resolved nothing further happens. " Account under review Your account is currently being reviewed and we need some time to verify your info. During this review, you won't be able to use Coinbase. Reviews generally take a few days, so sign in every day or two to check your status '' Ongoing problem for 4 months, can't access my account to get my money back.
Company Response:
State: CO
Zip: 80111
Submitted Via: Web
Date Sent: 2021-04-15
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-04-14
Issue: Managing, opening, or closing your mobile wallet account
Subissue:
Consumer Complaint: Afte numerous attempts to contact coinbase in regards to selling crypto currency due to restricted account coinbase will not respond to any help ticket, I have a family emergency and am trying to sell my crypto and send the funds to my bank, I am not able to do this, no responce at all for weeks!
Company Response:
State: CA
Zip: 95610
Submitted Via: Web
Date Sent: 2021-04-14
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-04-14
Issue: Fraud or scam
Subissue:
Consumer Complaint: My brother, father and I invested {$5000.00} in XXXX through a company called Coinbase in 1st week of XXXX in XXXX. We know this as that is when the Coinbase emails confirming our new account were sent to us. We do not know exact date as we can not access our account. We invested as a family and decided we would hold it for a long time. Roughly 6 months ago, I noticed XXXX was going up in value and decided to check the account balance on my Coinbase application. When I checked our account, the account showed a zero balance with no transaction history. The account did not even show where we transferred the {$5000.00} into Coinbase either. So, I submitted a case # to Coinbase immediately regarding our issue. My case number is XXXX. I have sent over 50 different emails in the last 6 months trying to access my account but Coinbase Support does not answer the phone and they keep sending me the same information over and over again via email and I am getting absolutely no where. I have pleaded with Coinbase Support to help me figure out where our hard earned {$5000.00} is and they still have not responded even after 6 months of time and over 50 emails. Also, I went on XXXX and there are thousands of people just like me that are experiencing the same issue with Coinbase and all within the same time frame too. My family and I are distraught, and with the virus and issues with the economy, we need this money badly. Even if we only get our original investment we would be happy even though it has to be worth over {$20000.00} at this point. Please please help my family and I get our money back. Thank you so much for your help.
Company Response:
State: FL
Zip: 334XX
Submitted Via: Web
Date Sent: 2021-04-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-04-14
Issue: Money was not available when promised
Subissue:
Consumer Complaint: My complaint is for Coinbase, an online platform for buying and selling cryptocurrency. I've had an account with Coinbase since XXXX, where I purchased some cryptocurrency. Around XX/XX/XXXX, my small-business had its first client pay us in Bitcoin. In order to keep our business financials and our personal financials separate, I opened a new Coinbase account to receive the client payment and earmarked it as our " business '' cryptocurrency account. On XX/XX/XXXX, I tried to make a purchase of Bitcoin in this " business '' account on Coinbase with funds from our business checking account, but my account was disabled. Coinbase wouldn't tell me why, and eventually after about 15 emails, they said I was banned from using their platform permanently. They gave me no reason why, and they gave me no means to get access to the roughly {$10000.00} I had in this account. It seemed that they were confiscating my money with no reason and no recourse. Then, I got an email saying the decision was reversed and I could use the account again. But the function on my account didn't work for linking my bank account with my Coinbase account, which meant essentially I had NO access to get my money off the Coinbase platform. ( This is still the case at the time I am writing. ) After another 10 emails, it looked like it finally worked and my account Coinbase and business bank account were linked. But it wasn't a genuine fix. When I tried to move my money, the link to my bank account no longer worked again. By XX/XX/XXXX, I was emailing them again that my account wouldn't work. And now, if my memory serves me correctly on timing ... it was BOTH of my XXXX accounts. My personal account was also now XXXX ( with an estimated {$30000.00} USD of my money inside of it XXXX, and my " business '' account wouldn't link to a bank account where I could remove my money from the Coinbase platform. Essentially, Coinbase had no barred my access to both of my accounts with them and all my money stored on their platform. I've now had another TWENTY THREE emails with Coinbase, and they keep giving me instructions that do NOT work to link my bank account. It's like they are taking me around and around in circles, pretending to give me new instructions that will work but do not, and then returning to give me the same instructions from five emails ago that don't work. Around and around and around, but nothing they say works. And they won't even address the fact that my personal Coinbase account is disabled completely. I can not get into my personal account with them at all. So at this point, Coinbase has over {$40000.00} USD of my money ( based on estimate cryptocurrency prices today ), and has been denying me access to my money for over two months, with no reason and no recourse. As I look at the terms of their agreement more closely, they've basically said they can hold our money hostage for any reason whatsoever, essentially, and never give it back for any reason. I absolutely understand that the cryptocurrency I buy on their platform is at risk for changes in valuation, and I could lose all of my money/investment depending on what happens in the market of each cryptocurrency. But having a terms agreement where they can just take all my cryptocurrency or lock me out of my account which is essentially the same thing ... This can not be okay. Meanwhile, I'm reading about the company going Public and being valued at an expected $ 100B dollars, but as a customer, I am starting to feel like the company is conducting criminal activity in broad daylight. How can a financial service firm that holds my money, simply decide to not give it back to me by locking me out of my access to my account and/or by making it impossible for me to transfer or remove my money from their platform? Because they already once told me that they were disabling my account permanently for no reason and without recourse to get my money, I am totally scared of them. I make about {$75000.00} a year take-home, so you can imagine what an enormous deal it would be if they stole my entire {$40000.00} USD ( based on current crypto valuations that I hold ). I see many people online speaking of the same or similar experiences with Coinbase. Thank you for considering my compliant.
Company Response:
State: CO
Zip: 80303
Submitted Via: Web
Date Sent: 2021-04-14
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-04-13
Issue: Fraud or scam
Subissue:
Consumer Complaint: I deposited {$6700.00} into Coinbase between XX/XX/XXXX to XX/XX/XXXX. Then I went to log into my account 01-2021 and my account shows I have a {$0.00} balance. In my Coinbase account there is a transaction report, clearly showing I only deposited money. Nothing has been withdrawn, however coinbase just took the money. I have tried to contact them multiple times with no resolve. They did finally reply to one inquiry and they gave me instructions on how to run a report?!?! I am getting nowhere with them, they never respond, if they do respond it doesn't even address the main issue of the ticket. All I want is my investment back into my Coinbase account, there is clear proof that funds have never been withdrawn from my account. Only deposited into coinbase and now they have made those funds unavailable. I am very concerned this is a wide spread practice of theirs, affecting 1,000 's of their customers. I just can't believe a US based company can take people 's money like that and don't have to answer to anyone. Again, all I want is my money back. Thank you for your time with this matter. XXXX XXXX
Company Response:
State: FL
Zip: 328XX
Submitted Via: Web
Date Sent: 2021-04-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-04-14
Issue: Managing, opening, or closing your mobile wallet account
Subissue:
Consumer Complaint: I LOST THE ABILITY TO LOG INTO MY ACCOUNT WITH COINBASE EARY XXXX, TRIED TO RESET MY PASSWORD THEN DISABLED THE ACCOUNT ACCIDENTLEY AFTER CALLING THEIR CUSTOMER SERVICE PHONE NUMBER. I FILLED A HELP REQUEST MANY TIMES, I RECIEVED AN E MAIL RESPONSE STATING THAT THE ISSUE WILL BE HANDLED IN 4-5 DAYS. SINCE THEN NO RESPONSE
Company Response:
State: NJ
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-04-14
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-04-14
Issue: Money was not available when promised
Subissue:
Consumer Complaint: My Coinbase account requires 2 step verification to deposit and withdraw money which I no longer have access to. Coinbase had me go thru account recovery process, by re-uploading my driver 's license and taking a selfie on XX/XX/XXXX. The company also told me it would take 48 to 72 hours to disable my authenticator configuration. Now it's been almost a week and I still have no access to my funds. I opened multiple tickets and Coinbase keeps sending me automatic emails stating it will take 48 hours. There's no emails or communication whatsoever sent from a human being regarding this issue. I have {$33000.00} in my Coinbase account in limbo. Coinbase is simply holding my money for their own benefit with no legitimate reason. This shouldn't happen and it's a shame this horrible company is going XXXX. Coinbase has absolutely NO right to freeze my funds. I need access to my money asap.
Company Response:
State: OH
Zip: 452XX
Submitted Via: Web
Date Sent: 2021-04-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-04-13
Issue: Fraud or scam
Subissue:
Consumer Complaint: On the evening of XX/XX/2021, purchase of XXXX Coins to add to my existing Bitcoins portfolio including cash. When I checked my portfolio balance in the morning of XX/XX/XXXX my account / Portfolio balance was {$0.00} had a zero balance. No Coins. No money left in my account. No transaction history to show where the money went. I have proof of previous balance and purchase ( s ). Where did my assets go?
Company Response:
State: FL
Zip: 34243
Submitted Via: Web
Date Sent: 2021-04-13
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-04-13
Issue: Other transaction problem
Subissue:
Consumer Complaint: Today is XX/XX/21. For at least 3 weeks, I have been trying to sell my XXXX held with Coinbase. Coinbase has my account restricted and will not initiate the transaction. I had gone through their ID verification steps 3 times before it even let me back into my account, including one where I had to take a picture of me holding a sign saying " for coinbase ID verification ''. Now, they are holding my funds XXXX, and after numerous submissions to their customer service letting them know my account was still locked and I could not sell my XXXX, they have not responded a single time! Every day, I try to sell, I can't, then I send another message to Coinbase. Coinbase is ILLEGALLY withholding my funds. I have XXXX XXXX, which as of today is worth around {$12000.00}. I have screenshots for every day proving all of this ( todays ' is attached ).
Company Response:
State: NC
Zip: 287XX
Submitted Via: Web
Date Sent: 2021-04-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A