Date Received: 2021-04-07
Issue: Problem adding money
Subissue:
Consumer Complaint: Hello Im reaching out and need your help with Coinbase. They are literally stealing money from people. Let me share an example of what happens to me which most likely is impacting other. I attempted to transfer funds into my XXXX wallet at Coinbase on XX/XX/2021. However I erroneously transferred the funds into a XXXX cash wallet instead. I attempted for a full month to get a hold of someone at coin base to help me reverse the transaction. The only option was to submit a ticket online. After not hearing from anyone I reach out to the executive members via linked in. I finally received a response via email. The response was too bad theres nothing they can do and the funds are now loss. I was able to speak with the initial sender who share that they can see the funds sittting in block chain however since the funds are already sent theres nothing they can do. Coinbase does have the authority and capabilities to reverse the transaction. It was {$3500.00} dollars that they are claiming I should forget about and move on and making a decision to not help. Thats a significant amount 2x the amount of current stimulus. This error is a common error that happens frequently however coin base is profiting from this by stealing people money when it happens. Regulations need to be put in place to monitor these digital currency and companies like coin base. I refuse to lose {$3500.00} over something that can be resolved.
Company Response:
State: MA
Zip: 020XX
Submitted Via: Web
Date Sent: 2021-04-07
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-04-07
Issue: Managing an account
Subissue: Funds not handled or disbursed as instructed
Consumer Complaint: XX/XX/2021 I received an email from my account on coinbase telling me there was two withdrawals from one of my crypto coins that took money away from me and the email stated they have collected funds from a failed transfer but the email did not specify when or how much this transfer was for. Received another email at the same time from coinbase saying there was suspicious activity on my card and they have to increase the holding time of my funds being able to get back to me. Received another email from coinbase also at the same time stating they have to remove my card from coinbase due that type of card no longer being supported. I am now unable to buy or sell on coinbase, I can not add any new cards and I can not get to the money I have still in my account. The money has been there for weeks and it says I can only take out a small percentage due to the rest pending.
Company Response:
State: MI
Zip: 48080
Submitted Via: Web
Date Sent: 2021-04-09
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-04-06
Issue: Managing, opening, or closing your mobile wallet account
Subissue:
Consumer Complaint: Hello, I have a big problem for me, I hope to help you solve the problems I have an account on Coinbase and my account on the site has been frozen because the site believes that I am in XXXX and XXXX is subject to sanctions, and I am a resident of XXXX, XXXX, and I have uploaded all the official documents that prove that I reside in XXXX because I wrote support and my case was not answered within 12 days. Nor can I get my money from XXXX. The sum is XXXX I wish with all my heart your help, with my sincere thanks and appreciation
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-04-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-04-05
Issue: Fraud or scam
Subissue:
Consumer Complaint: I have {$8500.00} in coinbase. Coinbase won't let me withdraw the funds to my bank account. From reviews on XXXX. A lot of people are going through the same thing. Filing this complaint because coinbase won't answer any phone calls or emails. I have tried repeatedly to get my money from coinbase. This is a scam and fraud to not allow users to withdraw there funds any moment from an exchange. I would like to get my money back immediately and also hope government stops this fraud scheme. This is illegal. You can not hold someones funds to force someone to use there platform. I hope the government files an investigation. This is destroying our economy and preventing investors to buy into actual companies and create more jobs.
Company Response:
State: CA
Zip: 92651
Submitted Via: Web
Date Sent: 2021-04-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-04-05
Issue: Money was not available when promised
Subissue:
Consumer Complaint: My complaint is about the US trading platform XXXX XXXX and thus also about XXXX. For about a month I no longer have access to my funds on XXXX XXXX. I have already made several attempts to contact support. In the meantime over 25 times. So far I have not received a solution to the problem and my balance is frozen. My only goal is to withdraw my own money from XXXX XXXX again, but I am being denied for no reason at all. In total ( / BTC / ETH ) it is over XXXX.
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-04-05
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-04-05
Issue: Managing, opening, or closing your mobile wallet account
Subissue:
Consumer Complaint: Dear CFPB, My Name : XXXX XXXX XXXX I'm From : XXXX XXXX My email account Coinbase : XXXX My balance : XXXX ETH My account temporarily disabled since XX/XX/XXXX. I have been waiting for more than 2 year. I have been submitting support for the past 2 year but still have not received a response from Coinase. I trust coinbase wallet service and all my assets were deposited into the Coinbase wallet however it was locked even though I have shown many evidences that I have not violated your policies. Since I only used wallet storage eth. The year XXXX has been a year of the Covid pandemic and my account still be locked, it is making me stand on the brink of being unable to pay for the living expenses and care for my family. I hope the support team will help me out of it soon so that I can take care of my family. Please help me send my balance to the external wallet address. Thank you very much
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-04-08
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-04-04
Issue: Unauthorized transactions or other transaction problem
Subissue:
Consumer Complaint: Hello, thanks for receiving my complaint. I have an account with Coinbase. On XX/XX/XXXX, my Coinbase portfolio account contained, XXXX. On XX/XX/XXXX, I decided to use XXXX of the existing cash balance in my account to buy Bitcoins and I bought bitcoin but then about 1/2 later I sold the bitcoin for XXXX USD. I believe I transferred this money out of Coinbase to my bank account. Also on XX/XX/XXXX, I decided to withdraw the remaining {$4600.00} cash from Coinbase and I transferred the {$4600.00} to XXXX and then to my bank account with the XXXX Federal Credit Union. I received notices from Coinbase that bought, sold and transferred as described above. A few hours later, I received notices from Coinbase that I needed to pay them {$8200.00} or my account would be closed and anything in their would be sold. I think what happened is the Coinbase processing time lagged behind my purchase, sale and withdrawal and now my account is frozen with a portfolio balance of {$8200.00} with Coinbase saying that I need to pay them this amount in 5 days or their going to close my account because I violated the terms. I created a ticket requesting a statement of account and I received a reply telling that since my account was disabled, that Coinbase could not issue a statement. I also created a ticket asking Coinbase to please rectify my account. I also contacted my credit union because then Coinbase tried to withdraw {$4000.00} from my bank account. Coinbase also tried to collect the {$4600.00} that I deposited into Paypal and they may have collected this money because it has not yet deposited into my bank account. Can you please help me it's all the money that I have? Coinbase says I have 5 days but I did not do anything wrong. I am attaching a : XX/XX/XXXX, Portfolio Balance {$8200.00} XX/XX/XXXX notification from Coinbase that I sold bitcoin for {$4100.00} and a XX/XX/XXXX notification form Coinbase that I my withdrawal for {$4600.00} started. In another situation on XX/XX/XXXX, after I withdrew {$3900.00} after selling all of my bitcoin. I transferred {$1900.00} to my bank account and I transferred {$1900.00} to pay for my credit card. The next day, without any notice to me, Coinbase withdrew {$1900.00} from my bank account. I created a Coinbase ticked and the response that I received was, " Coinbase resolved and closed your case. '' I never received any more reply. But I also created ticket requesting a Statement of Account and I am unsure if the reply related to my request for a Statement of Account. I never received the {$1900.00} refund.
Company Response:
State: PA
Zip: 19147
Submitted Via: Web
Date Sent: 2021-04-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-04-03
Issue: Money was not available when promised
Subissue:
Consumer Complaint: On XX/XX/XXXX I inisiated a transfer of .05 Bitcoin from my Coinbase vault to my Coinbase wallet. Coinbase claimed they sent validation emails to my email but never did or at least I never received them. In any case the funds in my vault are frozen saying the transaction is pending sense XX/XX/XXXX. After contacting Coinbase within a week they responded 2 months later only to close my case. Claiming they have to create a new wallet. As I sent them my verification they decided to close my case and not let me access my Bitcoin! They have not been responsive sense I opened a new case in XX/XX/XXXX. Coinbase is not allowing me to access my Bitcoin. Please help. This is fraud!
Company Response:
State: VA
Zip: 223XX
Submitted Via: Web
Date Sent: 2021-04-03
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-04-03
Issue: Managing, opening, or closing your mobile wallet account
Subissue:
Consumer Complaint: On XXXX i tranfered XXXX euro 's to my Coinbase account. I got a notification saying i had to pay a XXXX cents with my new XXXX euro balance so i pressed proceed. Since then i can not do anything with my account. I keep getting the notification " Payment Pending, We are still waiting for funds from a recent payment. Your account will be restored as soon as we receive funds. '' I can't buy any crypto with the XXXX still in my account but i also can't wire the money back to my bankaccount since i keep getting the same 'payment pending ' notification. I send a email to Coinbase on the same day because payments normally go true in an hour or 2. I got a mail back on XXXX saying i had to wait 3-5 business days and if it hadn't by then i had to contact them again. I waited 5 business days and nothing happend so i again send an email to Coinbase on XXXX. I got an email back on the same day saying they where giving my case XXXX # XXXX XXXX to an expert. After waiting till XXXX i emailed them again asking for an update. I didn't get a respons so on XXXX i made a new case XXXX # XXXX XXXX asking if someone could help me cause everyone stopped reacting to my old case. I got no reply so i emailed them again on XXXX again asking for support. Again no reply. So i again made a new case XXXX # XXXX XXXX on XXXX and i got a reply on the same day saying they where again giving my case to a XXXX and it was going to take up to 5 business days. I didn't hear anything so i send another email on XXXXXXXX but i haven't heard anything and my account it still broken. As you can see it's been almost 6 weeks with loads of promises but no actions and i still to this day ( XXXX ) can not do anything with my funds ( XXXX ). I really hope you can help me with this case since i live in XXXX XXXX and XXXX has no office here so i really have no other choice. Please help.
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-04-03
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-04-03
Issue: Other transaction problem
Subissue:
Consumer Complaint: Coinbase unexpectedly sold XXXX dollars worth of my XXXX without notice or warning. The money is no where to be found and the support team has not resolved my case and it's been almost a 3 weeks. I did not authorized a sell transaction and there was no confirmation that this happened. Simply the funds are gone and I have no access to them. Please help
Company Response:
State: AR
Zip: 72704
Submitted Via: Web
Date Sent: 2021-04-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A