Date Received: 2021-02-08
Issue: Money was not available when promised
Subissue:
Consumer Complaint: Coinbase is an online cryptocurrency platform. My account was fully verified with no problems for several months. Suddenly, and without warning, my buy/sell privledges were revoked. When I inquired to Coinbase, they told me - quote : " Coinbase reviewed your account and has determined that you are not eligible to use the Coinbase platform to purchase cryptocurrency or use our deposit services. As such, you are no longer eligible to link any payment methods. We are not able to provide you with any additional information. '' They further stated : " As a security measure, we are unable to elaborate on our internal decision process. This decision remains final and we will not be able to remove this restriction from your account. " If they don't want to do business with me that's fine, but they are holding hostage {$1100.00} that was charged to my bank. They have a {$0.00} " available for withdrawal '' balance. When I inquire they say : " We have not blocked access to the balance currently in your Coinbase account. While we can no longer process brokerage orders via our banking relationship, you may still send your balance to an external address and withdraw any remaining fiat from your fiat wallet to an active linked bank account once your funds are available to withdraw. '' and " You will be able to transfer, sell, or withdraw any balance currently in your Coinbase account. Please note, you may need to wait until funds are available for withdrawal and we will not be able to expedite this process. '' I CAN NOT withdraw my money. It is my money and I want it.
Company Response:
State: LA
Zip: 70769
Submitted Via: Web
Date Sent: 2021-02-08
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-02-08
Issue: Other transaction problem
Subissue:
Consumer Complaint: I submitted case # XXXX to CoinBase during the week of XX/XX/XXXX due to my funds being locked into a digital vault that I can not access due to a secondary authentication email that I did not provide to XXXX and can not change. I have received no response from the company. The image with the XXXX address is not my email and Coinbase has failed to help me resolve this issue.
Company Response:
State: NY
Zip: 117XX
Submitted Via: Web
Date Sent: 2021-02-08
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-02-08
Issue: Other transaction problem
Subissue:
Consumer Complaint: I had my account locked because something weird happened when I was moving my crypto from my vault to my wallet and I didn't want to take any chances. So I called the toll free number Coinbase has for potential fraud, it recognized my number and automatically locked my account down. Which is fine. Then I contacted the company to inquire about the anomaly that spooked me and after two weeks, and repeated emails, they never responded. Then I tried to get my account unlocked online. However in the intervening time between contacting Coinbase the first time and my attempt to get my account unlocked, I got a new phone ( kept the same phone number. ) There is a multi-step process to get the account unlocked ( which is good ), but one of the steps requires getting some numbers generated on my phone through the XXXX XXXX app that is linked to Coinbase. Well I downloaded the app onto my new phone but it couldn't link it with Coinbase and was unable to receive the code. So I am unable to unlock my account. The Coinbase web site says there is a way to get things unlocked by bypassing the need to generate a code, but when you click on the link to bypass, it takes you to a page where it asks to generate a code through the Authenticator app! So I'm stuck in a closed loop and can't get my account unlocked. I have contacted Coinbase support ( they no longer take calls, you can only go through their contact page ) to ask for help in getting the account unlocked. I have sent three emails. Each time I have gotten an auto-generated response providing information that doesn't help and a notice that they are very busy and it might take a couple of days to hear back from them. Well it's been several days past that and nothing. In addition, when I did a search online, I found hundreds of other complaints posted by people who are also experiencing problems with Coinbase and are getting no response from tech support. I'm a XXXX citizen with no income and the money that I have invested with Coinbase represents a huge part of my savings. Not being able to get my account unlocked is causing me a great deal of stress and worry. Please help. Thanks!
Company Response:
State: OH
Zip: 441XX
Submitted Via: Web
Date Sent: 2021-02-08
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-02-08
Issue: Managing, opening, or closing your mobile wallet account
Subissue:
Consumer Complaint: My Coinbase account as been on temporarily disabled for over 6 months. I tried contacting coinbase through there support. After numerous tickets and complaints number from Coinbase itself and up till now I still cant get access to my account to withdraw my funds. Here are the ticket and complaints number. XXXX XXXX XXXX.
Company Response:
State: FL
Zip: 32082
Submitted Via: Web
Date Sent: 2021-02-08
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-02-08
Issue: Unauthorized transactions or other transaction problem
Subissue:
Consumer Complaint: On the afternoon of XX/XX/20 I opened a crypto app called coinbase to check my account. At that time there was a little over {$2700.00} in the account. I was working nights that week so I decided to take a nap. I woke up around XXXX XXXX and checked my account again only to see that there was only {$1.00} left in my account. I noticed that there was two tranfers out of my account to another crypto wallet. Upon seeing that funds were missing I contacted Customer support, all they have is email correspondence no numbers for live help. Once i sent an email I got an auto response telling me that an account specialist would look into my case and contact me within 4-5 days and that my account would be locked to protect it. That was almost five months ago and after repeated emails I am still in the same place I was in back in XXXX with recurring deposits to the app and no access because it is still locked. After a little research I found various forums on social media where people were pleading to customer support on the companys XXXX and XXXX page. At one point I thought that my account had been hacked and maybe coinbase could get to the bottom of it. But then I realized that the company employs two factor authentication and my phone would have had to have been on for someone to input the one time code and access my email to confirm this unauthorized transfer. I am starting to see a pattern of customers money disappearing, losing access and that access never being restored. I have also tried to contact their CEO XXXX XXXX via social media since hes always posting on XXXX and has a huge presence on his companys page. I sent him a direct message thinking that he would at the very least want to know what was going on in his customer support department but instead he blocked me from sending messages to him. I dont exactly know what is going on with this company but they should be held responsible for their lack of communication and transparency, not to mention they are gaining new customers daily that could go through the same thing. Upon request I can provide emails showing no answer from customer support. I can not provide a snapshot of the transfers because they company will not unlock my account.
Company Response:
State: DE
Zip: 19709
Submitted Via: Web
Date Sent: 2021-02-08
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-02-08
Issue: Unauthorized transactions or other transaction problem
Subissue:
Consumer Complaint: Hi, my coinbase account is again restricted with no reason like before, message from coinbase : your account is checking status, can take few minute back later but since 1 week nothing change, coinbase is become a not serious exchange take costumers in hostage. Can you help please to fixe again my issue please
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-02-08
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-02-07
Issue: Money was not available when promised
Subissue:
Consumer Complaint: I have had a Coinbase account for years, I have a level 2 verified account which includes ID verification verified with my face photo, verification of my bank account etc. support cases and complains on platform : [ Case # XXXX - Complaint # XXXX ( and case # XXXX, and case # XXXX ) ] Given the good performance of the platform I increased my purchases during XXXX and on XX/XX/XXXX they blocked my account claiming that it was being reviewed, after three support tickets and 15 days they unlocked my account saying that everything was resolved ( I attach email of this confirmation ). On XX/XX/XXXX of this year XXXX XXXX ) they blocked it again without notice, without giving justifications, and my support tickets are ignored ( no response after almost a month of communication attempts ), I opened a formal complaint on the platform after no response from support and also got no answer so far. I will not recover the lost investment possibilities but at least I would like to be able to access my funds again as soon as possible since no reason has been given as to why I am banned from accessing them.
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-02-07
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-02-07
Issue: Money was not available when promised
Subissue:
Consumer Complaint: On the XXXX XX/XX/2021 I transferred XXXX from my XXXX bank account to my Coinbase account to buy Bitcoin with. I was able to buy bitcoin to the sum of XXXX and it was stored in my Coinbase Account. I then tried to send the Bitcoin to my Coinbase Wallet app on my phone and it asked me to re-upload copies of my ID, which I did, twice. Coinbase said I will be unable to do anything with my account until this process has completed. Coinbase said the process will take " a few minutes '' however I am still waiting for reverification of my ID. So essentially I am still locked out of my account over two weeks later. I have emailed coinbase multiple times regarding this and so far no one can tell me why this happened or how long I will have to wait to get access to my account reinstated. They replied back with a generic reply stating it would take 5-7 days and I needed to re-upload my ID, again. Which I did. I have now re-uploaded my drivers license and passport 4 times each. I have submitted my ID numerous times. I have 2 factor identification enabled on my phone, the same phone I have used since opening my account. I have only ever used the same XXXX bank account to directly transfer funds into my account. I even have a personal email domain, which again I have always used with coinbase.
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-02-07
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-02-07
Issue: Other service problem
Subissue:
Consumer Complaint: Hi there, I have a account in the platform for cripto currency called Coinbase Inc. I have lost my password and I can not get it to my account. I submitted a ticket tru their customer service ( ticket number - XXXX one of many ) on the XXXX of XXXX. But no response from them till XXXX th of XXXX when they reply to me. They asked me to make a new coinbase account with my new phone number so they can connect my old account with my new and they will delete the old account. Since then I do not have reply from them. I'm trying to reach the tru email, XXXX, XXXX and no reply what so ever. If that can help I know the address of the headquarters : Coinbase , Inc . XXXX XXXX XXXXXXXX XXXX XXXXXXXX XXXX XXXX, CA XXXX I lost my job during the coronavirus and I need to pay my bills. So really hope someone will hear me soon. I feel that no one is there to help me out. Please help me. Many thanks XXXX XXXX
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-02-07
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-02-07
Issue: Managing, opening, or closing your mobile wallet account
Subissue:
Consumer Complaint: I have a digital wallet ( Coinbase Wallet ) with a company called Coinbase where I store my crypto currency worth about - last time I was able to check - {$10000.00} or more +/-. My phone crashed XXXX, & I had to restore it from a backup that I had on my XXXX from XXXX with, what I thought, my " Key '' stored in that backup. But according to Coinbase, the backup needed to be done to XXXX. Why? I don't use XXXX. I use my XXXX for my backups. Anyway, after the restore I got thus said message ... Failed to retrieve keys, please sign in again ( Error code : XXXX ) I was/am essentially locked out of my account/wallet. I contacted Coinbase on XXXX notifying them of this. Also, after the restore, I was able for a split moment/s to access the wallet before it denied me access again. It stands to reason that I am logged in in some form, correct? If so, shouldnt I be able to move my funds out of the wallet within that/those split moment/s? Tried. But was unsuccessful at doing so. Funds won't move. During this split moment/s that I managed to get into the wallet, & tried to get to this key, but the wallet would not grant me access to my recovery phrase/key?!? And now, Coinbase is essentially telling me that if I do not have access to this key I will never be able to access my funds ever again. This is a tad crazy. Besides this key I also have a password that I created. A second layer of security. But according to Coinbase, can't access it with that either. Have to have the key first. It is my understanding that they do not offer any assistance in recovery of " key '' /password. Coinbase 's answer to my inquiry - Please note, Coinbase Wallet is a user-controlled, non-custodial product the recovery phrase is what gives you, and only you, access to move funds that you have received. For your security, Coinbase Wallet will never have access to this seed, meaning that we are unable to move funds on your behalf even in the case of you losing access to your recovery phrase. My question is this ... why would any company create a platform such as this? A platform that makes it virtually impossible to retrieve my funds if something should go wrong? Coinbase, or any other company, should not be allowed to subject their users this " treatment. '' Human beings lose passwords/keys all the time. However, I did not lose mine. Or so I think. Shouldn't it be in the backup on my XXXX? If it can backup to XXXX XXXX, why can't it backup to my XXXX?
Company Response:
State: NY
Zip: 11372
Submitted Via: Web
Date Sent: 2021-02-07
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A