Date Received: 2021-02-04
Issue: Fraud or scam
Subissue:
Consumer Complaint: Coinbase Account # XXXX Coinbase is a cryptocurrency platform that allows the trading of different digital currency. I have been a user of the platform for several years. Never had to deal with their customer service until XXXX when I saw that the number for two step verification was not accurate. Tried to change it manually and got locked out of my account. When I tried to sort the issue out with customer service the only response I ever got was your account will be reviewed by a specialist and we will get back to you in 5 days or less. It has been almost 30. Just the same automated messages, or no response at all. Ive sent over 20 messages to them so far asking for basic competency and just nothing. One of thee worst experiences Ive had with a company and Im not alone after doing thorough research. I wait, no response. I create multiple help threads, nothing. I have thousands of dollars in that account. Ive done everything on my end including provided pictures of me my ID and proper verification to have my credentials reset. Just a complete lack of competency or care. To the point where I have gotten out of character because Im basically talking to myself. Its wild. I hope whoever reads this never experiences what I and so many others have experienced. Soulless. Im trying every route to find advocacy and justice. Its heartless and disrespectful. They need to be sued. Expeditiously. The CEO needs to be fired. Something cause XXXX.
Company Response:
State: MD
Zip: 20782
Submitted Via: Web
Date Sent: 2021-02-04
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-02-04
Issue: Managing, opening, or closing your mobile wallet account
Subissue:
Consumer Complaint: Good morning, I am writing this complaint today in regard to the cryptocurrency exchange, Coinbase. After hearing good things about coinbase, I decided to give it a try after analysing XXXX, I invested XXXX by card payment as well as give a 2 deposit to confirm my bank account, prior to this deposit I had already verified every details asked of me. As soon as I made an order to buy into algo with my money, coinbase decided to hold my account under review with absolutely no reason given to me for why this was done. I have sent three support tickets exclaiming my anger as this is not right, no other exchange or broker has withheld onto my money without giving me a reason. I've received responses asking me to wait from the support team yet they have done absolutely nothing about this. They are holding my money without my permission. I've lost out on making myself hundreds of pounds and at the moment I'm out of pocket 302. I need this sorted, this is completely wrong what they're doing. Coinbase Case # XXXX - Account under review
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-02-04
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-02-04
Issue: Fraud or scam
Subissue:
Consumer Complaint: At approximately XXXX XX/XX/XXXX, I logged into my Coinbase account from my laptop to download my XXXX tax records. I use my Coinbase phone app frequently to view my cryptocurrency balances, and to occasionally execute cryptocurrency transactions. I rarely use my laptop to access Coinbase, except for activities like downloading transactions for tax records. As expected, when I supplied my Coinbase userid/password to my laptop, Coinbase prompted me for XXXX XXXX authentication, asking me to provide the code from my phone 's XXXX XXXX app to the laptop browser. As soon as I authorized my laptop using XXXX XXXX authentication by verifying the 6-digit code on my phone to confirm that my laptop was authorized to access my account, I noticed my Coinbase balance shown on my laptop was {$9000.00} instead of {$610000.00} which was still shown on the Coinbase app on my phone. I thought that was odd, but assumed that perhaps I was seeing the price of some coin, or the amount of a transaction, rather than my balance. Since my phone still showed $ XXXX, I moved on to my task at hand, downloading my tax transactions from Coinbase on my laptop. I clicked on the tax documents area. While I worked to figure out where and how to download tax documents ( I hadn't done it in a year ), I began receiving emails from Coinbase that " My ETH was now available. '' I received seven of those emails from Coinbase, and four more which said that I had " just sent ETH. '' I read the emails and realized that these transactions had all happened within minutes ( between XXXX and XXXX ), and I had not initiated any of them. I was still trying to download tax documents during that period. I then frantically attempted to contact Coinbase, only to see that all they have is an electronic service that lets you report your account if it's compromised, and they will freeze it, which I did. Now I no longer have access to my account, since it's frozen and when I attempt to recover it, the Coinbase message says " We have received your account recovery request. After reviewing it, your account changes should be active within 48-72 hours. '' I have logged a case with Coinbase case XXXX in their online reporting facility. In reviewing the Coinbase confirmation emails in detail, the thieves converted all my USD $ and other coins into ETH, then made four transfers of ETH out of my account to a single wallet ; the recipient address is shown in these messages : XXXX " You have successfully sent XXXX ETH to XXXX '' XXXX " You have successfully sent XXXX ETH to XXXX '' XXXX " You have successfully sent XXXX ETH to XXXX '' XXXX " You have successfully sent XXXX ETH to XXXX '' I have worked in technology since XXXX and have been a software developer and database expert, among other roles. I protect my passwords and devices using best practices and tools. This is likely to affect many more people, now that they've mastered how to do this, and now that they've been rewarded with over $ 600k in stolen funds. I am looking for cooperation and responsiveness from Coinbase, since it's fairly obvious that the Coinbase platform has been compromised.
Company Response:
State: VA
Zip: 22030
Submitted Via: Web
Date Sent: 2021-02-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-02-05
Issue: Other transaction problem
Subissue:
Consumer Complaint: On XX/XX/2021, {$21.00} was withdrawn from my bank account by Coinbase. I did not authorize the withdraw. I then received an email from Coinbase stating that {$21.00} was withdrawn from my bank account and was placed on my Coinbase account. The money was never placed on my Coinbase account. I filed a complaint with Coinbase and on XX/XX/2021 i received another email from Coinbase with a case number ( Case # XXXX ). I was asked to take certain steps to protect my account ( which I did ) and thereafter Coinbase completely blocked my account. I can not access it at all. I waited XX/XX/2021 to reach out, giving them 14 days. I was informed that it was sent to a specialist and they would respond soon. They have not attempted any contact since that time.
Company Response:
State: TX
Zip: 77009
Submitted Via: Web
Date Sent: 2021-02-05
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-02-04
Issue: Money was not available when promised
Subissue:
Consumer Complaint: I have an account with coinbase. I had money ready to be withdrawn to my debit card. According to coinbase if you decide to get the Amount on your debit card it is sent there instantly. This was completed on XX/XX/XXXX. It is now XX/XX/XXXX and I still do not have it available in my account.
Company Response:
State: NY
Zip: 11105
Submitted Via: Web
Date Sent: 2021-02-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-02-04
Issue: Wrong amount charged or received
Subissue:
Consumer Complaint: I have been using the regulated Digital Currency Exchange Coinbase for 4 years. They support the deposit of various currencies and the purchase/trading of digital assets. I have had no issues until 6 days ago. They have 2 platforms which are interconnected, one is called " Coinbase '' ( their retail platform ) - the other is called " Coinbase pro '' - Assets and currencies can be seemlessly moved back and forth between these two platforms. Coinbase pro is their trading platform. On Friday ( XXXX ) it is a well known fact that their platform experienced a variety of technical issues. I experienced one when I withdrew {$17000.00} from " Coinbase pro '' to " Coinbase '' and an error message came up saying the transfer couldn't be completed. I have done this type of transfer hundreds of times in 4 years with no issue. I closed the window and discovered the USD was now missing from both my Coinbase Pro Trading account and from my Coinbase account. I look at the withdrawals page and it says " COMPLETED '' - but also says " cancel_reasong : posting transaction failed. The money seems to have pretty much vanished, and it's a somewhat significant sum. I contacted customer service ( and have emailed them every day ) and have only received generic, seemingly auto-generated responses saying they are aware of my case and will let me know when there's an update. I have since learned that 100s of others are experiencing issues, some dating back several weeks and months, and one guy had an issue that hadn't been solved in 2.5 years. I have grown very worried that this supposedly highly regulated firm isn't going to " get to '' my case anytime soon and I'll lose access to this very large sum of money. For 4 years there were literally no issues, but this issue is very disturbing and I would really like to get a resolution soon. My case number with them is XXXX I have a XXXX XXXX and a family to support and my business has been very badly effected by the pandemic, so this money is very important to me. Thank you in advance for your help.
Company Response:
State: CA
Zip: 90045
Submitted Via: Web
Date Sent: 2021-02-04
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-02-04
Issue: Unauthorized transactions or other transaction problem
Subissue:
Consumer Complaint: On XX/XX/2020, I noticed that my account on Coinbase was compromised. My account was compromised bypassing the two factor authentication systems - I'm not sure how at this time. None of my other credit cards, banking systems, or emails were accessed. No other individuals in my household have access to my account. After noticing this problem, I acted quickly. I accessed my account. I changed my password and I submitted a support ticket requesting than my account be disabled due to this problem. I noticed before closing my account that an attempted withdrawl of - {$25000.00} occured, attempting to take the funds out of my bank account. Additonally all of my assets in my wallet had been sold off, other assets had been purchased, and sold again. All of these transactions resulted in massive coinbase fees. I did not receive an automated support ticket/email verification/or anything of the sort but my account was disabled. The {$25000.00} request resulted in a NSF return fee of {$23.00} from Coinbase as I did not have the funds present in my bank account. After some time, I did not hear from Coinbase through any of their support outlets ( XXXX, XXXX, or their email system. ) They do not have a live customer service so there's no good way to get in touch with them. I attempted all the methods available to me. After a week, on XXXX, another attempt to withdraw {$25000.00} from my bank account occured. I believe this came from Coinbase directly as my account was suspended. I again attempted to contact them but have had no luck. I have since had to put a hold on my bank account and I have yet to have any luck in getting ahold of Coinbase directly.
Company Response:
State: OH
Zip: 440XX
Submitted Via: Web
Date Sent: 2021-02-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-02-04
Issue: Money was not available when promised
Subissue:
Consumer Complaint: Transferred cryptocurrency from a personal account to an official broker ( Coinbase.com ) on XX/XX/XXXX. The transaction succeeded while Coinbase was having outages that day, and something went wrong with automatically moving the funds to the Coinbase Pro service. After several attempts of manually moving the funds from Coinbase to Coinbase Pro ( two services managed by the same company ) the funds eventually disappeared from both services, even though all transaction logs show a succesful deposit. Coinbase Pro even acknowledges the transaction in their own logs which I've attached, yet the funds never show up in the actual service. https : XXXX Coinbase Support is refusing to respond after a week even though it's clearly described in my support ticket XXXX # XXXX XXXX that this situation involves a non-trivial amount of real money and points at being completely their fault alone.
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-02-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-02-04
Issue: Managing, opening, or closing your mobile wallet account
Subissue:
Consumer Complaint: I opened an account at Coinbase and Coinbase XXXX to trade bitcoin. I went through the identity verification process successfully. I then added my bank account to transfer funds to my Coinbase XXXX account. This worked. I initiated a transfer of {$600.00} to my Coinbase account. Very soon thereafter Coinbase put my account " under review ''. Now my {$600.00} is frozen at Coinbase. I am unable to send the {$600.00} back to my bank account or trade bitcoin. They have in effect stolen my money. I of course submitted a support request. They responded in an automated manner and again later saying they would expedite my account review. I submitted feedback that my problem remained unresolved. My funds remain frozen.
Company Response:
State: CA
Zip: 940XX
Submitted Via: Web
Date Sent: 2021-02-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-02-03
Issue: Other transaction problem
Subissue:
Consumer Complaint: I downloaded the Coinbase app in XXXX and bought some xrp crypto. There wasn't any problems. In XXXX, I sold the crypto except for the Ethereum and transferred the money back to our bank account. The trouble started in XXXX when I decided to buy more Ethereum and Litecoin, and bought a fraction of Bitcoin. I had over XXXX Litecoins and over XXXX Ethereum. One of the transactions was for {$7000.00}. I looked at my bank account and noticed a double charge of {$7000.00}. I tried using their automated customer service, to no avail -there is no way to contact them they have no customer service until it affects them, so I stopped payment on the second {$7000.00}. Late that evening, after I had already stopped payment, I received an email ( enclosed XXXX from Coinbase letting me know they were aware of the mistake, and would replace the {$7000.00}. I responded to the email, only to find out was a no-reply email. It was too late, so I ended up with an extra {$7000.00} in my account! I finally called Coinbase Support XXXX, which locked my account. That's when I got a call from a man named XXXX from Coinbase was assigned to my case XXXX XXXXXXXX. I guess Coinbase outsources to XXXX. I tried to explain what was going on. I called our bank to release the stop on {$7000.00}. I thought he was helping me he helped Coinbase to XXXX Litecoins and XXXX Ethereum - took account value from near {$30000.00} to approx. {$13000.00}. {$170000.00} taken for a {$7000.00} Coinbase error. ( Screenshots ) A few days later, he restored all of my crypto except for the XXXX Litecoins for the {$7000.00} that Coinbase had put " back '' in my account. ( Screenshot ) Then on XX/XX/XXXX, I received on email from coinbase telling me that I had initiated a buy of Etherium, and I owed them {$12000.00} ( I didn't initiate any buy and didn't owe any money ), and that they were going to do an automatic recovery on XX/XX/XXXX. I called XXXX at XXXX to find out what was going on- no answer - no call back. Coinbase had unlocked my account, but still had restrictions on the account where I couldn't transfer funds. I had tried to move funds back to my bank. My account was a sitting duck. I got an email on XX/XX/XXXX, telling me that the recovery was complete, so I opened my account to see that all of my Ethereum was gone -not {$12000.00}, but over {$20000.00}. After that I called the XXXX again and left a message and told him all of my Ethereum was taken out of my account and he was the only one who had access to my account. he called me back. He transferred what was left in my Coinbase account - {$6700.00} - back into my bank. He said he would check into the missing Ethereum, and call me back, and if course, he didn't. I can't even get into my account now, because I need a verification code, with no way to get one. Over {$20000.00} value at that time was taken and the Ethereum is worth more now. Thank you for looking into this. XXXX XXXX
Company Response:
State: OK
Zip: 749XX
Submitted Via: Web
Date Sent: 2021-02-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A