Date Received: 2021-02-02
Issue: Other transaction problem
Subissue:
Consumer Complaint: I have a Coinbase account that I was conducting transactions with. Coinbase made an unauthorized withdrawal from my checking account by accident and sent me an email indicating their mistake. My account was overdrawn because of this. Because of their mistake, for their own security protocols, they locked my account with thousands of dollars in it. I have sent dozens of emails over the past month since the time I was locked out, with nothing more than an automated response. I have been robbed by a company with no responsibility or care for the people that have made the owner a billionaire. It is illegal what they have done, I want my money back.
Company Response:
State: NV
Zip: 89129
Submitted Via: Web
Date Sent: 2021-02-02
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-02-02
Issue: Other service problem
Subissue:
Consumer Complaint: Coinbase does not offer 1099 forms to report mandatory cryptocurrency transactions to the IRS. I'm not an accountant, so calculating gains and losses is almost impossible for me. Coinbase is forcing their customers to pay money to a third party to have the gains and losses calculated. I shouldn't have to pay for a company to calculate my gains and losses.
Company Response:
State: VA
Zip: 223XX
Submitted Via: Web
Date Sent: 2021-02-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-02-02
Issue: Other transaction problem
Subissue:
Consumer Complaint: 1 ) Using their app I attempted to convert one currency ( Graph ) into another currency ( Ethereum ). 2 ) The app confirmed my transaction as Graph into Ethereum and I approved. 3 ) After the conversion, I get a notification that rather than converting my Graph into Ethereum, the system converted ALL of my Bitcoin into Ethereum. This was an unapproved, errant transaction. 4 ) I contacted customer support and for a week only received boiler plate responses that they are looking into the issue. Despite my attempts to reach them, they never actually sent a REAL response. 5 ) I filed a complaint with the BBB and then suddenly I received a response from Coinbase stating the following : Hi XXXX, Thanks for reaching out. Having investigated the issue, we are working with a specialist to address it properly. We will follow-up with you as soon as we have an update. Thank you for your patience. Kind regards, Coinbase Support ref : XXXX : ref 6 ) At this time, my Coinbase account was frozen and I was no longer able to access it. I was NEVER notified that the account was being disabled/frozen. 7 ) I have requested information from them five times since and have not had any sort of response whatsoever. Ergo -- my complaint is not only for the initial, errant conversion of my assets, but for the freezing of my account/assets without notification. Their lack of communication is infuriating and if I were to guess, illegal.
Company Response:
State: NV
Zip: 89081
Submitted Via: Web
Date Sent: 2021-02-02
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-02-02
Issue: Other service problem
Subissue:
Consumer Complaint: Coinbase locked our account several months ago after I initiated contact regarding a transaction. Coinbase refuses to unlock or restore the account. Multiple complaints with Coinbase have been initiated to no avail, including a formal complaint. The case numbers with Coinbase are XXXX, XXXX ( initiated in XX/XX/2020 XXXX, and XXXX ( formal complaint initiated in XX/XX/2020 ). Coinbase 's replies have been very delayed and largely consist of canned or form responses. Ultimately, in each case, Coinbase instructed that certain security steps should be taken and to let them know when we wanted the account restored. In fact, the formal complaint was unilaterally closed by Coinbase, against our will, with the " resolution '' being to take the same security steps that had been completed previously and to advise XXXX when ready to have the account restored. ( Side note : In an attached email regarding Formal Complaint XXXX, the Coinbase representative references an email of XX/XX/2020 and indicates the email included steps to have the account restored. No email was received on that date. Rather, an email was received on XX/XX/2020, the steps were completed, and Coinbase advised we were ready to have the account restored XXXX. Again, on several occasions the security steps were completed, all requests or instruction from Coinbase was followed, and Coinbase advised of readiness to have the account restored. Coinbase was further advised no transactions on the account were being disputed or being claimed as unauthorized. Despite full compliance with Coinbase 's instruction, the account remains locked. Of course, as the value of XXXX and other cryptocurrencies fluctuates, so does the account balance. This also makes immediate access to and control of the account that much more important as it could result in thousands of dollars in losses. The current account balance is approximately XXXX USD. Coinbase holds itself out as a secure and easy place for individuals to buy, sell, and manage a cryptocurrency portfolio. Giving Coinbase money might be easy. But by locking the account and refusing to restore access, Coinbase has wholly prevented the sale of cryptocurrency and withdrawal or use of account funds, let alone management a cryptocurrency portfolio. The result is no different than having money stolen.
Company Response:
State: MO
Zip: 656XX
Submitted Via: Web
Date Sent: 2021-02-02
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-02-02
Issue: Managing, opening, or closing your mobile wallet account
Subissue:
Consumer Complaint: On XX/XX/XXXX I opened a ticket with the Coinbase.com the online exchange for Cryptocurrency trading as I was unable to log in to my account using my computer while I had the App on my phone working due to the facial recognition to log in to the account active. However, the activity I needed to do required me to log into the account and check the details. Coinbase automated responses directed me to follow on screen instructions that kept me going in circles without success. I opened additional tickets after waiting for 24 hours when coinbase did not respond with the account password reset instructions nor ability to reach a human being who can help address the issue. This continued day after day each each time I send an email receive an automated email sending the exact same information that will not resolve the issue. Eventually on XX/XX/XXXX I received an email telling me that an account specialist is looking into my issue and it will be resolved in 3 to 5 working days. Since, then I have heard nothing more from Coinbase to all my follow up emails. As a result on XX/XX/XXXX when Bitcoin price reached its XXXX at {$41000.00} I could not sell any of my bitcoins. All my efforts to contact Coindesk have ended in sheer frustration as there is no way to reach any one at the company. No one responds to the emails and I find my self held hostage and unable to access my money that they have locked up in the wallet and I do not know if they will ever give me access to my account. I believe they are not acting in the best interest of their customers but, are only thinking about how to make more money by using locked money in my account. I have record of all my emails sent to Coinbase available to support above claims and I need your assistance to resolve this issue ASAP. Thanks
Company Response:
State: CA
Zip: 91505
Submitted Via: Web
Date Sent: 2021-02-02
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-02-01
Issue: Fraud or scam
Subissue:
Consumer Complaint: My name is XXXX XXXX. My Money was stolen from my checking account by Coinbase INC. PLEASE HELP!! Coinbase account : XXXX Phone number linked to my coinbase account. ( XXXX ) XXXX On XX/XX/2021 approximately XXXX I noticed a spike on my coinbase account from approximately {$350.00} to {$2800.00}. ( I wondered where funds came from ) At this time was holding some funds on bitcoin ( BCT ) some were around {$200.00}. And some funds on Wrapped Bitcoin ( WBTC ) approximately {$150.00}. Total invested little over {$350.00}. I started searching where funds came to my coinbase portfolio account from, And I discovered that funds came out of my personal checking account It was 4 different withdrawals 3 times from my debit card and one time directly from my checking account. Debit Card : {$420.00} + {$1400.00} + {$2200.00} Total of {$4100.00} and and then {$3000.00} form checking account TOTAL OF {$7100.00} Pus about {$350.00} funds from bitcoin, So total {$7400.00}. I don't understand how it can happen when I have to do 2 times verification to do any type of transactions, First I have to receive 6 digit code to my text on my cell phone and second time I have to use Authy 6 digit code which is changing every 30 seconds. All funds were taken out of my coinbase account to The unknown accounts. There are a lot more small details. At the end my bank account was overdraft for {$330.00} which at the end I had to come up for this amount to cover up overdraft. On XX/XX/2021 I tried to contact COINBASE with very confusing automatic questions, most of them not related to my case. So coinbase blocked my account after I made a report over the phone and my PC to through automatic answering questions. Then I could only see what was going on on my coinbase account but it was blocked to perform any type of transaction. Multi billion dollar Coinbase corporation does not have any kind of customer service like phone or life chat. They don't respond on my e mails or requests on my fraud status through automatic system on there help website, I wrote probably over 70 e mails, letters,, and so far i did not have any respond accept an original respond to my email that they will investigate my request, so far i have nothing from coinbase. I did some research on coinbase fraud and there are 1000 's of complaints about that coinbase ripping off customers and simply stealing customers money. Coinbase simply stole my money. At the end I am out of {$7400.00} The whole thing is nothing but a Nerve Wracking, I don't know where to start. Somebody PLEASE HELP ME!! ( XXXX ) XXXX XXXX XXXX XXXX XXXX XXXX
Company Response:
State: FL
Zip: 33904
Submitted Via: Web
Date Sent: 2021-02-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-01-31
Issue: Unauthorized transactions or other transaction problem
Subissue:
Consumer Complaint: On XX/XX/2021 morning, I initiated to sell XXXX XXXX. I received email notification on XX/XX/2021 XXXX EST that the sell process for XXXX XXXX has started at the rate of {$47000.00} / XXXX. Coinbase fee is supposed to be XXXX and I get XXXX. Per their website, selling to a XXXX destination is supposed to be instant. However it was not the case. Around that time when there was a bitcoin price surge, the Coinbase website was having issues. A lot of people are unable to do transactions and some are seeing their accounts go to XXXX. I was one of those whose balance is showing XXXX. When the outage was supposed to be fixed, I still have XXXX balance remaining however I see on the recent transaction history that on XX/XX/2021 XXXX XXXX EST, I completed a transfer of XXXX XXXX at a price of {$47000.00}. Per the transaction history, it was sent to XXXX with note indicating " XXXX '' and total transaction was supposed to be {$7100.00}. As it was supposed to be instant according to their document I checked my XXXX account but there was nothing. I checked my email and there was a cancellation email with time indicating it was delivered at XXXX XXXX EST. that said : " On XX/XX/2021, you attempted to sell XXXX XXXX for {$7000.00} on Coinbase. However, this transaction was canceled. There are a variety of reasons why a transaction might be canceled. Please feel free to try again. '' However I am unable to try again because my balance is showing XXXX. I sent email to support and got an automated response for ticket XXXX. I sent direct message to coinbasesupport at XXXX but got no response. I sent message to @ coinbasesupport at XXXX but it was not even read. I've checked whole day and account is still XXXX and no response from support. I followed up the next day and got another automated acknowledgement email for ticket XXXX and still no response and still have XXXX balance. Fast forward 2 days later today and I still did not get a response and I am out of my bitcoin balance and still no money in paypal.
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-01-31
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-01-30
Issue: Fraud or scam
Subissue:
Consumer Complaint: On XX/XX/2021, I opened an account with coinbase.com, and purchased XXXX to use for foreign exchange. I sold my bitcoins and attempted to withdraw my money in USD on XX/XX/2021 ; as a result, my withdrawal was refused, and my account was frozen. I called their customer service department ; however, no live person was available to assist me. I attempted to troubleshoot on their website ; however, I received no help there either. Meanwhile, my funds, which were purchased at {$20000.00} and increased to {$24000.00} had decreased to {$19000.00} as of XX/XX/2021. On XX/XX/2021, I also realized that approximately {$65000.00} was fraudulently withdrawn from my XXXX XXXX XXXX account ; the fraudulent activities began approximately XX/XX/2021. Money has been taken out of my savings account and dispersed to numerous financial institutions, in which I have no accounts with, nor did I authorize any of the withdrawals with coinbase.com or any other company. My account number at XXXX was changed ; I took my previous debit and ACH numbers off of coinbase.com in an attempt to discern whether or not the funds were being withdrawn via coinbase.com or a subsidiary. I attempted to add my new information to my coinbase.com account in an attempt to withdraw the remaining {$19000.00}, and my new account information was rejected ; my coinbase.com account has been frozen, and I have not been able to withdraw my funds. I have sent them an email, and as of this date, there has been no response. I understand the lack of manpower due to Covid - 19 ; however, this company 's business practices appear to be downright illegal. I am a laid-off XXXX due to Covid - 19, and I can not afford to lose any more money than I already have. XXXX has Loss Prevention working on the disappearance of the {$65000.00} ; however, I need your assistance in recovering the aforementioned money from coinbase.com, and if you're able to assist in the investigation with XXXX XXXX XXXX, that would be greatly appreciated as well. Why is this company still allowed to operate and fraudulently steal from, and mishandle their clients ' accounts. Please help!!!
Company Response:
State: CA
Zip: 94112
Submitted Via: Web
Date Sent: 2021-01-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-01-31
Issue: Fraud or scam
Subissue:
Consumer Complaint: Coinbase is locking selling options for people. Customer service is not responding to people. If customer service does respond, it is a spam email thats sent to everyone who has the same issue. It can take 30 days to get the spam email. People are being locked out of their accounts. We can not use our money.
Company Response:
State: GA
Zip: 30114
Submitted Via: Web
Date Sent: 2021-01-31
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-01-31
Issue: Fraud or scam
Subissue:
Consumer Complaint: This issue is with Coinbase.com. About 4 weeks ago I was prompted to enter my username and password and message said wrong username or password. I verified that I put in the correct credentials. I tried this from my phone, from my computer and different browsers and also cleared browsers cache. When I clicked on " Forgot Password '' I never receive an email to reset the password. Coinbase does not have a support number. I tried opening multiple tickets, also tried contacting them social media sites with no response. 2 weeks ago friend suggested I open a ticket and threaten to file a complaint with consumerfinance.gov. I finally got a response. It was a template response that did not address my issue but it was at least a response. I replied back for more assistance and coinbase said they will look into it. I emailed for an update 2 days ago. I have not heard back since. I also disabled my account just to be safe using their only number XXXX XXXX XXXX XXXX they had but its not for support. Its an automated system. There is over $ XXXX of my funds tied up in my account. All I am asking is give me my access which should be a simple fix. Someone at coinbase should at least respond and give me an update. 4 weeks without a resolution or update is not acceptable. I feel like I am getting scammed. I don't even know if my account is compromised. Please help! This is my Coinbase case number Case # XXXX
Company Response:
State: CA
Zip: 94121
Submitted Via: Web
Date Sent: 2021-01-31
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A