Date Received: 2021-01-28
Issue: Unauthorized transactions or other transaction problem
Subissue:
Consumer Complaint: The entity of Coinbase which stores both USD and cryptocurrency, has demonstrated at a minimum, negligence. My {$8000.00} of actual USD, NOT cryptocurrency, was stolen from their site XX/XX/2020. Coinbase makes it extremely difficult to contact anyone for help, even in a dire circumstance as this. There is a phone line to call, but no live agents are available. Coinbase has a process, which is supposedly in place for support, but as the chronology of events below demonstrates : Coinbase forced me to jump through hurdle after hurdle consuming vast amounts of time, just to abandon a paying customer in the end and not address this criminal incident. It has been over a month since Ive last heard any response. Based on their complete lack of responsiveness to my many requests, I am concerned that Coinbase themselves could be involved with the stealing of funds from their own customers. At the very least, Coinbase has proven themselves negligent in addressing this situation. Chronology of Events : XXXX XXXX I login into my Coinbase account. Shortly after logging in, I notice my balance reads near XXXX, from the approximately $ XXXXUSD it should read. I immediately take action and do these steps : 1- I look for a way to contact a live agent at Coinbase in response to this crisis, but the site gives no way possible. 2- I remove my bank account associated with my Coinbase account and I disable my Coinbase account. The phone line Coinbase provides, XXXX, is an automated system which only allows for the disabling of ones account. No live agent is available. 3- In my email inbox linked to the account, I notice : A ) Coinbase sent me an automated email at XXXX with the subject, " Your 2-step verification settings have been changed. '' B ) Coinbase sent me an automated email at XXXX with the subject, " Your BTC purchase is now available to trade ( {$8000.00} USD ) '' C ) Coinbase sent me an automated email at XXXX with the subject, " You just sent XXXX BTC to XXXX '' I definitely in no way shape or form did anything with any currency on Coinbase that day, be it USD or otherwise. I definitely never used my USD wallet for anything on that day, let alone purchase cryptocurrency with it, nor did I send any form of currency, again be it USD BTC or otherwise, anywhere. These actions were not me. Also note how these three automated emails show that all within one minute : my XXXX settings were changed, my USD funds were converted to BTC, and finally the funds, now in BTC form, were sent off. I am not even sure that a human being can complete all of these actions within one minute. 4- I email Coinbase support, I received an automated email with the subject, Visit the Coinbase Help Center to contact support I then email support on the channel Coinbase provides, on their Contact Us webpage. I submit the inquiry successfully, as the next webpage loads up and says success. XXXX 1-After not hearing anything from Coinbase, I attempt to submit a Complaint through the channel the site provides, but since I have no case number, I am unable to do so. 2-I submit another message to Coinbase, through the channel Coinbase provides, on their Contact Us webpage. Shortly afterwards I received an email, finally acknowledging my attempts at communication. I am now finally assigned a case number with a response indicating that my situation has been reviewed and that Coinbase is working with a specialist to address it properly. XXXX I receive an email from Coinbase which states that they have Passed all new information on to an account specialist who is reviewing your case they'll reach out to you here ( review generally takes 4-5 business days ) XXXX After growing increasingly alarmed by the amount of time has transpired and not hearing a response. I email Coinbase inquiring if I should report this incident to the authorities and financial regulatory agencies. XXXX The amount of time requested, 4-5 business days, has transpired with no response. I email Coinbase to try and get some help, and also ask again if I should report this incident to the authorities and financial regulatory agencies. XXXX No response ever came. I sent an email stating that I intend on reporting this incident to the authorities and to financial regulatory agencies unless a response is received. XXXX I reported the incident to the FBI. XXXX A brief report over a message was made to the XXXX XXXX Police Department. Will follow up until an actual full police report can be made.
Company Response:
State: VT
Zip: 050XX
Submitted Via: Web
Date Sent: 2021-01-28
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-01-27
Issue: Fraud or scam
Subissue:
Consumer Complaint: Coinbase.com has got my cryptos stuck and are not responding they just keep my account disabling without any reason. Worst service ever dont use coinbase
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-01-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-01-27
Issue: Unauthorized transactions or other transaction problem
Subissue:
Consumer Complaint: Coinbase charged my card twice without my authorization. Resulting in insufficient funds, therefore they took my XXXX and some XXXX claiming I initiated a buy without enough money in my account, I have tried to resolve this thru customer service portal, with no success, and then filed a complaint, they said they will let me know within 15 business days the results, it went a full 15 business days and they emailed saying they need another 20 business days to look into it, I have heard nothing since and they erased any of the transactions on my account. I Filed a complaint with XXXX, similar response from Coinbase. They dropped {$50.00} in my account for not getting back within 20 business days
Company Response:
State: PA
Zip: 17522
Submitted Via: Web
Date Sent: 2021-01-27
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-01-26
Issue: Fraud or scam
Subissue:
Consumer Complaint: Coinbase I had XXXX worth of virtual coins. As soon as the market started going up my account was locked. Once I managed to get into my account the money was gone showing empty funds. I have contacted coinbase several times with no luck. This has been going on for over 4 months, today my virtual currency would be worth up to XXXX. My case number is XXXX
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-01-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-01-26
Issue: Other transaction problem
Subissue:
Consumer Complaint: Coinbase emailed me claiming that a purchase I initiated on XX/XX/21 was not charged to my bank account. They then proceeded to charge me {$200.00}. I have proof that every purchase I made was charged to my bank account because the money was taken out of my bank by Coinbase. I paid the additional {$200.00} because they threatened to sell crypto to make up the debt I owed them. Below is the purchases I made with the total amount of XXXX ETC explained. * I converted {$170.00} from The Graph to XXXX on XX/XX/21 XXXXXXXX XXXX. ( Totaling XXXX ETC ) * I converted {$100.00} from CVC to ETC on XX/XX/21 XXXX XXXX. ( Totaling XXXX ETC ) * I bought {$200.00} of ETC XXXX on XX/XX/21 XXXX XXXX. * I bought {$700.00} of ETC XXXX on XX/XX/21 XXXX XXXX. Total= XXXX ETC Therefore I converted crypto I already had to ETC. XXXX ( Graph ) + XXXX ( CVC ) = XXXX ETC Then I made two purchases with my XXXX bank account of {$200.00} ( XXXX ) and {$700.00} ( XXXX ) = XXXX ETC Combining my total to XXXX ETC. Coinbase claims they did not receive payment for {$200.00} for a transaction that I was credited for ( false ). Clearly I only made two transactions during that time. One for {$200.00} and another for {$700.00}. I can prove both of those charges with my XXXX. Yet Coinbase is trying to charge me for a total of 3 transactions, claiming there are two charges for {$200.00} and I was not charged for one of them. This is false. I payed Coinbase out of fear they would sell my crypto after threatening to sell it over an email from their Coinbase support. I would like my {$200.00} to be refunded to me because I essentially was blackmailed to give {$200.00} or else the company would sell my crypto to cover there fraudulent charge.
Company Response:
State: CA
Zip: 92260
Submitted Via: Web
Date Sent: 2021-02-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-01-26
Issue: Other transaction problem
Subissue:
Consumer Complaint: On XX/XX/XXXX, I purchased {$1900.00} worth of Bitcoin. I sold my position on XXXX XXXX, XXXX, and should have seen a transfer to my bank account in the amount of {$2900.00} in 3-5 business days. I still have not seen my money. On Coinbase.com, I have opened case Case # XXXX with them on XX/XX/XXXX, and Case # XXXX on XXXX XXXX, and have not heard back.
Company Response:
State: HI
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-01-26
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-01-25
Issue: Money was not available when promised
Subissue:
Consumer Complaint: On XX/XX/XXXX, I sold my bitcoin. Actually I sold XXXX of my bitcoin. I purchased it in XXXX through an agency called Coinbase. The selling price was {$9700.00} on XX/XX/XXXX. Today is XX/XX/XXXX, which makes it the 16th business day, and after numerous E-Mails of inquiry, I still have not seen this money deposited to my bank account and no response from Coinbase. The Reference Code for this transaction is XXXX, and the amount after their fees is {$9600.00}. I took a screenshot of the transaction which shows " complete ''. I can attach this document if necessary. The problem with Coinbase is that you can't talk to a person. All correspondence must be by E-Mail
Company Response:
State: WA
Zip: 98597
Submitted Via: Web
Date Sent: 2021-01-25
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-01-25
Issue: Other transaction problem
Subissue:
Consumer Complaint: I saw two unauthorized transactions on my account and let the company know. They froze my account and have not answered me since. So they have all of my money and I dont have access to it.
Company Response:
State: MD
Zip: 20783
Submitted Via: Web
Date Sent: 2021-01-25
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-01-24
Issue: Other service problem
Subissue:
Consumer Complaint: I referred someone to Coinbase using my referral link and he signed up for Coinbase. Coinbase 's referral program states that if you refer someone using that link and they buy/sell $ XXXX, the referrer will receive {$10.00} in Bitcoin . The person I referred completed the necessary verification steps ( verified his account with identification, bought over {$100.00} in cryptocurrency ) to get a {$5.00} sign up bonus and never received his credit, nor did I. I reached out to Coinbase on XX/XX/2021 to inquire why I never received my credit and did not receive a response regarding this specific issue until XX/XX/2021 in which they told me, " Our referral program is fully automated. Note that we are unable to manually review or credit any referrals that are not automatically paid out. We are unable to provide specific information as to why any referrals may have been deemed ineligible '' and then listed the common reasons a referral bonus would not be paid ( " account was created but not completed or verified '', or that " the account has not fully completed a purchase up to {$100.00} worth of digital currency '' ) neither of which apply to my situation. Coinbase also elaborated in a second email that a referral might be deemed ineligible due to shared finances - when I asked them to clarify what this meant, I never received a reply. Moreover, on XX/XX/2021, I also asked for a link to their Terms & Conditions that explains referral terms and received no response. It is unacceptable to tell a customer that an issue like this can not be manually reviewed. How does Coinbase know their referral system is working and more importantly, how does the customer know that Coinbase is exhibiting integrity in their referral program rather than defrauding customers?
Company Response:
State: NY
Zip: 10013
Submitted Via: Web
Date Sent: 2021-01-24
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-01-24
Issue: Fraud or scam
Subissue:
Consumer Complaint: I have been using Coinbase since 2017 and all of a sudden it required me to do the ID verification again. Followed the instructions and upload my diver license two weeks ago, but the account is still locked with a message : " 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. '' I filed a support case with ID # XXXX, but Coinbase closed this case without resolving my issue. I have money left in this account, but I can't do anything about it, since it's pending review. I wrote down my experience on XXXX, and there are many other customers are suffering from the same scams.
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-01-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A