Date Received: 2020-11-25
Issue: Fraud or scam
Subissue:
Consumer Complaint: I am reporting the US based Brokerage house Coinbase for fraud. Coinbase is a illegitimate fake company doing business as a brokerage in the USA. They claim to be real, however, a depositor can not reach anyone at this fake company by email or phone, all their infrastructure is designed to prevent a depositor from accessing their money and assets for trading. Every time I try and move money, after I have followed their extensive identity proof requirements, 1. They hold up the money and the trades for 72 hours, and we suspect they are using our money at that time for their own trades. 2. Then they falsify transfers of assists and overcharge the depositors trading fees based on their fraudulent transfers. When we try and contact them, they send depositors to a nonfunctional question submission webpage. It is literally not possible to contact this fake brokerage to resolve the issues. Depositors have even tried to contact them on fakebook, but are never answered. I have evidence of this fraud. On XX/XX/XXXX I attempted a transfer of .2397 of BitCoin ( ruffly {$4000.00}. ), 72 hours later ( which should have taken 20 minutes, thus we lost our trade ) I received a transfer confirmation of transfer of 5.78 BitCoin ( {$100000.00}. worth ) including the fees paid to transfer that. Coinbase charged me fraudulent fees for transferring {$99000.00}, when I only transfered {$4000.00}. They're service provided false documents on the transaction which I have screen capture evidence. I verified that only .2397 of BitCoin was actually sent, and I recalled the transaction and received back my .2397 of coin. The receive transmission report was correct. Coinbase should not be allowed to operate in the USA, no bank or trading firm should be allowed to operate here if you can't reach the firm to work out disputes, and if they are falsifying documents and charges. We can provide documents from our account to the CFPB for verification to our claims, but will not post to this email form due to having our numbers on the documents.
Company Response:
State: FL
Zip: 34601
Submitted Via: Web
Date Sent: 2020-11-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-11-25
Issue: Fraud or scam
Subissue:
Consumer Complaint: On XX/XX/2019 coinbase attempted to steal $ XXXX+ from my bank account due to a bizarre app glitch. However only {$2300.00} were available, which was stolen. I have been trying to get my stolen value for over a year now. No response. This is a criminal organization. Please help me. I am contacting news outlets. Do not do business with coinbase. Com. This is an illegal front for illegal activity.
Company Response:
State: PA
Zip: 188XX
Submitted Via: Web
Date Sent: 2020-11-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-11-25
Issue: Unauthorized transactions or other transaction problem
Subissue:
Consumer Complaint: On XX/XX/XXXX I sent XXXX XRP worth around XXXX $ from my Coinbase Wallet to Coinbase exchange account. After around 10-20 mins waited for the funds to be transferred from my wallet to exchange account however I never received it and no longer have the amount on either account and when I go to XRP transaction scan it shows the transfer was successful. Thinking it might be an error on my part, I went and double checked that I correctly put it the receiving address for the exchange account I was sending to and to my surprise the address is correct. So somehow XXXX XRP worth roughly XXXX $ is gone. I submitted a help request to Coinbase but have little to no faith they will actually assist me. I know I havent give much time to resolve this but its a lot of money and I'm panicking because I dont want my money to be lost forever. Coinbase Account email is XXXX The xrp transfer can be see on XXXX this is the transaction number : XXXX
Company Response:
State: AZ
Zip: 850XX
Submitted Via: Web
Date Sent: 2020-11-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-11-24
Issue: Fraud or scam
Subissue:
Consumer Complaint: Please note : Chose the most applicable categories to submit this complaint as closest I could find from the choices. My Coinbase account was compromised. As I subsequently found out, this was apparently due to " SIM-Swap '' where the perpetrator managed to have my phone number somehow transferred from XXXX to the perpetrator - XXXX confirmed the " sim swap '' had occurred. That was then used to gain access to my email account which was used to reset password to Coinbase account. The attached document indicates notes/details of the incident and action and was submitted to the FBI - Internet Crime Complaint Center. I have not received any response or follow up based on that submission. As of now, I have also not been contacted at all by Coinbase and therefore have no access to my account and holdings. Also attached are screen caps of the notification I submitted to Coinbase again on XX/XX/2020 XXXX had submitted similar earlier at the time of noticing the incident but submitted again when looking for additional method of contacting since had not received any response by then nor any response based reporting incident to Coinbase using a number I was able to locate for them : XXXX ( supposed to be for reporting compromised accounts ) ).
Company Response:
State: NJ
Zip: 08817
Submitted Via: Web
Date Sent: 2020-12-08
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-11-24
Issue: Other transaction problem
Subissue:
Consumer Complaint: On approximately XX/XX/2020, I attempted to transfer funds on Coinbase from the " Vault '' feature to the " Wallet '' feature. This transfer required approval from my main account as well as a co-signer email account. The main account had already approved the transfer, as noted on the Coinbase site, but when the co-signer attempted to approve the transfer from their email as instructed, the Coinbase webpage they were sent to said they had already done this action, yet on Coinbase itself it stated that the co-signer had not approved. The co-signer attempted to approve the transfer through the email multiple times, but every attempt failed. After 24 hours, the transfer was terminated due to the co-signer being unable to approve the transfer. On XX/XX/2020, I emailed Coinbase 's support team and detailed the problem. I was sent a response email at that time confirming that my case had been received. It is now XX/XX/2020, and I have not received any other notices from Coinbase on this issue, and my funds have not been transferred.
Company Response:
State: FL
Zip: 32571
Submitted Via: Web
Date Sent: 2020-11-24
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-11-24
Issue: Fraud or scam
Subissue:
Consumer Complaint: Since I open account I have problems. When cryptocurrency is high and time to sell coinbase website is not available but now complicity locked out of my account. Can ; t log in and coinbase wont reply back to my emails. Who gave them right to lock me out of my account this is criminal organization and they need to be stooped.Since I'm locked out I start reviving phishing emails and I never got those pretending to be coinbase. my dispute is over {$120000.00} since tha 's how much they cheated me out/ Now I don't even know if If I have any founds in my account
Company Response:
State: UT
Zip: 84044
Submitted Via: Web
Date Sent: 2020-11-24
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-11-23
Issue: Other transaction problem
Subissue:
Consumer Complaint: I had a XXXX dollar XXXX investment hacked and stolen from my Coinbase account with no liable responsibility taken from Coinbase on XX/XX/XXXX that I was just made aware of on Thursday XX/XX/XXXX. That investment would be worth over {$4500.00} today. On XX/XX/XXXX, I received a phone call from a mimicked phone number of XXXX claiming it was XXXX needing to confirm information on my account due to failed attempts to log in to my account. I had tried logging into my account the day prior and forgot my password so I figured I had frozen my account and they were calling to confirm that their was no suspicious activity. They were sending me text message verifications that were coming up on my phone as texts sent from XXXX. All I did was confirm the text verifications from XXXX. I did not provide any password, social, DOB, etc to these individuals and proceeded to hang up shortly after the call. I had no reason to believe there was anything suspicious going on or anything that could compromise my account given I had not provided essential information that would lead to accessing the account. I was not made aware until XX/XX/XXXX when trying to log back into my account to sell the recently appreciated investment that I, 1. could not log in, and 2. someone with no association to my name made 3 transactions of moving my XXXX out of my account on XX/XX/XXXX. They had an alias name of XXXX XXXX XXXX and the IP address associated to the transactions was XXXX. I do not know how this would be possible given my name was under the title of the account, so there for I should be the only one allowed to make buy/sell/transfer transactions. I received no notification from Coinbase that any activity like this, especially such suspicious activity, was performed. I had no reason to wonder or check my account because I was invested for the long run and waiting for a large spike in value, which finally occurred last week around XX/XX/XXXX which caused me to check. Coinbase takes no responsibility for their lack of security, and will not replace or attempt to recover my stolen funds. I am a recent grad struggling to pay bills, especially during a pandemic, and could really use those funds right now.
Company Response:
State: IL
Zip: 60611
Submitted Via: Web
Date Sent: 2020-11-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-11-22
Issue: Managing, opening, or closing your mobile wallet account
Subissue:
Consumer Complaint: Coinbase.com unable to verify wallet after XXXX disabled my email and I changed my number after relocating. Balance is visible and funds unavailable still 2 years later
Company Response:
State: VA
Zip: 230XX
Submitted Via: Web
Date Sent: 2020-11-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-11-21
Issue: Other transaction problem
Subissue:
Consumer Complaint: On XX/XX/2020, I deposited {$1500.00} dollars into coinbase pro. After the deposit, I received an email from coinbase that stated : " Hi XXXX XXXX, Due to an insufficient funds error from your bank, we weren't able to authorize your transaction for {$0.00} USD / {$1500.00} on XX/XX/2020. We haven't processed this transaction or charged any cancellation fees. Please feel free to try this transaction again using a different payment method. '' However, I had {$1800.00} in my bank account and I was charged {$1500.00} XXXX by coinbase. Although I was charged {$1500.00}, I never received the money in my coinbase or coinbase pro account. I contacted Coinbase and they have not responded and the money ( {$1500.00} XXXX XXXX has been taken out of my primary bank account. When you click on the deposit it says : " is_instant_usd : true coinbase_payout_at : XXXX coinbase_deposit_id : XXXX XXXX XXXX XXXX
Company Response:
State: GA
Zip: 30606
Submitted Via: Web
Date Sent: 2020-11-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-11-20
Issue: Unauthorized transactions or other transaction problem
Subissue:
Consumer Complaint: Coinbase has my bitcoin stuck in a " vault '' unable to be accessed by me. They have not responded to my numerous attempts at support. XXXX Situation : ============= On Tuesday XXXX XXXX, 2020 I tried moving Bitcoin from my Coinbase " vault '' account to my Coinbase " wallet '' account. The vault is a more secure account requiring authorization from two separate email accounts. I initiated the transfer. Emails were sent to both my email accounts. I successfully clicked " Approve Withdrawal '' from both email accounts as necessary. However, Coinbase only shows my primary email account as being approved rather than both email accounts leaving my money is stuck in the " vault '' unable to be used at all. This has been a known " bug '' or issue with Coinbase for several years and yet it still occurs. This is utter negligence and known by Coinbase who are not taking proper responsibility. See : XXXX : XXXX https : XXXX https : XXXX https : XXXX * Actions Taken : ============= - I immediately filed a support request with Coinbase on Tuesday XX/XX/2020 at XXXX PM PST. XXXX # XXXX - Transferring from XXXX XXXX To XXXX. - I sent an email to the general coinbase support at XXXX on Tuesday XX/XX/XXXX at XXXX pm PST with subject " Transferring from Vault to Wallet stuck on Pending Approval ''. They no longer check this email or accept support request through this email. - I immediately went to the internet looking for other users with the same issue and directly messaged users " u/coinbasesupport '' and " u/justin_coinbase '' on XXXX. Direct messages where sent on Wednesday XX/XX/2020 at XXXX UTC " Can't Transfer from Vault to Wallet Case # XXXX '' - Found the following thread with a similar user on XXXX and posted. XXXX : //www.reddit.com/r/CoinBase/comments/jvxlag/trying_to_transfer_money_out_my_vault_to_my/ - I called both the general and XXXX specific Coinbase phone support lines on Tuesday XX/XX/2020 at XXXX pm PST. The phone support is only if you are locked out of your account and they have absolutely no human support. Utterly useless to a customer in need. - I filed another support request with Coinbase on Wednesday XX/XX/XXXX at XXXX XXXX. XXXX # XXXX - Transferring from XXXX to XXXX stuck on XXXX XXXX - All of these support requests and attempts have resulted in no response or acknowledgment. All while my money is inaccessible to me. XXXX XXXX XXXX : =============== If this occurred in a normal legitimate bank such as XXXX XXXX, XXXX, or a local credit union they would be all XXXX this. Government and oversight agencies would hold them accountable. The same needs to occur for Coinbase. Not responding to customer requests in a timely manner when it comes to financial products is unacceptable. Not being able to talk with a human is unacceptable. Having a company know about this issue for XXXX years and still not address the issue or root cause is negligence and is actively harming customers.
Company Response:
State: CA
Zip: 95404
Submitted Via: Web
Date Sent: 2020-11-20
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A