Date Received: 2020-10-03
Issue: Other transaction problem
Subissue:
Consumer Complaint: On XX/XX/XXXX, I initiated a purchase of XXXX BTC ( value of {$5000.00} at that time ). Coinbase 's app showed that everything was fine and the transaction went through. On XX/XX/XXXX, I tried to sign into my account, and my ability to do anything was locked, and all of my holdings were gone ( not just the XXXX ). There was never an email notification of a problem, no app notification and nothing on the website, it just said to contact support. I reached out to support on XX/XX/XXXX, and they then told me that the bank transaction failed. I was never given the opportunity to rectify the situation before they reversed the transaction AND took the rest of the funds in my account. Coinbase is claiming their TOS allows them to use the USD amount to recoup the funds, not the BTC amount. So, while I had a transaction for XXXX BTC on XX/XX/XXXX worth {$5000.00}, when they decided to reverse it, the USD value dropped. So they reversed the XXXX transaction ( making them whole, getting their entire amount of BTC back ) but also took the following holdings : XX/XX/XXXX purchase of XXXX BTC was taken by coinbase XX/XX/XXXX purchase of XXXX ETH was taken by coinbase XX/XX/XXXX purchase of XXXX BTC was taken by coinbase So, I was never warned that there was an issue, they never informed me the transaction failed, they just locked my account and took all my holdings. I have been begging them for help for 8 months now, but they refuse to do anything other than send a link to their TOS. Using the current value of ETH and BTC, the USD amount that they recouped over those 4 transactions is {$5900.00}. Their website says I still owe {$290.00}. In other words, they reversed the XXXX BTC transaction associated with the {$5000.00} failed transfer. they reversed the three other unassociated transactions as well, so with all that, they MADE {$670.00}, and are asking me to pay another {$290.00}. Coinbase never warned me of an account issue. Coinbase failed to give me any other options. Coinbase will be MAKING {$960.00} on one failed transaction ( not including their transaction fees! ). They refuse to help me. I have begged them. They never gave me a chance to rectify the situation.
Company Response:
State: AZ
Zip: 85258
Submitted Via: Web
Date Sent: 2020-10-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-10-01
Issue: Fraud or scam
Subissue:
Consumer Complaint: The complaint is against a company called Coinbase. They are a Cryptocurrency exchange. I have been investing for months and my account is about {$18000.00}. I can no longer get onto my account because I have been locked out by this exchange. They purposely do not have Customer Service to speak to and everything that you do to try and recover the account goes in a complete circle. It is again purposely set up this way. I want my money back from this fraudulent scam company!!!! and I would also like to see this company be put out of business!!! They are a disgrace and if you look online you will will see thousands of people complaining just like me.
Company Response:
State: NY
Zip: 117XX
Submitted Via: Web
Date Sent: 2020-10-01
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-09-30
Issue: Other transaction problem
Subissue:
Consumer Complaint: RE : Case # XXXX with Coinbase On XX/XX/2020, I received a text that my password was changed and if I didn't change it, which I didn't, to respond and lock the account. I did and the account was locked and Case Number XXXX was generated. Today, XX/XX/2020, I was informed my account was unlocked and when I went back in, missing from my portfolio was XXXX Bitcoin Cash and XXXX Bitcoin, totaling several thousands of dollars. I've contacted Coinbase Support and emailed CEO, XXXX XXXX, but have not received any replies. The History on my account shows these funds were transferred out of my account without my permission within 5 minutes of my password hack, so there is a digital fingerprint. Typically when I've legitimately changed my password, there are verifications codes in advance sent to my XXXX that legitimizes my request, which also recognizes a new device if one is used. These weren't received. There is also a two factor authorization needed from XXXX XXXX unique to my XXXX to sign in to my Coinbase account that was bypassed. I want to know where my funds are. My last legitimate transaction was on XX/XX/2020. Thank you
Company Response:
State: CT
Zip: XXXXX
Submitted Via: Web
Date Sent: 2020-09-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-09-30
Issue: Fraud or scam
Subissue:
Consumer Complaint: hello, Coinbase company locked my account with XXXX $ value money ( not cryptocurrency ) a week ago and I cant acces that money. However, I van log in into account but cant do anything. I want to transfer the money to my bank account. I tried all steps to recover account but didnt work. I know about similar cases and people stayed without money. I would need you help since I read about you helped someone before.. Thank you sincerely XXXX XXXX
Company Response:
State: CO
Zip: 80020
Submitted Via: Web
Date Sent: 2020-09-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-09-30
Issue: Confusing or missing disclosures
Subissue:
Consumer Complaint: Coinbase has locked me out of my account. Doesn't allow me to add a XXXX XXXX account for transferring my {$2400.00} dollars out of their account. Also does not allow me to buy crypto that might enable me to transfer coins to my wallet. They have a help process online that sometimes responds " I am still learning, do not understand your problem '', and also a form to fill out that sends back an email in a few days saying the problem has been corrected, with the same results on the website. This has been goin on since XX/XX/2020 with no solution on Coinbase 's part in sight. They also do not have any live customer support.
Company Response:
State: TX
Zip: 766XX
Submitted Via: Web
Date Sent: 2020-10-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-09-29
Issue: Money was not available when promised
Subissue:
Consumer Complaint: I created a account on coinbase to purchase bitcoin on XX/XX/XXXX and was unaware that there was a designated time period to withdrawal funds. I contacted coinbase support explaining the misunderstanding and ask if I could have a refund of my money, they replied that I had to wait to the specific date set by their security feature. I have contact them again today my funds are suppose to be available according to there system. I was not giving any reason to why my funds are not available when the withdrawal date is XX/XX/XXXX which is today. I am highly frustrated that they are holding my money without my permission. I have asked several times to have my funds made available. They don't have customer service available to call and speak to them only if your account has been compromised. This is very unprofessional and unethical, when you are responsible for people 's money you should have a live representative to speak too.
Company Response:
State: GA
Zip: 30328
Submitted Via: Web
Date Sent: 2020-09-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-09-24
Issue: Fraud or scam
Subissue:
Consumer Complaint: I wanted to use Coinbase as a bitcoin wallet. I then wanted to use XXXX.XXXX as a way of sending the transaction records to my accounting software, which is XXXX, XXXX an open source piece of software ). Currently, the Coinbase website is prohibiting me from doing this by blocking the sequence of steps by which I would connect the software using the XXXX XXXX. I sent an email to the customer service department of Coinbase describing my complaint and after several hours, they did not reply. I believe that they intend to deny me the ability to get my bitcoin transactions that way because they perceive that the " deal '' is " too good '' in my favor.
Company Response:
State: TX
Zip: 75230
Submitted Via: Web
Date Sent: 2020-09-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-09-24
Issue: Managing an account
Subissue: Deposits and withdrawals
Consumer Complaint: I have held for more than 2 years various currency and crypto currency within the account where i have mainly held for savings. On at least one occassion I have transfered OUT funds with no issue. On XX/XX/2020 I looked to transfer funds to another account in my name. After the PROMOTION of a 15 minute normal transfer I saw an email that stated they were withholding my funds for 72 hours. I needed the funds immediately as it would end of costing me XXXX dollars by not having funds in its righful place. As they do not have a toll free or any number to speak with a human being they only offer reaching out with a online form. I did this immediately, where I advised this HOLD for security purposes needs to be released and that I would do whatever it took to prove my identity. As well I made it clear this would be costing me if I could not get the funds. I recieved an email back quickly asking for a screenshot of my issue. Once I returned the email with what was taking place and asking how to resolve the hold, I got a bounce back email from the company and thus they cut of my communication on the issue. I then tried to start over with a new form and ultimately got nowhere. With no help. As noted not having funds transfered did cost me XXXX dollars. After 72 hours the funds were released but it was too late. As well 5 days after the fact they sent an email on the process to release funds within minutes rather than waiting 72 hours, but of cource it was 5 days late. In the end I have tried to reach executves at the company and requested the email to get back to me with a phone call. To this point no one has acknowledged me.
Company Response:
State: KS
Zip: XXXXX
Submitted Via: Web
Date Sent: 2020-09-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-09-22
Issue: Other transaction problem
Subissue:
Consumer Complaint: Coinbase will not allow me to add a bank account to my Coinbase account that will allow me to wire my money to my XXXX bank account.
Company Response:
State: TX
Zip: 766XX
Submitted Via: Web
Date Sent: 2020-09-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-09-21
Issue: Other transaction problem
Subissue:
Consumer Complaint: Today, XX/XX/2020, I sent a virtual currency by mistake to my Coinbase account address. They do not support this currency on their platform, however the token is XXXX just like the wallet address and on etherscan ( used to see blockchain wallets and transaction ) I can see the tokens in their host wallet. They refuse to send the tokens back to the sender address, in spite of it being an XXXX wallet which means it would be easy to do so. Their claim is that they don't want to open that wallet manually using private keys, but their own terms state " private keys associated with a specific address are virtually inaccessible outside of extremely limited circumstances. '' - implying there are limited circumstances they would access a wallet aka they *can* if it was a priority for them. So basically I sent {$12000.00} in a virtual currency which is now in a Coinbase wallet, and they've verified they could access the wallet and send it back but are refusing to do so.
Company Response:
State: CA
Zip: 95008
Submitted Via: Web
Date Sent: 2020-09-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A