Date Received: 2020-05-24
Issue: Managing, opening, or closing your mobile wallet account
Subissue:
Consumer Complaint: My complain is about my account been blocked. I am facing challenges with my bitcoin wallet. I accidentally sent bitcoin to a wrong address. The company this complain is about coin base. The us coinbase are the people involved.
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2020-05-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-20
Issue: Managing, opening, or closing your mobile wallet account
Subissue:
Consumer Complaint: On XX/XX/XXXX I received a notification of a {$5000.00} withdrawal from my checking account into CoinBase, I contacted CoinBase showing concern as I didnt process this transaction. However very shortly after found out my younger sibling processed this which I was okay with since it was someone I was familiar with. There was no customer support so when I filled out their online information CoinBase immediately locked me out of my account and stopped me from having access to my funds! There was no fraudulent activity whatsoever however coin base still went ahead and blocked access and restricted my money
Company Response:
State: CA
Zip: XXXXX
Submitted Via: Web
Date Sent: 2020-05-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-18
Issue: Managing, opening, or closing your mobile wallet account
Subissue:
Consumer Complaint: Hi, I have opened an account with Coinbase and successfully went through their KYC process. I successfully linked my XXXX XXXX XXXX bank account to fund the Coinbase account. I purchased two Bitcoins and some other alternative coins without any problem. Three weeks ago I was unable to purchase any other coins because my 'buy ' option was XXXX. The error message said as such but without any details. I logged several tickets without success and received only once response which seemed like a robo answer saying the issue would be 'escalated '. This has been over a week and no further communication was provided. At this point, I simply want to liquidate my account with Coinbase but I am unable to do so and without any recourse. I currently hold about {$21000.00} dollars in digital assets in my Coinbase account. Without any recourse or ability to access my assets I consider them stolen. The fact that I 'see ' them in account without having any transaction rights does not change this reality.
Company Response:
State: FL
Zip: 33176
Submitted Via: Web
Date Sent: 2020-05-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-18
Issue: Other transaction problem
Subissue:
Consumer Complaint: I have an account on a digital currency exchange, named Coinbase-Pro, located in XXXX XXXX, California. On XXXX at XXXX XXXX, I tried to make a transfer of funds from the Coinbase-Pro platform, into another account at XXXX currency exchange. The amount that I wanted to transfer was XXXX XXXX crypto-currency. As soon as I finished the transaction, I got a message on that Coinbase-Pro screen, saying that my transaction had failed, and that I have to manually transfer the funds to XXXX account by following a link that was included in that warning message. I followed the link that was recommended by Coinbase-Pro message and I was instructed to call a customer service number. I called that number, that is located in California XXXX XXXX XXXX, and I spoke with someone who said that he is a Coinbase customer service rep. I followed the instructions given by that person, who said that there is a glitch on my Coinbase account, and while I was on the phone with him, he changed my 2-way authentication factor, I was not able to get a new authentication pin on my phone, and that Coinbase customer service rep. removed from my account at Coinbase Pro XXXX XXXX coins, at an aproximatlly value of {$13000.00}, then my Coinbase account got frozen, I can not access the account since XX/XX/2020, and after I immediately reported this incident to the fraud department from Coinbase, I got a couple of e-mails from them telling me that they are investigating the report. I will include here a copy of the e-mail from Coinbase, with the case number that was given by them : XXXX From : Coinbase Support XXXX | Save to Address Book | Block Sender To : " XXXX '' XXXX Subject : [ Reply ] Case # XXXX - Someone from Coinbase Pro took out from my account XXXX XXXX without my consent Date : Tue, XX/XX/2020 XXXX XXXX Report As JunkBlock Sender [ Print ] Hi XXXX, Thank you for following up with us. This request is already being addressed through case XXXX. Please note that we will merge this case with the previous one created, so we kindly ask you to use that case number to communicate with us and track current developments involving your request. This is to ensure the account specialist working your case is notified. Kind regards, Coinbase Support ref : XXXX : ref The person that took my XXXX funds from my Coinbase-Pro account, had an XXXX accent, and also the person that I spoke with on the phone when I reported the fraud on my account, had also an XXXX accent. I believe that the person that committed this fraud to my account, is still working for this company, or maybe he is a former employee that has all the necessary knowledge to commit this type of crime. Coinbase is holding my money, blocked my account, they also blocked my phone number so I have no way to reach them by phone, and they are ignoring my repeated attempts, by e-mails, to resolve this matter. I am prevented from selling, buying, transferring or accessing my property and also cutoff from all transaction history and other information. However, I still have records, on my XXXX XXXX account, that can show all the transfers that I made from my XXXX wallet acount ( XXXX ) into the Coinbase walet account ( XXXX ). This transactions were made from XXXX till XXXX, when I sent to Coinbase over XXXX XXXX in a total of seven transfers.
Company Response:
State: IL
Zip: 60659
Submitted Via: Web
Date Sent: 2020-05-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-18
Issue: Other service problem
Subissue:
Consumer Complaint: Since my mother 's death in early XXXX and my discovery at that time of a Coinbase account in her name, I have -- as her next of kin and former PPOA -- attempted repeatedly to contact Coinbase support to obtain access to her account. Multiple initial attempts to use their online customer service support form to file " obtain access on behalf of a deceased account holder '' didn't even result in a single automated response. They do not offer phone support or publish an address for postal contact, so at the time I was stymied. Finally, on XX/XX/XXXX, I created a Coinbase account of my own on the suspicion that their automated form simply refused to email anyone that didn't have a registered account ; this proved correct, and I received another automated email listing all the documents I would need to supply in order to successfully request access to my mother 's account ; their instructions were to then " contact them '' once those were uploaded. I uploaded those documents -- death certificate, etc. -- and both replied to the automated email and resubmitted the form, not being sure what other form of " contact '' might be useful. It has since been a week, and I have not heard back from anyone ( and, more importantly, am not even sure how to follow up. ) I want to emphasize that I have no idea how much money is in my mother 's account and would not be doing business with Coinbase at all under my own initiative, so their complete inaccessibility is doubly frustrating. This is the text of their automated reply ( once I created an account to receive one ), sent XX/XX/XXXX : " Dear XXXX, We are saddened to hear about your loss. To help us process this request, we will need copies of the following documentation : 1. Death Certificate 2. Last Will and Testament - AND/OR - Probate Documents ( either Probate, Letters Testamentary, Letters of Administration, Affidavit for Collection or Small Estate Affidavit ) 3. Current, valid government-issued photo identification of the executor named in the Letters Issued 4. A letter signed by the person ( s ) named in the Probate Documents instructing Coinbase on what to do with the balance of the Coinbase account Additionally, we will need the email address of the account holder. If there are more than one possible email address, please list them with the most probable email address at the top. You can safely upload these documents here : https : XXXX Take as much time as you need and contact us when you are ready and the documents have been uploaded so that we can continue with the review. If you have any additional questions about this process, reply to this email and we will be happy to answer. Thank you very much for your patience and help. Regards, Coinbase Support ref : XXXX : ref ''
Company Response:
State: WI
Zip: 535XX
Submitted Via: Web
Date Sent: 2020-05-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-16
Issue: Unauthorized transactions or other transaction problem
Subissue:
Consumer Complaint: I have been conducting business with an online digital currency company called Coinbase. I have opened an unlimited number of tickets, but they refuse to give me access to my account assets.
Company Response:
State: NY
Zip: 11238
Submitted Via: Web
Date Sent: 2020-05-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-14
Issue: Fraud or scam
Subissue:
Consumer Complaint: Reference : Coinbases transfer to FRAUD SCAM Brokers : XXXX. I would like to bring your attention to a serious issue I have with Coinbasewires that first took place on the XXXX of XX/XX/2019. I have been victimized by a multilayered scam operation orchestrated byXXXXs - the Company. The funds were transferred utilizing Coinbase 's services in the total amount of XXXX XXXX! I would also like to point out that on the XXXX of XXXX XXXX I filed a dispute with Coinbase.
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2020-05-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-12
Issue: Managing, opening, or closing your mobile wallet account
Subissue:
Consumer Complaint: on the XXXX XX/XX/2020 i first contacted Coinbase support as they restricted my account for a completely unapparent reason. this has made it impossible for me to withdraw my money after i sent 4 tickets their last response was " Coinbase reviewed your account and has determined that you are not eligible to use the Coinbase platform to purchase cryptocurrency or use our deposit services. As such, you are no longer eligible to link any payment methods. We are not able to provide you with any additional information '' this is very distressing i know longer know who i can trust and i am afraid using any other financial services over the internet. i have XXXX us dollars sitting in the account and it may not seem alot to some but i worked hard for that sum
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2020-05-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-08
Issue: Fraud or scam
Subissue:
Consumer Complaint: I started trading in the Internet-based platform of a merchant called XXXX XXXX ( hereinafter the Merchant ), available under https : https : //hyperlink.services.treasury.gov/agency.fincen? origin=https : //fxnobels.io. The Merchant claimed to be a financial investment firm dealing with regulated financial tools, such as CFDs, indices, binary options, commodities, etc. In addition, the officers and employees of the Merchant are also presented as experienced financial brokers. We contend based on our research in the available public registries that the Merchant is not licensed to offer regulated financial tools or to provide financial advice to third parties. Furthermore, our investigation in the case has discovered that there are warnings and citations by Government authorities for a lack of license issued against the Merchant. In light of this information, it can be concluded that the Merchants claims to have been a registered finance broker are a clear example of a misrepresentation of the Merchant. Acting in good faith and in reliance of the Merchants claims, I ordered a service-related opening of an investment brokerage account to be used for subsequent trading with financial tools in real time. Following this, certain amounts of money were withdrawn from my bank account. The Merchant undertook to provide me with an investment account and to keep my money on this account, which never happened and by lack of respective license. I should have been granted access to such account in order to be able to use it for trade financial products as listed. All this never happened as the Merchant lacks the license ( misinterpretation of the service ). Any trading services at that time were not connected to my funds. This is not the service that the Merchant is required to have provided ( service not as described ), XXXX AND COINBASE PART IN THIS CASE : There have been several digital currency transfers using e-wallets supplied by XXXX and Coinbase over the course of the agreement between me and XXXX XXXX. Because of the sensibility of the matter and with regards to considerations for protecting the public interest and financial stability such licenses are listed in publicly available registries. Especially banksXXXX shall be aware of the fact if a Merchant receiving payments for financial services and having declared before the bank/XXXX as a company main business provision of financial services ( or similar wording ) has the required license, or not. Such a business model should have been disclosed to you when the Merchant applied for your services. The due diligence would prerequisite in such case prior commencing processing payments of the Merchant you to have performed an initial and ongoing check-up of the Merchants entitlement to provide financial services. By lack of license, the bank/XXXX should refuse processing payments for such Merchant in order to meet the mandatory regulations. An offence against the financial system stability is perpetrated by, not only the person acting directly without a licence ( i.e. the Merchant ) but also by any person ( s ) allowing and/or contributing in some manner to this occurrence ( i.e. Bank, or financial institution ). According to this, a registered payment institution and/or their officers in charge, need to be able to prove that they were compliant with the legal provisions applicable. Acting as such it is within their line of duty to request and verify the required Know-your-customer documents, including financial licence, and to perform the due diligence accordingly. Should a digital currency exchange fail to prove that their due diligence was duly complied with, they are in breach of their legal responsibilities to their clients. According to this in its capacity of service provided engaged with a money value transfer service and XXXX/ XXXX-XXXX custody management, XXXX and Coinbase, or their officers in charge with the claimed transactions, could under certain circumstances be considered as a person ( s ) facilitating provision of financial services by the Merchant or others, as the case may be, unless they prove that they were compliant with the legal provisions applicable for the transactions in question, for example, that they were presented with the required know-your-customer documents, including financial license, or if they prove successfully that their due diligence does not include the check-up of such publicly available information of substantial importance for the concerned transactions. Based upon the above we would like to be informed if XXXX and Coinbase has performed diligently check-up of the Merchant, including inquiry in the public registries ( identity, license, activity, etc. )? Was XXXX and Coinbase ever in possession of a valid license of the Merchant in order to process payments for provided finance services? If not, why were the disputed transactions processed by XXXX and Coinbase? In any case, we demand disputed transactions made in favor of unauthorized Merchant, which makes such payments and transactions not grounded and fraudulent ( i.e. null and void ), to be remedied. Risk from a money-laundering : In order to mitigate the potentially higher risks which arise from entering into relations with unregulated Merchant, the following enhanced due diligence ( EDD ) measures may be implemented by a diligent provider of virtual currency exchange : a ) corroborating the identity information received from the customer, such as a national identity number, with information in third-party databases or other reliable sources ; b ) potentially tracing the customers IP address ; c ) searching the Internet for corroborating activity information consistent with the customers transaction profile, provided that the data collection is in line with national privacy legislation ; d ) intended nature of the business relationship, obtaining information on the source of funds of the customer, obtaining information on the reasons for intended or performed transactions, and conducting enhanced monitoring of the relationship ; In case of an initiated digital currency transaction when the recipient does not have an account opened at a web-based system of a virtual asset service provider, as a matter of good practice, the virtual asset service provider shall invite the recipient to open such an account. In this way the digital currency exchange operator will be able to fulfill his obligations to obtain, hold, and transmit the required originator and beneficiary information in order to identify and report suspicious transactions, monitor the availability of information, take freezing actions, and prohibit transactions with the designated persons and entities. With this regard, we would like to kindly inform ourselves what was the scope and the result of the customer authentication concerning the Merchant that XXXX and Coinbase should have performed both, prior commencing to receive payments on its behalf and subsequently after having started receiving payments for financial services on its behalf? Did XXXX and Coinbase underwriters ever access the web-platform of the Merchant, the sites of the financial conduct authorities and other sources of relevant information or the customer authentication has been made only based upon the formal provision of the Merchants application? What was the ultimate result of these measures, respectively was the Merchant ever assessed as being a risk from a money-laundering prospective? Finally I sent a letter to XXXX and Coinbase asking for their your support and understanding in the case concerning XXXX XXXX and they have been silent on the issues raised in the letter and refuses to respond after several attempts.
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2020-05-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-08
Issue: Fraud or scam
Subissue:
Consumer Complaint: XX/XX/2020 {$300.00} XX/XX/2020 {$68.00} XX/XX/2020 {$190.00} XX/XX/2020 {$50.00} XX/XX/2020 {$400.00} XX/XX/2020 {$100.00} I was purchasing different crypto coins in hopes of a significant ROI after the Bitcoin halving event coming up in two or three days time. My linked payment accounts were disabled when I tried to purchase XXXX and XXXX this morning early around XXXX XXXX. I called the XXXX number for help. The automated bot told me to push 1 on my keypad if I believed my account was compromised. So I did, now it's disabled. I've sent multiple messages for help. No human response. I've followed automated instructions to regain access to my account. I completed the verification of ID several times. That includes front and back photos of my driver 's license and a head and shoulders picture of myself. It claims to verify my ID within 5 mins. It does not, even after 30 mins. I've desperately tried multiple times today. I need help. This company isn't helping what so ever. I honestly believe they've stolen my investment, which was increasing in value. Thank you kindly, XXXX
Company Response:
State: IA
Zip: 51501
Submitted Via: Web
Date Sent: 2020-05-08
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A