Date Received: 2019-09-12
Issue: Other transaction problem
Subissue:
Consumer Complaint: Coinbase locked me out of my account and after over 100 attempts to contact them via telephone and multiple online support efforts, my cryptocurrency wallet is inaccessible and I have exhausted all efforts to resolve this issue. I'm willing to provide a passport, bank account information, a driver 's license, or travel to their XXXX headquarters to resolve this matter! Many of thousands of my dollars were placed in the hands of Coinbase, supposedly the most secure and safe wallet in the industry. I feel violated and I'm devastated! This is THEFT!
Company Response:
State: OR
Zip: 97203
Submitted Via: Web
Date Sent: 2019-09-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-09-10
Issue: Confusing or missing disclosures
Subissue:
Consumer Complaint: Coinbase has locked me out of my account. I tried following their instructions to log in but nothing I have done has worked. I have tried contacting them through phone and e-mail but they have not responded.
Company Response:
State: FL
Zip: XXXXX
Submitted Via: Web
Date Sent: 2019-09-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-08-23
Issue: Other transaction problem
Subissue:
Consumer Complaint: Hello I woke up to my account being disabled for trading on XX/XX/2019, I did not received any email, text, notification or any other form of contact letting me know my account was restricted, I spoke twice to coinbase representatives during the day, the first one hang up the phone on me when I asked to be transferred with a supervisor, the second did not transfer me either, just kept saying " a specialist '' has to review my account, then I received a case number by email ( Case # XXXX ) I'm filling this complain because of the lack of communication and poor customer service from coinbase, I have been a loyal customer for many years, I also trade a lot of money monthly, I think im not receiving the treatment I deserve as a customer, you just can not disable a customer 's account without at least sending an email with an explanation. I have a balance of {$270000.00} on my account which I use to trade, I trade for a living so I don't have any other form of income, that's why im trying to get this solved as soon as posible.
Company Response:
State: FL
Zip: 33183
Submitted Via: Web
Date Sent: 2019-08-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-08-16
Issue: Fraud or scam
Subissue:
Consumer Complaint: On XX/XX/19 at XXXX on Coinbase I sent {$300.00} to XXXX They say the transaction is complete but my money is not there. They will not discuss it with me over the phone and refuse to answer my emails. I dont know what to do Im out {$300.00} and they just get away with it. Please help
Company Response:
State: TX
Zip: XXXXX
Submitted Via: Web
Date Sent: 2019-08-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-08-15
Issue: Problem adding money
Subissue:
Consumer Complaint: Hi, I transfer funds XXXX out of my bank account ( XXXX XXXX ) on the XX/XX/Aug2019 to purchase bitcoin to my wallet with Coinbase, unfortunately it hasnt shown on my Coinbase account, I have contacted Coinbase many times via phone and email and all I get in the form of a response is its being looked into and we will get back to you for a bank reverse. I would like to add there on guidelines state it takes 3 working days??? its the XX/XX/XXXX and has gone beyond these guidelines. The only actions the company has taken is emails saying they will get back to me and it has been escalated .which has not happened
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2019-08-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-08-15
Issue: Money was not available when promised
Subissue:
Consumer Complaint: I purchased XXXX virtual tokens ( also called REP ) in 2 separate transactions, one on XX/XX/XXXX and one on XX/XX/XXXX, from Coinbase Pro for a total of {$780.00}. I tried to withdraw these tokens to a wallet address sometime between the XX/XX/XXXX purchase and XX/XX/XXXX, which was when I notified Coinbase that I was getting an 'internal server error ' message when I attempted to withdraw to a wallet address. Coinbase asked me more questions about the issue and claimed they sent my problem off to a specialist to further investigate the issue on XX/XX/XXXX. Since then, I have not heard from anyone besides Coinbase 's first line support that yes, my case has been sent off to a specialist, but they will give no further details. I have been patiently waiting for answers for almost 1 month, which is far beyond the 4-5 day resolution time they initially quoted me. Coinbase is putting me at risk of losing my tokens in the event of an exchange hack or a delisting. The entire point of cryptocurrencies is that you can send them when and where you want without a third party getting in the way ; however, this is exactly what Coinbase is doing and they won't give me answers or try to remedy my situation. In essence I've been sold a worthless product by Coinbase.
Company Response:
State: NY
Zip: XXXXX
Submitted Via: Web
Date Sent: 2019-08-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-08-13
Issue: Other transaction problem
Subissue:
Consumer Complaint: Coinbase Case XXXX On XX/XX/XXXX, An unauthorized purchase was made on my Coinbase account after apparently being hacked. This was in the amount of XXXX Bitcoin or {$24000.00}. As soon as I noticed that same night, I contacted my bank and coinbase. After my bank reversing the transaction ( I obviously can not afford $ XXXX as my bank account is around $ 1k ) Coinbase informed me that my account was going to be locked and investigated. Keep in mind, I had north of {$1500.00} in crypto on that account that I had been saving up for months. After waiting for weeks, calling everyday to no avail and emailing back and forth, I was greeted with an email saying that I was gaining access back to my account after deeming the transaction was unauthorized. I was happy for a total of one minute until I logged in to see that my account had been drained to pay off the debt of the unauthorized purchase. Those XXXXbtc were purchased at a higher price-it dropped-and coinbase left me on the hook for something I didnt even purchase. Now my account shows {$0.00} in crypto and around {$3000.00} in debt that is required in order to even use the account. Im a small customer and used this site to build my savings slowly. I would never purchase nearly 25000 dollars for anything with my current financial status. The purchase was totally uncharacteristic and unlike any of my many other purchases and shouldve raised a red flag but instead Im left with debt for something I played no part in.
Company Response:
State: NJ
Zip: 07470
Submitted Via: Web
Date Sent: 2019-08-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-08-12
Issue: Other transaction problem
Subissue:
Consumer Complaint: The company Coinbase removed the debit card that I had on file from my account for over two years. I'm now unable to make or receive purchases. The card had been authorized and verified. I'm very concerned for my privacy. The same company has also retaliated in the past, after I submitting a consumer complaint. I'm very concerned that at the present, the company Coinbase views itself as being immune from any prosecution for its insider trading schemes.
Company Response:
State: AZ
Zip: 85345
Submitted Via: Web
Date Sent: 2019-08-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-08-06
Issue: Managing, opening, or closing your mobile wallet account
Subissue:
Consumer Complaint: Dear CFPB I am an XXXX XXXX from XXXX who came to the United States to achieve a XXXX XXXX as my initial plan. Now I am XXXX fXXXX at XXXX University, MD. I made my first payment for Bitcoin at Coinbase on XX/XX/XXXX and then around 30 more payments until the last payment on XX/XX/XXXX. I also bought Ethereum and Litecoin. I have verified my account with Coinbase such as uploading my driver license, connect with my bank account at XXXX XXXX XXXX. At this time, I can fully control my account like send, withdraw, sell to USD. Importantly, my strategy is that I am a holder who buys and stores for a very long time like 5 years later, so I do not trade, buy and sell frequently. I just buy and hold. I do not check my account frequently. Then when the price of Bitcoin goes uptrend from XXXX to around XXXX this year in XXXX, I go check my account and Coinbase block me from fully control it. I can not withdraw, send to my hard wallet, software wallet as well. Coinbase asks me to verify my account again with Social Security Number ( SSN ). However, at the first time when I buy Bitcoin on Coinbase, Coinbase does not require me to have SSN or ITIN. At this time, I still can transfer my cryptocurrencies and fully control my account. I am just an XXXX XXXX who does not work, I just XXXX in the U.S for XXXX. So that I dont allow to have SSN or ITIN because I do not have the income to pay for the tax. I just buy it and hold for a very long time. I also have proof of document for my ineligibility to have an SSN from SSN Administration. Now Coinbase blocks me from using my coins. I believe in Coinbase and happy to pay a fee every time I bought coins as a loyal customer. This is very not fair for me if all my cryptocurrency being blocked from using which is bought from my own money. In addition, Coinbase did not send me any warning to my email or phone number that they change the policy for international students or customer who does not have SSN or ITIN so I can withdraw before they change it. I only have a valid driver license, XXXX XXXX for XXXX XXXX, XXXX University student id card, valid XXXX, valid XXXX and bank account from XXXX XXXX XXXX. Thank you CFPB admin for concerning my case.
Company Response:
State: MD
Zip: 216XX
Submitted Via: Web
Date Sent: 2019-08-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-08-05
Issue: Managing, opening, or closing your mobile wallet account
Subissue:
Consumer Complaint: I have been trying to withdraw funds from my Coinbase.com account ( Cryptocurrency ), for the past month. Currently, my Litecoin, Bitcoin, and Ethereum Classic are sitting in my Coinbase vault accounts. In order to transfer the cryptocurrency from my vaults to regular wallets, I need to approve the transfer of funds from a secondary email/phone number which are both no longer active. Because I don't have access to my vault 's secondary email or phone number, I can not approve the transfer to my regular wallet or approve the withdrawal of funds to my bank account. I have tried contacting Coinbase via email and phone, and have not had my issue resolved. They told me they could manually transfer the funds from my vault to my regular wallet and then delete the old vaults. This would allow me to withdraw my funds. They had me authenticate my account, but I have not heard anything since. The company continues to say they are working on the case, but I have not had any resolution or update. I have contacted them via phone on XX/XX/XXXX XXXX. I have contacted them via email on multiple dates, they have not responded : The latest contact was XX/XX/XXXX. The original date of contact was XX/XX/XXXX.
Company Response:
State: NY
Zip: 125XX
Submitted Via: Web
Date Sent: 2019-08-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A