Date Received: 2019-05-30
Issue: Other transaction problem
Subissue:
Consumer Complaint: On XX/XX/2019 I initiated a transfer of XXXX LTC ( litecoin ) to Coinbase Pro. The transaction displayed as a deposit within the Coinbase Pro web interface after 10 minutes. The deposit was displayed for the incorrect amount of XXXX LTC and was not added to my balance. After 10 hours the transaction disappeared from the deposit history on Coinbase Pro. No LTC was deposited into my account on Coinbase Pro, the XXXX LTC was not returned to the sending address. I contacted Coinbase support and was provided a boilerplate response after 2 days that did not address the issue in any way. They refused to even research the transaction. The LTC was transfered from the Coinbase Pro generated address to another address where it still is.
Company Response:
State: VT
Zip: 056XX
Submitted Via: Web
Date Sent: 2019-05-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-05-29
Issue: Unauthorized transactions or other transaction problem
Subissue:
Consumer Complaint: On XX/XX/XXXX I had {$200.00} withdrawn from my account which I did not remember authorizing I called Coinbase and emailed them. While over the phone we were able to figure out that I did authorize the withdrawal 4 days later on XX/XX/XXXX I get an email from Coinbase that they have put my account on a temporary freeze due to the email I sent about the {$200.00} bank withdrawal. I have tried multiple times emailing and calling to have my funds released. But they have not been helpful Case number : XXXX
Company Response:
State: WA
Zip: 98684
Submitted Via: Web
Date Sent: 2019-05-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-05-25
Issue: Managing, opening, or closing your mobile wallet account
Subissue:
Consumer Complaint: I used a high interest savings account to fund the purchase of Bitcoin through the Coinbase Exchange in early XX/XX/2019. Unbeknownst to me, there was a limit of ( 7 ) electronic transfers ( ETF 's ) per month on this particular savings account. I made transfer requests on Coinbase above and beyond the ( 7 ) allowed, by mistake. I understand Coinbase fronted the money in anticipation of payment by these additional transfer requests, above and beyond the ( 7 ) allowed. The requests were rejected and Coinbase locked my account. I resolved the problem as soon as I was made aware of it and made sure the payments arrived at Coinbase ( within 5-days ) from a different bank account. All should have been well and Coinbase should have released the funds. However, they didn't. They allowed me to sell the Bitcoin to US $ but to this day, will not allow me to transfer the US $ out from the Coinbase account a total of {$68000.00}. Attached you will find : Two emails from XX/XX/19 showi ng the sale of Bitcoin ( into the cash $ account at Coinbase ). Two emails from Coinbase ( XX/XX/19 and XX/XX/19 ) customer service showing my interactions with them. Trying to resolve the issue. You can see where in bold they say We are not able to provide you with any additional information. I also have a problem where I deleted the XXXX XXXX app, so I lost my key for the XXXX XXXX verification. According to the sits FAQ ( attached ). They may need to perform a security reset so it reverts to the SMS verification so that I can do the final transfer, once the funds are released. You can see in the attached site FAQ document " Coinbase Reset Broken XXXX XXXX '' on page 2, line item " I lost or broke my security key ''. To reiterate my problem one more time ; Coinbase does not respond to my requests to transfer my cash out of their account back into my checking account. Nor do they respond to my requests to reset the 2-step verification.
Company Response:
State: NY
Zip: 11224
Submitted Via: Web
Date Sent: 2019-05-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-05-25
Issue: Fraud or scam
Subissue:
Consumer Complaint: I opened an account with Coinbase to buy cryptocurrency last month. I invested and deposited around XXXX $ in the Coinbase exchange and in XX/XX/XXXX Coinbase blocked my account and asked for some bank statement and ID card for verification. Its now almost two weeks and my account is still blocked and I have no access to my hard earned money which is stuck in their account. I called them 16 times and they keep telling me to wait. I have XXXX kids and have to run my personal expenses but I can not as my money is locked in their system and I have no way of getting my money back from Coinbase .i am loosing money everyday because the trade I did is now hanging in Coinbase with me no access to my account. Please help.
Company Response:
State: IL
Zip: 60659
Submitted Via: Web
Date Sent: 2019-06-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-05-23
Issue: Unauthorized transactions or other transaction problem
Subissue:
Consumer Complaint: My Coinbase USD account sustained a loss of approximately {$60000.00} through a series of unauthorized transfers on XX/XX/XXXX. My account was a funded USD account ( not a cryptocurrency account ). I reported the situation to Coinbase support later that same day ( XX/XX/XXXX ), and the correspondence continued by email for the next three weeks. Coinbase asserts that I am fully liable for the loss because they " had no reason to distrust the activity in question. '' - Because my funds were in a prepaid USD account and because I reported the breach within two business days, Regulation E limits my total liability to {$50.00}. - To support their position that I am liable, Coinbase made several demonstrably untrue statements regarding the unauthorized activity, concealing and omitting events that should have raised their suspicion ( see attached email ). In compliance with the Coinbase Terms of Service, I submitted a complaint on the morning of XX/XX/XXXX disputing Coinbase 's determination. The Terms of Service state that Coinbase will acknowledge receipt of the Complaint after it is submitted. Coinbase has sent no such acknowledgment. The full email chain of my correspondence with Coinbase is attached.
Company Response:
State: NY
Zip: 10022
Submitted Via: Web
Date Sent: 2019-05-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-05-19
Issue: Other transaction problem
Subissue:
Consumer Complaint: On XX/XX/2018, I noticed that my Coinbase account was restricted from making purchases. When I looked further, it was because they erroneously believed that my account owed them {$350.00}. This was an issue because I still had virtual currency in my account, and was now no longer allowed to liquidate it or to transfer money out of my account. As such, on that day I emailed Coinbase support. Coinbase support then got back to me, saying to verify my account. I verified my account. Then, they got back to me saying that I was wrong, and that I owed them money. I called customer support, and they looked deeper into my account, and asked me to send details from my bank statements to prove that I do not owe them money. I complied with this. They then said that this would be escalated to a specialist to be resolved, on XX/XX/XXXX itself. For the next 6 months, they continually ran me around, giving me various answers, and continually asking me the same questions regarding providing details and evidence that I did not owe them money. I continually did so. All correspondence is included in the attached email. Continually, they said that I owed them money, and when I explained and proved I did not, they continually said it would be referred to a specialist, and it never was. I have provided them with bank statements with highlighted transactions and highlighted refunds related to Coinbase ' double charge issue and all of the transactions balance out to {$0.00}, not the negative {$350.00} that they are claiming, but despite this evidence they have not even tried to rectify the situation. Recently, on XX/XX/2018, they took the step of liquidating {$65.00} worth of litecoin from my account, and seizing those funds, without decreasing my outstanding negative balance by such. Currently, they still have a negative balance of {$350.00} on my account, and are threatening to try to seize even more funds. No matter how many times I try to rectify the situation, or provide them evidence to support my case, it is continually disregarded. It has been over one year since I first reached out to them, and they have still not provided me with any answer or even attempted to resolve my situation.
Company Response:
State: VA
Zip: 23060
Submitted Via: Web
Date Sent: 2019-05-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-05-18
Issue: Confusing or missing disclosures
Subissue:
Consumer Complaint: On XX/XX/2019 I initiated an ACH transfer to Coinbase since my only given was the ACH. I purchased XXXX dollars so I can exchange it to digital currency. After the purchase according to the agreement the funds to be ready within 3-5 days and after were cleared and in the history section it will show complete in green. I then waited and then when I checked my account the statement stated the transaction was complete. When I went to send the money out much to my surprise my account was a XXXX balance available to move. And I had a waiting period of 17 days before I can move or send money. This was not disclosed otherwise I would never have done it. I opened my account I went through various steps of identification. They validated my bank and debit card digitly and then I had to wait due to making sure than they were protecting me from fraud. I have a question if money was ached and then cleared there is no reason to protect my currency. Everything went fine. After much research i found out this happens to many many clients. Some never get their monies back. This is a scam and as a US based company it is a shame and a crime to nor have full transparency and disclosure policies.. The coustumer service is not helpful. Email goes to a deaf ear. It always is the same response to go and see question and answer pages. The company does not specify the holding time. Till your purchase is complete then it shows that your funds will be on hold for certain days. They claim during the purchase it show the waiting but that is a lie and a misleading statement they try to confuse you and they do a great job. After all they have been practicing this unethical act for years. I want accountability. They need be forth coming with their policies. They may not publish a partial part of their polices and expect us to read between the line. I have XXXX dollars as of now and it will fluctuate on the next few days. Their terms should be visible requiring a digital signature and then maybe the consumer will choose not to sign up. They state that the personal information is not shared. Another lie. They track your spending which is a violation This is a platform only that states the owner of the account has complete power over their wallet. Then why is my urgency held hostage? I like to see companies to take accountability and the greed not to take over. My research of various sites such as FTc has indicated that this is done to gain interest while holding the currency. So if you are going to take money from me at least admit it and take accountability and donr act life a coward all my 12 plus emails have gone to deaf ears. They do not give you a choice but the ACH which they know they can hold the funds this is unethical/ criminal and needs to stop
Company Response:
State: CA
Zip: XXXXX
Submitted Via: Web
Date Sent: 2019-05-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-05-16
Issue: Money was not available when promised
Subissue:
Consumer Complaint: Invested into XXXX using coinbase invested XXXX $ and went to withdrawal the money through wire transfer and never seen the money after 6 days I NEED HELP
Company Response:
State: NY
Zip: 11720
Submitted Via: Web
Date Sent: 2019-05-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-05-15
Issue: Unauthorized transactions or other transaction problem
Subissue:
Consumer Complaint: On XX/XX/2019 at XXXX XXXX, I transferred XXXX XLM from my Blockchain account to my coinbase account. I didn't add a memo due to it being labelled ( optional ) but realized it was needed when I sent the money over. I contacted coinbase and they said they would resolve this issue and have my money in my account within 5-7 business days. It is now XX/XX/XXXX and still no reply or money added to my account.
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2019-05-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-05-11
Issue: Confusing or missing disclosures
Subissue:
Consumer Complaint: This is going to lead to a suggested resolution to case XXXX.
Company Response:
State: FL
Zip: XXXXX
Submitted Via: Web
Date Sent: 2019-05-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A