Date Received: 2019-05-10
Issue: Other transaction problem
Subissue:
Consumer Complaint: Coinbase disabled my account for no reason and no explanation. I have placed multiple calls to their customer service line for over a month. Their customer service tells me that they have escalated my case to a " specialist '' and states that they will get back to me within 5-7 business days but never has for over a month. They would proceed to close the case without resolving the problem or contacting me with any explanation. Their customer service is non-existent. Referencing XXXX # XXXX XXXX XXXX XXXX
Company Response:
State: OH
Zip: 43017
Submitted Via: Web
Date Sent: 2019-05-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-05-08
Issue: Fraud or scam
Subissue:
Consumer Complaint: I set up an account with Coinbase out of XXXX XXXX, CA on XX/XX/XXXX. They required typical account opening information along with photo i.d . that I sent by using my phone to take a photo of the front and back. They also needed payment information for when I decided to do any transactions ( buying bitcoin or other such crypto currency ). I provided my banks routing number and account number. As of XX/XX/XXXX I received an email from Coinbase saying I was ready to buy. I was able to log in to the pc with my username and password. Please take note that I was never asked to submit a selfie when opening up my acount ... just the drivers license ( this is not a critical issue, but makes a point later ). I then began to make purchases of bitcoin on various days until I achieved how much I wanted. I then took a short break. While I was on vacation XX/XX/XXXX - XX/XX/XXXX I downloaded the Coinbase app on my XXXX phone. When I went to login it then asked me for an authenticator code. I did not have this on my phone set up so I just decided to do what I wanted from my pc when I got back. The next time I tried to log in and see my account was the morning of XX/XX/XXXX ( Tuesday ). All of the sudden the website was now asking me for an authenticator code. I tried to set this up from my phone, but realized that coinbase did not provide me a key to open it. Ok I thought, they have a customer service number so I can have someone just verify who I am and get me back accessing my account. I called at XXXX in the morning ( pacific ) and held until I talked to someone. The rep tried to talk to me about the authenicator, but realized we would have to go a different route. He said after I login I must click below the box on " unable to submit a one time code ''. Then he said I must follow directions to reset my account. He then said it will go in for review and TAKE 48-72 HOURS to review. WOW! I am now locked away from my funds for 3 days minimum! Unable to sell if I need to? Never heard of such a thing. I asked to be escalated to a supervisor, was put on hold ... and then disconnected. I started looking up more about Coinbase and discovered many other instances of this. Decided the best thing to do was try and reset the account by going through the directions to reset my account ... ..even if it was 3 days, I need to do something. I logged back in and went through what the site asked for. I submitted a photo of my drivers license ( front and back ) and then it wanted a selfie from my webcam. After I submitted these it loaded and took some time, only to come back saying it failed validation because a photo was too big a file. It did not say which one. I could only assume the webcam one because I submitted the photos of my drivers license the same way setting up the account. I tried 2 more times to submit the photos while trying to shrink the file of my selfie. Each successive try failed for the same reason. I called the customer support again at XXXX ( pacific ) and spoke with a woman who said I should try using my phone with the XXXX browser. She talked me through the process. She said to use the camera on the phone from the site to take the photos. I tried holding up my drivers license in the photo box ( she said it will not use the rear camera ) and taking the photos of the license that way. I submitted and I was denied again! This time because the photo of my drivers license was not clear enough. I tried again 2 more times with her on the phone. Each time being denied for the same reason. She then said she will have to put me in contact with " direct support ''. She said that they will email me and have me send in the stuff direct. I questioned her on whether I would get a call from " direct support '' or I could call them. She said that they do not call direct for security reasons. That seems odd and terrible! I said ok, and waited for an email from this " direct support ''. I did not receive anything but an email telling me what to do to upload photos. Decided to try and resubmit the drivers license and selfie on the website. This time after taking them it denied me saying I tried too many attempts and could not again for 24 hours. WOW! I then decided to call back at XXXX XXXX ( pacific ). I talked to a man who told me he did see that I was to be contacted by direct support. He said I should receive an email validating that. I said ok, but frustrated with all the run-around so far. I did get an email from coinbase saying that the support would email me and the reviews typically take from 4-5 business days, but sometimes longer ( I attached a screenshot of that email ). I decided there was nothing more I could do but research more on who could help me. This is where I found CFPB. Decided to sleep on it and take it up today ( XX/XX/XXXX ). Decided the first thing I would do is try again after the 24hours to resubmit the drivers license and selfie. This time I succeeded in getting the site to accept it. I now am waiting for the review and received an email saying it typically takes up to 72 hours ( 3 days ). Here are my concerns. They should addressed by coinbase : 1 ) Why was it so easy to set up my account without the selfie provided, but once coinbase received deposits from me and I got locked out, suddenly I have to go through many more challenging hoops. 2 ) It is unacceptable when a trading company such as coinbase has nothing better than a 3 day turnaround for clients who got locked out of their account. Ive worked for investment firms dealing with such matters, I have investments elsewhere, and NOWHERE is it like this. They always have someone available who can gain me access almost immediately. I am now waiting 3 days with money tied up in a speculative investment and if I get uneasy about owning I have nothing I can do. This is wrong! Also ... I still am not assured I will get my account verified. I will only get an answer in a minimum 3 days. 3 ) The tools to upload requested documents when someone gets locked out are awful. have directions on what the maximum file size can be. If someone is unsuccessful then there needs to be direct support who can call or be transferred to.
Company Response:
State: WA
Zip: 98042
Submitted Via: Web
Date Sent: 2019-05-08
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-05-06
Issue: Other transaction problem
Subissue:
Consumer Complaint: Attempted to sign into coinbase account but locked out due to 2-factor identification. When attempting to verify identity the identification process required access to device that was damaged ( which was also causing me to be unable to 2-factor identify ). Emailed coinbase customer support but was not given a method to verify identity and log into account without the damaged device. Was unable to be fixed in one year - attempted to resubmit a new ticket via coinbase website however submissions always time out.
Company Response:
State: NC
Zip: 28278
Submitted Via: Web
Date Sent: 2019-05-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-05-05
Issue: Managing, opening, or closing your mobile wallet account
Subissue:
Consumer Complaint: I had money on https : //www.coinbase.com ( Coinbase Inc ) which I withdrew and I still have not received it. On the XXXX XXXX I withdrew the following amounts to my XXXX bank account ( two separate transactions : XXXX XXXX I have contacted them numerous times but have not received my money back. The bank details are correct and I withdrew around XXXX the day before with no problem.
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2019-05-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-04-29
Issue: Wrong amount charged or received
Subissue:
Consumer Complaint: Hello my name is XXXX XXXX, I am a citizen of the United States. I have had an account opened with Coinbase which is a cryptocurrency exchange. On XX/XX/2019 at approximately XXXX XXXX I initiated 4 transactions on Coinbase from my XXXX bank account. The first transaction amounted to XXXX , second one was XXXX , 3rd one was XXXX $ and the last one was XXXX XXXX Before doing those transactions I had crypto currencies valued at XXXX $ at the time. Upon reviewing my account and transaction I realize that a XXXX was added to everyone of my transactions which I am certain was not a mistake on my end due to the fact that I review every transaction before completing it. These purchases were initiated via ach transfer.. I attempted to cancel these transactions but upon reviewing Coinbase user agreement terms I learned that once a ach transfer is started there is no way to stop it. 2 days later my Coinbase account was blocked due to failed payment and the XXXX $ which I had in my account. Coinbase has begun liquidating my assets stating that I owe them XXXX , I have contacted numerous times there customer service department but was unable to get any assistance. Coinbase is basically robbing me of my money due to a technical error on their end wether it was intentional or not I am not aware. I hope that this department will be able to assist me. My case number with Coinbase is XXXX.
Company Response:
State: ND
Zip: 588XX
Submitted Via: Web
Date Sent: 2019-05-09
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-04-23
Issue: Money was not available when promised
Subissue:
Consumer Complaint: Around XX/XX/2018 I attempted to initiate a vault withdrawal of XXXX Bitcoin on my Coinbase account so I could sell it for USD ( The value at the time was approx {$12000.00} ). The vault withdrawal got stuck and I never received the confirmation email. I contacted Coinbase support on multiple occasions and when I actually got a response from a living human they appeared to have not even read my complaint. Eventually they said they " escalated the complaint '' but I never heard back and nothing was fixed. A year later, the vault withdrawal is STILL stuck, and I am STILL receiving automated responses. I attached one of the email back-and-forths but there were a couple others with more or less the same sort of interaction. Zero real help on their part.
Company Response:
State: OR
Zip: XXXXX
Submitted Via: Web
Date Sent: 2019-04-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-04-20
Issue: Fraud or scam
Subissue:
Consumer Complaint: On XXXX I wanted to send all of my Cryptocurrency back from XXXX XXXX over to my Coinbase wallet. In my XXXX account I was currently holding {$3300.00} dollars worth of Bitcoin Cash. I went into to Coinbase to retrieve the address to send my current holdings on XXXX over to Coinbase. I copied the address and went back into to XXXX XXXX and pasted the address in to withdraw my Cryptocurrency and send it over to Coinbase which was the receiving end. I waited a few hours and figured the transaction was complete. When u checked my balance in Coinbase I only had {$2.00} dollars. I went in and checked XXXX and compared addresses and noticed that I selected a bitcoin address. I therefore, accidentally sent Bitcoin Cash to. Bitcoin address. After learning this I immediately sent XXXX XXXX a support ticket and I also sent a support ticket to Coinbase as well. XXXX XXXX reached out to me via email and explained that only the receiving end would be able to help me at this time due to it was sent to their address ( wallet ). I then completed another support ticket with Coinbase and explained what had happened and provided them with the XXXX XXXX and the date. Coinbase support reached back out to me via email and explained that my ticket has been escalated and a specialist was currently working on my case # XXXX. The agent from Coinbase stated it could take 5 to 7 business days to complete the investigation. I have sent in a support ticket once or even twice a day about this same issue. I will not be out of pocket {$3300.00} I guarantee that much. Both Bitcoin and Bitcoin Cash share the exact same Offical Logos which is confusing to not just me but thousands of people. I have read many complaints on this issue via XXXX search. Coinbase states that Hi XXXX, Coinbase does not support transactions where one cryptocurrency is sent to the address of a different cryptocurrency. This type of confusion can occur when cryptocurrencies share identical address formats, such as Bitcoin and Bitcoin Cash. While the two cryptocurrencies may each have identical addresses, they are separate blockchains and the shared address will have a different transaction history depending on which blockchain is being used. To see a list of the addresses previously used, please visit your addresses page here : https : //www.coinbase.comXXXX. For more information on the differences between BTC and BCH, please visit our Bitcoin Cash FAQ here : XXXX XXXX XXXX? XXXX. Using the same exact logo should be banned by the government because Bitcoin can easily be mistaken for Bitcoin Cash and vise Versa. Onl y Coinbase holds the private keys to these wallets and are the only entity who is able to retrieve the funds which are now stuck in the bitcoin address. If a wrong address is accidentally used the transaction should fail and return your money. Per Coinbase sen ding Bitcoin Cash to a Bitcoin address will result in permanent loss.???? Seriously? So we as the customer are out of money because of a flawed system? Banks would never allow this to happen. They have saf eguards set in place. Coinbase wants to take over the banking industry which will never happened because this market is highly flawed especially if peopl e can loss their money by a minor mistake. Coinbase also states on their website that they are The most trusted Cryptocurrency site. People will not trust anything that can easily result is loss of money for in this case fraud or scam you from your money since they hold the private keys to the wallets and they only have the power to retrieve lost money.
Company Response:
State: OR
Zip: 97306
Submitted Via: Web
Date Sent: 2019-04-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-04-17
Issue: Money was not available when promised
Subissue:
Consumer Complaint: On XX/XX/XXXX at XXXXAM ( Friday ), I initiated a wire transfer to Coinbase Inc. for the amount of {$3500.00} from XXXX XXXX XXXX According to Coinbase Pro : " Bank wire transfers may be credited to your Coinbase Pro account on the same day if submitted by XXXX PM PT. Otherwise, funds will be available after one business day. '' I have made several attempts to contact support and locate my funds ( and they have confirmed the funds have received notice of the wire on their end ). The best they can do is relay me to a 'specialist ' via email. I asked to speak to a specialist directly, and they do not have that as an option. Email responses are scripted. There are over 7,100 people on XXXX with the same issue. Please do something about this. This is fraud and false advertisement. I have confirmation from XXXX XXXX that they have indeed received the funds on XX/XX/2019. Coinbase Case # XXXX Thank you.
Company Response:
State: CA
Zip: 92807
Submitted Via: Web
Date Sent: 2019-04-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-03-21
Issue: Other service problem
Subissue:
Consumer Complaint: There are false/misleading advertising methods used by Coinbase for its referral program. In XX/XX/XXXX during the height of the cryptocurrency craze, I was referred to Coinbase by a website dedicated to sharing information about Bitcoin and other cryptocurrencies. Upon signing up, Coinbase told me, " Introduce a friend to Coinbase. You will both get {$10.00} of free Bitcoin when your friend buys or sells at least {$100.00} of digital currency. Learn more. '' After I signed up, verified and confirmed both my account and identity, and purchased at least {$100.00} worth of Bitcoin, Coinbase has been giving me a million and one excuses under the sun as to why they can not issue me the {$10.00} as promised. I have been inquiring about this issue for well over a year and absolutely nothing has been done. I reached out to Coinbase online support at least twice with the same, tired, generic unhelpful responses to my issues. In XX/XX/XXXX, I called Coinbase and spoke to a representative named XXXX and a supervisor named XXXX. Both were unhelpful and all they could do was decline me proper assistance, " understand '' and " apologize. '' They verified that I was referred, but they say because it is their " automated system '' that makes the final decision, that I am not entitled to my promised {$10.00}. So it's okay to XXXX over loyal customers, especially as long as you endlessly " apologize '' for the inconvenience and blame the inconvenience on the automated system that you refuse to fix, right Coinbase? I am absolutely disgusted with this company and their lack of competence and ethics. This is similar to bait and switch tactics of other companies and it is highly unethical for Coinbase to not take accountability for their wrongdoing whatsoever in this situation. They hide behind their " automated system '' that they have created to refuse customers their rightfully earned {$10.00}. How is a business even allowed to operate this way? How can a business have zero regard for their customers? Coinbase can operate a site, a whole trading system, etc yet they can't issue {$10.00}? Futile apologies simply do not solve problems. My expectations STILL have not been met and this is extremely unfair to the customer. I filed a complaint with the XXXX XXXX XXXX and Coinbase refuses to reach out to me and the XXXX about this issue. The XXXX actually tried to contact Coinbase twice and had to close my XXXX case due to " no response. '' Coinbase also closed all of my Coinbase cases and marked them as " resolved '' against my will. I have been in a few similar situations like this before with other companies and it was always determined that the company was in the wrong and they paid me accordingly. So I'm going to need Coinbase to fully cooperate and give me what's due. Thanks.
Company Response:
State: NJ
Zip: 08104
Submitted Via: Web
Date Sent: 2019-03-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-03-12
Issue: Money was not available when promised
Subissue:
Consumer Complaint: I have 3 Devices that access coinbase. In early XXXX my " computer '' coinbase account asked me to confirm my account through an e mail link. That never arrived. Later in XXXX both my cell phone and tablet asked to verify my account through a caoinbase email. neither of those have ever come through. I did what coinbase asked, checked my spam, added them to my contact list. Nothing. I've called 9 times since XX/XX/XXXX, to no avail. customer service is a sham, all they say is we'll look into it, and send you a e mail when we fix it. The emails from customer service do arrive, so coinbase emails are getting through. Its been 2 weeks now, I can not log into coinbase, I can not see my accounts, I can not withdraw my money. All I get form the " yes customer service people '' is their working on it. Never gets fixed, my computer has been locked out for 6 weeks. I'm not the only one! https : XXXX
Company Response:
State: ID
Zip: 837XX
Submitted Via: Web
Date Sent: 2019-03-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A