Date Received: 2019-03-07
Issue: Confusing or missing disclosures
Subissue:
Consumer Complaint: I purchased bitcoin {$500.00} worth off of coinbase on XX/XX/2019 for a total price of {$510.00} which had a {$10.00} fee assocaited for the transaction. The money was taken out of bank account via ach on XX/XX/2019. I then wanted to send the money to someone via a direct transfer. I was informed by coin base I couldnt send my money until a 10 day business hold had taken place. Which I find unreasonable because the money was taken out of my account. As you know the price of bitcoin flucuates daily. I bought it to send right away, not to hold for 10 days. I then called them an explained my funds had been taken out of my account, and I would like to send it. They told me I couldnt, but said I could sell it and then buy it back when I wanted to send it. This would allow them in charge me two more fees!!!!!! Imgiane how much money they can have on hand to manipulate the market if they do this. They could have miilions of dollars they have taken out of accounts to easily by and sell to manipulate prices. They told me they couldnt refund my XXXX or even my fee.
Company Response:
State: MI
Zip: 49707
Submitted Via: Web
Date Sent: 2019-03-07
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-03-05
Issue: Unexpected or other fees
Subissue:
Consumer Complaint: To CFPB bureau. My name is XXXX XXXX Address : XXXX Phone number ( XXXX ) XXXX As a Victim of the untrustworthy crytpo currency trading service of COINBASE Website https : //www.coinbase.com Mailing Address XXXX XXXX XXXX XXXX XXXX XXXX XXXX, CA XXXX Ive been using the Coinbase app to start doing some business regarding to crypto currency trading. At first the holding fund status of my account is 18 days ( too long??? Fraud??? ) instead of 5-7 days like what written is terms and conditions on their website. And I am not the only one ... .... Lately I found out there were targeting specificly US customers Search on google I found out there was thousands thousands of complaining about COINBASE BEING ROUGE, empty customers banks with hidden fees charge, using incorrect exchange rates, holding fund for 1-3 months to stealing our hard work money, causing frustration and return our emails with the same methods were working on it please be patient. To me its like were stealing your money in front of your nose, so what! I have {$490.00} crytos in my account with coinbase. Later on I did the calculations with all of my transaction and found out I lost merely {$60.00}! Which is impossible 1/Every {$100.00} trading into XXXX XXXX I lost {$27.00} not {$3.00} like they said I did at least 32 transactions from $ XXXX {$3000.00} each Time the amount Never match EVEN I INCLUDED THE TAX and THEIR SERVICE FEES. the difference around 7-17 % consider how much they scam from people. 1/ holding for 18 days, they said to prevent fraud, however they took the money from my bank a second they received the order. And release them whenever they like? 18 days for me, some folks got 2 months This is an act of criminal, agains customer free will Acting like a big guy with the cryto fakes Please, take a look of my complain letter, do the investigation, return justice to the US citizens. LET MAKE SURE COINBASE IS PURNISH. Their company deserve jails, and I know they rich enough to pay for every fees. Lets game on Best regard
Company Response:
State: CA
Zip: 92840
Submitted Via: Web
Date Sent: 2019-03-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-03-04
Issue: Other transaction problem
Subissue:
Consumer Complaint: Coinbase implemented the support for XRP cryptocurrency and when I pulled up the deposit web form it showed only the wallet address, it did NOT show an XRP tag, so I completed the transfer and it said it would take 10min, after 20min I checked my wallet and it was not in there, so I opened up a support ticket, they said that the form should have had a wallet address and an XRP tag number which mine did not. I even sent them a screenshot of it showing no need for the XRP tag when I pulled up the deposit form on their site. They proceed to tell me they can not put the currency that I transfered to their wallet in my XRP wallet when this was NOT my fault in ANY WAY!!! This is a fault with their site and DEV team letting people submit transfers without their system being fully operational and in no way did it say any tag requirement when I made the transfer and I have proof of that. They need to fix this or I will be pushing the issue legally as this was NOT MY FAULT because their site was not fully functional since implementing their new XRP support wallet!
Company Response:
State: TX
Zip: 78245
Submitted Via: Web
Date Sent: 2019-03-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-03-04
Issue: Money was not available when promised
Subissue:
Consumer Complaint: Date : XX/XX/19 Amount : {$400.00} Company : Coinbase Action Taken : Funds originally placed on hold for 16 days Called to get the hold reduced ( since my funds already cleared bank account ) Coinbase increased hold to 26 days Multiple tickets have been opened ( # XXXX, # XXXX, # XXXX, # XXXX ) I have ACH trace numbers and proof that the funds cleared. Per Coinbase : " Deposits are placed on a temporary hold while we wait for the transfer to clear ''
Company Response:
State: VA
Zip: 201XX
Submitted Via: Web
Date Sent: 2019-03-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-02-21
Issue: Money was not available when promised
Subissue:
Consumer Complaint: Coinbase.com represented on their website, and app, that a money transfers take 3-5 business days to complete before funds are available to transfer out ( such as transferring to another cryptocurrency exchange ). After I submitted the money transfer ( on XX/XX/XXXX ) I received a confirmation email stating the funds will not be available to transfer until XX/XX/XXXX. That's 13 business days ( 17 calendar days ). They misrepresented the time scale by almost double. Locking up my funds, past an important date for a specific crypto investment I was going to make at another crypto exchange.
Company Response:
State: CA
Zip: 956XX
Submitted Via: Web
Date Sent: 2019-02-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-02-14
Issue: Money was not available when promised
Subissue:
Consumer Complaint: I had an account with XXXX XXXX ( part of Coinbase ) and had {$10000.00} in my XXXX XXXX account when, on XX/XX/18 they notified me via email that they were closing my account. They stated that I need to withdraw my funds from my account, but I was unable to login to my XXXX XXXX account to do so. This case did not involve digital currency at all, simply a USD wire I sent from my verified XXXX XXXX XXXX account that has not been returned. I called Coinbase 's customer support line and described how I was unable to withdraw my funds from XXXX XXXX, and asked to speak with a representative with XXXX XXXX. They stated that XXXX XXXX had no customer support phone number, but that they would assign a specialist to my case and due to the nature of my issue, they were going to " escalate '' my case for quicker response. They told me I should expect an email from XXXX XXXX " within 5-7 business days '' to work with me to resolve the case. I then received an automated email right after the phone call stating that they have opened the ticket for my case. After about 2-3 weeks, I had no calls or emails to follow up on the case, so I called again and emailed again and they said again that it was escalated and awaiting response by specialist and sent another automated email each time. For the next 6 or so weeks I repeated this and still got the same response and no resolution. It has now been 57 days since my account closure with no contact with a representative to send my funds back to my account. I think this is an unacceptable treatment of a customer. I have attached my email correspondence with Coinbase Support since my XX/XX/18 account closure notice.
Company Response:
State: TX
Zip: 75205
Submitted Via: Web
Date Sent: 2019-02-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-02-14
Issue: Other service problem
Subissue:
Consumer Complaint: On XX/XX/XXXX, I received form XXXX from Coinbase, Inc. and the form shows excessively inaccurate transactions proceeds of {$770000.00} for the year of XX/XX/XXXX. My own records for all sales proceeds in XX/XX/XXXX only add up to about {$110000.00}. I also used the reporting service from a company named XXXX XXXX, which is contracted by Coinbase itself, to get an official tally of all my XX/XX/XXXX transactions. Their reported gross short term proceeds for XX/XX/XXXX from my Coinbase Pro is {$110000.00}. I immediately contact Coinbase customer service department and they told me I need to submit my complaint via email. I did so and got a case # XXXX. About a week later, the case got closed with no solusion offered. I opened another case # XXXX, and I was informed that my case had been forwarded for review. A few days later, I got a notification that the case has been resolved, but did not specify how, and what I would receive from the company. Therefore, I had to open the third case # XXXX on XX/XX/XXXX. On XX/XX/XXXX I received a similar notification like the last time stating that the issue had been resolved and the case was now closed, and nothing further could be done. After the third attempt, I didn't know what to do because their customer service representative will not discuss about my tax form over the phone, and submitting request for review of my transactions via email didn't take me any where. I would really appreciate if you can help get the company to respond to my complaint, because I have been losing sleep and very stressful because I'm afraid this will create a big problem for me with IRS. Thanks, XXXX
Company Response:
State: CA
Zip: 92708
Submitted Via: Web
Date Sent: 2019-02-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-01-25
Issue: Managing, opening, or closing your mobile wallet account
Subissue:
Consumer Complaint: On XX/XX/XXXX I funded a bitcoin wallet with Coinbase from my checking account and purchased XXXX bit coins. In XXXX I tried to access and close account and was unable to as I was unable to reset my password. I reached out to Coinbase support by email as that was their only method of communication and did not receive a response. When I tried to access my account in XXXX I no longer had the same email and phone number that was used to set up the account. This created issues with completing a self reset, which according to customer support is the only way to reset a password due to fraud. They had me go through a account verification process where I had to open another account, then provide my ID and Pic of myself captured from my mobile device. I was informed once I had provided them all this information they would be able to change my phone number and email address so I can self reset my password and get access to my account. This attempt was unsuccessful after completing the steps they had provided. I called again today XX/XX/XXXX and they wanted me to go through the exact same process which was unsuccessful previously. The value of bitcoin dropped significantly after XXXX and so I have lost money as a result of them holding onto my funds. I have engaged an attorney to help me collect my funds.
Company Response:
State: OK
Zip: 74135
Submitted Via: Web
Date Sent: 2019-01-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-01-21
Issue: Fraud or scam
Subissue:
Consumer Complaint: for about a year now plus, ive emailed to get a reply ( emails not accepted ) then gives me a oimk to a bot. if you guys were coinbase.com and lets be honest if i go XXXX ya mihht not likr ut you know would you imagine they do too? guys remember when bitcoin was like XXXX ever since then guys you know anyone who forgot their gmail password and forgot what email address was the reserve. i assume if your coinbas it happens often and guys with my email address dnt ya think i can vlose them go nat sec and next but honestly who and what would learn from that? guys i even told them i dont know if ya have XXXX XXXX but i got the google video on mine you can compare what you aee with the pic i took holding my id to open the acct and nada. ya i told XXXX but earlier tnite and no worries i aint telling them i told you. you know the theory behond a bank cant legally hold anyone from their acct cause its my cash? they dnt even give you an acct number but i even offered to tell them last time deposit into what acct from what acct and how much nada guys i wanted out when bitcoin was XXXX and since then coinbase has held me from my money what brokerage that happen? and i ber they go today well transfer his cash ya when my securities aint wortj nada no way if yo youre not the only dc dotgov ive informed if ya dnt fix it congress gon na love all you us federal court of claims!
Company Response:
State: NY
Zip: XXXXX
Submitted Via: Web
Date Sent: 2019-01-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-01-17
Issue: Other transaction problem
Subissue:
Consumer Complaint: Coinbase had froze my account do to a security breech on there end. I asked that they take all unauthorized purchases off my account. However, I said I wanted to keep ( make final payment on the coins. I had bought them at {$80.00} per coin. coon after they went up in value. I contacted coinbase to get a number on the amount owed. I also needed to transfer bank accounts. I was told a supervisor would call. they did and nothing was done. the next day I see coins that where not there before. At this point, I call coinbase to inform them my account was compromised. they freeze my account with over 80k. XXXX paid off with the profits realized by coin appreciation. They said they would take care of the issue and reinstate my account. they did nothing. just let the system reclaim the coins without letting me pay. I asked then to hold the coins I had purchased.. they returned the account with {$600.00} left. I am getting nowhere with them. they will not do anything to help resolve this issue. I am furious that a company can get away with this type of scam with impunity.
Company Response:
State: NJ
Zip: XXXXX
Submitted Via: Web
Date Sent: 2019-01-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A