COINBASE, INC.


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"Products" offered by COINBASE, INC. with at least one, but usually more complaints:

Bank account or service - Other bank product/service
Checking or savings account - Checking account
Checking or savings account - Other banking product or service
Checking or savings account - Savings account
Credit card - General-purpose credit card or charge card
Credit card or prepaid card - General-purpose credit card or charge card
Credit card or prepaid card - General-purpose prepaid card
Credit card or prepaid card - Gift card
Credit reporting or other personal consumer reports - Credit reporting
Credit reporting, credit repair services, or other personal consumer reports - Other personal consumer report
Debt collection - Credit card debt
Debt collection - I do not know
Debt collection - Other debt
Money transfer, virtual currency, or money service - Debt settlement
Money transfer, virtual currency, or money service - Domestic (US) money transfer
Money transfer, virtual currency, or money service - Foreign currency exchange
Money transfer, virtual currency, or money service - International money transfer
Money transfer, virtual currency, or money service - Mobile or digital wallet
Money transfer, virtual currency, or money service - Money order
Money transfer, virtual currency, or money service - Refund anticipation check
Money transfer, virtual currency, or money service - Traveler's check or cashier's check
Money transfer, virtual currency, or money service - Virtual currency
Other financial service - Foreign currency exchange
Payday loan, title loan, or personal loan - Installment loan
Payday loan, title loan, or personal loan - Pawn loan
Payday loan, title loan, or personal loan - Personal line of credit
Payday loan, title loan, personal loan, or advance loan - Pawn loan
Prepaid card - General-purpose prepaid card
Prepaid card - Mobile wallet
Virtual currency - Domestic (US) money transfer
Virtual currency - International money transfer

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Complaint ID: 3122361

Date Received: 2019-01-11

Issue: Money was not available when promised

Subissue:

Consumer Complaint: Currently I have 3 Bitcoins valued over $ 10k stuck in Coinbase, I contacted support half a dozen times and at first they told me I needed to upload identity verification documents, I did so, my account was still restricted, I continued to contact them, a few times I never even received a response from them. Then on XX/XX/XXXX-18 I get a response telling me Coinbase has NOT blocked access to MY funds, but only that I can not buy or purchase, that is false. I still could not withdraw or send my BTC out from Coinbase, even after being advised by them that I can, I have an email to prove it, the only thing that has changed since then is Coinbases decision. So I contact support again and they respond by telling me I can no longer use Coinbase. Now my funds are stuck there indefinitely, please advise, thank you

Company Response:

State: SC

Zip: 29651

Submitted Via: Web

Date Sent: 2019-01-11

Company Response to Consumer: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A


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Complaint ID: 3114158

Date Received: 2019-01-02

Issue: Fraud or scam

Subissue:

Consumer Complaint: Coinbase has several wallet types and they accept different crypto tokens. They have terms saying that it is important not to send crypto from a token from one wallet or exchange into a wallet or token different then the one you are sending from. In my case, I sent a token called XXXX to the coinbase BTC wallet. This transaction was allowed to go through however because the wrong token type was sent, the funds did not show up in my account. I understand their terms however they do have the ability with the private keys to reverse this transaction. There are complaints all over the internet. Im not certain of this but I assume they are essentially keeping the incorrectly sent funds. In my case it was {$7000.00} that I can not receive but they have. That doesnt make sense. This type of transaction should not be able to processed if it can not be received. I hope to fine resolution to this but Im doubtful. They are capitalizing off of peoples honest mistakes. Please help. XXXX XXXX

Company Response:

State: TN

Zip: 372XX

Submitted Via: Web

Date Sent: 2019-01-02

Company Response to Consumer: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A


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Complaint ID: 3112869

Date Received: 2018-12-30

Issue: Money was not available when promised

Subissue:

Consumer Complaint: Put an order through coinbase. Coinbase put a 9 day hold on my transfer. I called them before transaction went through and they said I could not cancel. The digital asset in question has yet to be rendered to me and refused to cancel my order and said they would take the money out of my bank anyways. They said there was no way to cancel an order. They just take your money and give you the asset when it is worth far less.

Company Response:

State: TX

Zip: 787XX

Submitted Via: Web

Date Sent: 2018-12-30

Company Response to Consumer: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A


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Complaint ID: 3102850

Date Received: 2018-12-17

Issue: Money was not available when promised

Subissue:

Consumer Complaint: On XX/XX/XXXX, I emailed Coinbase to follow up about a balance transfer of any bitcoins from my old account to my new account. They responded on the same day saying they will process and follow up. I didnt hear back, so I contacted them on XX/XX/XXXX. On XX/XX/XXXX I followed up to see if there was any progress. They responded back and said that the issue has been escalated and a review will typically takes 5-7 days, after that they will confirm that my issue has been resolved. I did not hear from them. I reached out today, this time with a phone call, and was told Coinbase was backed up. The representative also said she placed my issue as high priority. This has been happening for a few months and I dont know how much bitcoin is in my account now.

Company Response:

State: NC

Zip: 27320

Submitted Via: Web

Date Sent: 2018-12-17

Company Response to Consumer: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A


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Complaint ID: 3101658

Date Received: 2018-12-15

Issue: Other transaction problem

Subissue:

Consumer Complaint: YOUR COMPLAINT On XX/XX/2018 I withdrew USDT from my XXXX account and transferred it to Coinbase. I should have changed the coins back to XXXX before transferring, I know it was my mistake. It was {$9200.00}. I contacted XXXX and they said there was nothing they can do because the funds left there and went to a coinbase address. I contacted coinbase and here is the response I got back from them. Good day! Thanks for hanging in there while we investigated this case. Prior support personnel were correct in their assessment. Under no circumstances is anyone encouraged or allowed to send digital currency that is not accepted by Coinbase, as these funds will be not be capable of being retrieved. For more info feel free to peruse here. XXXX XXXX XXXX XXXX My apologies that there isnt more we can do. Have a great day, and thanks for using Coinbase! XXXX Coinbase Support I contacted USDT XXXX ( the coins I sent ) and they said they would work with Coinbase on retrieving the funds. This is the response I got from tether who said they would help, but coinbase still refused to pull back the funds. Dear Coinbase support, I have unfortunately accidentally transferred XXXX USD to my Coinbase address XXXX Unfortunately while you may not directly support these funds they are still now owned/controlled by this address you control. The XXXX team is more than willing to work with you on the recovery process if you will work with them. Can you please reach out to their representative at XXXXto for additional information on how to recover and return the funds. OnXX/XX/2018 at XXXX PDT XXXX wrote : I sent USDT from XXXX to Coinbase by accident. How do i get my money back to XXXX? address : XXXX XXXX XXXX XXXX XXXX Sincerely, XXXX XXXX

Company Response:

State: MN

Zip: XXXXX

Submitted Via: Web

Date Sent: 2018-12-15

Company Response to Consumer: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A


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Complaint ID: 3100720

Date Received: 2018-12-14

Issue: Other transaction problem

Subissue:

Consumer Complaint: On XX/XX/2018 I received an email from from Coinbase telling that my purchase for 1 ETH placed on XX/XX/2018 was reversed by my bank. This was in the amount of {$620.00}. This amount was deducted from my Coinbase account which left my account with a negative balance. I immediately paid this negative balance of {$620.00} to keep my account in good standing. I also called my bank ( XXXX XXXX ) to ask why this reversal was initiated because I did not request a reversal. XXXX XXXX told me they did not request a reversal and don't have any record of this request being made. I have yet to receive this reversal back to my XXXX XXXX account even though it was deducted from my Coinbase account. This reversal caused my Coinbase account to be suspended. During this time I had 3 pending transactions going from my XXXX XXXX account to my Coinbase account. 1 in the amount of {$420.00} placed on XX/XX/18, 1 in the amount of {$420.00} placed on XX/XX/18, and 1 in the amount of {$500.00} placed on XX/XX/18. All 3 of these pending transactions were canceled by Coinbase. All this money was deducted from my XXXX XXXX account. It was never returned to me. With each of these transactions I received an email from Coinbase stating that the money will be returned to my bank within 3-4 business days. It never was. Neither was the mysterious reversal for {$620.00}. There was another canceled pending transaction that was sent from my Credit Union not my XXXX XXXX account that I did get back. That one was in the amount of {$1500.00}. I'm mentioning this one so the emails I've attached make sense. I don't have any issues with the {$1500.00} cancellation. It's been credited. I spent several hours between phone calls and detailed emails trying to explain my situation to Coinbase. Phone calls were escalated to a specialist. Then I would wait over a month to get a reply. When I did get a reply I was told to try calling again in 60 days. After 60 days I was told to call again in 30 days. Nobody would look into the problem and try to fix it. In the end I received an email telling me to file a claim with my bank. I contacted XXXX XXXX on XX/XX/18 to see if they can help me. I called today for an update from XXXX XXXX and their answer was they are still waiting on Coinbase to get back to them. This was on XX/XX/18. I have yet to see any of this money sent back to my XXXX XXXX account. I have detailed emails and bank statements that can easily back up my complaint. Coinbase owes me {$1900.00} and I don't know how to get this money back. I'm really hoping you can help me out. Thank you for any help with this.

Company Response:

State: MI

Zip: 481XX

Submitted Via: Web

Date Sent: 2018-12-14

Company Response to Consumer: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A


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Complaint ID: 3098154

Date Received: 2018-12-12

Issue: Other service problem

Subissue:

Consumer Complaint: Hello, Why my referral is ineligible? We checked all your Terms and Condition! We met them all, both account met all conditions! Please credit me and the person I refereed to each {$10.00} investigate and escalate the matter! We need to get what we were promised and offered! thanks

Company Response:

State: NY

Zip: 11230

Submitted Via: Web

Date Sent: 2018-12-12

Company Response to Consumer: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A


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Complaint ID: 3085833

Date Received: 2018-11-28

Issue: Money was not available when promised

Subissue:

Consumer Complaint: Transferred {$3000.00} on XX/XX/XXXX online from XXXX checking account to CoinBase a Crypto Currency company based in XXXX XXXX, Ca. On XX/XX/XXXX or XX/XX/XXXX CoinBase sent me an email informing me there was suspicious activity on my account and my account would be frozen for 3 to 5 days. The next day I got an email from them informing me my account would be frozen for 30 days ( calendar days not business days ) I was told by the phone rep of Coin Base. I have called them about 5/6 times for clarification and their phone reps were unable to offer any information about why or for how long my account would be frozen I informed them on one of these phone calls I want to close out my account and to send me my money back They said my account was frozen and they can not give me my money back until it is unfrozen. Yesterday, XXXX XXXX I was able to talk to a CoinBase supervisor and he informed me that my account would be unfrozen on XXXX XXXX. HE said that the amount of time my account was frozen was totally wrong and he would do his best to rectify my problem. He said he should have an answer for me by close of business XX/XX/XXXX ( yesterday ) I contacted him by email today XX/XX/XXXX to inform him of his not rectifying the problem and have not heard back from him I feel CoinBase has been less than honest or fair with me in this problem and I would like to file a formal complaint against them Thank you

Company Response:

State: NY

Zip: 11743

Submitted Via: Web

Date Sent: 2018-11-28

Company Response to Consumer: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A


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Complaint ID: 3078997

Date Received: 2018-11-20

Issue: Managing, opening, or closing your mobile wallet account

Subissue:

Consumer Complaint: I am not able to withdraw my funds and close the account. I get error message and XXXX refuses to address the issue. I have too many emails to the executives of the company to attach as well as to the help desk.

Company Response:

State: FL

Zip: 33020

Submitted Via: Web

Date Sent: 2018-12-07

Company Response to Consumer: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A


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Complaint ID: 3078843

Date Received: 2018-11-20

Issue: Money was not available when promised

Subissue:

Consumer Complaint: I've verified my information multiple times - but they are restricting my money and not letting me access my acount or funds. It has been ongoing for 3 weeks now. They also will not give me an explanation of why they have restricted my account.

Company Response:

State: TN

Zip: 37167

Submitted Via: Web

Date Sent: 2018-11-20

Company Response to Consumer: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A


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Select another page to read more about how -real people- receive -real harm- from these banks, credit bureaus, and others.