Date Received: 2023-05-24
Issue: Money was not available when promised
Subissue:
Consumer Complaint: Coinbase has locked my account and not allowed me to withdraw my funds. This started over a month ago and I have been trying for 2 weeks to remove my cash from their system. Their support team has stalled and when pressured by posting to an online forum for Coinbase, simply reached out to me to say my account is still locked without providing any explanation. I have tried contacting them by phone but they said that the only way for it to be unlocked is through email. They are delaying as much as they can and I feel like they are going to continue saying the same thing. Please help me withdrawal my money from them!
Company Response:
State: CA
Zip: 941XX
Submitted Via: Web
Date Sent: 2023-05-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-23
Issue: Fraud or scam
Subissue:
Consumer Complaint: Around XX/XX/2021, I fell victim to two multi-layered scam operations run by XXXX which involved me making deposits for a total amount of XXXX USD from my Coinbase account to fraudulent investment firm ( s ).
Company Response:
State: AZ
Zip: 85044
Submitted Via: Web
Date Sent: 2023-05-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-24
Issue: Other transaction problem
Subissue:
Consumer Complaint: Complaint against XXXX XXXX XXXXXXXX. Claim number XXXX and XXXX Against XXXX XXXXXXXX XXXX Customer Advocate XXXX XXXX XXXX XXXX XX/XX/XXXX. XXXX This is his email. Against NJ banking and Insurance XXXX XXXX XXXX DOBI ) on XX/XX/XXXX. XXXX XXXX. XXXXXXXX XXXX XXXX XXXX Her email is XXXX XXXX Coinbase support case number XXXX on XX/XX/XXXX. XXXX from Coinbase Customer complaint officer ( XXXX ) have responded back to me that he also got a complain letter from NJ Banking and insurance and will resolve the issues directly with DOBI and he closed a case on me. Dear Sir or Madam : I am a victim of fraud from Coinbase wherein my money was taken by Coinbase through a wire transfer from XXXX XXXX XXXX. Money was sent from my XXXX XXXX XXXX personal checking account. On XX/XX/XXXX for {$55000.00} On XX/XX/XXXX for {$25000.00} On XX/XX/XXXX for {$50000.00} Total of {$130000.00} I initially filed a fraud complaint against XXXX XXXXXXXX XXXX with the New Jersey Department of Banking and Insurance. Upon investigation by the NJ Division, it was proven by XXXX XXXX XXXX that MY MONEY WAS TRANSFERRED BY WIRE TO COINBASE. I also have proof to show that Coinbase has received the funds. However, I have requested Coinbase to return my funds and Coinbase is fraudulently holding my monies and is refusing to return the amount of {$130000.00} deposited by a wire transfer. The funds were wired : My account is with XXXX XXXX XXXXXXXX. From XXXX XXXX XXXXXXXX, I transferred the funds to XXXX XXXXXXXX XXXX which holds the funds for Coinbase. In sum, I am a victim of fraud either from XXXX XXXX XXXX or Coinbase or the XXXX XXXXXXXX XXXX ; they are playing the blame game with me and I am getting nowhere. I respectfully urge a full investigation of the fraud which is being perpetrated upon me in this matter. I can be reached at XXXX XXXX XXXX. Please feel free to contact me if you need any further information. Thank you for your help and cooperation.
Company Response:
State: NY
Zip: 11375
Submitted Via: Web
Date Sent: 2023-05-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-19
Issue: Managing, opening, or closing your mobile wallet account
Subissue:
Consumer Complaint: On XX/XX/23 my son XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXX/XX/XXXXin XXXX XXXX XXXX in CA. He was XXXX, XXXX children, and had less assets that required probate. He had an investment in crypto with Coinbase. Their customer service number has 5 options, the first 4 didnt fit so I selected 5-which disconnected me after giving me their website. I have chatted with numerous agents online and have provided them with all documentation they required-including me having to open my own Coinbase account. They needed a probate form notarized, selfie, d/c, my DL and a statement to transfer his funds into mine. That was over a month ago. Meanwhile they hold my sons assets XXXX and he has lost over {$2000.00} while I continue to wait. I contacted Congressman XXXX XXXX who recommended your agency and the FTC. This has been extremely difficult as I try to deal with his affairs while in total grief. He was my XXXX child and I am heartbroken. Thank you for any assistance.
Company Response:
State: CA
Zip: 950XX
Submitted Via: Web
Date Sent: 2023-05-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-18
Issue: Managing, opening, or closing your mobile wallet account
Subissue:
Consumer Complaint: I can not transfer funds out of my Coinbase account in spite of spending 1-2 hours on chat lines and dealing with multiple representatives. They are now employing the " Plaid '' system. I've had problems with Plaid so I'm not suprised that this very flawed money transfer system is not performing as advertised. XXXX Coinbase says it can transfer the money into my XXXX brokerage account it does not link -- and my XXXX account says that it is set up to receive a money transfer from Coinbase. I transferred money into Coinbase using my checking account but their system won't allow money from my Coinbase account back into the very same checking account from which the Coinbase account was funded. I get nothing but boilerplate responses from Coinbase 's representatives but my money appears to be locked in Coinbase and I can not get it out and they are doing nothing to assist me in a useful way.
Company Response:
State: VA
Zip: 23139
Submitted Via: Web
Date Sent: 2023-05-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-18
Issue: Fraud or scam
Subissue:
Consumer Complaint: Commencing on or around XX/XX/2023, I fell victim to a multilayered scam operation orchestrated by XXXX XXXX the Company ), which involved me making deposits for a total amount of XXXX ETH from my Coinbase account to a fraudulent investment firm.
Company Response:
State: VA
Zip: 201XX
Submitted Via: Web
Date Sent: 2023-05-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-15
Issue: Other transaction problem
Subissue:
Consumer Complaint: I invested a large amount of money at coinbase on XXXX from XXXX. When I went to sell my stock, I could not find the sell icon. I reached out to coinbase on XX/XX/23, and its assistance told me my stock was staked which I didn't know what that meant. I also told this person I never authorized it, she said it was done automatically. She walked me through unstaking the item but the system told me it would take up to 23 days to clear so I can sell XXXX stock, and she assured me in 48 hours it would clear. 23 days has come and gone and my investment is no where to be found. The company keeps telling me they are aware of the issue and are working to resolve it, but I think they are not being truthful about my investment.
Company Response:
State: PA
Zip: 190XX
Submitted Via: Web
Date Sent: 2023-05-15
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-14
Issue: Money was not available when promised
Subissue:
Consumer Complaint: This complaint against Coinbase Inc. results from a fraud/scam and the Company 's non-reimbursement to date of the lost {$6800.00} under my Account Protection Plan and other issues. The facts and claims follow : Subject : Coinbase Case XXXX XXXXXXXX Fraud/scamming report After discarding my XXXX for a new one in XXXX, I spent several days trying without success to access my Coinbase ( CB ) account. Unable to find a Customer Help telephone number on the CB website, I discovered the phone number XXXX for CB Customer Help on the XXXX XXXX. On XX/XX/XXXX, I called that number and spoke to a " XXXX XXXX '' who identified himself as a CB employee who could help restore access to my blocked account. As with services such as XXXX XXXX, he asked for and received remote access to my account. Over the next several days he and his colleagues " XXXX '' and " XXXX XXXX '' spent countless hours up to and including XX/XX/XXXX, purportedly attempting to repair my authenticator connection and restore access to my CB account. In that process they ( or possibly someone else ) withdrew from my XXXX XXXX XXXX ( XXXX ) checking account without my knowledge or consent and transferred into my Coinbase account the sum of {$2000.00} on XX/XX/XXXX and {$3000.00} on XX/XX/XXXX. On that latter date, " XXXX '' tried to persuade me to authorize a transfer from my XXXX account to CB the sum of {$25000.00} ( which he promised would be promptly returned to my checking account ). His stated purpose was to use that transfer as a " decoy '' to catch a hacker, who he said was hacking my account. At that point, I realized that the three " CB officers '' were in fact fraudulent hackers and scammers. In speaking with a real CB Customer Help officer ( XXXX ) on XX/XX/XXXX ( I only found her telephone number through a long series of chats the night before on the CB website ), I learned that the sum of {$6800.00} ( the entire amount of my CB holdings ) had been withdrawn without my knowledge or consent from my CB account and transferred to an unknown wallet. During the 7 or so days that the fake CB employees were " trying to restore my account, '' they made numerous calls to me from their phones as follows : XXXX : XXXX XXXX ( XXXX, NJ ) XXXX : XXXX XXXX ( XXXX XXXX XXXX, FL ) XXXX : XXXX XXXX ( XXXX XXXX, FL ) In the days following XX/XX/XXXX, XXXX has made many calls to my home from telephone number XXXX apologizing for my loss and offering to help me recover it. I refused to engage him in conversation. Further to the incident description above, Coinbase has : 1. Blocked my account, claiming that I owe the company {$5000.00} for what they call " excess balance '' and " reverse bank transaction. '' 2. During the two months since my claim for reimbursement, the Coinbase Account Protection Plan for which I am billed {$29.00} per month, has neither reimbursed me for the $ XXXX that I lost in the fraud/scam nor confirmed that it will reimburse that sum within a reasonable time 3. Without my permission and consent, Coinbase has made successive withdrawals from my account towards paying the {$5000.00} that they say I owe, leaving me with only XXXX cents in the account. 4. Coinbase charged me the {$29.00} Coinbase One membership fee ( which provides transaction fee discounts and account protection ) to my XXXX bank account during XXXX and XXXX, when I had no access to my account. Accordingly, I demand : 1. Reimbursement of my loss ( $ XXXX ) under the Coinbase Account Protection Plan to which I am entitled under Coinbase One membership. 2. Retraction of Coinbase 's illegitimate demand that I pay them the {$5000.00} ( less the amount of {$1.00} that they withdrew from my account with consent ). 3. Reimbursement of {$89.00} the amount they have charged me for Coinbase One membership during the three months that my account has been blocked. Summary Coinbase Inc. has not paid the amount of my fraud/scam loss of {$6800.00} ( which is covered by my Coinbase One Account Protection Plan ) ; it has taken funds from my Coinbase account without my consent ; it is alleging that I, victim of the fraud/scam must pay {$5000.00} ( less the amount taken from my account ) on the unsupported grounds of " reverse bank transfer '' and " excess balance ; it has blocked my account since XX/XX/XXXX, the date of my reported fraud/scam ; it has continued to bill me for the {$29.00} monthly fee despite my lack of access to any of the benefits of that subscription ; it has cost me the historical gains of the coins held in my account ; and it has deprived me of the profits I could have made given the substantial increase in bitcoin value ; and it has cost me ( age XXXX ) severe mental distress over the past two plus months ( which is continuing ). Given the facts of the fraud/scam, it appears that the criminals may have had some attachment to Coinbase or its employee ( s ) in order to obtain access to my account. I could not have given anyone access to my account because I had no access to it myself. After the California State Attorney General 's office notified Coinbase of my complaint, the Company blocked my telephone access to both the Coinbase Customer Service and Security phones. Also, after I reported the scam/fraud on XX/XX/XXXX, Coinbase changed its fraudulent telephone number on XXXX to a correct one.
Company Response:
State: MA
Zip: 026XX
Submitted Via: Web
Date Sent: 2023-06-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-13
Issue: Fraud or scam
Subissue:
Consumer Complaint: I was offered to start a trading/investment by a guy named XXXX XXXX who found me at XXXX in a XXXX forum group page and I opened an account at his company named XXXX - XXXX on XXXX XXXX. He described himself as an investment manager who can guide me to invest successful with 99 % chance of making a minimum of {$10000.00} per week if I open an account and deposit a {$1000.00} and follow his instruction. I checked the website of the company I did some research and I decided to give it a try. I opened my account with them, and I deposited the amount of {$1000.00} dollars and after that the suspicious things started when he told me that after the deposit of the {$1000.00} I have to deposit another {$700.00} in order to buy a Bot so I can start trading and earning. After a little arguing I followed his instructions and I deposit the amount of {$750.00} because he told me that if I do not buy this Bot I am not be able to start trading. After that the trading started. After a 5 days of trading I had Earning amount of {$71000.00} and he told me that Iam able to make a withdrawal. On Monday, XX/XX/XXXX he send me a message on the XXXX application where we mostly communicate and notify me that in order to make a withdrawal I need to pay XXXX upfront a 20 % deposit of the total earnings so I can be able to withdrawal money or otherwise I am not able to withdrawal because that is the company policy! We started arguing again because he never told for such a thing before and I started to be suspicious again that something is not ok. He started to assure me that everything will be ok and promised me that when I make the deposit of {$14000.00} I can withdraw all the money in the account. Then I contacted the Customer Service Support from the official website of the company XXXX ( XXXX XXXX XXXXXXXX ) I logged in my account and asked them to explain and they confirmed that same thing as him - The company policy says that In order to do a withdrawal I need to deposit 20 % of my earnings upfront so they can approve the withdrawal and proceed. After arguing with them also the Customer Service Support of XXXX assured me that If I deposit the asked amount of 20 % - {$14000.00} they will approve my withdrawal and I will be able to withdraw all of the money in the account. I decided to withdraw {$70000.00} and leave my first deposit of {$1700.00} remain in the account and continue trading with them after the withdraw. The manager XXXX XXXX assured me again and promised me that after I make the deposit I will receive my {$70000.00}. He assured me all over and promised me again that the company XXXX and Customer Service Support never cheat and I will be able to withdraw all the earnings to my bank account without having to pay anymore money at all! They were not quite sure if I will be able to withdraw if I deposit less amount then the {$14000.00} so I can get just a part of the earnings and not the full amount. That was not feel ok for me and started to be more suspicious because {$14000.00} is a lot of money! Then I decide to try with Deposit for just the part of the full Deposit amount and I did deposit {$2000.00} so I can see if they will approve it. They did not approve my withdraw and they asked for the full deposit amount of 20 % - {$14000.00}. After all the assurance from the Customer Service Support of XXXX and also the assurance and promises of XXXX XXXX that when I deposit the {$14000.00} and they approve the withdraw I will receive the full amount of {$70000.00} WITHOUT BEEN ASKED FOR MORE MONEY in order to receive my earnings from XXXX I decided to do it and I deposited the {$14000.00}. After that XXXX approved the withdraw and I started to do it from my XXXX account. There were a few options for the withdrawal on the XXXX website - XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX. I choose the option for a Bank transfer withdrawal and put all of the information and send the request for withdrawal and at the same time I have been in touch with XXXX XXXX instructed me how to proceed with the request for the withdrawal. I asked him how long it will take in order to finally receive the money into my bank account and he assured me it will take no more then XXXX hours. The request was approved on XX/XX/XXXX and I started waiting to receive my money as suggested. After a long waiting at XX/XX/XXXX he massaged me that I need to deposit another {$8400.00} to my XXXX account because the bank that they are using to do my bank transfer is asking for money to cover Authorize fee of {$5100.00} and Maintenance fee of {$3100.00} - total of {$8400.00} in order to finish the transfer to my bank account. I received some kind of email pretending to be an official bank agent that was looked to me very suspicious and with a lot of mistakes. Then someone from that bank contact me via XXXX and tried to explain to me that they made the transfer to my bank but it failed. And all that is happening after hours in the middle of the night and it was even more suspicious, I decided to wait until my bank is open and go check with them. I went to my bank showed them all the info and they suggest me that this is a potential fraud/ scam and I should report this to the XXXX law enforcement. I started shaking and I started arguing again with XXXX XXXX and I remind him that he and XXXX assured me and promised me that after I Deposit the amount of {$14000.00} I will receive my {$70000.00} and they will NOT ask me for more money! And than we continued to argue all over again for a few days what they promised and all that. He started to threaten me that I will lose all of my money if I did not deposit the additional amount of {$8400.00}. Then he changed that amount to $ XXXXAfter a few days he came up with a {$6500.00} .... I contacted the Customer Service Support of XXXX and asked them why they are not doing what they assured me, and they come up with " Well unfortunately the additional amount of {$8400.00} is needed in order to finish your bank transfer! I have asked them to at least return my Deposit for a total of {$16000.00} with all the fees but they are refusing. I have tried myself to withdraw my money, but it also failed! After a few days of research A friend of mine opened a account and thru her account we asked the Customer Service Support to expI lain how is their investment exactly works. We asked for all the options to withdraw money and they assured us that for a bank transfer there is a 50/50 chance for a 12 % additional fee of the total amount which fee is for the bank! That was making sense for me after I calculated my amount it was exactly what theyre asking for and I decided to pay that amount! Then after my payment of the additional {$8400.00} they All assured me that they are working on my bank transfer and after a few hours they come up with additional fee of {$3100.00} blaming me for some delay! After arguing again All of them assured me that this is the final fee and after I pay it I will receive my money in 45 minutes! I paid the additional and final fee of {$3100.00} and All of the them assured me that they are working on my bank transfer and after the 45 minutes they bank agent told me that the transfer has been made! They promised that they will send me a confirmation but they never did! That was during the weekend and mostly night time and middle of the night because if I believe them the are located in XXXX, XXXX and they are different time zone of 5 hours ahead from XXXX! Nothing happened until next day afternoon and they come up again with additional fee for a delay of a {$2300.00}! So after every other of my few payments that I did they were coming up with more and more and that was looking that will never end! So far the whole amount that I deposited is {$27000.00}! And since Sunday they official website is not accessible from different computers, phones that I have tried! I could not sleep for days now, and I am not able to work. I have all the chats with XXXX XXXX and XXXX Customer Service Support and the bank agent, that prove all I am saying here, screen shots, transactions, account details, they bank email and all that may be useful to help. Please help me. I am divorced and I have XXXX boys to take care of! Thank you
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2023-05-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-12
Issue: Unexpected or other fees
Subissue:
Consumer Complaint: Coinbase attempted to dissuade and divert me from receiving a refund for a service I did not sign up for, 'Coinbase Pro '. I wanted to receive my cryptocurrency transactions to file my taxes in a way which was easily readable and ready to upload for websites such as XXXX and XXXX. Coinbase put this particular report, which I am very sure they knew was a required format for those sites, behind a paywall, the aforementioned 'Coinbase Pro '. I strictly used the user interface to be able to access this necessary report and found myself charged for two months of 'Coinbase Pro ' before I was able to get in contact with support, who initially attempted to divert the conversation away from a refund for those unauthorized charges and instead blame me for not removing my bank account. Upon mentioning the CFPB, Coinbase Support suddenly decided a refund WAS in order but that they would/could only refund it to my 'Coinbase account ', in effect keeping the unauthorized funds in their ecosystem even longer. Upon insisting that this wasn't acceptable as a means of returning funds, Coinbase had no offered alternative. There is clearly an intentional series of 'dark patterns ' in Coinbase 's user interface meant to obfuscate and divert customers from removing Coinbase 's access to the user 's funds as well as to extract money from them in the form of hidden fees. Actually closing one 's account with Coinbase results in support being even less accessible and therefore recovering unauthorized funds additionally difficult for the company 's financial advantage.
Company Response:
State: IN
Zip: 47715
Submitted Via: Web
Date Sent: 2023-05-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A