Date Received: 2018-04-14
Issue: Fraud or scam
Subissue:
Consumer Complaint: Coinbase somehow lost my money and locked my acct Then my acct that have been linked were unauthorized charges and money in my Coinbase acts started being sent out with out my approval Then locking my acct and charging me fees and not getting back to me or letting me withdraw my money
Company Response:
State: MI
Zip: 49428
Submitted Via: Web
Date Sent: 2018-04-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-04-14
Issue: Money was not available when promised
Subissue:
Consumer Complaint: Dear CFPB Representative, On XX/XX/XXXX I initiated a transfer to my XXXX trading accountoperated and serviced by Coinbase , Inc, in the amount of {$2000.00} There was a disclaimer that the transfer could take up to 5 business days. On XX/XX/XXXX It was confirmed that my deposit was available. I tried to access my account for three weeks with an error upon login that finally turned to " You account has been temporarily suspended ''. I contacted Coinbase for the first time on XX/XX/XXXX ( Case # XXXX ) when my account still did not allow me access. I finally got a response onXX/XX/XXXXwith an email stating " Due to increased volume it may take several days to receive a response. '' I questioned the timeline of when my account would be reviewed and a decision granted and was told " these reviews are typically completed within 4-5 business days ''. After being ignored I contacted coinbase again of XX/XX/XXXX and was told by the rep that " Ive just checked your account and can confirm that your request has been properly escalated. '' I emailed again on XX/XX/XXXX, with the same response. I called the company directly with a 2 hour hold and the rep told me " If I told you an estimated time when your account would be reinstated then I would be lying '' I decided to wait a few more weeks. OnXX/XX/XXXX I need the funds for an emergency and contacted them that I will file a CFPB report if I my funds were not transferred back, and that I don't even want to patronize their platform any longer. I opened a new case as well ( Case # XXXX ) and revised the exact same response " Ive just checked your account and can confirm that your request has been properly escalated. ''
Company Response:
State: CA
Zip: 95660
Submitted Via: Web
Date Sent: 2018-04-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-04-13
Issue: Money was not available when promised
Subissue:
Consumer Complaint: A friend owed me money and wanted to pay me in Bitcoin. I accepted a created a Coinbase account to receive the Bitcoin. I created this account, received the Bitcoin, and made a bank account so I could attempt to withdraw the Bitcoin. They are holding my Bitcoin hostage until I am XXXX. Custom Service claims when I was signing up I was warned I had to be XXXX but I recall no such warning, and they let me sign up with the birthday XX/XX/XXXX. This birthdate would make me XXXX. I have {$230.00} in this account and by the time I turn XXXX in a year and a half it could be {$0.00}.
Company Response:
State: IN
Zip: 46033
Submitted Via: Web
Date Sent: 2018-04-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-04-13
Issue: Other service problem
Subissue:
Consumer Complaint: I have an account with Coinbase that was started with an email that I no longer have access to. This prevents me from having access to the account. I Called Coinbase support and had my ID verified with respect to this account. They told me they could retrieve it for me. I also have another account with coinbase with an email that I still do have access to, which would make this relatively easy. I was given a case number, # XXXX. However, this was more than 7 days ago, and there has been no follow up and when I call Support again they say there is no timeline to get back to me. So my complaint is I would like to be informed of a timeline to sole the issue.
Company Response:
State: CA
Zip: 94587
Submitted Via: Web
Date Sent: 2018-04-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-04-13
Issue: Other transaction problem
Subissue:
Consumer Complaint: On XX/XX/XXXX my Coinbase account was hacked and I believe {$7600.00} in US currency was sent from my account. This was in the form of litecoin and bitcoin. When I filed the police report the value at the time of the bitcoin and litecoin was approxiately {$9000.00}. I have attached a copy of the police report below. Coinbase has insurance but their insurance will not cover the loss due to the hackers getting through my password and 2-factor authentication. I have other insurance but have been unable to get much help from Coinbase. The additional insurance I have is through XXXX XXXX XXXX contracts with another company XXXX. XXXX is the one requesting the additional letter. I have spent numerous hours with coinbase over the past 4 months to try and get the appropriate documentation. During that time I have been able to get 2 emails that were not very official looking and did not contain the information that I was requesting. I have sent this information already to Coinbase but I will paste it here again. What I need is a letter stating what is pasted next. For Stolen Funds Loss reimbursement, the Subscriber must authorize the financial institution to provide certified documentation directly to us, signed by an authorized financial institution representative. This documentation must indicate that funds were fraudulently removed, the amount of the Loss, the type of the Loss suffered, and confirmation that funds are non- recoverable from the financial institution. Coinbase has made money from myself using this service and they also made money from the hackers sending out the money. I have tried to write to them to state that they should not have their accounts set up so that money can be sent to a remote location or at the very least put a three day hold on such a thing. This would stop something like this from happening. I feel the least they can do is write me a letter so that I can then try and deal with the insurance company. The contact information I have at XXXX is XXXX XXXX Property Claim Director XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, CA XXXX USA Direct : XXXX Mobile : XXXX Email : XXXX XXXX and XXXX XXXX Senior Claims Adjuster, Claims and Risk Services XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX IL XXXX USA Direct : XXXX Toll Free : XXXX Email : XXXX XXXX
Company Response:
State: GA
Zip: 30022
Submitted Via: Web
Date Sent: 2018-04-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-04-12
Issue: Other transaction problem
Subissue:
Consumer Complaint: From XX/XX/XXXX to XX/XX/XXXX, both my checking and savings accounts got unauthorized transactions over 9000 USD in total to an unknown person through coinbase.com platform, which is a website managed by coinbase, inc.. I never had any accounts with coinbase.com, never provided my account numbers and never approved such transactions.
Company Response:
State: TX
Zip: 78731
Submitted Via: Web
Date Sent: 2018-04-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-04-11
Issue: Other transaction problem
Subissue:
Consumer Complaint: Hi, 2 weeks ago I linked an account in order to make deposit on Coinbase. So I just sent XXXX euros and the day after my account was linked and the XXXX euros were on the account. The XX/XX/XXXX I did a XXXX euros deposit through the internet site of my bank ( who has coinfirmed that the money went through ) to coinbase account, but instead of doing it from the linked account I did a mistake and sent it from another one ( Which is also at my name ). I used the same code as the linked account to put as an information for the deposit. On their internet site they say that in such case the money would be refunded under 10 days. So far it has not been refunded. And since the XX/XX/XXXX, I am sending requests through their website, and I have got no answer. I thought I could try to link the account afterward but as the BIC ( Bank identifier Code ) number is identitical from the other one ( of course it is the same bank ), it won't let me do it, there is an error message. AS I thought I just had to wait for a refund and I'd get soon a reply to my request, I then sent again XXXX euros from the linked account the XX/XX/XXXX. Coinbase say on their internet site that for SEPA transfer from XXXX it takes 2 to 3 business days. But so far nothing. The worst is, as already said, you have absolutely no one from their customer service to reassure you and answer your requests in an normal delay, which should be the mnimum with this kind of money service. I am let totally in the dark. I am a XXXX citizen but as the customer service is only based in the US I have no other way than making a request through CFPB. Could you help me? Thanks
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2018-04-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-04-12
Issue: Other transaction problem
Subissue:
Consumer Complaint: In XX/XX/XXXX I had several fraudulent transactions from coinbase taken from my checking account which coinbase blamed XXXX and XXXX said it was coinbase. They were eventually reversed. OnXX/XX/XXXX I tried to buy bitcoin with my debit card and it kept saying charge denied so I left coinbase and went on XXXX to purchase without problems. Never tried anymore that day to purchase on coinbase. On XX/XX/XXXXI had a {$200.00} charge again on my checking. I thought it was fraud because the transactions kept saying denied so I disputed as I could not get coinbase to answer the phone or my emails. On XX/XX/XXXX I logged into coinbase and it said my account can not buy or sell bitcoin. I emailed right away and was told they would have a resolution in 5 days. Never ever got a response after an additional 5 emails. So let me get this straight, coinbase does fraud on millions of accounts and then after I dispute an unknown charge and my account is closed?? I want my account fixed as I have not done anything wrong. I also XXXX and hundreds of complaints on XXXX concerning coinbase. They need to get there act together and stop treating their customers like trash.
Company Response:
State: SC
Zip: 29483
Submitted Via: Web
Date Sent: 2018-04-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-04-11
Issue: Unauthorized transactions or other transaction problem
Subissue:
Consumer Complaint: I purchased XXXX LTC/BTC coins on Coinbase then approx. a week later they disappeared from my wallet.I called coinbase, they sent an email asking for screenshots.I sent them right away then heard nothing.A couple of weeks later I emailed them again.They asked for the same screenshots which were sent within minutes.I waited a couple of weeks and received no response.I emailed coinbase again and called each time they ask for the same information.
Company Response:
State: IN
Zip: 46835
Submitted Via: Web
Date Sent: 2018-04-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-04-11
Issue: Money was not available when promised
Subissue:
Consumer Complaint: I've been having issues contact Coinbase.com and XXXX concerning a lockout to my account. For the past two and a half months I've been having seeing " An error occurred. Please contact XXXX support '' when trying to access my funds. I currently have around 14k in total cryptocurrency values that aren't accessible at that the moment. I have repeatedly emailed them and see this response multiple times : " Hi again, Ive just checked your account and can confirm that your request has been properly escalated. For fastest response, please do not create multiple tickets about your issue. Once your request is cleared, well be sure to follow up. Thanks so much for your patience and for working with us on this. Hi there, Thank you for contacting Coinbase! Thank you for patronizing Coinbase. Warm Regards, *XXXX* '' If I could somehow have access to my account that would be great.
Company Response:
State: CA
Zip: 945XX
Submitted Via: Web
Date Sent: 2018-04-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A