Date Received: 2018-03-14
Issue: Other service problem
Subissue:
Consumer Complaint: I bought a bitcoin and an etherium coin from the company Coinbase in XXXX, XXXX. At the time I had been living in Oregon since XXXX. I had a vehicle registered in Oregon as well, and a credit union account with an Oregon credit union. My first purchase was on XXXX XXXX I purchased XXXX Bitcoin online on Coinbase using a credit card, which was charged {$140.00}, correlative to the price of bitcoin at the time. On XX/XX/XXXX I purchased 1 ethereum for {$200.00}, which was withdrawn from my credit union account. Also on XX/XX/XXXX I bought XXXX bitcoin for {$2200.00}, withdrawn from credit union account. On XX/XX/XXXX I sent XXXX bitcoin from my Coinbase account to a different website. On XX/XX/XXXX, I bought another XXXX bitcoin, paying Coinbase {$920.00}. All these details are facts outlining that I have approximately XXXX bitcoin, as well as XXXX ethereum, and XXXX bitcoin cash coin ( a forked coin of bitcoin, which Coinbase deposited to anyone who had bitcoin at the time of the fork ). In XXXX I went to travel in a different country and I cancelled my cell phone service plan, as not to waste money on a plan I wasn't using while I was out of the country. Unfortunately, I had forgotten that it was the phone number I had used for my Coinbase login verification. Each time I logged in, Coinbase would send a code in the form of text to the cell phone number, and I'd enter the code to securely log in to my Coinbase account. Well, since the cellphone number was cancelled, Coinbase asked me to submit a firm of ID to verify who I am. I still have a drivers license issued by the state of Hawaii, where I lived for several years prior to XXXX. It is a valid license and does not expire for several years, so I never got a new one from the Oregon dmv. In fact, it wasn't even a requirement when registering my vehicle in Oregon early XXXX. So to verify my account, I sent Coinbase a photo of my license. They assumed that since I had a Hawaii license that I was a Hawaii resident, and per their policy of not dealing with Hawaii residents, locked me out of my account indefinitely. From that point I have sent more than 10 emails to the company, many of which were not replied to. The responses I do receive were all auto reply emails that didn't address my particular concern. I explained all of this to coinbase in many emails and not once did anyone help me in a productive manner. In the time that my account was locked, the price of bitcoin went up to almost {$20000.00}, and ethereum to over {$1000.00}. However, I had no opportunity to sell my bitcoin at that time because coin base had unrightfully locked me out of my account, with little explanation and no real attempts to help me. I'm not saying that I would have for sure sold my coins when they were valued at their highest, but the point is that Coinbase didn't allow me such an option, and essentially ignored my inquiries. At one point they held {$25000.00} worth of currency, between my holdings in bitcoin, ethereum, and bitcoin cash. To this day, they do not allow me to access my account, not do they allow me to send my cryptocurrency to any other accounts. They have essentially hijacked these assets and made no effort to return them. Today the assets I hold on my Coinbase account total about {$10000.00}. About 1 week ago I sent Coinbase an email advising them that I would file a formal complaint with CFPB.
Company Response:
State: OR
Zip: 97080
Submitted Via: Web
Date Sent: 2018-03-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-03-14
Issue: Other transaction problem
Subissue:
Consumer Complaint: On XXXX XX/XX/2017 I purchased {$700.00} worth of Bitcoin from Coinbase, over a couple days I canceled my account and requested a refund which I have not received as yet. After a couple days I called the Coinbase phone line It was answered and I was told that they needs to access my account to make put my money back so I opened my account but no money was deposited. That same day my account was hacked and {$1000.00} was taken from my account by Coinbase. I made an alarm and my {$1000.00} was refunded. I made some changes to my account after that so as to prevent anymore unauthorized transaction. The outstanding balance of {$570.00} was not refunded to me. As you will see from emails sent back and forth they are clearly trying to rip me off. Many phone calls and email later still no refund.
Company Response:
State: CA
Zip: 90706
Submitted Via: Web
Date Sent: 2018-03-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-03-13
Issue: Managing, opening, or closing your mobile wallet account
Subissue:
Consumer Complaint: XX/XX/XXXX : I deleted my old number associated with my coinbase account ( to update new phone number ). I was locked out of the account and got an error - 'Account recovery process could not be started because you don't have primary phone number '. Submitted support request. XX/XX/XXXX : Received mail from coinbase support about reversed transaction on XX/XX/XXXX of {$2700.00}. Got reply from coinbase support to create new account, finish Identity Verification procedure and wait for funds transfer. XX/XX/XXXX : Told to wait for fund transfer. XX/XX/XXXX : Mailed coinbase for assistance to choose alternate payment since I could still not access my account. Still No response.
Company Response:
State: OR
Zip: 97124
Submitted Via: Web
Date Sent: 2018-03-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-03-13
Issue: Managing, opening, or closing your mobile wallet account
Subissue:
Consumer Complaint: I was unable to make any purchases or log into my XXXX account ( operated by Coinbase , Inc. ) on XX/XX/XXXX. I received an automated message stating that a ticket has been opened for me. I emailed again asking for a status on XX/XX/XXXX, and received another response, this time from customer service stating my ticket has been escalated. I reached out again on XX/XX/XXXX, and am currently awaiting a response back.
Company Response:
State: WA
Zip: 98059
Submitted Via: Web
Date Sent: 2018-03-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-03-13
Issue: Money was not available when promised
Subissue:
Consumer Complaint: I'm using Coinbase.com to store a significant amount of cryptocurrency. They have a service called the " XXXX '' that adds additional layers of security, so I store most of my funds in the XXXX. Unfortunately, there is a bug within Coinbase that caused my funds to be frozen about 75 days ago. Other people have reported the same bug on various online forums. In essence, I deleted an old Coinbase account, but the email address associated with that old account was also being used as the secondary email address for my active Coinbase account. Because of some kind of defect in the Coinbase system, when I deleted my old account, my secondary email address for my active account was also deleted within their system. In order to withdraw funds from my XXXX, I need to receive a confirmation email at both my primary and secondary email addresses. Because Coinbase erroneously deleted my secondary email address, that is now impossible, and my funds are frozen. I first emailed them about 75 days ago regarding this issue and have since called them twice, talked to representatives, and emailed them numerous times. Unfortunately, they have not resolved the issue or even given me an adequate response detailing when they will help me regain access to my funds. Because of this I have lost a significant amount of money ( I would have sold some of this cryptocurrency during this period ). Coinbase is notoriously bad when it comes to customer service so sadly I'm not too surprised I've had this experience. I just want to get it resolved as soon as possible and get access to the funds I entrusted to them. My case numbers with Coinbase are # XXXX and # XXXX.
Company Response:
State: IA
Zip: 513XX
Submitted Via: Web
Date Sent: 2018-03-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-03-13
Issue: Unexpected or other fees
Subissue:
Consumer Complaint: I am an XXXX citizen living in XXXX. When I opened a Coinbase account I was asked to prove my identity and country of residence. After few month, I've tried once to access to my account when I was in XXXX for vacation. After this event, when I try to access to my account I lend to a page where is written that because of what recommanded by the U.S. Treasury and the Office of Foreign Assets Control ( OFAC ) my account is locked. I sent several emails but after more than 3 weeks I still can not access to my account.
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2018-03-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-03-13
Issue: Money was not available when promised
Subissue:
Consumer Complaint: I have purchased {$34000.00} of Bitcoin, Bitcoin Cash, Ethereum, and Litecoin on www.coinbase.com to trade. Simultaneously, I am starting a coffee lounge business and needed to sell my coin. When I tried to do so on XX/XX/XXXX, I encountered this message preventing me from selling : " Account Restricted. You are currently unable to buy and sell digital currency on Coinbase. Please visit https : //support.coinbase.com for assistance. '' I contacted them multiple times via phone and email and they have refused to inform me of why my account was restricted because they are waiting for a nonexistent " specialist '' to work with me. Many other people have had this same issue with Coinbase 's shady business tactics and they recommended that I contact the government. Since this point, my coins ' values have plummeted significantly, and I have been unable to get my money back which has put me into a desperate situation with my startup company. I have wasted almost a month of expensive XXXX business rent waiting for someone to take my account off restriction, and have delayed my opening date. XXXX is absolutely awful for not communicating and dealing with my inquiry in a timely fashion. I need my coin back immediately!
Company Response:
State: IL
Zip: 60030
Submitted Via: Web
Date Sent: 2018-03-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-03-13
Issue: Money was not available when promised
Subissue:
Consumer Complaint: On XX/XX/2017 I made two different transactions for selling my virtual currency Bitcoin and Litcoin through coinbase. The first transaction was for {$260.00} of bitcoin -reference # XXXX The second transaction was for {$130.00} of litcoin XXXX reference # XXXX The money was supposed to be directly deposited into my checking account. The company has not responded to this issue.
Company Response:
State: WI
Zip: 531XX
Submitted Via: Web
Date Sent: 2018-03-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-03-12
Issue: Managing, opening, or closing your mobile wallet account
Subissue:
Consumer Complaint: With XXXXBTC in my XXXX account, I requested an increase in my daily limit transfer so I could engage in arbitrage. My account was closed in early XX/XX/2018. I emailed them for a reason. They replied that I wasn't XXXX yet. I ( re ) submitted my identification docs to show that I am. They replied that the account was closed for other reasons, that they couldn't disclose. I have asked that my account be reopened but have gotten only emails in reply asking how satisfied I am with the resolution of my case.
Company Response:
State: NJ
Zip: 07302
Submitted Via: Web
Date Sent: 2018-03-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-03-12
Issue: Unexpected or other fees
Subissue:
Consumer Complaint: Hi, My name is XXXX XXXX one of the user of CoinBAse. i had participated one of the ICO ( initial coin offering ) from XXXX. And I had transferred XXXXETH and Tx status is succesfull. As per the etherscan it is showing that COINBASE had recieved XXXX tokens to their coinbase wallet. However COINBASE team is not helping to send it over to my personal etherwallet. After doing proper research over internet, there are plenty of users with such an incident. Please help me to get my hard earned money back to me. Regards XXXX M
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2018-03-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A