Date Received: 2023-04-17
Issue: Other transaction problem
Subissue:
Consumer Complaint: I purchased a small amount of cryptocurrency from Coinbase.com about two years ago or so. I lost access to the account once because I didn't remember my password and had to follow their steps to regain control ( to include taking a photo of the front and back of my license and to take a selfie so they can confirm I am truly the account holder ). The first time I did this it took a few days but I was able to get back into my account. Recently I tried to access my account so I can complete my taxes. I was not able to gain access so I followed the steps as before. However, this time, no matter how many times I took a photo of my license I would instantly get a message that said the system could not confirm it was me. I called their customer service line a few times and the people who were helping me said they would manually review my documents when I forwarded them, to include the selfie I sent. Each time I sent a photo of my license, which was crystal clear ( I used my straight out of the box XXXX XXXX phone to take the photos and it is known for its picture clarity ), the system would not let it go through so the staff weren't able to verify the information. It literally gave me the instant message that it could not confirm me. If someone is manually reviewing the documents it could not possibly have gone that fast. Further, according to the last staff member I spoke to, because of this issue there is literally nothing I can do to access my money. I know it's a nominal amount because I have not been in the system for quite a while. I find this practice questionable because the issue is with their platform that won't let me in, not with the documents I sent. I understand and very much appreciate the safeguards Coinbase.com has in place to avoid fraud because of all the issues around cybercrime today, but I didn't do anything different this time to get reconnected than I did last time. I do not feel like this is my fault and would like it resolved. Ultimately I would like to cancel this account immediately if at all possible. Thank you. XXXX XXXX
Company Response:
State: VA
Zip: 220XX
Submitted Via: Web
Date Sent: 2023-04-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-04-15
Issue: Fraud or scam
Subissue:
Consumer Complaint: In XX/XX/2023 I proceeded to log into my new Coinbase account and found that my assets were absconded. The account shows several transactions on XX/XX/2023 at XXXX through XXXX that I did not perform nor authorize. See attached supported documents, Coinbase states my assets were successfully and securely transferred into my Coinbase account by them. I contacted Coinbase on XX/XX/2023 and filed a complaint. Their case # XXXX. Following up with Coinbase, I was told by Coinbase the following " I recommend attempting to recover the funds from the recipient by reaching out to them and requesting their help. '' I completed all procedures that they requested including a filing a police report in XXXX Georgia # XXXX. Scanning my devices with antivirus software did not show any hacking. I was then able to finally log back into my account to continue my reporting to Coinbase that my assets were still missing. To this day, Coinbase continues to state that transfers are irreversible. Coinbase was the guardian of my assets and they are not as safe and secure as they state. I respectfully request support in retrieving the assets from Coinbase as I feel they are fully responsible. They have the knowledge and where with all to track and see where my assets went. Please advise, your help in this matter is greatly appreciated. Sincerely, XXXX XXXX XXXX
Company Response:
State: GA
Zip: 31322
Submitted Via: Web
Date Sent: 2023-04-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-04-15
Issue: Fraud or scam
Subissue:
Consumer Complaint: On XX/XX/XXXX i added XXXX dollars from my bank to my coinbase account. The account already has a balance of XXXX dollars that had already been in the account and confirmed. The only outstanding and pending transaction is the XXXX dollars. Their system indicated thatni have XXXX available for withdrawal trades and send. But i can not access my funds as coin base put a hold on the entire accounts until XXXX dollars is cleared. Spoke with multiple agents from coinbase and the answer is the same. If that XXXX dollars isnt clear i wont be able to access any lf my already confirmed XXXX dollars affectively holding it with zero interest for two weeks. The representative indicated that is the case. Even if the added money is XXXX dollar they still hold all available balances before it clears. If they do this to all their customers, they wouldve have billions or millions dollars loans for XXXX weeks without paying any fees or interest... they would gained millions by doing just this alone. Normally other platform will also hold funds until it clears. But the amount is the same as the pending. For example in my case they would hold XXXX off of my balance but i can use the rest as it is my own money. Coinbase account is the same as my email provided. I can provide screen shots and their calls are recorded. It appears either they are delaying or stealing funds for their own gains as it does not make any logical sense. 2 weeks of billions at zero interest means 50 millions at 5 % interest that they gained unjustly from doing this to their customers. XXXX XXXX
Company Response:
State: CA
Zip: 92683
Submitted Via: Web
Date Sent: 2023-04-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-04-15
Issue: Managing, opening, or closing your mobile wallet account
Subissue:
Consumer Complaint: I have held a coin base account for several years now and continued to comply with their TOS the entire time. In particular I even re-upped my KYC requirements prior to tax season these past few weeks. On XX/XX/23 I transferred my XXXX XXXX holdings from a separate wallet to the Coinbase wallet and waiting for the funds to make their way there. This morning, XX/XX/23, as the funds showed up in full on the balance, I initiated converting some of the bitcoin cash into ethereum, which was successfully done. When take the XXXX to the other wallet I own ( i.e., off-site from coin base ), my account was blocked. No notifications were given for the blocking and all the follow up steps listed on their website continues to say the account was blocked and every usual troubleshoot requires I can access the account in some ways. It is a circle of wanting codes and sign ins to progress in recovering the account that I am unable to initiate because its blocked from the beginning.
Company Response:
State: NY
Zip: 105XX
Submitted Via: Web
Date Sent: 2023-04-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-04-14
Issue: Wrong amount charged or received
Subissue:
Consumer Complaint: I sent XXXX $ in XXXX via Coinbase and instead the website showed that it sent the entire balance of my XXXX wallet which is {$15000.00} to another address. 1. the confirmation web widget showed a balance in XXXX XXXX which is abnormal since it showed a transaction in XXXX XXXX 2. I received no email confirmation which is also abnormal since the account was setup to send confirmations. Both 1 and 2 point to a problem originating from Coinbase servers. Contacted multiple times with these proofs, coinbase refused to : a. reimburse the faulty transaction b. show web log of the transaction c. answer why I didn't receive an email confirmation d. answer why the web widget showed a balance in XXXX for a transaction in XXXX
Company Response:
State: WA
Zip: 98105
Submitted Via: Web
Date Sent: 2023-04-14
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-04-13
Issue: Fraud or scam
Subissue:
Consumer Complaint: XXXX XXXX XX/XX/2022 I fell victim to a multi-layered scam operation XXXX which involved me making deposits for a total amount of XXXX USD from my Coinbase account to a fraudulent investment firm ( s ). Upon becoming aware of the scam I immediately contacted CoinBase for assistance - and they were not helpful - actually the opposite. I contacted CoinBase and GAVE THEM the wallet addresses where my money had been sent so that nobody else could be scammed. They did absolutely nothing with the information- which should be considered a crime in itself. A report was also filed immediately with reportfraud.ftc.com Report number : XXXX It is incomprehensible in this day in age that there weren't any consumer protections in place, nor assistance upon notification by customer, NOR ANY ACTION TAKEN by CoinBase to prevent or mitigate others from being scammed. Clearly they don't have the proper internal processes needed to run a crypto exchange in accordance with the law and consumer protections. XXXX
Company Response:
State: FL
Zip: 33702
Submitted Via: Web
Date Sent: 2023-04-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-04-12
Issue: Attempts to collect debt not owed
Subissue: Debt is not yours
Consumer Complaint: I received an email from XXXX and XXXX, which said this : Call for Dispute & Cancellation : XXXX ( XXXX ) XXXX Payment of {$690.00} for XXXX Purchase from Coinbase to be unauthorized.If you wish to cancel this request, call us at XXXX ( XXXX ) XXXX New Invoice {$690.00} Due on XX/XX/2023 Pay Invoice Invoice # XXXX XX/XX/2023 Customer XXXX XXXX Additional Recipients XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Download Invoice PDF Invoice summary XXXX XXXX {$690.00} Payment of {$690.00} for XXXX Purchase from Coinbase to be unauthorized.If you wish to cancel this request, call us at XXXX ( XXXX ) XXXX Subtotal {$690.00} Total Due {$690.00} Call for Dispute & Cancellation : XXXX ( XXXX ) XXXX Payment of {$690.00} for XXXX XXXX XXXX Coinbase to be unauthorized.If you wish to cancel this request, call us at XXXX ( XXXX ) XXXX XXXX XXXX XXXX XXXX, OH XXXX United States Please contact Call for Dispute & Cancellation : XXXX ( XXXX ) XXXX Payment of {$690.00} for XXXX Purchase from Coinbase to be unauthorized.If you wish to cancel this request, call us at XXXX ( XXXX ) XXXX about its privacy practices. A paypal logo appears at the top of the email. My family does not have a XXXX account. We have never sought purchase of bitcoin. I do not know what this email is suggesting, but we have attempted to purchase nothing for {$700.00}. This is fraud. I called the listed phone number. The person on the phone asked me to go to XXXX and download software. I refused and told them I would report to the ftc.
Company Response:
State: NC
Zip: 28739
Submitted Via: Web
Date Sent: 2023-04-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-04-11
Issue: Fraud or scam
Subissue:
Consumer Complaint: Dear Team, I recently fell a bad victim of a really bad crypto scam. I lost $ XXXX in this scam, out of which $ XXXX was from Coinbase. I couldnt spot the red flags because the website seemed really legitimate and I thought the person is really helping me with the real profit. It was a XXXX scheme. Here is the link to the fake website impersonating XXXX : krasnysen.com My funds were sent to Coinbase were part of a cryptocurrency scam.I found out I was scammed 5 days ago when I was unable to withdraw my funds. After several days of investigation, I found evidence indicating the platform is a scam, along with other victims who had similar experiences. I tracked the downstream wallet, which was reported multiple times for fraud. I contacted Coinbase but they did not do anything to investigate and/or freeze the fraud wallet. I have reached out to Coinbase for assistance but they did not claim any responsibility. I did not receive the service or protection that was promised or described by them in fact they have a big loophole that enables scam platforms to launder money and steal funds from customers. They are complicit in fraudulent practices and did not have any safety precautions in place to protect myself and others from similar scams. My funds sent to them from my account should be investigated and refunded from them. I need assistance at this difficult time. My police case number is XXXX Thanks
Company Response:
State: TX
Zip: 77449
Submitted Via: Web
Date Sent: 2023-04-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-04-06
Issue: Fraud or scam
Subissue:
Consumer Complaint: I have a coinbase wallet with ALL XXXX security gaurds as recommended by COINBASE in place. Last Year around XXXX I had about $ XXXX XXXX in it. They sent me emails and txt message saying I owe taxes to IRS which the company XXXX would pay on my behalf to IRS. I recognized that as false claim and did not deposit further XXXX in the wallet as they instructed to do by them. Within XXXX week of all of the monies was taken out of my wallet without my permission. I employed XXXX XXXX and they did a crypto trace and found a lot of my assests were sitting with XXXX - wrote to them and they did not respond to my request to return my money and shut down account of the scammers PLEASE NOTE I AM SENIOR AND THESE FUNDS WERE BASICALLY FROM MY SAVINGS FROM XXXX YEARS OF WORKING IN IRA WHICH I ENTRUSTED WITH COINBASE! PLEASE SEE ATTACHED LETTER FOR DETAILS OF THE FRAUD
Company Response:
State: PA
Zip: 180XX
Submitted Via: Web
Date Sent: 2023-04-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-04-06
Issue: Other features, terms, or problems
Subissue: Problem with rewards from credit card
Consumer Complaint: I have a debit card with Coinbase that issues rewards for purchases. I have not received any rewards since XX/XX/XXXX, but have any transactions go through successfully and my account state that rewards have been issues. However, I have not been credited those funds. I have called the support team several times and they refuse to help. Instead the tell you to call a number ( XXXX ) and press option 5 which give a short message and then hangs up on you. They refuse to help.
Company Response:
State: CO
Zip: 816XX
Submitted Via: Web
Date Sent: 2023-04-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A