Date Received: 2018-02-19
Issue: Money was not available when promised
Subissue:
Consumer Complaint: Please help me get my {$6500.00} back. Coinbase lost my total {$6500.00} transfer. I made wire transfer {$3000.00} on XXXX and {$3500.00} on XX/XX/XXXX from XXXX XXXX Bank to XXXX XXXX XXXX. The amount was never credited to my Coinbase account so I opened a support ticket two weeks later. On XX/XX/XXXX, I reported to XXXX XXXX Bank and filed this case as fraud. I also contacted Coinbase to refund {$6500.00} again. On XX/XX/XXXX, I finally received email from Coinbase that {$6400.00} ( {$20.00} fee ) was funded on my Coinbase account, however, it says " Buys disabled. '' I requested to refund {$6500.00}. On XX/XX/XXXX, Coinbase closed my account without notice. I contacted Coinbase multiple times to request the refund of my {$6500.00}, but no response. On XXXX, XXXX XXXX closed the original claim and reopened to escalate with online wire transfer claim. Now here I am, 6 weeks later, still waiting for Coinbase to return it. Deposit reference : XXXX {$3500.00} Deposit reference : XXXX {$3000.00}
Company Response:
State: UT
Zip: 84341
Submitted Via: Web
Date Sent: 2018-02-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-02-19
Issue: Wrong amount charged or received
Subissue:
Consumer Complaint: I have accounts at Coinbase, XXXX and XXXX. I have only transferred my bitcoin from Coinbase to XXXX and then to my XXXX account so I could purchase other coins No other exchanges. I have never converted XXXX back to $ yet. On XX/XX/XXXX, as stated beow, my XXXX bitcoin never made it to my XXXX account. I have contacted XXXX and they have done nothing yet and its been almost 2 months. Please assist me. Thank you. The one below for XXXX XXXX never made it to XXXX. This is from XXXX HISTORY transfer XXXX XXXX - XX/XX/XXXX XXXX XXXX this one never made it XXXX Transfer ID : XXXX This is my XXXX account showing I received the XXXX Bitcoin, but not the XXXX XX/XX/XXXX BTC XXXX XX/XX/XXXX BTC XXXX XX/XX/XXXX BTC XXXX XX/XX/XXXX BTC XXXX
Company Response:
State: CA
Zip: 91741
Submitted Via: Web
Date Sent: 2018-02-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-02-19
Issue: Fraud or scam
Subissue:
Consumer Complaint: I had BTC both in a wallet and a vault at Coinbase at the time BCH fork was created. An email from Coinbase said BCH would be delivered to customers in XX/XX/XXXX. A Coinbase article, stated those customers with BTC in a vault would receive BCH in a regular wallet. If my Bitcoin was in my Coinbase account rather than my XXXX account at the time of the fork, will I still receive my BCH? Yes, but the BCH amount youve been credited will appear in your Coinbase account rather than your XXXX account.Specifically, if your Bitcoin was in your Coinbase Vault at the time of the fork, your BCH will be credited to your BCH wallet in your Coinbase account.To access your BCH, log into coinbase.com where you will have the option to transfer to XXXX. ( XXXX | Bitcoin Cash FAQ https : XXXX ) On XX/XX/XXXX, a month early, Coinbase offered BCH to some customers and not all. There was a big press release where Coinbase stayed it had provided BCH to all customers with BTC at the time of the BCH fork. I received BCH for my bitcoins in their regular wallet, minus about a 6 % fee, but no BCH for bitcoins in their vault. The accompanying email stated Coinbase was working on providing BCH for funds held in their vault despite the article that said those customers would receive BCH in a regular wallet. ( Screenshots attached ) After about 6 weeks and not hearing from Coinbase, I called their customer service department the first week in XXXX and was told Coinbase would not provide BCH to customers who held BTC in their vaults ( Screenshot provided ). I opened a ticket as advised and for the first time I received an immediate response from a representative at Coinbase who said they were working on the issue ( screenshot provided ) When Coinbase released BCH to some of its customers on XX/XX/XXXX, the following day on XX/XX/XXXX, BCH skyrocketed to about {$4100.00}. There was suspicion of insider trading and Coinbase conducted an investigation of itself. Since then BCH price fell over 70 %, Coinbases decision to provide BCH to some customers was financially harmful to other customers who were equally entitled to receive BCH but did not. They violated their own agreement, misled the public and probably broke laws around securities. A company can not selectively give dividends to some stockholders and not others at different times. Why should Coinbase be allowed to do so? I ask that Coinbase do the right thing and honor their agreement to deliver BCH to my wallet and compensate for the harm in its selective delivery of BCH to some customers with BTC ( at the time of the fork ) and not all its eligible customers.
Company Response:
State: NH
Zip: 030XX
Submitted Via: Web
Date Sent: 2018-02-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-02-18
Issue: Other service problem
Subissue:
Consumer Complaint: Hi I had my coinbase account with id XXXX and changed my phone as a result the 2FA was not working. In order to recover my account I tried to upload my new identification documentation 100s of times but the system returned " ID Unreadable ''. I then created a new coinbase account XXXX with the same Identification documents and it was recognized. I then asked Coinbase to : 1 ) Either recognize my identification documents for account XXXX OR 2 ) transfer my coinbase funds ( BTC, ETH, LTC, etc ) from my old account XXXX to XXXX - so that I could get access to my funds. I have been unable to access my coins / funds since XX/XX/2017. Several tickets have been raised for both the above requests, but till date the only response I have got it they are working on the issue, for the past 3 months I have been following up regularly but my problem is still not solved. 1 ) Tickets to restore my old account ( XXXX ) # XXXX ( XX/XX/2017 ) 2 ) Ticket to transfer funds from old account ( XXXX ) to ( XXXX ) # XXXX - initially raised on ( XX/XX/2017 ). Their software easily reads my id when I create a new account, but when I try to restore my old account it fails badly. I have been following up almost daily on XXXX and sending reminders to help me as approx. XXXX USD amount of funds are stuck and I can not get access to the coins. I am ready to send them any documentation they need, they already have my mobile number and can verify my identity using SMS and my pictures. Thanks XXXX XXXX
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2018-02-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-02-18
Issue: Money was not available when promised
Subissue:
Consumer Complaint: Case # XXXX. On XX/XX/2017 I sent XXXX of a bitcoin from my mobile wallet to Coinbase. Funds never appeared in my account. Coinbase customer support haven't responded to any of my emails and no funds in my account to this day.
Company Response:
State: CA
Zip: 94518
Submitted Via: Web
Date Sent: 2018-02-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-02-17
Issue: Other transaction problem
Subissue:
Consumer Complaint: On XX/XX/2018 XXXX XXXX dollars was with out my authorization charged to my debit card. Furthermore, XXXX dollars that I already had in my coinbase was also taken from me. Everyday since then I have reached out to coinbase through email, phone, and XXXX. They have done nothing to alleviate the situation or even given me acknowledgement.
Company Response:
State: OR
Zip: 97230
Submitted Via: Web
Date Sent: 2018-02-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-02-17
Issue: Money was not available when promised
Subissue:
Consumer Complaint: I have sold bitcoin that I had on Coinbase. They immediately notified me that the money has been transferred via a wire to my XXXX bank account. This was in XX/XX/2017. I waited a few days before contacting them when the money never showed. It took them about 10 days to send a template response saying transaction has been complete and I was wired the money. Never received it till now. They now stopped responding my request for resolution all together. Very shady to fraudulent operation. They owe me {$1900.00}.
Company Response:
State: NY
Zip: 11418
Submitted Via: Web
Date Sent: 2018-02-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-02-17
Issue: Problem with a lender or other company charging your account
Subissue: Transaction was not authorized
Consumer Complaint: I was charged two amounts from XXXX, XXXX and XXXX respectively. I did not complete these purchases, nor did I receive the bitcoin that it was made for. The bitcoin was immediately transferred out with the notes attached to it. The first purchase was XX/XX/2018 for {$500.00} worth of bitcoin, it was sent minus later to an address with the note attached reading " hey dirk ''. The second as XX/XX/2018 fo {$400.00}, and again was sent almost immediately out of coinable to someplace unknown with the not attached " XXXX ''. All previous transactions I have made do not include any note. Also at the time the purchases were made I had positive control of my phone, and my laptop. My laptop account can only be accessed with 2-factor authentication via my phone, and my phone was on me at the time of the purchases. Accessing my phone account requires my fingerprint and then a pin to do any purchases. I have contacted XXXX and received no response. I was then later charged the same amounts again, on XX/XX/2018, both {$500.00} and {$400.00}, which triggered my low balance alert on my account and brought the entire fraudulent charges issue to my attention. These two have since been refunded, but the original purchases hav still not been.
Company Response:
State: NY
Zip: 13208
Submitted Via: Web
Date Sent: 2018-02-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-02-17
Issue: Confusing or missing disclosures
Subissue:
Consumer Complaint: Timeline and overview of events : On XX/XX/XXXX, XXXX briefly opened trading of Bitcoin Cash on their exchange. During this period of time, the market was extremely volatile, presenting an opportunity to make highly gainful, short-term trades. Of course, one can lose money quickly in these situations as well. Being an experienced trader in the cryptocurrency market gives me an advantage on how to approach these situations, so I decided to make a few trades. My first trade was a market order to buy {$14000.00} worth of Bitcoin Cash at {$5000.00}, resulting in a balance of XXXX BCH. I then sold that Bitcoin Cash in a limit order at {$5200.00}, to obtain a USD balance of {$15000.00}. My second trade was a limit order to buy {$14000.00} worth of Bitcoin Cash at {$6300.00}, resulting in a balance of XXXX BCH. This is where things went downhill. Bitcoin Cash continued to rise significantly in value on XXXX as there was not much selling resistance. In order to control this market volatility, XXXX decided to halt trading of Bitcoin Cash on the exchange at XXXX PST with no advance notice, just 20 seconds after my order to purchase Bitcoin Cash at {$6300.00} was filled. At the moment of the trading halt, the last trading price of Bitcoin Cash had reached {$9500.00}. Generally, when trading is halted for technical reasons or otherwise on XXXX, it is resumed in a timely fashion to maintain market activity. A large consolidation of " post-only '' buy and sell orders had consolidated around {$8500.00} after the halt in anticipation of the market potentially reopening. However, XXXX realized that they had made a mistake of not giving enough advance notice to add Bitcoin Cash to the trading platform, so they decided to cancel all orders and reattempt to open the exchange in a " fairer '' manner the next morning. Unfortunately for me, I was stuck with XXXX BCH that was purchased at an extremely overpriced/inflated value and was unable to do anything in the meantime. As I mentioned before, my intention was never to engage in long term trading of Bitcoin Cash. In fact, my initial trade where I bought Bitcoin Cash at {$5000.00} and sold at {$5200.00} lasted less than a minute. So in order to attempt to resolve this in a fair manner, I opened a support ticket explaining my situation. Knowing that the support ticket would take awhile to get resolved and I was going to be on flights all of the next day, I woke up early to call Coinbase on their phone line. After being on the phone line for an hour, I was connected with a representative, explained my situation, and was told that they couldn't directly do anything to resolve the case, but that it would be set as a " high-priority '' case that would be handled by a specialist. I asked for a timeline and they could not provide any timeline to resolution. I asked another question about another case that I had that was open for a few weeks at the time and was put on hold, but the call disconnected immediately as it was put on hold, so I hate to make assumptions, but it looks like I was hung up on. As I was given no direction as to where the case was going and/or how long it would take to resolve it, I made the decision to sell my Bitcoin Cash at the opening price. As I was going to be in airports all day traveling, I had to quickly put together a trading bot to sell my Bitcoin Cash for me, which was stressful and I ended up in a position that was particularly suboptimal. The best price that I was able to sell my XXXX BCH at was {$4300.00} in a market order, which resulted in an approximate trade balance of XXXX {$9600.00} after fees. Just to reiterate, I had purchased that same Bitcoin Cash the previous night for {$14000.00}. After not hearing anything for about 3 weeks, I made another call to Coinbase on XX/XX/XXXX. Once again, I was on the phone waiting for over an hour for an agent to pick up. I asked for a simple status update, was told I was going to be put on hold while they looked into, but as soon as the hold was placed, the call was disconnected. Also once again, I hate to make any assumptions, but I am led to believe that I was hung up on. Today, XX/XX/XXXX, I called Coinbase again hoping they would have some information for me on this case. I was on the phone waiting for an agent for almost an hour and a half. This time I didnt get disconnected, but the agent wasnt able to provide much more than to open up a new case and raise that case to a specialist without any timeline for resolution. Evidence against XXXX : Firstly, XXXX has issued a retrospective statement effectively admitting that they handled the rollout of Bitcoin Cash on their platform in a manner that was not appropriate. That statement can be found here https : XXXX. Although there was never any clear admission of guilt ( likely for legal purposes ), they did say the following : Despite our best efforts to create a fair and orderly market, the launch did not go as expected and we understand why many of our customers and members of the community are upset. Despite this, they have not made any effort to compensate those affected by the premature launch. Second, despite my spending many hours dealing with this situation and attempting to get more information, this case seems to have gone nowhere. Ive been disconnected and arguably hung up on twice by Coinbase customer support. The support ticket has not had any progress, and I have never been reached out to by a specialist. Lastly, and most importantly, the decision by XXXX to halt trading of Bitcoin Cash is a direct violation of their own Trading Rules as outlined in the following document : https : XXXX. Because this is a living document, the numbering and rules have changed multiple times since the case was opened. Notably, at the time of writing this, section 2 of the Trading Rules deals with Market Integrity. Rule ( 2.12 ) specifically says, XXXX does not use artificial market integrity measures such as circuit breakers or trading halts. This rule, in clear and plain text, explains that XXXX does not use trading halts to preserve market integrity. This is precisely what they did on XX/XX/XXXX with Bitcoin Cash. To preface whats next, section 2 of the Trading Rules was previously section 3 and rule 2.12 used to be rule 3.11. On XX/XX/XXXX, it appears that XXXX made an attempt to cover up their legal responsibility in this incident by amending rule 3.3. An archive of this amendment archive can be found here : https : XXXX. Rule 3.3 is now rule 2.4 and states the following : XXXX Market Operations has the authority to take any action deemed appropriate to preserve market integrity. Such actions include, but are not limited to, the halting of trading, modifying risk-mitigating parameters, restricting Trader access to XXXX, restricting order types to post-only or limit only, canceling orders resting in the order book, or any other actions deemed to be in the best interest of the Exchange. So, in rule 2.4 they explain that they can take any actions they deem appropriate, which includes the halting of trading. However, rule 2.12, states the contrary in that they do not use trading halts to preserve market integrity. With all of this in mind, I believe it is clear that Coinbase/XXXX is at fault in this case.
Company Response:
State: NC
Zip: 276XX
Submitted Via: Web
Date Sent: 2018-02-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-02-17
Issue: Unexpected or other fees
Subissue:
Consumer Complaint: On XX/XX/XXXX, I was unable to login to my XXXX account where I had just purchased XXXX worth of Bitcoin and Litecoin earlier that day. I was quickly prompted with a message that I should contact Coinbase Customer Support. However, I was confused on why I was unable to access my XXXX account because I did not receive an email on why my account had been temporarily disabled. I contacted Coinbase on XX/XX/XXXX and was told the reason why my XXXX account had been disabled is because my XXXX credit card company had reversed an order on my account. However, even though I had that credit card linked to my account, I have never used that credit card to purchase any cryptocurrency on my account. I only used my bank account to purchase cryptocurrency on Coinbase. The customer support representative then went on to tell me that in order to regain access to my XXXX account I will need to pay {$3200.00} dollars. I paid the {$3200.00} with my card and was told I should regain access in 3-5 business days. On XX/XX/XXXX, I logged onto my Coinbase and noticed they had taken XXXX dollars worth of bitcoin from my account after I had initially paid them {$3200.00} they had wanted. I contacted Coinbase that same day and was told they only accept cryptocurrency as a form of repayment after the fact I paid them via credit card as the site allowed me to. After discussing, the situation with customer support they told me I should immediately regain access to my XXXX account and should be able to buy, sell, and send cryptocurrency again since everything was paid off. It is currently XX/XX/XXXX and I have contacted Coinbase and XXXX multiple times and I continue to get the same response : Your ticket will be handled very soon and you should have full access in 4-5 business days. I honestly do not care that I paid twice for a charge that was never made on my account, I just want access to my XXXX worth of coins that currently stuck in XXXX. My ticket number is # XXXX.
Company Response:
State: MI
Zip: 48315
Submitted Via: Web
Date Sent: 2018-02-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A