Date Received: 2023-03-29
Issue: Fraud or scam
Subissue:
Consumer Complaint: Coinbase has wrongfully edited the name on my account to something inaccurate and offensive. I have contacted them multiple times, with valid identification, to change the name. They refuse to do it, and keep sending me in an endless circle of emails/auto-generated nonsense. My name was accurately reflected as of XX/XX/XXXX. I lost access to my account in early XX/XX/XXXX and I was forced to attempt to re-verify my account. This required 4-5 emails back and forth with them over a 2 weeks period XXXX. Upon successfully accessing my account, I found that they had changed my legal name on the account to the offensive and inaccurate name. I have now spent a few hours today attempting to get them to correct this, and they keep sending me endless circles. Fraudulent changing the name on a customer account is a pretty serious issue, and one that should lead to regulation of this trash company.
Company Response:
State: CT
Zip: 06820
Submitted Via: Web
Date Sent: 2023-03-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-03-29
Issue: Other transaction problem
Subissue:
Consumer Complaint: On XX/XX/2023 I XXXX XXXX XXXX returned merchandise bought at XXXX XXXX located at XXXX XXXX XXXX XXXX XXXX, CA XXXX which the merchant issued me a receipt of refund of {$3500.00} going to my Coinbase debit XXXX card ending in XXXX. I have already spoken to XXXX XXXX multiple times and they confirmed that the refund went through with approval # XXXX. My Coinbase card has been deactivated since them and no longer have access to any of my funds there. I spoke to Coinbase multiple times and ensures me that no refund was issued and that my card is working. I need access to my funds.
Company Response:
State: CA
Zip: 91331
Submitted Via: Web
Date Sent: 2023-03-29
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-04-02
Issue: Fraud or scam
Subissue:
Consumer Complaint: I'm a XXXX XXXX XXXX and I was approached by an " investor '' who worked in Crypto Currency, who claimed to have $ XXXX to invest in a rental property. The first communication was via a phone call then after that it was all through XXXX. He said that he worked with a network of investors around the world with account balances in excess of $ XXXX and they all worked together to trade simultaneously and move the market. I tried investing {$1000.00}. I sent it to Coinbase via wire and there it was exchanged for crypto currency and from there it was transferred to a Coinbase Wallet where an exchange named XXXX was accessed through a " Wallet Login ''. The first investment went so well that I decided to invest more $ XXXX and of course the gains were astounding. At that point I told him that I needed to be able to withdrawal funds and of course he helped me with that. This went on for a while to the point where I had invested app $ XXXX. My account balance at that point was {>= $1,000,000}. He directed me into a trade for $ XXXX and it happened very quickly. I made the trade and at that point he called me right away to say I had to deposit another $ XXXX to protect the option trade. I told him that wasn't possible and we would just have to wait until the trade closed in 48hrs to see what happens. At that point he deposited $ XXXX into my account to boost the balance to $ XXXX. Just before the trade was set to expire, he called me and again he tried to get me to deposit an additional $ XXXX and or trade at least the last $ XXXX in my account and I told him no I was done. The trade finished and of course it was bad and I lost the $ XXXX. In retro spec I'm certain that the XXXX trading platform was fictitious and there were never any real trades made. The next step was to try to withdrawal the remaining $ XXXX in my account. I submitted a withdrawal request with XXXX and waited for about 4 hours then I contacted their tech support through the app. The response I received was that since this was the first large withdrawal from my account I had to provide a 20 % deposit to " prove funds '' within 3 days or my funds would be frozen on the block chain for 90days. I was desperate for the funds so I made the deposit. At that point they said I was number XXXX in the que for withdrawals and I had to be patient ... of course for a fee of $ XXXX I could achieve super account status and receive my withdrawal in 15 mins. I did not make the final $ XXXX deposit it became obvious at that point that it was a total scam. I have screen shots of all of this that I am glad to share. This was an amazingly well organized scam. I lost $ XXXX ... ..my life 's savings.
Company Response:
State: CO
Zip: 80524
Submitted Via: Web
Date Sent: 2023-04-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-04-01
Issue: Fraud or scam
Subissue:
Consumer Complaint: My name is XXXX XXXX XXXX. I live at XXXX XXXX XXXX XXXX, XXXX # XXXX, XXXX XXXX Idaho XXXX. In XXXXXXXX XXXX XXXX I met a person on XXXX dating, named " XXXX ''. She asked if we could use an app called XXXX and we started Communicating there. She was talking normally for a few daysand then started talking about crypto investing. I wanted to delete her after that but I ignored the red flag and played along. She was working on me and trying to get me into crypto trading in higher amounts for greater returns. I was still very skeptical but knew the platforms were safe and secure as long as I didn't give her my account log in information nor my send or receive codes, which I never did. She eventually talked me into wiring an initial transfer of money to Coinbase, which is a secure crypto currency exchange. I knew this and was not worried about transferring my money there. The initial wire transfer was ( XXXX $ ) on XXXX of XXXXXXXX XXXX. She increased the money that I put in there by {$700.00} in only XXXX minutes or so of trading and allayed my concerns of being scammed as I had control of this money when it was in my coinbase account and my coinbase wallet. At the end of the trading day, she guided me through depositing the money into a bitcoin IRA account she led me through the creation of. ( It wasn't known at this time but that IRA platform was fraudulent. ) There were two deposits I made by wire into my coinbase account and those dates were First date of Transaction XX/XX/2022 and Last date of XXXX XX/XX/2022. The total amount of money deposited was $ XXXX then started asking for more and more money to invest in Crypto, and she had already proven herself on smaller amounts ( or so I thought ). I also believed the IRA account was legitimate still so I transferred a total of {$27000.00}. In order to trade it she convinced me that I should end and initiate trading from my fraudulent bitcoin IRA account. After my final deposit I realized that I had been scammed as I tried to reach customer service from the XXXX IRA website and never received a reply. The evidence attached is from my detectives who have traced the funds and helped me file claims to recover the funds from the XXXX different exchanges that ended up receiving the transfers from her account ( see attached XXXX XXXX XXXX ). I will also provide this information on a thumbdrive, per our conversation, and drop it off with the local FBI office for your use in this case when you request it. Thank you, XXXX XXXX
Company Response:
State: ID
Zip: 83702
Submitted Via: Web
Date Sent: 2023-04-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-03-31
Issue: Fraud or scam
Subissue:
Consumer Complaint: Commencing on or around XX/XX/2021, I fell victim to a multilayered scam operation orchestrated by XXXX which involved me making deposits for a total amount of XXXX USDT and XXXX ETH from my Coinbase account to fraudulent investment firm ( s ).
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2023-03-31
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-03-28
Issue: Fraud or scam
Subissue:
Consumer Complaint: I wish to practice my right as a customer of Coinbase to use your organization 's service, seeking a formal, impartial investigation to amicably settle my dispute ( Ref : # XXXX ) with Coinbase. In order to clear up the myriad of letters and correspondences I have hitherto sent to Coinbase respecting my complaint, I believe it will substantially strengthen both my case and your understanding, by taking a deeper look at the happenings of my case and analyzing the relevant facts in an objective and comprehensive fashion. It is crucial to note that I have been manipulated, socially engineered, and coerced to engage these fraudulent criminals. Much to my embarrassment, I recognize that I am the victim of an investment scam. My complaint to the CFPB has arisen as I do not consider, by any stretch of the imagination, the conduct of Coinbase to be commensurate with their legal role and responsibility to their customers. They sell a service to look after their customers, and protect their money and are a financial institution that maintains a traditional relationship and way of working with its customers. During the complaints process with Coinbase, I found their communication ineffective, which further hides their conduct to management and diminishes the service offered to their clients. They are struggling to adapt their business offering in the ever-changing world of IT development. The internet is presenting a real problem that they choose to manage in a way that is not in line with the rules and regulations of CFPB as well as their own internal policy and procedures sold to their clients. Commencing on or around XX/XX/2022, I fell victim to a multi-layered scam operation run by Ethminingsvip.com which involved me making deposits for a total amount of XXXX USD from my Coinbase account to the fraudulent investment firm.
Company Response:
State: GA
Zip: 31904
Submitted Via: Web
Date Sent: 2023-03-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-03-28
Issue: Other transaction problem
Subissue:
Consumer Complaint: On XX/XX/XXXX, I received an email from Coinbase.com that some money had been added to my account. This made no sense to me as I did not do this. I tried to log into my account and discovered my password and dual-authenication no longer worked. I then received an email on XX/XX/XXXX from Coinbase that they were aware that a third party had compromised my login credentials. I immediately contacted Conbase for assistance and it took until Monday XX/XX/XXXX before I was able to regain access to my account. It was then that I found my Coinbase account was hacked and all but a few of my Crypto currency shares were sold without my authorization. I created new password, changed authentication apps, and closed my personal bank account and terminated the link with my Coinbase account. It's been vitrtually impossible to get any help out of Coinbase. The only correspondance from them was in an email were I had to answer 9 questions regarding the situation. So, Coinbase knew of the attack, and of my losses, and evan after my implementing new security protocols, again on XX/XX/XXXX my account was hacked and the remaining shares were then sold without my authorization. It seems that Coinbase did not take any immdeiate measures proactively to guard my account nor have they be forth coming with any kind of info regarding my situation and what the investigation status is if any. The following transactions were unauthorized and I have plenty of documentation to back it up. This info has also been provided to Coinbase. A ) Bitcoin ( BTC-USD ) Sale reference code XXXX, shares sold XXXX, price per coin {$24000.00}, Payment method BTC Wallet , Coinbase fee {$79.00}, sub-total {$5300.00}, distributed {$5200.00}. B ) Ethereum ( ETH-USD ) Sale reference code XXXX, shares sold XXXX, price per coin {$1600.00}, Payment method ETH Wallet , Coinbase fee {$240.00}, sub-total {$16000.00}, distributed {$16000.00}. C ) Doge ( Doge-USD ) Sale reference code XXXX, shares sold XXXX, price per coin {$0.00}, Payment method DOGE Wallet, Coinbase fee {$2.00} sub-total {$85.00}, distributed {$82.00}. D ) Bitcoin ( BTC-USD ) Sale reference code XXXX, shares sold XXXX, price per coin {$24000.00}, Payment method XXXX XXXX XXXX XXXX XXXX XXXX, Coinbase fee {$14.00}, sub-total {$980.00}, distributed {$1000.00}. Thank you for your time and any assist will be egreatly appreciated. Regards. XXXX
Company Response:
State: WA
Zip: 983XX
Submitted Via: Web
Date Sent: 2023-05-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-03-29
Issue: Fraud or scam
Subissue:
Consumer Complaint: I was scammed out of XXXX in bitcoin
Company Response:
State: TX
Zip: 76401
Submitted Via: Web
Date Sent: 2023-03-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-03-29
Issue: Fraud or scam
Subissue:
Consumer Complaint: Commencing on or around XX/XX/2022, I fell victim to a multi-layered scam operation run by XXXXXXXX which involved me making deposits for a total amount of XXXX USD from my Coinbase account to the fraudulent investment firm. When determining whats reasonable and fair, we should focus on the issue of liability ; common queries include, but are not limited to, the following ( i ) whether Coinbase did not take notice of any rule, law, or regulation, and/or possibly missed any material elements of the relevant bylaws or codes of conduct, that may have prevented them from protecting my financial safety ; ( ii ) whether by virtue of Coinbases custodianship over my funds or by its control over them, they owed a fiduciary duty to the me and if so, whether that duty was breached ; ( iii ) whether Coinbase promoted the transaction ( s ) in question despite being aware of the nature of the transaction ( s ) in question ( iv ) whether Coinbase was in compliance with its own policies and procedures ; ( v ) whether Coinbase owed duties to myself, what the scope of those duties was, and whether Coinbase did not uphold those duties ; ( vi ) whether Coinbases conduct was unfair ; and ( vii ) whether Coinbase has within its power the ability to, and should, compensate me for the harm that has befallen me.
Company Response:
State: TX
Zip: 77089
Submitted Via: Web
Date Sent: 2023-03-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-03-27
Issue: Other transaction problem
Subissue:
Consumer Complaint: I submitted a deposit into my XXXX account in the amount of {$1900.00} to cover the cost of 1 ethereum. After hitting submit my account showed that I had {$1900.00} in my assets so that's when I went ahead and purchased the 1 ethereum. Once I purchased 1 ethereum my account went from {$1900.00} to over {$3700.00}. I freaked out and spent the next several hours with 2 different online chat agents asking why my account went from {$1900.00} to over {$3700.00}. Neither one could answer me. This whole scenario was on Saturday, XX/XX/XXXX. On Monday, XX/XX/XXXX my personal checking account had 2 transactions from XXXX. One in the amount of 1 ethereum and the other transaction for {$1900.00}. I didn't authorize this. I put a stop payment on the {$1900.00} because XXXX already took out the money for 1 ethereum. That's when XXXX put a hold on all my money until I paid another {$1900.00}. So I paid the {$1900.00}. Now as of XX/XX/XXXX, they still have all my funds on hold and refuse to give me an answer why or let me know when I'm able to access my funds. I don't deserve this.
Company Response:
State: GA
Zip: 30542
Submitted Via: Web
Date Sent: 2023-03-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A