Date Received: 2018-01-16
Issue: Other transaction problem
Subissue:
Consumer Complaint: On XX/XX/XXXX, I initiated a wire transfer of the amount of {$2000.00} from my bank ( XXXX XXXX XXXX ) to the following recipient : Coinbase, Inc XXXX XXXX XXXX, XXXX XXXX, XXXX XXXX, CA XXXX Routing/ABA Number : XXXX Account Number : XXXX Recipient Instructions/Message : XXXX ' On XX/XX/XXXX, the wire transfer of the amount of {$2000.00} was reversed which is reflected in my bank statement. On XX/XX/XXXX, {$2000.00} was sent from my bank account to Coinbase however this amount was not transferred to my Coinbase or GDAX account and the balance does not reflect the transfer was completed successfully. I 've sent 2 emails to the Coinbase/GDAX support team on XX/XX/XXXX and XX/XX/XXXX and have not received a response from them. I would like to cancel my wire transfer.
Company Response:
State: CA
Zip: 90715
Submitted Via: Web
Date Sent: 2018-01-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-01-15
Issue: Fraud or scam
Subissue:
Consumer Complaint: Coinbase.com removed a total of {$100.00} from my bank account ( {$50.00} from checking and {$50.00} from savings ). This was an unauthorized transaction as I did not create an account with them. The reporting a fraudulent charge option on their site does not work and no one responds to requests. I have already reported it to my bank account.
Company Response:
State: NY
Zip: 10455
Submitted Via: Web
Date Sent: 2018-01-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-01-15
Issue: Other service problem
Subissue:
Consumer Complaint: Unable to log in as 2FA code was lost. Filed initial ticket on XXXX XXXX 2017. Case ID # XXXX. Issue still not resolved. Keep on receiving the same automated responses and instructions, despite me continually telling them that they do n't apply in my case. 4 days sometimes goes by with no communication. Unable to access my account and funds.
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2018-01-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-01-15
Issue: Money was not available when promised
Subissue:
Consumer Complaint: Coinbase transaction placed and was promised on XXXX XXXX XXXX. Bank checking account was charged the transaction amount and fee. Funds were to be available XXXX XXXX XXXX inside of coinbase. Money is still out of my account and the purchase is still not in my wallet. I filed 2 support tickets under two different categories over the last month. XXXX response from company. I have all documents to support this claim and will provide as needed. I have tried to contact customer support but the phone system does not handle financial issues that are sensitive. Support tickets have received zero response. I have reached out to all moderators on their reddit page, also no response. XXXX XXXX - {$1000.00} removed from my account. XXXX XXXX - Estimated delivery date of purchase to Coinbase. XXXX XXXX - Unrelated to dispute I receive an annual e mail from Coinbase in regards to privacy contract and dispute resolution. XXXX XXXX - Based off information in Coinbase email I run a report that shows this transaction as COMPLETED. Which it is not. XXXX XXXX - Support tickets filed and every available alternative to contact exhausted. Was told multiple support tickets by the same person would slow down their response. XXXX XXXX XXXX - Still no contact in regards to dispute. No support ticket showing up in my cases under my support settings inside of XXXX. Still says pending inside of coinbase. Please advise on what approach would be best.
Company Response:
State: MN
Zip: 55448
Submitted Via: Web
Date Sent: 2018-01-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-01-15
Issue: Managing, opening, or closing your mobile wallet account
Subissue:
Consumer Complaint: XXXX suspended my account and froze my money without giving me any explanation. What can I do to restore trading functionality and get my funds back? XXXX case ID is XXXX
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2018-01-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-01-15
Issue: Managing, opening, or closing your mobile wallet account
Subissue:
Consumer Complaint: Trading functionality has been " temporarily suspended '' on my XXXX account since XXXX XXXX 2017, this means my money is stuck in the exchange and there 's nothing I can do to solve this issue. Customer support is not writing back since XX/XX/XXXX. How can I get my money back? Coinbase/XXXX case ID is XXXX
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2018-01-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-01-13
Issue: Money was not available when promised
Subissue:
Consumer Complaint: Coinbase is a huge scam. I have provided all my documents they request to withdraw my funds and still I am not able to do so. Their system to verify the identity is a simple questionaree that never works. I have been tried to withdraw my money for 5 days now and still not able to. I have contacted their support three times as of today ( XX/XX/2018 ) and still just receive automated responses.
Company Response:
State: AZ
Zip: 85281
Submitted Via: Web
Date Sent: 2018-01-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-01-13
Issue: Money was not available when promised
Subissue:
Consumer Complaint: On XX/XX/XXXX I deposited {$500.00} ( Transfer ID : XXXX ) to my account on XXXX, a cryptocurrency exchange owned by Coinbase , Inc., via an ACH bank transfer. Funds were withdrawn from my bank account by XX/XX/XXXX. According to the support page on XXXX ( XXXX XXXX XXXX ) " Bank Account deposits made to XXXX are sent via the ACH bank transfer system, which typically takes 3-5 business days ( which can be as many as 7-10 calendar days, depending on the timing of weekends and other bank holidays ) to complete after initiating a purchase. '' On XX/XX/XXXX my {$500.00} deposit was not credited to my XXXX account and the transaction was still listed as pending. Because the 3-5 business days/ 7-10 calendar days transfer time had lapsed I submitted a request to XXXX inquiring why my deposited funds have not been credited to my account. I received a confirmation email from XXXX on XX/XX/XXXX confirming that they received my request and assigned me a case number of # XXXX. On XX/XX/XXXX my deposit was still listed as pending so I attempted to reach out to XXXX via phone to resolve the matter, but I was informed that phone agents are unable to assist with account-specific inquiries ( XXXX XXXX XXXX ). Additionally, I was informed that submitting another request online will only result in additional delay. As of today, XX/XX/XXXX my deposit has not been credited to my XXXX account, and the transaction is still listed as pending. It has been 35 days since I made my deposit and 22 days since I submitted a request to resolve the matter. Coinbase, Inc./ XXXX has not offered me an explanation as to why my deposit is experiencing an extreme delay or when I can expect my deposit to clear. Due to this delay and lack of support from Coinbase, Inc./ XXXX I am left with no other option except to submit a complaint to the CFPB.
Company Response:
State: UT
Zip: 84106
Submitted Via: Web
Date Sent: 2018-01-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-01-13
Issue: Fraud or scam
Subissue:
Consumer Complaint: Let me begin by stating that I am new to digital currency trading. On XXXX XXXX I purchased 1/2 of an XXXX XXXX for {$140.00} and a few minutes later 1/2 of an XXXX for {$140.00} ( see the attached XXXX bank account statement ) I purchased XXXX through XXXX, an online XXXX wallet. The money was not withdrawn from my checking account until XX/XX/XXXX. On XX/XX/XXXX XXXX finally excecuted one of the transactions for {$120.00}. So they must have pocketed the difference between the amount they debited my account and the price of the currency at the time they processed my order. I have read that many people have had the same experience as me, so it does n't appear to be a coincidence. Also, many people are claiming to have a difficult time getting their money out of XXXX. I would like to get the money I invested back. XXXX 's customer service is a robot. So, speaking to a human being is impossible.
Company Response:
State: FL
Zip: 331XX
Submitted Via: Web
Date Sent: 2018-01-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-01-13
Issue: Other transaction problem
Subissue:
Consumer Complaint: On XX/XX/XXXX the virtual currency Bitcoin Cash was added to Coinbase & XXXX exchange. I had a balance of XXXX $ in my XXXX account at the time Bitcoin Cash was added. The price of Bitcoin Cash quickly began to rise so I put in a market order for XXXX $ at XXXX . ( I shouldve received at least XXXX Bitcoin Cash ) But due to the skyrocketing value my market order went through at a price of {$4700.00} $! ( Netting me XXXX Bitcoin Cash ) So I quickly went to sell because at the next moment Bitcoin Cash was at a price of XXXX $ on XXXX and coinbase ( I was supposed to have total XXXX $ if the trade went through successfully. When I went to sell I received the message post mode only. I even tried transferring XXXX coin from XXXX to coinbase and received the message Bitcoin Cash sells are temporarily disabled the price remained at XXXX $ for about an hour then dropped to XXXX $ still not allowing any sells. The very next day the price chart on coinbase showed that the price of Bitcoin Cash had never even been to XXXX $ and not even to XXXX! So they allowed me to buy at an inflated price and not sell at an inflated price. As a multimillion dollar exchange this was a big red flag for me. So I have emailed and called customer service to try to get some compensation because this has not only resulted in XXXX $ immediate loss due to the malfunction but I have not been able to trade other crypto because they told me to leave my Bitcoin Cash there until a representative can fix the issue but havent given me any time frame to do so. I have screenshots of the price and the message when I tried to sell. It would be the best case scenario if they can honor my sell order of XXXX $ due to their mistake. But if they can not honor the sell then they shouldnt honor the buy either because they go hand in hand with one another and Id like a refund of my XXXX .
Company Response:
State: NY
Zip: 11412
Submitted Via: Web
Date Sent: 2018-01-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A