Date Received: 2018-01-11
Issue: Money was not available when promised
Subissue:
Consumer Complaint: Coinbase, Inc ( www.coinbase.com, XXXX ) clearly states that the incoming wire transfer takes 2-3 business days to get credited. After 4 business days, contacted Coinbase support but no help from Coinbase. Today marks the 8th day and the wire transfer amount has not been credited to my account yet. Tried to contact the support by email, and XXXX but no response at all. Here is the timeline : *Amount Transferred : $ XXXX *Date Initiated : XX/XX/XXXX* *Date Completed Wire Transfer from XXXX XXXX : XX/XX/XXXX* *Name of Sending Bank : XXXX XXXX XXXX XXXX XXXX *Personal Name : XXXX XXXX *XXXX Number : XXXX *Case Opened : XX/XX/XXXX* *Coinbase Case Number : XXXX Waiting to get helped in this matter. Never ever going to use coinbase again. This has been a shear frustration!!
Company Response:
State: OR
Zip: 97006
Submitted Via: Web
Date Sent: 2018-01-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-01-11
Issue: Money was not available when promised
Subissue:
Consumer Complaint: Dear agent, I 'm writing to complain a issue with Coinbase.Inc ( https : //www.coinbase.com ). I made multiple purchase of Bitcoin through coinbase on XX/XX/XXXX. And there 's one transaction there of the amount {$300.00} did went through, but they gave me the correctly amount of Bitcoin to my Coinbase account. I think that was due to my bank 's fraud protection ( they see multiple buys in a short time as a suspicious activity ). So my bank charged the {$300.00} back. Coinbase realized this issue and lock downed my account ( with still more than {$2000.00} dollar USD in their XXXX account ), and I can not buy/sell or access my XXXX account after that. I called my bank tell my bank to accept any charge from Coinbase, and opened a support ticket on coinbase, stating that it was an issue with my bank and I do want to pay them!!! As for now, 1 month has passed, the issue has still not been resolved. I do n't see charges on my bank account, and I can not access my coinbase account and the fund in coinbase. It feels like they are taking my fund as a hostage. I do like to pay the amount I own them, but they are not doing anything to fix that. I tried to call them twice a week and get the boxed reply everytime, I even asked do I need to provide any additional payment method, they said no. I just have to wait and they keep my account locked and my fund in there. I think this can really be called fraud now. Please help! My coinbase account email is : XXXX The support ticket is : XXXX XXXX XXXX XXXX Best, XXXX XXXX
Company Response:
State: NJ
Zip: 073XX
Submitted Via: Web
Date Sent: 2018-01-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-01-11
Issue: Money was not available when promised
Subissue:
Consumer Complaint: Hello, I just sent my money ( {$15000.00} ) to XXXX XXXX XXXX to deposit in my coinbase account to trade digital currency ( X/X/2018 XXXX ) as far as i know the money i sent via XXXX XXXX supposed to deposit into my coinbase account in 2-3 business days and the money is still not deposited in my coinbase account i guess the coinbase company could n't verify my identity so i would like to my money back but i could n't contact to coinbase company because they use automated answering machine. please investigate this case thank you this is the an account i sent bank name : XXXX XXXX XXXX bank address : XXXX XXXX XXXX XXXX XXXX XXXX XXXX, NY XXXX Rounting : XXXX Account : XXXX recipient name : Coinbase, Inc recipient address : XXXX XXXX XXXX, # XXXX, XXXX XXXX CA XXXX Reffence : XXXX
Company Response:
State: CA
Zip: 92780
Submitted Via: Web
Date Sent: 2018-01-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-01-11
Issue: Other transaction problem
Subissue:
Consumer Complaint: I wired $XXXX USD to my Coinbase account. Coinbase did not post the money and says they returned it. It was never returned. I have spoken with my bank at length and they have completed their investigation. They say Coinbase took my money and never sent it back. I have written to Coinbase 8 times, they only send automated responses. -The full name on the account the wire was sent from: (private) -The amount of the wire: $XXXX -The date the wire was sent: XX/XX/XXXX -The federal reference # or IMAD # for the wire: XXXX This is the original email from Coinbase: From: Coinbase [mailto:no-XXXX] Sent: Tuesday, XX/XX/XXXX XXXX XXXX To: XXXX XXXX Subject: Wire reversed [Coinbase] Hi XXXX, You recently sent a wire to fund your Coinbase or XXXX account for $XXXX USD. Unfortunately, we are not able to apply this wire to your account due to a name mismatch and will be returning this wire back to your bank. Please allow us 7 business days for processing. To prevent wire returns in the future, please ensure wire deposits are sent from a bank account that matches the legal name of your Coinbase or XXXX account. For more information, visit the Bank Wire Deposit section of our payment support page. If haven't received your funds after 7 business days, please email XXXX for assistance. Respectfully, The Coinbase Team
Company Response:
State: AZ
Zip: 85009
Submitted Via: Web
Date Sent: 2018-01-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-01-11
Issue: Money was not available when promised
Subissue:
Consumer Complaint: Coinbase is a digital currency exchange. They promised all customers that held any amount of bitcoin on their exchange on XX/XX/XXXX that they would be credited with the same amount of bitcoin cash by XX/XX/XXXX. Customers had a choice of storing their bitcoin in a " digital wallet '' or in Coinbase 's secure " multi-sig vault. '' Coinbase pushed customers to store their funds in the " multi-sig vault, '' as the vault was advertised as extremely safe. I had 1.9+ bitcoin 's stored in Coinbase 's multi-sig vault on XX/XX/XXXX. On XX/XX/XXXX, Coinbase added bitcoin cash to their exchange and credited all customers who stored their bitcoin in a digital wallet on coinbase 's exchange on XX/XX/XXXX. However, they did not credit any customer who stored their bitcoin in coinbase 's multi-sig vault. On XX/XX/XXXX, coinbase emailed me stating that they have credited everyone, accept people who stored their bitcoin cash in the multi-sig vault. They stated that they are having technical issues and their engineer team is working on the issues. They provided no timetable as to when I will receive my bitcoin cash. I have emailed Coinbase 4 times ( without receiving a response ) and I 've spoken to customer service reps/managers at least 5 times since XX/XX/XXXX. Nobody can provide me an answer as to when I will have my money and they just state that the issue is being worked on. On XX/XX/XXXX and XX/XX/XXXX, bitcoin cash was worth between {$3500.00} and {$5000.00} a coin. Today, bitcoin cash is worth {$2600.00} a coin. Coinbase created an unfair market and allowed customers to sell their bitcoin cash on XX/XX/XXXX and XX/XX/XXXX for {$3500.00} to {$5000.00}, whereas, I was not provided this opportunity. Coinbase has essentially stolen my bitcoin cash and my ability to make money trading other digital currencies. I was planning on selling my coins as soon as I had access to them. If I would have been credited with my bitcoin cash on XX/XX/XXXX, just like the majority of customers, I would have sold at {$5000.00} a coin, for a total of {$9500.00}. If I was credited with my bitcoin cash today, and sold, I would receive {$4900.00}. Coinbase has cost me at least {$4600.00}, due to their unethical business practices. Coinbase has not provided any additional information in 23 days, and they will not release my money to me. Before coinbase added Bitcoin cash and credited customers storing their bitcoin cash in a digital wallet on coinbase, they knew they would not be able to credit customers who stored their bitcoin cash in the multi-sig vault. Yet, Coinbase made the unethical decision to add the digital currency to the exchange and to credit some customers. This is an unfair business practice and very shady.
Company Response:
State: CO
Zip: 802XX
Submitted Via: Web
Date Sent: 2018-01-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-01-11
Issue: Money was not available when promised
Subissue:
Consumer Complaint: XX/XX/XXXX-XX/XX/XXXX Attempted to verify ID on Coinbase, through their website and mobile App XX/XX/XXXX ID is verified. 4 valid documents, 13 failed documents shown. XX/XX/XXXX Wire Deposit {$20000.00} from XXXX account. Verified Deposit of {$19000.00} XX/XX/XXXX Attempt to use the money. Buying disabled. Withdraw disabled. Contact Support. Coinbase is unable to verify my ID. There seems to be a verification process for depositing money and different verification for withdrawing/buying money. XX/XX/XXXX Case is Escalated and duplicated Case # XXXX and Case # XXXX XX/XX/XXXX-XX/XX/XXXX Account is unable to verify my ID. Contact support multiple times, send in additional documents. Unable to resolve. Coinbase seems to be holding my money and not releasing the funds.
Company Response:
State: TX
Zip: 761XX
Submitted Via: Web
Date Sent: 2018-01-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-01-11
Issue: Other transaction problem
Subissue:
Consumer Complaint: On XXXX XXXX, XXXX, I transferred XXXX euro to Coinbase. XXXX XXXX, XXXX, I received notification from Coinbase that they were rejecting the deposit and returning the funds to my bank within 2 business days. XXXX XXXX, email from Coinbase Support says it has located the transfer and that it has been returned to the originating bank. XXXX XXXX, XXXX : From Coinbase : " I can confirm this transfer has been properly documented. Our engineers and payments team are working to resolve. '' XXXX XXXX, XXXX : from Coinbase : " Our payments team processed a large batch of reversals over the last couple days. I can see your reversal has started, and will likely complete early this coming week. '' XXXX XXXX, XXXX : I send an email to Coinbase offering to alternative payments methods to get my funds back to me. I receive no response. XXXX XXXX, XXXX From Coinbase : " We have confirmed this to be an issue with our system and are working to resolve it as soon as possible. Your case has been recorded for review by an expert. '' I have sent roughly 50 emails in total since XXXX XXXX, XXXX in order to get the above four responses from Coinbase. Even though they acknowledge the error, I have yet to receive my funds back from them. I simply would like the immediate return of my XXXX euros as promised by them.
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2018-01-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-01-11
Issue: Money was not available when promised
Subissue:
Consumer Complaint: On XX/XX/XXXX17 I initiated a sell of digital currency with Coinbase.com in the amount of {$3300.00}. It has been almost a month and I have yet to receive the money from the sale. I have sent numerous emails and have yet to receive a reply.
Company Response:
State: LA
Zip: 70127
Submitted Via: Web
Date Sent: 2018-01-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-01-11
Issue: Other transaction problem
Subissue:
Consumer Complaint: On XXXX XXXX, I transferred {$4900.00} in BTC ( bitcoin ) from my secure wallet to my Coinbase Account. This transaction is still pending 9 days later and Coin Base will not reply to any support tickets I create concerning this problem. Additionally, when I click view transaction on Coin Base 's website, there is a message saying that the transaction hash can not be found. I would like a member of the Coin Base support staff to either correct this issue or contact me in order to have it corrected. Thanks
Company Response:
State: TN
Zip: 38016
Submitted Via: Web
Date Sent: 2018-01-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-01-11
Issue: Money was not available when promised
Subissue:
Consumer Complaint: XX/XX/XXXX XXXX XXXX - Sold XXXX Bitcoin to CoinBase at a price of {$16000.00} per coin. {$1200.00} - {$18.00} ( fee ) means that {$1200.00} USD was supposed to be deposited into my linked bank account by XX/XX/XXXX. XX/XX/XXXX - Opened up support ticket and only received automated response confirming ticket had been made. XX/XX/XXXX - Direct messaged CoinBaseSupport on XXXX, explaining my situation and asking for an update on my funds, with no response. XX/XX/XXXX - Direct messaged CoinBase Admins on XXXX, who are all verified employees of CoinBase, with no response. XX/XX/XXXX - Complaint with CFPB filed.
Company Response:
State: UT
Zip: XXXXX
Submitted Via: Web
Date Sent: 2018-01-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A