Date Received: 2018-01-10
Issue: Fraud or scam
Subissue:
Consumer Complaint: Complaint about company - Coinbase Coinbase is a digital currency exchange, headquartered in XXXX XXXX. It is one of the biggest digital currency exchanges, which registers 40,000 new users everyday. I made a SEPA deposit of XXXX EUR to my Coinbase account on the XX/XX/XXXX. This is approximately {$1300.00}. The intention was to make an international deposit to my Coinbase account, to purchase crypto-currencies. On XX/XX/XXXX, coinbase sent an email to me, saying that they were unable to clear my accounts ability to receive deposits at this point of time. For this reason, the funds will be returned back to me within 1-2 business days. On top of that, my account was temporarily disabled for no apparent reason from date of the SEPA deposit payment. So I was not able able to login. Due to this money not being returned to me, I have financially struggled in making ends meet and living on a minimum. I have also lost out on huge potential trading profits. I have emailed XXXX, XXXX, which supposedly worked at one point but do not anymore as the emails bounced back on me I have emailed on the coinbase customer portal - https : //support.coinbase.comXXXX. Here is says that priority is given to people with payment issue and account lock-outs. Two problems which I have had. All I get is an automated useless email with ticket numbers. The automated emails say that due to high volume, it will take several days to respond to the issue. In addition I have tried calling them, resulting in phone bills which costing me hundreds of pounds. I dont even get to speak to someone. I get automatically hung up on due to high volume calls even if I call within the first second of opening times. In addition I emailed XXXXXXXXXXXX, XXXXXXXXXXXX and XXXXXXXXXXXX CEO of Coinbase ). These emails seem to work as I have not had an emails bounce back to me. But I have got no reply. In all my emails I have tried to be polite and patient. But now I feel, enough is enough and it has become a ridiculous, not acceptable, pathethic situation. I am tired of reading that coinbase will reply within several days due to high volume. Coinbase need to block the thousands of new people joining everyday and focus on supporting their existing customers. Why should existing customers suffer for the new. No other digital currency exchange is providing this exceptionally poor service that Coinbase is providing. You can not hold and not return customers money for such long periods of time for no reason Stay away from Coinbase. Customer service is non existent. There is no way you can reach someone and talk to them. the best you will get is automated emails. Thousands of people are in the same situation as me.
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2018-01-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-01-10
Issue: Money was not available when promised
Subissue:
Consumer Complaint: I signed up for Coinbase early around 2013, and have recently been active. Ive placed orders over {$300.00}, and gave the company all of my sensitive information : Drivers license, phone number, bank account info, and so on JUST to verify my account. I opened XXXX account, and while I was trying to confirm my identity, it suspended me for NO REASON. It kicked me out and wouldnt let me back into XXXX. Thats fine, but why would you SUSPEND my Coinbase account too?!? I am literally in awe. I wrote in Support ticket, have been waiting for weeks. Nothing. If youre in the business to scam accounts like mine to keep small chump change, youre doing it wrong. I understand risk and identity theft protection, but this is ridiculous. Im coming in from the same XXXX device id, same ssl fingerprints, same IP Ive used to log in to my Coinbase account, WHICH is still logged in and you should probably still HAVE my most recent XXXX. Why did you suspend me? Separately, you had emailed me to confirm my bank account name which youve somehow ironically used my Nickname to verify, which doesnt make sense. Why would you use my nickname to verify my bank account as opposed to the legal name Ive provided you ON THE ACCOUNT? You also had asked me to verify my identity to which I followed your link that leads me to nowhere your account is already verified what am I supposed to do next? Contact support? Wait for a year like some people did? This is ridiculous.
Company Response:
State: CA
Zip: 941XX
Submitted Via: Web
Date Sent: 2018-01-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-01-10
Issue: Unexpected or other fees
Subissue:
Consumer Complaint: I traded bitcoin on Coinbase and did several transactions. However, since last month I was suddenly asked to provide SSN when I do any action like sell or withdraw. I do n't have SSN but Coinbase allows me to do trade in the beginning. For now, I still have XXXX $ in my USD account and I can not withdraw my money. I contacted Coinbase since last month but no one reply.
Company Response:
State: CA
Zip: 92612
Submitted Via: Web
Date Sent: 2018-01-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-01-10
Issue: Other transaction problem
Subissue:
Consumer Complaint: Hello, after browsing various websites, it seems Coinbase are notorious for holding your money and not actively helping consumers withdraw their funds. I wish to withdraw my funds from coinbase, having followed instructions, paying for transfer fees, but I am still unable to withdraw. I have also contacted Coinbase via email, but am now not being replied too.
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2018-01-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-01-10
Issue: Money was not available when promised
Subissue:
Consumer Complaint: I made a wire transfer to COINBSAE INC on XXXX XXXX, 2017 in the amount of USD XXXX. Below is the email that we received from COINBASE stating that our wire transfer will be sent back to my account in 3-5 business days. It been over 2 months and I have not yet received my money back. I have been to my bank and they requested wire recall three times and COINBASE bank did not respond to wire transfer recall despite they told us that they have rejected our wire. Here are the details of the wire transfer XX/XX/17 WT FED#XXXX XXXX XXXX XXXX=COINBASE INC SRF# XXXX TRN#XXXX RFB# $XXXX On XXXX XXXX, 2017 at XXXX PST "Coinbase Support" wrote: Hi there, Thanks for your interest in wiring funds to your Coinbase account. We recently received a wire from a name that didnt match the name on your Coinbase account. Unfortunately, in these cases we are unable to accept the wire, so we will return the wire to the account it was sent from. This reversal process typically takes 3-5 business days, but may take longer. I apologize for the frustration with this. To avoid any difficulty moving forward, please send future wires from an account that matches the name on your Coinbase account. Please feel free to try the wire again from a different account in your name. Thanks for your understanding and patience, and for choosing Coinbase! Thanks, XXXX
Company Response:
State: NJ
Zip: 073XX
Submitted Via: Web
Date Sent: 2018-01-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-01-10
Issue: Money was not available when promised
Subissue:
Consumer Complaint: I sent a domestic wire transfer to Coinbase Inc on XX/XX/XXXX 2018 for {$2500.00} from my verified and linked checking account. The funds have since been deducted from my checking account and show up as a past transfer. I have already completed numerous transactions using said account ( and linked debit card ) including a previous wire deposit not long ago ( which only took 1 business day ). Despite being more than 1 week later, the funds have not been made available in my corresponding Coinbase account. After opening a support ticket, I simply got a canned/generated response asking for the details of my transfer ( which were already included in the support ticket submitted ). This is simply a delay tactic in my eyes. This is an unacceptable procure of handing customer funds, especially given that the wire transfer was successfully sent 1 week ago and paying more for to have the funds available in a timely manner.
Company Response:
State: CA
Zip: 91748
Submitted Via: Web
Date Sent: 2018-01-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-01-11
Issue: Other service problem
Subissue:
Consumer Complaint: On XX/XX/XXXX my account on cryptocurrency exchange gdax.com owned by CoinBase Inc. was temporally suspended without any explanation why and what happened to cause my suspension ( see pic 1 ). Right the way I contacted their customer support email that they show on their website but for my surprise that email is disabled. ( see pic 3 ). Found another email and emailed it on XX/XX/XXXX. ( see pic 6 ) After I did not receive any response from them via email tried to contact their customer service phone XXXX. After multiple calls even after being on hold for over an hour and a half I was not able to reach any of their representatives ( see pic 7 ). At the moment of suspension my account on gdax.com had : Lightcoin XXXX coins worth {$2800.00} on XX/XX/XXXX Ethereum XXXX coins worth {$5600.00} on XX/XX/XXXX US dollars about {$3500.00} ( See pic 2 ) Recently I found out that I 'm not able to add bank account for withdrawal of my money ( {$4000.00} ) from coinbase.com also owned by CoinBase Inc. ( see pic 5 ) I can not believe the biggest cryptocurrency exchange in the US has such a poor customer service.From what I read online in reviews and forums hundreds of people are in the same situation as me and their money put as a hostage of CoinBase Inc. Denying access to funds for thousands maybe millions of dollars to me and many more customers out there should be unacceptable but it seems like it is becoming norm for Coinbase Inc.
Company Response:
State: IL
Zip: 60004
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 Tuesday X/X/2018 I made a {$5000.00} wire transfer to Coinbase, Inc. That wire transfer was a deposit to my personal coinbase account. The coinbase website states incoming wire transfers to take 1 business day to process funds to your account, which has been the case for previous wire transfer deposits made. I have sent emails to coinbase support, started a support case, and called multiple times, all resulting in the absolute worst costumer service I 've ever experienced. No one " has access '' to the information they need to answer my question, it needs to be escalated. I have had zero communication with anyone from this " escalation team ''. The money is not in my bank account, and not in my coinbase account. My bank has confirmed the coinbase XXXX XXXX has received the {$5000.00} wire the same day I sent it, X/X/2018. I have read so many other online complaints of people going through the same nightmarish circumstances.
Company Response:
State: NV
Zip: 89503
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/XXXX, a fork of Bitcoin called Bitcoin Cash occurred. Coinbase.com promised their customers that anyone storing Bitcoin on Coinbase on XX/XX/XXXX would receive the equivalent number of Bitcoin Cash when they rolled it out in XX/XX/XXXX. I held XXXX Bitcoin in Coinbase on XX/XX/XXXX. But Coinbase has not credited my account as they promised. They immediately closed my original support ticket with a generic response that had nothing to do with my case. My second support ticket ( Case # XXXX ) is two weeks old with no response. I have XXXX to the XXXX Coinbase support account ( not to mention the CEO XXXX XXXX ) on multiple occasions with no response. At today 's price, my XXXX Bitcoin Cash would be worth more than {$11000.00}. As Coinbase refuses to respond or acknowledge the issue, I can only assume they have no intention of paying what is owed. Dates : I purchase XXXX BTC on XX/XX/XXXX, another BTC on XX/XX/XXXX, and XXXX BTC XX/XX/XXXX. These assets were held in Coinbase Vault during the time of the fork.
Company Response:
State: TX
Zip: 77598
Submitted Via: Web
Date Sent: 2018-01-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-01-10
Issue: Money was not available when promised
Subissue:
Consumer Complaint: Dear sirs : I have used XXXX for buying and selling XXXX for over a year. For no apparent reason I have been shut out for over XXXX months now. Can not buy or sell, or get my money out. When I try to buy or sell a note comes up saying I need to provide more identification information. Yet, after re-loading my drivers license several times, and receiving an email from XXXX saying " Successful ' the orange XXXX note keeps coming up XXXX more identification '. My recent letter to XXXX is attached in this complaint. No response from Coinbase re my letter or anything. I WANT MY MONEY BACK!
Company Response:
State: CO
Zip: 814XX
Submitted Via: Web
Date Sent: 2018-01-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A