Date Received: 2023-01-29
Issue: Other transaction problem
Subissue:
Consumer Complaint: I deposited funds to my Coinbase account on XX/XX/XXXX and was promised that the funds would be available for exchange or withdrawal on XX/XX/XXXX. However, my account was later restricted due to suspicious activity and I was asked to provide ID verification. After doing so, Coinbase informed me that I had two accounts with them, one of which was my brother 's account with different first name and SSN however they verified and then lifted restrictions on my account. Despite this, my restrictions were lifted but my funds of {$12000.00} are still on hold. I have been informed that my account is under review and I have to wait until XX/XX/XXXX to access my funds. I have reported this issue through multiple case tickets, but have yet to receive a response. CASE ID : XXXX, XXXX, XXXX, XXXX.
Company Response:
State: GA
Zip: 30041
Submitted Via: Web
Date Sent: 2023-01-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-01-28
Issue: Fraud or scam
Subissue:
Consumer Complaint: Commencing on or around XX/XX/2022, I fell victim to a multilayered scam operation orchestrated by XXXX ( the Company ), with the design, development, manufacturing, promoting, marketing, distributing, labeling, and/or sale of illegal and outright fraudulent investment services, all of which aim at contributing to the goal of robbing and defrauding clients through a predetermined cycle of client losses to gains in the equivalent of XXXX $ through Coinbase Apps.
Company Response:
State: MS
Zip: 391XX
Submitted Via: Web
Date Sent: 2023-01-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-01-28
Issue: Fraud or scam
Subissue:
Consumer Complaint: I have been in the cryptocurrency market for 2 years from the middle of XXXX to XXXX. However, they did let me sign up for the app which is Coinbase, and now they locked my account because I do not have SSN. They stated that they only needed my Driver 's license and my passport. Besides, they are scammers because when the dips dropped down I could not buy it as they say its a system error.
Company Response:
State: CA
Zip: 92804
Submitted Via: Web
Date Sent: 2023-01-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-01-29
Issue: Other transaction problem
Subissue:
Consumer Complaint: Hello my name is XXXX XXXX. I have been a long time user for Coinbase. I have recently been depositing XXXX then converting into XXXX and then sending that money to my external wallet account with " XXXX XXXX '' which is another broker. These transactions were sent through the XXXX network which I had no problem, successfully doing it three times and on the fourth time later within the month Coinbase stopped my transaction from completing and restricted my account. This was because they think it puts me or my account in risk of scam for " security reasons '' which it is not, I am simply transferring money to my other brokerage account with XXXX XXXX and have been doing so perfectly fine for the last 3 transactions successfully. My complaint is to stop the restriction on my account because the transfer is safe. There are several others that I know who have gone through the same issue and needs to stop the account restriction. ( 3 ) Successful transactions to XXXX XXXX were on : XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Coinbase sent me the following in which I do not agree because it is a safe verified transfer to my account to XXXX XXXX. = " According to our records, the blockchain address you attempted to send to XXXX is one that Coinbase can not facilitate transactions to for security reasons. Coinbase has disabled your ability to send crypto from Coinbase. This feature will not be re-enabled until XXXX at the earliest. Due to the current restrictions on your account, if you would like to send this crypto from Coinbase, you must first convert the crypto to cash funds and then cash out those funds to your verified bank account. For your security, your account is not currently eligible to create a purchase order. As such, your account is not currently eligible to link/restore a payment method. We've already escalated your case to a team who will be completing a review of your purchasing eligibility shortly. Please note, this will not affect your ability to sell and cash out to your bank. You will receive a notification email if we're able to restore your purchasing ability. While these reviews are typically completed within 4-5 business days, it can sometimes take longer. For security reasons, Coinbase can not guarantee eligibility for every account. To ensure that you avoid any potential future cryptocurrency scams, please read this article in our Help Center XXXX XXXX XXXX XXXX XXXX '' I please ask Coinbase to stop my restriction on my account as soon as possible and let me continue to conduct my business with my money. The transfers are sent to my own verified account on XXXX XXXX. It is safe and verified successful for the past 3 transactions. It is a huge burden to me because of the long wait time and not guaranteed as stated by Coinbase 's response to my restriction at earliest until XX/XX/XXXX. It is very important to conduct these transfers ( XXXX ) as soon as possible due to it being crucial to my business. Please help, thank you.
Company Response:
State: CA
Zip: 94014
Submitted Via: Web
Date Sent: 2023-01-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-01-26
Issue: Fraud or scam
Subissue:
Consumer Complaint: On XX/XX/XXXX, my cell phone service, provided by XXXXXXXX XXXX stopped working. I later found that my XXXX card was hacked and someone was getting 2 factor ID texts while they illegally had access to my phone service. An attempt to take {$3000.00} from my XXXXXXXX XXXX account was thwarted due to my quick actions. However, I was not so lucky when it came to my Coinbase account. The individual who hacked my XXXX card was able to access my Coinbase account which based on the market at that time was worth approximately {$2500.00}. Coinbase replied to me stating that they are not liable for the unauthorized transactions. They provided a detailed record of the unauthorized transactions, yet they stated that it would not be possible to recover the assets. Coinbase gave me detailed instructions to recover the remaining assets in my account. This process consisted of several " id selfies '' and creating a new account. On XX/XX/XXXX Coinbase notified me that the remaining assets were sent to my new account. My new account was now worth approximately {$15.00}. I had several smaller amounts of less known cryptocurrencies in my account, but for purposes of this complaint, I have provided below the largest portion of my investment that has gone completely missing : XXXX XXXX coins - worth approximately {$1500.00} XXXX XXXX coins - worth approximately {$600.00} XXXX XXXX coins - worth approximately {$650.00} These assets should be refunded due to the unauthorized activity. Coinbase should be able to recover these assets by conducting an investigation. I am requesting a full restoration of my account to the assets held prior to XX/XX/XXXX at the current market rate.
Company Response:
State: NJ
Zip: 088XX
Submitted Via: Web
Date Sent: 2023-01-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-01-27
Issue: Unexpected or other fees
Subissue:
Consumer Complaint: Coinbase debit card transaction got reversed on the XXXX of XXXX By the XXXX, my account was not credited the amount reversed and Coinbase XXXX every XXXX of my cases trying to get the XXXX money posted every single day since then. Today they revoked my premium phone support and stopped responding to emails. Card happen to be fdic insured and I'm sure they got that too and refusing to help. Went on reddit about this too and post is not appropriate to repost here in government site. Crypto is money nowadays and holding money for other folks makes you a bank unless you stop saving the money and make it disappear when customers wants it back names you a thief like XXXX and his cohorts with the XXXX art during the world war. Shame on you.
Company Response:
State: TX
Zip: 78744
Submitted Via: Web
Date Sent: 2023-01-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-01-26
Issue: Other transaction problem
Subissue:
Consumer Complaint: I'm not sure if I'm in the correct category. Company : Coinbase Inc. XXXX XXXX XXXX. # XXXX XXXX XXXXXXXX XXXX XXXXXXXX I have had an account with Coinbase for many years, but in the past few months they have created a situation that makes it next to impossible to get my funds out. They say, " It's increased security for your good! '' That would be fine if it was even close to workable. They repeatedly lock/block me from using my account for no reason. You can never reach anyone above the first level of support and are always promised the next level up will reach out via email. Those emails never come! A XXXX of weeks ago I spent XXXX hours on the phone desperately trying to get my account unlocked. The individual insisted I needed to change my phone setting to get a clear picture. Each time I'm locked out I need to take a selfie holding a piece of paper with the statement, " For Coinbase Verification Only '', while holding my drivers license. While this may seem simple it is far from simple as you need to have the drivers license and your face in focus. I couldn't find a setting he repeatedly told me to change so I asked what type of phone he had. He sated he had an XXXX, I also have an XXXX. I asked him to open his camera settings and guide me to the setting that required changing. He replied, " I don't have that information! '' That's just XXXX of many examples of how they refuse to help their customers. After about XXXX tried he stated he had an exceptable photo, but the system refused it because of too many attempts. I waited a XXXX of days and tried to log in, couldn't and waited a XXXX more. No email arrived ever. I kept trying. I finally got in yesterday and was able to move some assests out to other accounts. This morning I woke up and discovered I was once again locked out of my account and the wa an email with instructions on getting unlocked. I had to take photos of front and back or drivers license and a selfie. All photos were crystal clear, but their system once again rejected them. I called and spent almost an hour on the phone going round and round with the guy. He was supposedly back and forth with the next level support person. He finally told me to wait for an email from the higher support which would arrive in a week or so. This attitude toward customers where personal finances are affected is irresponsible and should not be allowed. Please get my account unlocked so I can move my funds elsewhere and close the account.
Company Response:
State: WI
Zip: 545XX
Submitted Via: Web
Date Sent: 2023-01-26
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-01-26
Issue: Fraud or scam
Subissue:
Consumer Complaint: I was trying to get my money out of Coinbase Wallet. I transferred to XXXX XXXX as I was not having any luck getting it out of Coinbase. I received a phone call stating they were from the company and going to help me. He sent me a form, I mistakenly filled it out and they stole over XXXX. I filed a police report, Ive been in contact with a secret service agent, but no updates or contact. I work for a bank. If they got me, they getting dozens of people daily. Any help is appreciated The date was back in XXXX of 2022.
Company Response:
State: SC
Zip: 29730
Submitted Via: Web
Date Sent: 2023-01-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-01-25
Issue: Other transaction problem
Subissue:
Consumer Complaint: On XX/XX/2022, my coinbase account was hacked, and approximately {$1000.00} dollars of cryptocurrencies were sold and the money transferred out. Original total investment in the account was roughly {$6000.00}, but current prices at the time was {$1000.00}. Coinbase has never resolved the problem, and though it's supposed to be insured, says they do not reimburse for hacked accounts. They only reimburse for " theft ''. Not sure how else one can steal money without hacking. They will do nothing, and to-date, I am still unable to get access to the account. It does not send me an e-mail to change my password, or access it. They send me the same repeated e-mail over and over when I reach out to them about checking my spam mail, but it is NOT in there. Can you PLEASE help me get a reimbursement?
Company Response:
State: NC
Zip: 27312
Submitted Via: Web
Date Sent: 2023-01-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-01-25
Issue: Fraud or scam
Subissue:
Consumer Complaint: Here is the initial complaint I submitted to the FBI on XX/XX/XXXX of 2022 : " At around XXXX on Saturday XX/XX/XXXX I received an email from Coinbase stating that my password on my account had been changed. I woke up around XXXX and tried to log into my account and could not because the password was incorrect ( so it had been changed ). I called Coinbase immediately and had them lock my account. At this point my funds were still in my account. I was then instructed by a Coinbase employee over the phone to start an account recovery process. I completed the instruction and than was told that I would have to wait up to XXXX hours before I could log into my account. Sunday morning I received an email saying my account was ready for log in but when I tried to log in I still could not. I than spend several hours on the phone with a Coinbase employee trying to get access. On Monday morning XX/XX/XXXX I again spoke to a Coinbase employee about getting back into my account. It is at this time that this employee informed me that all my crypto currencies had been transferred out of my account on Sunday morning the XXXX of XXXX around XXXX. This Coinbase employee also informed me that even though this account hack was not my fault and it was their own account recovery process that unlocked my account and allowed the hacker to steal all my crypto currency that Coinbase was not responsible or liable for my funds being stolen. On the XXXX of XXXX I filed a statement with Coinbase 's investigation team and them recommended that I file a report at this location. '' After I was finally able to access my account again, I found that the dates that the Coinbase employee had given me about the time my funds were stolen were incorrect. I then filed a complaint with their complaints department. This complaints department instructed me that they were stolen on XX/XX/XXXX. When I sent pictures from my account, clearly showing them that this was not the case, they had nothing to say. They also later told me that if I had had two-factor authentication with a Google Authenticator XXXX this could have been prevented due to the fact that the hacker would have needed physical possession of my device to get the access codes. When I explained to them that I did, in fact, have two-factor authentication with a Google Authenticator , they again ignored me and responded with what seemed like boilerplate explanations about how they are not responsible for any lost or stolen funds. I have included the emails and pictures showing all this. It seems very clear to me that Coinbase is responsible for the loss of my funds, as I had taken every security measure they required. They have clearly contradicted themselves several times, which leads me to believe that they are trying to cover up something for which they know they are responsible.
Company Response:
State: OH
Zip: 430XX
Submitted Via: Web
Date Sent: 2023-01-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A