Date Received: 2023-12-28
Issue: Other service problem
Subissue:
Consumer Complaint: The Company is Coinbase. About a year ana half ago I opened a Coinbase acct. I transferred through time {$500.00} into this acct. Our computers and phones were hacked and the FBI told us to get a new computer and new phones. We did this and contacted Coinbase to update our information. It has been XXXX weeks with me contacting Coinbase numerous times. Finally, they responded telling me I could not change the phone number and email address on my account. I should open a new account and balances would be transferred to the new acct. I did that and notified them of my new acct. They never responded and after a couple of weeks I went onto the Coinbase Website and both of the accts had disappeared along with my money.
Company Response:
State: NC
Zip: 280XX
Submitted Via: Web
Date Sent: 2023-12-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-28
Issue: Other transaction problem
Subissue:
Consumer Complaint: I called Coinbase Support on XX/XX/XXXXXXXX regarding a charge I disputed with them on XX/XX/XXXXXXXX regarding a merchant called XXXX XXXX and a payment of {$39.00} that I used from my Coinbase Card using XXXX as the funds. I did not receive this product and informed them I wanted to dispute this transaction. When I called today ( XX/XX/XXXX ) I asked support about my investigation as I have not heard from them in the last 10 business days regarding my funds being returned. I was informed that the investigation was still on going and could take up to 45 days possible up to 90. After the call in dawned to me that I should still be owned a credit within the 10 days as they continued the investigation. I have checked all my spam emails and I did not receive an email from them regarding the status of my update after the 10 days, nor did I have the ability to view my case, except that my ticket within the app said closed, but nothing more than that.
Company Response:
State: IN
Zip: 46545
Submitted Via: Web
Date Sent: 2023-12-28
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-27
Issue: Other transaction problem
Subissue:
Consumer Complaint: I deposited {$25000.00} into my coinbase on XX/XX/XXXX with reference code XXXX and i bought ETH with the total amount and almost immediately they locked my funds. I was not able to use them at all. I have requested they make my asset available for months and once they claimed the funds were available, they disabled my account from being able to send or withdraw that money. I was told i need to sell my ETH they told me i can only withdraw cash and not XXXX, so i was forced to take a {$7000.00} lose because by this time ETH value already droped, For almost 5 months now i have been trying to use/take out my money ( XXXX usd balance ) but they refuse to help me and their customer service claims they can not help. They tell you to wait for your ticket to be answered but they close the ticket without getting back to me, Essentially coinbase has stolen my {$25000.00} XXXX dollars and will not release it back to me. I am unable to add my bank account or my debit card to cashout my remaining {$18000.00}, they keep saying i can only withraw my asset into my bank account which is previously linked to coinbase, but i keep keeping them it is impossible to withdraw funds into a closed bank account, the bank account link to coinbase in the past is no longer active and there is no way i can send my funds to a closed account... they have refused to allow me withdraw my fund to the bank or debit card of my choice, I did not violate their terms and have had this coinbase account opened for years. I really need this money. The worst part is they keep telling me they are not allowed to tell my why I cant have mmy money i deposited on a verified account. and they keep promising to get back to me for the past 5 months On top of that, i have a family to take care of and coinbase has made my kids suffer.
Company Response:
State: CA
Zip: 92545
Submitted Via: Web
Date Sent: 2023-12-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-27
Issue: Other transaction problem
Subissue:
Consumer Complaint: On XX/XX/, my Coinbase account was hacked. To the best of my knowledge, I was not phished or scammed, the attackers were simply able to gain access to my account. My account was secured by XXXX XXXX, and had all my personal information linked to it ( cell phone number, address, bank account number ). Though my accounts activity log, I found there were almost one hundred login-attempts on my account, originating from a XXXX IP address. After gaining access to my account, the hackers sold all of my holdings, added their own bank account to my Coinbase account, and sent all of my money to their added bank account. I only realized something was wrong after Coinbase locked my account - implying Coinbase knew something was wrong, but acted too slowly to stop the money from leaving my account. The total amount that left my account was about {$12000.00}. Upon contacting Coinbase support, they claimed no liability, on the grounds that my credentials were compromised. Even if that were true, they offered no explanation as to how the attackers were able to bypass my XXXX from a foreign IP address and add a new bank account without locking my account before the money was moved, or flagging the security obvious concerns.
Company Response:
State: CA
Zip: 90703
Submitted Via: Web
Date Sent: 2023-12-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-27
Issue: Improper use of your report
Subissue: Reporting company used your report improperly
Consumer Complaint: On XXXX XXXX, XXXX, my consumer credit report from XXXX XXXX XXXX XXXX and Coinbase had violated the Privacy Act of 1974, 15 USC 6805 ( a ) Disclosure required At the time of establishing a customer relationship with a consumer and not less than annually during the continuation of such relationship, a financial institution shall provide a clear and conspicuous disclosure to such consumer, in writing or in electronic form or other form permitted by the regulations prescribed under section 6804 of this title, of such financial institutions policies and practices with respect to ( 1 ) disclosing nonpublic personal information to affiliates and nonaffiliated third parties, consistent with section 6802 of this title, including the categories of information that may be disclosed ; ( 2 ) disclosing nonpublic personal information of persons who have ceased to be customers of the financial institution ; and ( 3 ) protecting the nonpublic personal information of consumers. ( b ) Regulations Disclosures required by subsection ( a ) shall be made in accordance with the regulations prescribed under section 6804 of this title. ( c ) Information to be included The disclosure required by subsection ( a ) shall include ( 1 ) the policies and practices of the institution with respect to disclosing nonpublic personal information to nonaffiliated third parties, other than agents of the institution, consistent with section 6802 of this title, and including ( A ) the categories of persons to whom the information is or may be disclosed, other than the persons to whom the information may be provided pursuant to section 6802 ( e ) of this title ; and ( B ) the policies and practices of the institution with respect to disclosing of nonpublic personal information of persons who have ceased to be customers of the financial institution ; ( 2 ) the categories of nonpublic personal information that are collected by the financial institution ; ( 3 ) the policies that the institution maintains to protect the confidentiality and security of nonpublic personal information in accordance with section 6801 of this title ; and ( 4 ) the disclosures required, if any, under section 1681a ( d ) ( 2 ) ( A ) ( iii ) of this title. ( d ) Exemption for certified public accountants ( 1 ) In general The disclosure requirements of subsection ( a ) do not apply to any person, to the extent that the person is ( A ) a certified public accountant ; ( B ) certified or licensed for such purpose by a State ; and ( C ) subject to any provision of law, rule, or regulation issued by a legislative or regulatory body of the State, including rules of professional conduct or ethics, that prohibits disclosure of nonpublic personal information without the knowing and expressed consent of the consumer. ( 2 ) Limitation Nothing in this subsection shall be construed to exempt or otherwise exclude any financial institution that is affiliated or becomes affiliated with a certified public accountant described in paragraph ( 1 ) from any provision of this section. ( 3 ) Definitions For purposes of this subsection, the term State means any State or territory of the United States, the District of Columbia, Puerto Rico, Guam, American Samoa, the Trust Territory of the Pacific Islands, the Virgin Islands, or the Northern Mariana Islands. ( e ) Model forms ( 1 ) In general The agencies referred to in section 6804 ( a ) ( 1 ) of this title shall jointly develop a model form which may be used, at the option of the financial institution, for the provision of disclosures under this section. ( 2 ) Format A model form developed under paragraph ( 1 ) shall ( A ) be comprehensible to consumers, with a clear format and design ; ( B ) provide for clear and conspicuous disclosures ; ( C ) enable consumers easily to identify the sharing practices of a financial institution and to compare privacy practices among financial institutions ; and ( D ) be succinct, and use an easily readable type font. ( 3 ) Timing A model form required to be developed by this subsection shall be issued in proposed form for public comment not later than 180 days after October 13, 2006. ( 4 ) Safe harbor Any financial institution that elects to provide the model form developed by the agencies under this subsection shall be deemed to be in compliance with the disclosures required under this section. ( f ) Exception to annual notice requirement A financial institution that ( 1 ) provides nonpublic personal information only in accordance with the provisions of subsection ( b ) ( 2 ) or ( e ) of section 6802 of th is title or regulations prescribed under section 6804 ( b ) of this title, and ( 2 ) has not changed its policies and practices with regard to disclosing nonpublic personal information from the policies and practices that were disclosed in the most recent disclosure sent to consumers in accordance with this section, shall not be required to provide an annual disclosure under this section until such time as the financial institution fails to comply with any criteria described in paragraph ( 1 ) or ( 2 ). ( Pub. L. 106102, title V, 503, Nov. 12, 1999, 113 Stat. 1439 ; Pub. L. 109351, title VI, 609, title VII, 728, Oct. 13, 2006, 120 Stat. 1983, 2003 ; Pub. L. 11494, div. G, title LXXV, 75001, Dec. 4, 2015, 129 Stat. 1787. ) 16 CFR 313.7 Form of opt out notice to consumers ; opt out methods. ( a ) ( 1 ) Form of opt out notice. If you are required to provide an opt out notice under 313.10 ( a ), you must provide a clear and conspicuous notice to each of your consumers that accurately explains the right to opt out under that section. The notice must state : ( i ) That you disclose or reserve the right to disclose nonpublic personal information about your consumer to a nonaffiliated third party ; ( ii ) That the consumer has the right to opt out of that disclosure; and ( iii ) A reasonable means by which the consumer may exercise the opt out right. ( 2 ) Examples ( i ) Adequate opt out notice. You provide adequate notice that the consumer can opt out of the disclosure of nonpublic personal information to a nonaffiliated third party if you : ( A ) Identify all of the categories of nonpublic personal information that you disclose or reserve the right to disclose, and all of the categories of nonaffiliated third parties to which you disclose the information, as described in 313.6 ( a ) ( 2 ) and ( 3 ) and state that the consumer can opt out of the disclosure of that information; and ( B ) Identify the financial products or services that the consumer obtains from you, either singly or jointly, to which the opt out direction would apply. ( ii ) Reasonable opt out means. You provide a reasonable means to exercise an opt out right if you : ( A ) Designate check-off boxes in a prominent position on the relevant forms with the opt out notice ; ( B ) Include a reply form that includes the address to which the form should be mailed ; or ( C ) Provide an electronic means to opt out, such as a form that can be sent via electronic mail or a process at your web site, if the consumer agrees to the electronic delivery of information ; or ( D ) Provide a toll-free telephone number that consumers may call to opt out. ( iii ) Unreasonable opt out means. You do not provide a reasonable means of opting out if : ( A ) The only means of opting out is for the consumer to write his or her own letter to exercise that opt out right; or ( B ) The only means of opting out as described in any notice subsequent to the initial notice is to use a check-off box that you provided with the initial notice but did not include with the subsequent notice. ( iv ) Specific opt out means. You may require each consumer to opt out through a specific means, as long as that means is reasonable for that consumer. ( b ) Same form as initial notice permitted. You may provide the opt out notice together with or on the same written or electronic form as the initial notice you provide in accordance with 313.4. ( c ) Initial notice required when opt out notice delivered subsequent to initial notice. If you provide the opt out notice later than required for the initial notice in accordance with 313.4, you must also include a copy of the initial notice with the opt out notice in writing or, if the consumer agrees, electronically. ( d ) Joint relationships. ( 1 ) If two or more consumers jointly obtain a financial product or service from you, you may provide a single opt out notice, unless one or more of those consumers requests a separate opt out notice. Your opt out notice must explain how you will treat an opt out direction by a joint consumer ( as explained in paragraph ( d ) ( 5 ) ( ii ) of this section ). ( 2 ) Any of the joint consumers may exercise the right to opt out. You may either : ( i ) Treat an opt out direction by a joint consumer as applying to all of the associated joint consumers; or ( ii ) Permit each joint consumer to opt out separately. ( 3 ) If you permit each joint consumer to opt out separately, you must permit one of the joint consumers to opt out on behalf of all of the joint consumers. ( 4 ) You may not require all joint consumers to opt out before you implement any opt out direction. ( XXXX ) XXXX. If XXXX and XXXX have a joint credit card account with you and arrange for you to send statements to XXXX 's address, you may do any of the following, but you must explain in your opt out notice which opt out policy you will follow : ( i ) Send a single opt out notice to XXXX 's address, but you must accept an opt out direction from either XXXX or XXXX. ( ii ) Treat an opt out direction by either XXXX or XXXX as applying to the entire account. If you do so, and XXXX opts out, you XXXX not require XXXX to opt out as well before implementing XXXX 's opt out direction. ( iii ) Permit XXXX and XXXX to make different opt out directions. If you do so, ( A ) You must permit XXXX and XXXX to opt out for each other; ( B ) If both opt out, you must permit both to notify you in a single response ( such as on a form or through a telephone call ) ; and ( C ) If XXXX opts out and XXXX does not, you XXXX only disclose nonpublic personal information about XXXX, but not about XXXX and not about XXXX and XXXX jointly. ( XXXX ) Time to comply with opt out. You must comply with a consumer 's opt out direction as soon as reasonably practicable after you receive it. ( f ) Continuing right to opt out. A consumer may exercise the right to opt out at any time. ( g ) Duration of consumer 's opt out direction. ( 1 ) A consumer 's direction to opt out under this section is effective until the consumer revokes it in writing or, if the consumer agrees, electronically. ( 2 ) When a customer relationship terminates, the customer 's opt out direction continues to apply to the nonpublic personal information that you collected during or related to that relationship. If the individual subsequently establishes a new customer relationship with you, the opt out direction that applied to the former relationship does not apply to the new relationship. ( h ) Delivery. When you are required to deliver an opt out notice by this section, you must deliver it according to 313.9. ( i ) Model privacy form. Pursuant to 313.2 ( a ) of this part, a model privacy form that meets the notice content requirements of this section is included in appendix A of this part. [ 65 FR 33677, May 24, 2000, as amended at 74 FR 62966, Dec. 1, 2009 ] 16 CFR 313 Privacy of Consumer 16 CFR 433.2 Preservation of consumers ' claims and defenses, unfair or deceptive acts or practices. In connection with any sale or lease of goods or services to consumers, in or affecting commerce as commerce is defined in the Federal Trade Commission Act, it is an unfair or deceptive act or practice within the meaning of section 5 of that Act for a seller, directly or indirectly, to : ( a ) Take or receive a consumer credit contract which fails to contain the following provision in at least ten point, bold face, type : NOTICE ANY HOLDER OF THIS CONSUMER CREDIT CONTRACT IS SUBJECT TO ALL CLAIMS AND DEFENSES WHICH THE DEBTOR COULD ASSERT AGAINST THE SELLER OF GOODS OR SERVICES OBTAINED PURSUANT HERETO OR WITH THE PROCEEDS HEREOF. RECOVERY HEREUNDER BY THE DEBTOR SHALL NOT EXCEED AMOUNTS PAID BY THE DEBTOR HEREUNDER. or, ( b ) Accept, as full or partial payment for such sale or lease, the proceeds of any purchase money loan ( as purchase money loan is defined herein ), unless any consumer credit contract made in connection with such purchase money loan contains the following provision in at least ten point, bold face, type : NOTICE ANY HOLDER OF THIS CONSUMER CREDIT CONTRACT IS SUBJECT TO ALL CLAIMS AND DEFENSES WHICH THE DEBTOR COULD ASSERT AGAINST THE SELLER OF GOODS OR SERVICES OBTAINED WITH THE PROCEEDS HEREOF. RECOVERY HEREUNDER BY THE DEBTOR SHALL NOT EXCEED AMOUNTS PAID BY THE DEBTOR HEREUNDER. [ 40 FR 53506, Nov. 18, 1975 ; 40 FR 58131, Dec. 15, 1975 ] 16 CFR 433.3 Exemption of sellers taking or receiving open end consumer credit contracts before November 1, 1977 from requirements of 433.2 ( a ). ( a ) Any seller who has taken or received an open end consumer credit contract before November 1, 1977, shall be exempt from the requirements of 16 CFR part 433 with respect to such contract provided the contract does not cut off consumers ' claims and defenses. ( b ) Definitions. The following definitions apply to this exemption : ( 1 ) All pertinent definitions contained in 16 CFR 433.1. ( 2 ) Open end consumer credit contract : a consumer credit contract pursuant to which open end credit is extended. ( 3 ) Open end credit : consumer credit extended on an account pursuant to a plan under which a creditor may permit an applicant to make purchases or make loans, from time to time, directly from the creditor or indirectly by use of a credit card, check, or other device, as the plan may provide. The term does not include negotiated advances under an open-end real estate mortgage or a letter of credit. ( 4 ) Contract which does not cut off consumers ' claims and defenses : A consumer credit contract which does not constitute or contain a negotiable instrument, or contain any waiver, limitation, term, or condition which has the effect of limiting a consumer 's right to assert against any holder of the contract all legally sufficient claims and defenses which the consumer could assert against the seller of goods or services purchased pursuant to the contract. [ 42 FR 19490, Apr. 14, 1977, as amended at 42 FR 46510, Sept. 16, 1977 ] 16 CFR 424.1Unfair or deceptive acts or practices. In connection with the sale or offering for sale by retail food stores of food, grocery products or other merchandise to consumers in or affecting commerce as commerce is defined in section 4 of the Federal Trade Commission Act, 15 U.S.C. 44, it is an unfair or deceptive act or practice in violation of section 5 ( a ) ( 1 ) of the Federal Trade Commission Act, 15 U.S.C. 45 ( a ) ( 1 ), to offer any such products for sale at a stated price, by means of an advertisement disseminated in an area served by any stores which are covered by the advertisement, if those stores do not have the advertised products in stock and readily available to customers during the effective period of the advertisement, unless the advertisement clearly and adequately discloses that supplies of the advertised products are limited or the advertised products are available only at some outlets. [ 54 FR 35467, Aug. 28, 1989, as amended at 79 FR 70056, Nov. 25, 2014 ]
Company Response:
State: NJ
Zip: 07111
Submitted Via: Web
Date Sent: 2023-12-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-28
Issue: Other service problem
Subissue:
Consumer Complaint: I've been a customer of Coinbase since XXXX and never had any problems. On XX/XX/XXXX they locked my account stating that my account was under review. They disabled my ability to trade. Noting has changed on my side that could be the reason for this and all my identity and other information has been in place with them for years. Crypto currencies are highly volatile and locking my account takes away my ability to manage my risk. I would never have opened an account with coinbase and traded crypto currencies if I knew they would " lock me in '' to trades like this when the value of those assets is changing 20 % per day and I can't get out. I could understand if they suspended deposits and withdrawals for a few days while they verified information if something had changed, but this is totally unacceptable. I contacted the customer service on XX/XX/XXXX and they said they have everything they need but there is no resolution. I contacted them again on the same day, still no resolution.
Company Response:
State: CA
Zip: 95134
Submitted Via: Web
Date Sent: 2023-12-28
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-26
Issue: Fraud or scam
Subissue:
Consumer Complaint: Commencing on or about XXXX, 2022, I fell victim to two multi-layered scam operations run by XXXX and a company posing as XXXX which involved me making deposits for a total amount of XXXX XXXX from my XXXX account to XXXX at the instructions of the scammers. In providing its services, financial institutions as registered and licensed Payment Service Providers, are required by law to exercise the care and skill of a diligent, prudent banker. In this case, this means that the payment service provider should not turn a blind eye to known facts pointing to a real possibility that their customer is scammer or is involved in potentially fraudulent activity. XXXX issued International Standards on Combating Money Laundering and the Financing of XXXX and Proliferation ( the XXXX Recommendations ), aimed at setting minimum standards for action in different countries, to ensure that XXXX efforts are consistent internationally. There is a long-standing obligation upon financial institutions to have necessary procedures in place to ensure the detection and prevention of money-laundering, XXXX funding and other illegal activities. In this case, it is perfectly obvious that XXXX could have, and should have, utilised various risk-based examination procedures and techniques, all of which are within their purview and legal obligation, and could have entirely prevented this disastrous outcome. Given that their client owner of the wallet bellow was an active participant in the movement of my money, which eventually ended up with the Company, XXXX have not exercised their duties to identify this suspicions scheme in a timely manner. XXXX
Company Response:
State: MO
Zip: 64151
Submitted Via: Web
Date Sent: 2023-12-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-26
Issue: Fraud or scam
Subissue:
Consumer Complaint: y The Consumer Financial Protection Bureau ( CFPB ) XXXX XXXX XXXX XXXX, Washington DC XXXX XX/XX/XXXX This is to complain against the Coinbase. URGENCY : HIGH IMPORTANCE : HIGH [ WITHOUT PREJUDICE ] I would like to draw your attention to XX/XX/XXXXXXXX - I had sent my complaint letter to Coinbase, in which I clearly stated how this scam has affected me personally, psychologically and financially. I am afraid I have had to go through so much " bureaucracy '' thus far in order to catch their attention to my concerns. This really doesn't show their complaints department in a good light, to say the least ; and certainly, does not contribute to my overall satisfaction and peace of mind. My complaint is against the bank that did not do its job properly ( could not prevent/foreseen fraud and could not conduct a proper investigation ) and not against the vulnerable customer who fell victim and lost all the savings due to the misconduct of the bank. I feel very distressed and cheated, all because no one took action immediately and practice their duty of care, therefore I only request what I believe to be rightfully mine, as all institutions were more than negligent in protecting my account and handling the complaints. I comprehensively provided explanations and proof to my claim, even so, Coinbase never acknowledge my complaint, therefore, I have approached you CFPB and I would like to receive your assistance on this matter. General Obligation : Commencing on or around XX/XX/XXXX, I fell victim to a multi-layered scam operation run by XXXX XXXX XXXX which involved me making deposits for a total amount of XXXX USD from my Coinbase account to fraudulent investment firm ( s ). 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 XXXXay 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. Upon identification of such unusual or suspicious activity, it is crucial that the relevant staff member adequately describe the factors making an activity or transaction suspicious, thoroughly depict the extent and nature of this activity and properly communicate to the customer that such activity meets the relevant criteria of fraud. In providing its services to a customer, a financial institution is required by law to exercise the care and skill of a diligent, prudent banker. In this case, this means that the payment service provider should not turn a blind eye to known facts pointing to a real possibility that their customer is being scammed. In other words, Coinbase must have had special knowledge of what was occurring or been alerted to a real possibility of fraud taking place. The financial institution must have known or reasonably ought to have known that I was dealing with a scammer. Granted, there is room for diversity of view insofar as reasonableness is concerned. Indeed, there is a sense in which the standard of care of the reasonable person involves in its application a subjective element. However, it must be remembered that the correct test is always reasonable care in all circumstances, not average care. The fact that most people behave in a certain way may be good evidence that the conduct is reasonable, but this is not necessarily the case. Although reasonableness is a very fluid concept, all of the evidence suggests that Coinbase did not foresee the fraud and disregarded even the most obvious dangers in this respect. Situations do tend to repeat themselves and it is advisable to examine previous outcomes to see how the standard of the reasonable person should be applied, and that lessons can be learnt from the errors of the past. Apropos of the fluidity of the concept of reasonableness, all Coinbase has done in this regard is set up a dichotomy of having or not having the legal obligation under consideration, however, that does not go one-inch toward explaining why various regulatory authorities, has maintained that financial institutions can, and should, protect consumers using their systems, advanced technologies, and rich experience. Coinbase is obliged to take some action if it is sufficiently aware of a real possibility that a fraud XXXX be being perpetuated. If you don't question its customers instructions or raise the possibility of a scam with the customer in these circumstances, it may be liable if the red flags indicate the customer is : particularly vulnerable, or if the possibility of fraud was serious or real, not just suspected.
Company Response:
State: GA
Zip: 30066
Submitted Via: Web
Date Sent: 2024-01-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-25
Issue: Fraud or scam
Subissue:
Consumer Complaint: I became a victim of an investment scam. Please see attached letter for more details.
Company Response:
State: MD
Zip: 20904
Submitted Via: Web
Date Sent: 2023-12-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-24
Issue: Managing an account
Subissue: Funds not handled or disbursed as instructed
Consumer Complaint: Coinbase closed my account due to misc reasons, and are holding XXXX in it and not releasing it. I have reached out for months with no avail. They wont release my money, since its stuck in their vault
Company Response:
State: CA
Zip: 956XX
Submitted Via: Web
Date Sent: 2023-12-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A