Date Received: 2023-01-17
Issue: Fraud or scam
Subissue:
Consumer Complaint: This is About the XXXX currency USDC transaction issue that I encountered on XX/XX/2020. As usual, I performed the transfer XXXX USDC from my personal wallet to my USDC wallet in the Coinbase account. The amount of XXXX USDC ( {$500.00} ). The method I used was capturing the QR code of the Wallet. This is the safest method for transferring XXXXcurrency, according to the XXXX creators, since each of the address has it own unique QR code, there is no room for mistake, I did like a XXXX time of transaction using QR code scanning. Right after I made a transfer, I figured something wasn't right, here. My Coinbase USDC wallet wasn't received anything as It supposed to. So I went back to check the transaction detail, I was at shocked when looking at the recipient address was not my address, trying to calm down to figure what's going on, all of the confusion and question lead me back to perform the transfer using QR code capture one more time. Then I found out, there was something odd about the QR code ( on the USDC Coinbase address ) the QR code probably modified so that it all turned to the USDC contract address ( belongs to the USDC creator ). So I contacted the Wallet provider I send the fund from. After the checking, the support of my sender wallet confirm that COINBASE has modified the QR code different than the rest of the wallet provider standard QR code. I have contact the USDC creator, The Coinbase support, for 3 years, they refused yo pay me back XXXX USDC. Ckaiming it was my fault that send the fund to the Contract address, it irreversible. That the fund was lost. I have enough proof to show, it wasn't my fault, it was USDC Creator, in this case the Coinbase has done something that lead to the fund sent to their wallet instead of mine. Transaction detail on Block : XXXX XXXX XXXX I even left the comment in there.
Company Response:
State: TX
Zip: 79107
Submitted Via: Web
Date Sent: 2023-01-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-01-17
Issue: Fraud or scam
Subissue:
Consumer Complaint: I invested {$5.00} XXXX in XXXX. I lost some money but I still had some cash ( {$500.00} ) and two XXXX coins in my XXXX as of XXXX XXXX. I checked my account in late XXXX and I saw that there was XXXX money and assets in my account. I complained and the Coin Base made me go through many questions to identify me after a few days, they recovered my account. I wanted to withdraw everything so I first sold my coins. The website would not allow me to withdraw immediately. I had to wait so I waited two days then went in to ask for a withdrawal and there was no money in the account again. I complained again, but this time they would not help me and said I should report it to the law agencies.! They, Coin base has to be on this scam. I WAS NOT HACKED, they stole my money.!! I need to get a report number so I can claim this loss in my taxes.
Company Response:
State: AZ
Zip: 85308
Submitted Via: Web
Date Sent: 2023-01-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-01-17
Issue: Other transaction problem
Subissue:
Consumer Complaint: So I haven't logged into my Coinbase account since XX/XX/XXXX until XX/XX/XXXX. When I logged into my Coinbase account on XX/XX/XXXX, I noticed it didn't require me to put the code from my XXXX XXXX. As soon as I logged in, I knew something was wrong because my total asset value was at {$0.00}. I panicked and checked the transaction history. It shows someone exchanged all my coins into USD and withdrew them to several different debit accounts from XXXX XXXX XXXX. Total USD stollen is {$57000.00} from XX/XX/XXXX to XX/XX/XXXX. I reported to local police department right away but the officer told me there isn't anything he could do. Talked to Coinbase customer service that night but they only instructed me how to reset my password and XXXX XXXX, and told me to wait. During the talk, I found out the hackers disabled my XXXX XXXX and enabled it on their device. I was wondering how they could easily turn off my Authenticator because it would require ID verification. Coinbase informed me there was no one requesting for ID verification prior to me requesting to regain the access to my Coinbase account. I don't understand how Coinbase allowed someone to disable XXXX so easily without proper verification and also allowed withdrawal of tens and thousands of dollar so quickly and easily. Usually there is withdrawal limit. I lost my life saving and Coinbase assumed that it was my sole responsibility. I believe millions of people are using Coinbase as it's most well know crypto exchange platform. I noticed there are many people whose assets and cash got stollen from Coinbase account. Some lost more than $ XXXX but received only couple hundred dollars for one time credit. Coinbase still made money off of my disaster because as hackers were selling my coins to USD Coinbase still made money from transaction fees. I don't know if they can really say to use their platform at your own risk and if the money gets stolen they are not responsible at all. I even think that they might be part of the hacking as they made money off of the transactions.
Company Response:
State: CA
Zip: 93291
Submitted Via: Web
Date Sent: 2023-01-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-01-17
Issue: Other service problem
Subissue:
Consumer Complaint: Coinbase closed my account back in 2018 for unspecified reasons. Since then, I have been desperately trying to get my transaction history for tax purposes, to no avail. They have sent my transaction history in pdf format, which I can not use for tax purposes, rather than a XXXX or XXXX file. The file they sent also contains no information regarding transactions made on Coinbase Pro ( formerly GDAX ).
Company Response:
State: WI
Zip: XXXXX
Submitted Via: Web
Date Sent: 2023-01-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-01-15
Issue: Other transaction problem
Subissue:
Consumer Complaint: XXXX XXXXXXXX at XXXX my cellphone suddenly stopped working. After numerous calls to my provider ( XXXX XXXX ) and visit at their corporate store i have learned that my number that I owe for XXXX years was stolen from me. Someone ported the number to a different provider without my consent. After more than XXXX of working with the store the number was found but was not restored ( they got it back XXXX XXXX later ) That was just a beginning of my problems. After I got back home I started calling all of my CC and banks to lock my accounts. I went online to change passwords and followed everyone 's procedures. I have been using Coinbase for my cryptocurrency trading. I couldn't log in to my account as I didn't have access to my phone and they need to send me a code as part of XXXX stage verification process. I decided to call their customer service. I reached their automated service and had an option to lock my account by pressing a designated number if for any reason I felt like my account might. have been compromised. I choose the option to lock the account at prompted. I didn't trust the automated system and decided to follow up and call their customer service. I got XXXX of their customer service representatives on the phone and learned that there was some transactions made that day but there was a hold on it for XXXX and nothing have left my account yet. I called about XXXX after the transaction was initiated and was assured by that person that the transaction was still on hold. I requested for my account to be locked then. On their website they have an explanation of what the lock XXXX the account means. It clearly states that all of the devices will be logged out from the account and all pending transactions will be cancelled. After I got my phone back and all of my ac counts secured I called Coinbase ( XX/XX/XXXX ) to unlock my account. I have learned from the agent I spoke with that all of my assets have left my account. Apparently the person I spoke with on the XX/XX/XXXX never locked my account neither the automated system I used!!! After that there was just lie after lie from Coinbase trying to get out of this situation. Is Coinbase involved in that fraud? Was it intentionally left to clear? Why wouldn't they take responsibility for their employee 's mistake? If my account was locked on XX/XX/XXXX as I requested my assets would never have left my account!!! It is their own policy. They are trying to explain that once XXXX transaction hit blockchain it is not reversible ... That I understand!!! my question is why this transaction was allowed to hit the blockchain? It didn't when I called and requested the lock on the account. Coinbase is responsible for my loss and they keep refusing to take responsibility for it!!! I got proof for all of it ... and I requested them to save the recording of my conversation from XX/XX/XXXX with their representative. They have confirmed via email that they have it and XXXX of their supervisors have listened to it and confirmed that I have requested my account to be locked that night. I do not know where to go and how to proceed .... They will not let me speak any person that could make any decisions 's and they keep sending me this emails trying to get out of this. It's been a moth and nothing has been done.
Company Response:
State: NY
Zip: 11704
Submitted Via: Web
Date Sent: 2023-01-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-01-14
Issue: Confusing or missing disclosures
Subissue:
Consumer Complaint: From XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX I have deposited about {$9000.00} to Coinbase account ... but all right I can not take money back! I don't know what's going on? can you help me?
Company Response:
State: FL
Zip: 32211
Submitted Via: Web
Date Sent: 2023-01-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-01-14
Issue: Confusing or missing disclosures
Subissue:
Consumer Complaint: During XX/XX/2022, I invested money on Coinbase for buying cryptocurrency, but several days later when I am trying to withdraw my balance, my account was blocked. Since XXXX until now, I have tried more than XXXX times connect with customer service to solve this problem. All of the assistant told me that their official XXXX team will contact me via email, cuz they said that I can't use my account for buying and selling cryptocurrency anymore but I can transfer my balance to another address. Yesterday, I only got XXXX emails from XXXX team ; first XXXX was telling me that they are still reviewing my account, and I can try to withdraw my balance, when I tried again, my account was still locked. the second email was a survey, whether the problem was solved or not. I am so upset with Coinbase for playing pingpang ball with my question. When I contact their customer service again, its always repeat the same conversation. Their official supporting team didn't do anything helpful with my concern. There are XXXX ETH approximately XXXX dollars in my account. Thats all the money I have, I need to pay the rent, mortgage and live spending. If Coinbase still ignore my concern, its stealing my money, its a hard time for me. Hopefully my concern will be solved when you receive my comments. Please save me! I am still waiting.
Company Response:
State: CA
Zip: 91776
Submitted Via: Web
Date Sent: 2023-01-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-01-13
Issue: Confusing or missing disclosures
Subissue:
Consumer Complaint: The company constantly restricts my account from making withdrawals without legitimate reason after I have repeatedly verified identity andet all requests. Over and over again Coinbase wait until XXXX is added to my XXXX and then decides to inform me that my account is restricted from making withdrawals. However, they don't disclose the reason and I feel it is an abuse of their authority because they don't restrict deposits from being made to account that they are having suspicion with, only when consumer tries to withdraw. After making simple change such as updating an email address or anything. I have had my account restricted over XXXX times in the past year for doing nothing simple transfers that I am allowed to make. Today, again after sending a small purchase of XXXX of {$9.00} on XXXX XXXX to my coinbase account it was accepted then I go to withdraw the XXXX payment to another account and it says I'm again restricted. I have spent hours on the phone with customer service, sent countless emails explaining my issues and yet they continue to restrict my account and place holds for no reason. I ask them if it's identity issue then why is then restriction not removed immediately after I've supplied all the details. They say it has ti be escalated and provide no transparency to the account owner about the nature of the issue. They cause issues with my related debit cards and various XXXX I link anytime they restrict my account and sometimes cause issues with me being locked out of those accounts as well which create havoc when I'm trying to handle business day-to-day. I am sick and tired if this type of treatment and feels unjustly harassed by this large corporation thag feel they can mishandled customers XXXX funds, data, and private information at their whim.
Company Response:
State: CA
Zip: 92544
Submitted Via: Web
Date Sent: 2023-01-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-01-13
Issue: Fraud or scam
Subissue:
Consumer Complaint: On XX/XX/XXXX, I fell victim to a multilayered operation orchestrated by a sophisticated con-artist named XXXX from the delivery company XXXXXXXX XXXX XXXX the Scammer ) and lost XXXX XXXX of my hard-earned funds. I advised Coinbase of this fact on XX/XX/XXXX, and I havent received any satisfactory response so far. I would like to say that I am a XXXX citizen vulnerable to scams, and the financial institution never took that into account. Financial abuse includes criminal conduct such as fraud, theft or obtaining financial advantage by deception. However, what occurs may be improper conduct rather than illegal because : the act or omission may not be deliberately abusive or malicious, or a relationship of trust or dependence may cloud the question of consent. A fair and reasonable investigation would generate the following questions : 1. Did the financial institution make an error by processing the disputed transfers? Clearly, I was the victim of a scam, I was referred to the scammers after expressing an interest in investing online, I realized sometime after making the disputed transfers that everything was a scam and I was being scammed. In providing its services to myself, the financial institution is required by law to exercise the care and skill of a diligent, prudent financial institutioner. In this case, this means the financial institution should not turn a blind eye to known facts pointing to a real possibility their customer ( myself ) is being scammed. In other words, the financial institution 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 I was dealing with a scammer. 2. Did the financial institution breach any other obligation it owed to the complainant? I appreciate it is very challenging for front line financial institution staff to be alert to facts suggesting a real possibility a customer is being scammed. However, it was apparent instinct that transfers of the sort were not okay. As any prudent Banker should have doubted the circumstances and therefore contacted me, if for the sake of the argument they did indeed contact me and they were not confident in what to ask or tell myself, they could have transferred me to another employee ( such as a manager or someone from the financial institution fraud area, ) who could have questioned me further and had an appropriate discussion with me about the risk of being scammed. If I had still insisted on going ahead with transferring the disputed transfers after such a conversation, the financial institution would not be responsible for any resulting loss. I am a victim of Fraud as I was under a lot of pressure and coerced through very sophisticated methods specifically created by these criminals. I reiterate that there was no trading account and no trading actually took place. This was all a scam and the recipient simply pocketed the money.
Company Response:
State: CA
Zip: 92557
Submitted Via: Web
Date Sent: 2023-01-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-01-10
Issue: Fraud or scam
Subissue:
Consumer Complaint: I sent to Coinbase the following transactions, and they were sent through Coinbase to XXXX and XXXX. XXXX and XXXX were fraudulent broker sites. User XXXX XXXX Timestamp Spot Price Currency Subtotal Total ( inclusive of fees ) Fees Notes XXXX USD {$980.00} {$1000.00} XXXX Bought XXXX XXXX for {$1000.00} USD XXXX USD {$9400.00} {$9600.00} XXXX Bought XXXX XXXX for {$9600.00} USD XXXX USD {$1200.00} {$1200.00} XXXX Bought XXXX XXXX for {$1200.00} USD XXXX USD {$19000.00} {$19000.00} XXXX Bought XXXX XXXX for {$19000.00} USD XXXX USD {$970.00} {$990.00} XXXX Bought XXXX XXXX for {$990.00} USD XXXX USD {$490.00} {$500.00} XXXX Bought XXXX XXXX for {$500.00} USD XXXX USD {$44000.00} {$44000.00} XXXX Bought XXXX XXXX for {$44000.00} USD XXXX USD {$13000.00} {$13000.00} XXXX Bought XXXX XXXX for {$13000.00} USD XXXX USD {$40000.00} {$40000.00} XXXX Bought XXXX XXXX for {$40000.00} USD XXXX USD {$16000.00} {$17000.00} XXXX Bought XXXX XXXX for {$17000.00} USD XXXX USD {$17000.00} {$17000.00} XXXX Bought XXXX XXXX for {$17000.00} USD XXXX USD {$29000.00} {$30000.00} XXXX Bought XXXX XXXX for {$30000.00} USD XXXX USD {$12000.00} {$12000.00} XXXX Bought XXXX XXXX for {$12000.00} USD XXXX USD {$940.00} {$960.00} XXXX Converted XXXX XXXX to XXXX XXXX XXXX USD {$1000.00} {$1000.00} XXXX Converted XXXX ETH to XXXX XXXX {$210000.00} {$210000.00}
Company Response:
State: UT
Zip: XXXXX
Submitted Via: Web
Date Sent: 2023-01-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A