Date Received: 2023-01-10
Issue: Money was not available when promised
Subissue:
Consumer Complaint: Wired money into coinbase from my wellsfargo account. From Coinbase, a Fraudulent wire transfer was sent of XXXX. Called XXXX and advised that the transfer to coinbase was legitimate. Called coinbase and advised they do not do fraud claims.
Company Response:
State: CA
Zip: 94501
Submitted Via: Web
Date Sent: 2023-01-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-01-10
Issue: Other service problem
Subissue:
Consumer Complaint: I contacted Coinbase via their web site and I was not allowed to call them as they do not allow phone conversations, so they chatted with me online through their system. I went through their verification process asn they told me that the information provided was not good enough, so they sent me a link to click on to givwe them more information, and it would not work when i clicked on the link. So i tried to get a hold of the again and they have blocked me from communicating with them moving forward.
Company Response:
State: CA
Zip: 95624
Submitted Via: Web
Date Sent: 2023-01-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-01-11
Issue: Fraud or scam
Subissue:
Consumer Complaint: Hi There, My Coinbase Pro account was compromised through CoinBase Pro API attack on XX/XX/2022. {$180000.00} in USD along with {$11000.00} in XXXX XXXX was drained ( wash or contra traded ) from my account. A total of {$190000.00} was " wash '' or " contra '' traded against another/other Coinbase account to drain my account. Wash trading is illegal, Coinbase allowed it to happen. This the {$190000.00} ( nearly {$200000.00} ) represents my life savings. Money saved over 20 years of sacrifices and savings. To execute this attack the attacker needs to have an account ( s ) on Coinbase to wash trade against my account, by forcing my account to Buy High and Sell low against trades to the attackers accounts, there by draining my account. This high frequency wash trading generated {$18000.00} in Trading Fee for Coinbase. Coinbase XXXX is supposed to be a custodian of our funds, especially $ XXXX Dollars, which should be safe guarded against fraudulent access and use. Coinbase is also supposed to carry insurance to safeguard and return illegally lost USD funds. Coinbase XXXX is also supposed to have safe guards against wash trading or contra trading. It did neither. In fact Coinbase XXXX made {$18000.00} facilitating another or other Coinbase accounts unauthorized access and trading from my account to drain my account balance. Coinbase is also supposed to have XXXX ( Know your customer ) on all of its customers. Coinbase know who executed this attack and who drained my account. At no point was my userID/Password or authentication compromised. My 3 Factor authentication was not compromised. No funds were directly withdrawn from my account or sent anywhere. CoinBase has refused to share any details or restore my account to its status prior to the attack. Coinbase XXXX refused to let me sell the XXXX coin the attacker left in my account. Causing me great financial and mental anguish for a months. The case number with Coinbase is : Case # XXXX
Company Response:
State: MI
Zip: 480XX
Submitted Via: Web
Date Sent: 2023-01-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-01-10
Issue: Other transaction problem
Subissue:
Consumer Complaint: On XXXX I sent {$2300.00} worth of XXXX XXXX from my XXXX XXXX to my Coinbase account. The transaction showed that it was successful but I never got access to the XXXX in my Coinbase account. I later found out that Coinbase does not suppport XXXX so I would never get access to the roughly XXXX XXXXXXXX that I sent. This did not make sense to me since the Transaction said it was successful. By working with XXXX support I learned that I had sent the XXXX to a private Coinbase wallet that had private keys that only Coinbase has access to. XXXX instructed me to ask Coinbase to simply send the XXXX back to me at my XXXX address ( the source address for the transaction ) since Coinbase does not support that type of XXXX XXXX. Coinbase flatly refuses to help me and they keep acting like the money is just gone. Well the money had to go somewhere and I want it back. I know that happens to other customers they serve because I have seen similar complaints on the web. Why was the transaction successfull if Coinbase does not support it? I still have access to the Coinbase address I sent the XXXX to. If I do subsequent transactions to that address will it over write the transaction I did by mistake and I will loose access to that money forever? Coinbase will not answer these questions they just keep saying they don't support XXXX and I should be more careful about what I send them next time. The XXXX ID ( transaction ID ) is : XXXX The Coinbase case ID was XXXX. The XXXX case ID was XXXX. I am still learning how to work with XXXX XXXX. I have done other transactions that were not correct and the transaction fails ( as it should ). I am simply asking Coinbase to send my XXXX back to me at my XXXX account if they can't process it internally. They need to send my case to a server expert instead of their law department.
Company Response:
State: NE
Zip: 68046
Submitted Via: Web
Date Sent: 2023-01-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-01-07
Issue: Fraud or scam
Subissue:
Consumer Complaint: I engaged with Coinbase XXXX XXXX and created an e-wallet.. I got engaged with the scamming company with somebody on XXXX, I clicked on the advertisement and after 20minutes later I got a phone call from someone with XXXX. They told me that I could make large amounts of profits if I deposit cryptocurrency on their platform, they manipulated the trades so that every client will lose money. Then I transferred my funds from my Post bank account to Coinbase at their instructions starting with small amounts, they kept calling me trying to convince me to deposit more, and after one week I transfer XXXX extra and another XXXX two weeks later totaling around XXXX ( XXXX at that time ) my money was transfer via wire transfer. They tried to get more money from them, but after I realized it was a scam I stopped all transfers. I hold Coinbase accountable for not having a contact/wallet database sufficient enough to identify risky merchants, and for not warning me about the potential danger I'm engaging with the fraudulent wallets.
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2023-03-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-01-04
Issue: Fraud or scam
Subissue:
Consumer Complaint: Commencing on or around XX/XX/2022, I fell victim to a multi-layered scam operation run by XXXX which involved me making deposits for a total amount of XXXX XXXX and XXXX XXXX from my Coinbase account to fraudulent investment firms.
Company Response:
State: IL
Zip: 60098
Submitted Via: Web
Date Sent: 2023-01-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-01-04
Issue: Money was not available when promised
Subissue:
Consumer Complaint: I created a coinbase account. I verified my identity, XXXX XXXX I did a XXXX currency recharge from my bank without problem. I made a change from XXXX XXXX XXXX without problem. Now they have my money withheld, they won't let me send the XXXX outside of Coinbase, they have restricted my sending, and they don't tell me why, they don't give me a solution, and they have my XXXX in their possession. Please help
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2023-01-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-01-01
Issue: Problem with a purchase shown on your statement
Subissue: Card was charged for something you did not purchase with the card
Consumer Complaint: On XX/XX/XXXX at XXXXXXXX XXXX on XXXX XXXX XXXX, XXXX FL, XXXX, I attempted to use my Coinbase-issued XXXX XXXX card at a XXXX XXXX ATM machine . Coinbase advertises that their debit card holders can withdraw money from most ATM machines and the only fee is the ATM fee. I attempted to withdraw {$900.00} in which my Coinbase account had over {$1400.00} at the time of the withdraw. Upon attempting the withdraw my account with charged for the {$900.00} but the money didn't come out of the ATM. When I contacted customer support 30 minutes after the withdraw they assured me the money had already been credited back to my account but it wasn't showing up. Coinbase has never denied that the money didn't come out of the ATM. It is now XX/XX/XXXX when I am writing this complaint. I have spent 7 hours+ on the phone with their customer support in over 20 different phone calls. They refuse to help me, their support is constantly hanging up on me even though I'm calm. I have been back and forth with emails 15 times or so and they are incompetent and refuse to look at my account to verify if what I'm telling them is true. It is the worst company I've ever done business with, let alone a financial company.
Company Response:
State: FL
Zip: 32244
Submitted Via: Web
Date Sent: 2023-01-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-01-01
Issue: Other transaction problem
Subissue:
Consumer Complaint: My coinbase account was locked for nor reason by Coinbase. I have been in touch with their support which has been of no help. They won't give me a reason, just that they need to verify my identity using a selfie and biometrics. I have done this multiple times and they either respond with we will get back in 14 business only to say pictures were blurry. They have said this multiple times and one time they claimed they didn't receive pictures. I have email communication documents to the above. When this started there was XXXX in the account, since XXXX have gone down the account has dropped below XXXX, I can't even access it to check my holdings or portfolio. This has gone on for months and still I have no reason for their action, I can only say that it was locked right after the proof of stake with XXXX in XXXX, I had staked XXXX with them.
Company Response:
State: IL
Zip: 60517
Submitted Via: Web
Date Sent: 2023-01-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-12-31
Issue: Fraud or scam
Subissue:
Consumer Complaint: Coinbase acquired XXXX wallet in XX/XX/2021. I held some cryptocurrency assets in my XXXX XXXX. I have followed XXXX 's instructions and those of Coinbase on how to transfer these assets to a Coinbase wallet, including entering the full security key onto Coinbase 's app which they said was required to retrieve the funds, but at the end of the process I had no assets in either wallet. Coinbase then said they were closing the case as it was an engineering problem and I had to wait for an XXXX update. I do not think this is satisfactory or proper conduct for a financial institution. They showed zero regard for my funds, or their whereabouts, or the consequences of my losing access to them. The assets have declined in value significantly since I lost access to them. They were worth around {$4000.00} and are less than half that now. I have no idea if this is deliberate fraud, but it is a painful and unfair financial loss to bear and also hurtful to be treated as though assets they supposedly hold on my behalf are none of their responsibility - especially when the sale of XXXX apparently made huge profits.
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2022-12-31
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A