Date Received: 2022-12-21
Issue: Money was not available when promised
Subissue:
Consumer Complaint: XX/XX/2022. I transferred funds from my personal bank account to Coinbase.com of {$3500.00} to buy XXXX to transfer to my business partner for a transaction. Coinbase received the money next day and immediately held my funds saying they were doing so for my security and protection. I verified my identity and they claimed after deducting {$100.00} for fees to convert to XXXX, that they would not release my funds for sending until XX/XX/XXXX. I protested that they needed to refund as I would use another method of payment as the transaction was time sensitive. They then responded they would be holding my funds until XX/XX/XXXX. I called multiple times and contacted them via live chat and email and they assured me they were short staffed and it would take them anywhere from XXXX days to investigate. I asked them to refund me instead as I would need to go elsewhere. I had to borrow money from my other business partner to send payment via another method from their competitor.I have requested repeatedly for them to cancel my transaction and refund me to no avail. I have spoken to other clients that I do business with and they informed me the same thing happened to them and they have lost thousands of dollars to Coinbase. There is no reason for them to sit on my hard earned funds. I know my recipient quite well and I am more in danger of being robbed by Coinbase.
Company Response:
State: FL
Zip: 33027
Submitted Via: Web
Date Sent: 2022-12-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-12-22
Issue: Money was not available when promised
Subissue:
Consumer Complaint: Good Afternoon, I have been a Coinbase customer for more than a year now. An account of mine has been blocked for more than 6 months and It won't let me access it. I have changed all my passwords, the card is correct and everything seems fine. I'm desperate and I don't know who to turn to. I need for my account to be unblocked, so I can access my money. I need it to pay my bills. I've written more than a XXXX e-mails and I always get generic responses. Can someone please help me? I have approximately XXXX. COINBASE CASE : # XXXX Thank you, I await a reply.
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2022-12-22
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-12-20
Issue: Fraud or scam
Subissue:
Consumer Complaint: Commencing on or about XX/XX/2021, I fell victim to a multilayered scam operation orchestrated by the company XXXX ( the XXXX ). The total amount of XXXX USD was transferred from my wallet utilizing their services.
Company Response:
State: WA
Zip: 99301
Submitted Via: Web
Date Sent: 2022-12-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-12-20
Issue: Fraud or scam
Subissue:
Consumer Complaint: This started in XXXX. Between XX/XX/XXXX and XX/XX/2022, I fell victim to a multi-layered scam operation run by XXXX also known as XXXX which involved me making deposits for a total amount of XXXX XXXX from my Coinbase account to fraudulent investment firm. this firm promised increased growth because of their advanced bot system. When all deposits were made the company refused to follow through with providing the funds that was promised. As soon as I realized this I contacted Coinbase twice, they do not send any recommendations but to report this crime to the police. The police are not equipped to investigate crypto currency. As it is new and the scammers no doubt take advantage of this. Coinbase has not taken any actions to rectify this issue which is why I am filling a complaint.
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2022-12-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-12-18
Issue: Managing an account
Subissue: Problem using a debit or ATM card
Consumer Complaint: I contacted Coinbase regarding unauthorized transactions made on my debit card on XX/XX/2022. On XX/XX/2022 I received several emails from Coinbase regarding the unauthorized transactions that stated my claim wasn't going to be processed because the transactions were past the time limit. They stated that I only had 60 days from when the transactions were made to report the fraudulent activity and submit a claim. I called customer service regarding their response and informed them that I was hospitalized twice following these transactions being made on my account, which prevented me from contacting them within that time frame. I also informed them that I never received any statement from them showing me the transactions on my account. I also informed them that my mobile device had been stolen, so I never reviewed my account or saw the unauthorized transactions prior to contacting them. I informed the representative that I would provide my doctor 's notes that I received from the hospital when I was XXXX which detailed the dates of my hospitalization. The representative stated that she was submitting an escalation regarding this and stated that someone would contact me via email. I never received any email regarding the escalation. According to Regulation E, when reporting account errors, a institution must provide addition time to the consumer if extenuating circumstances prevent them from reporting the errors within the specified timeframe. My hospitalizations were extenuating circumstances, therefore Coinbase should have taken this into consideration and extended the timeframe for me to report the unauthorized transactions made with my debit card. Regulation E 1005.6 ( b ) ( 3 ) ( 4 ) Extension of time limits. If the consumer 's delay in notifying the financial institution was due to extenuating circumstances, the institution shall extend the times specified above to a reasonable period.
Company Response:
State: CA
Zip: 91709
Submitted Via: Web
Date Sent: 2022-12-18
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-12-19
Issue: Fraud or scam
Subissue:
Consumer Complaint: I deposited money with Coinbase after completing all verification processes including identification. They took my money and allowed to purchase XXXX currency with it. Now they have restricted my account by not releasing funds or allow me to transfer my XXXX elsewhere. They have had me do the ID verification 3 times now and tell me they have no idea when I will be granted access to it. They gladly and quickly took my money and now won't allow me to access it.
Company Response:
State: MI
Zip: 48170
Submitted Via: Web
Date Sent: 2022-12-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-12-14
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 from my Coinbase account to fraudulent investment firm.
Company Response:
State: CA
Zip: 92843
Submitted Via: Web
Date Sent: 2022-12-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-12-14
Issue: Fraud or scam
Subissue:
Consumer Complaint: Commencing on or around XX/XX/2020, I fell victim to a multilayered scam operation orchestrated by XXXX which involved me making deposits for a total amount of XXXX XXXX XXXX XXXX XXXX XXXX from my Coinbase Inc account to fraudulent investment firm ( s ).
Company Response:
State: IL
Zip: 60188
Submitted Via: Web
Date Sent: 2022-12-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-12-13
Issue: Fraud or scam
Subissue:
Consumer Complaint: In mid XX/XX/XXXX, I saw a message in XXXX ( an online chat platform ) to me in a group chat called XXXX XXXX XXXX XXXX. I read messages from a variety of members and it seemed to me that they are all happy making money. The group was apparently a collection of investors following trading direction from someone named XXXX XXXX ( aka. XXXX XXXX XXXX- XXXX. I XXXX XXXX XXXX XXXX and It seemed legit. On XX/XX/XXXX I asked the group how to become a member. Someone who is the head of the group answered me back. Her name is XXXX XXXX last name unknown ). She told me there is no Membership fee. There is a 20 % commission from any profits made. So I said, I will try with $ XXXX. XXXX showed me how to open an account with XXXX, an online trading platform. This involved registering at XXXX XXXX XXXX # /register with an invitation code XXXX. Then she showed me how to transfer money from my COINBASE Account to XXXX. We boughtTether XXXX XXXX worth {$10000.00}. I sent XXXX XXXX to this address. XXXX I started trading with XXXX XXXX. The first transaction I made was almost XXXX. I told her that it was easy. She said, but of course in every investment there is a risk. I was convinced to put more money into my account. She said that the following week is the big Layout meaning we can make more money. The more money in your account the more money you can make, XXXX XXXX XXXX helped me again to buy XXXX XXXX from my COINBASE account. Bought {$98000.00} XXXX for {$100000.00} I sent XXXXXXXX XXXX to XXXX Bought {$98000.00} XXXX for {$100000.00} XXXX sent XXXX XXXX to XXXX On XX/XX/XXXX. I bought Tether XXXX XXXX for {$2800.00} from COINBASE. I sent XXXX XXXX to XXXX On XXXX XXXX I used my XXXX I bought XXXX {$5200.00} XXXX sent XXXX XXXX to XXXX I also used my XXXX account, bought XXXX for {$10000.00} and I sent XXXX XXXX to XXXX My total loss of {$220000.00} ( that is not including the fake profit from their platform ) The website for the platform can be found at XXXX XXXX XXXX XXXX Or XXXX Last Friday XXXX XXXX was our last trading day. XXXX texted the investment group through XXXX, XXXX XXXX XXXX XXXX XXXX, You can withdraw all the funds in your account including the profit to your bank card, and then settle the club commission with me. My understanding was that we can withdraw all the funds in the account including the profit and then settle the club commission with her. So she helped me initiate a transfer of {$490000.00} ( which included my initial investment plus gain. ) from their platform XXXX or XXXX account to my COINBASE account. Using XXXX XXXX address : XXXX I was waiting for the money to arrive in COINBASE, minutes later I texted her that the money was not in COINBASE yet and it was taking too long. XXXX told me that I have to pay the commission of {$53000.00} to her first before they can release the money despite the fact she described this account as my account. I told her I dont have additional funds in my bank and that I was planning on paying the commission from the earnings. She told me, That was the agreement that I pay the {$53000.00} before they can release my money to COINBASE. We had many text conversations that evening of Friday XX/XX/XXXX, the whole day Saturday XX/XX/XXXX and now Sunday XX/XX/XXXX. I requested that they release the XXXX to COINBASE to settle the commission on Saturday XX/XX/XXXX. XXXX responded on XX/XX/XXXX that my request was denied and the rules should not be broken. Anyone withdrawing funds is required to settle the commision first. I told her I have a friend who is willing to help me pay my commision. XXXX had texted me before that she is from New York. I told her that my friend lives in New Jersey and works in XXXX. She is willing to give you a cashier check and you release my money and I will be able to pay her back. She wants your address and telephone number and she can meet you tomorrow or Tuesday. XXXX did not agree. So, at this point they are holding my funds, requiring a commission payment be made through a cryptocurrency address. I believe that they have no intention in returning my money. I would like XXXX XXXX XXXX to refund my XXXX for defraudent me and wrong business practice. How can he be allowed to practice this false Investment firm. As seen in XXXX : XXXX XXXX XXXX XXXX is the founder of " XXXX XXXX XXXX XXXX XXXX '' worldwide. His advocacy by forming the club is to share his knowledge and skills to all of the traders globally. He is a member of both the XXXX XXXX XXXX XXXX University XXXX XXXX XXXX XXXX XXXX University. Born in an ancient family in XXXX, XXXX in XXXX. He studied at the XXXX XXXX University XXXX XXXX in XXXX and then eventually entered the Department XXXX XXXX XXXX XXXX XXXX XXXX XXXX in XXXX and obtained a XXXX XXXX XXXX. In XXXX, he joined the XXXX XXXX Bank as an intern as economic observer assistant. He began to work as an economic analyst in the XXXX XXXX Bank in XXXX, and start to participate in the foreign exchange reserve fund in XXXX. In XXXX, he participated in the management of foreign exchange reserve hedge funds that exceeded XXXX XXXX XXXX dollars. XXXX XXXX In his trading he found that XXXX XXXX and hedge funds were controlled by politicians and capital, and that the probability of profit could be greatly increased by having a strong enough capital to trade in the same direction at the same time, so XXXX became a tool for capitalists to harvest their profits, and he abhorred these actions. So more and more he yearned for the absolute freedom of the trading market, so with the help of his previously accumulated contacts, after a lot of understanding and testing research After a lot of research and testing, he used his contacts and experience to lead a group of his followers and traded like a fish out of water, increasing his capital like a snowball by a hundredfold in just XXXX year 's time. Since then, he has risen to fame in the foreign exchange market and has countless followers. In order to promote the globalization of investment in the foreign exchange market, after resigning from the XXXX XXXX XXXX, he started to prepare his own brokerage company and led investors to promote the popularization of foreign exchange investment together, set up a club for foreign exchange investors to exchange information and do basic general knowledge, professional knowledge training and trading skills training for beginners from time to time. Through the information and signals he shares in the club, more and more people have grown to become XXXX XXXX XXXX, with profits of at least 300 % in each special club training session, and club members have gained considerable wealth as a result of investing and trading XXXX XXXXs with him. Contact Info XXXX, New York XXXX XXXX XXXX My XXXX XXXX is using this fraudulent platform : As seen in XXXX : Is etismc.ltd Legit? website XXXX XXXX website IXXXX XXXX *Is this the right industry? website XXXX XXXX *Is this the right Sector? Is etismc.ltd legit? Nope. It has the lowest trust rating on our chart. Let 's take a look at it and its XXXX industry. We put to work XXXX XXXX XXXX to expose high-risk activity and see if XXXX is a scam. In this article, we have a review, take a look at alternative legitimate products/services and show you what you can do if you already lost your money. XXXX XXXX XXXX algorithm gives this business the following rank : XXXX You should know why XXXX is flagged - see below. Why would XXXX allow this Fraudelent InvesmenXXXX firm be exposed to the world. XXXX is also responsible for all the scams happening in the world. They should have a strict policies and have a XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX
Company Response:
State: CO
Zip: 80134
Submitted Via: Web
Date Sent: 2022-12-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-12-12
Issue: Other transaction problem
Subissue:
Consumer Complaint: I used a XXXX party automated trading platform called XXXX and uses API keys to authorize trades through various crypto currency exchanges ( in this case Coinbase ). On XX/XX/XXXX I got an email from XXXX that my API access to Coinbase was XXXX. I attempted to login to Coinbase but my account was disabled. I went through the process in Coinbase to recover my account the same day. Coinbase stated they suspect my API keys were compromised, which I use on XXXX site. On XX/XX/XXXX, coinbase restored my account and I was able to login and identified fraudulent transactions on XX/XX/XXXX starting at XXXX XXXX and ending at XXXX XXXX With the API keys, the attacker was not able to withdrawal the funds directly, but they were able to sell my XXXX and XXXX holdings and then used a low liquidity coin, XXXX, where they can manipulate the price/market as there is low trading volume. They then created over XXXX transactions for buy/sell where my account was buying XXXX coins at {$0.00} and then selling them at {$0.00} ( amounts vary towards the end and price fluctuates ). My guess is the attacker was on the other side of the trade buying what my account was selling ( they buy low, and sell high where my account was buying high and selling low ) .I estimate they were making about {$1300.00} per trade, at approximately XXXX trades = $ XXXX plus over $ XXXX in trading fees through coinbase. The attacker 's IP showed up in the activity logs as 10.120.100.38, which is not a internet routable IP address. It's reserved ( RFC 1918 ) for private business and not supposed to be routable to the internet. However, the attacker would have to have had a coinbase verified account to be on the platform trading, given the time of day, and low volume on that particular XXXX coin, it shouldn't be difficult to pair the attacker to the trades. I have screenshots of my portfolio before the attack, as well as transaction logs for the trades themselves. XXXX is claiming their site was not breached ( https : XXXX ), and that it was phishing, but I know for a fact that I have not used or put those keys anywhere. That particular key is only used for XXXX, which I've had setup for about XXXX years. Their site is indeed compromised Coinbase has refused to refund the transaction fees, despite the transactions being fraudulent. XXXX doesn't hold me liable for fraudulent transactions, nor does my bank. But Coinbase is able to have XXXX liability?
Company Response:
State: NV
Zip: 89002
Submitted Via: Web
Date Sent: 2022-12-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A