Date Received: 2022-07-17
Issue: Money was not available when promised
Subissue:
Consumer Complaint: My case pertains to Coinbase Case number # XXXX, and Complaint # XXXX 1. Coinbase closed my account in late XX/XX/2022, after me being a fully verified customer for over 4 years 2. All I am trying to do now is to get my fiat and crypto off Coinbase ( which Coinbase claims that I have access to ). 3. Unlike what Coinbase falsely claims in the attached email, I do not have access to either a " Vault '' or even the " Portfolio '' section of my Coinbase or Coinbase Pro account. The ONLY page that I can access when I login into Coinbase or Coinbase Pro is their " ACCOUNT CLOSURE IN PROGRESS '' page. I have attached it's screenshot below. 4. I see my funds on the ACCOUNT CLOSURE IN PROGRESS page. BUT, when I try to withdraw the funds, it asks for my 2-factor authentication ( 2-FA ). The ONLY 2FA that I have set up with my account is my XXXX hardware key. However, their " ACCOUNT CLOSURE IN PROGRESS '' page is not set up by Coinbase to recognize my XXXX hardware key ( unlike their actual, full service Coinbase log-in page! ). I also know the key is working fine since that is the very key that I use to login to my Coinbase account ( where it works just fine ), after which it redirects me to their default " ACCOUNT CLOSURE IN PROGRESS '' page ( which is the ONLY page I am able to access! ). 5. Crypto from their default closure page can only be withdrawn to whitelisted addresses ( which is the option I chose on Coinbase when I had signed up ). BUT when I attempt to add a whitelisted address, I get directed back to " Account closure in progress page! '' 6. When I attempted to get my fiat off Coinbase, back to my bank account, it says " Account closed '', then redirects me back to their " Account Closure in Progress '' page! 7. I can't even access my transaction data for tax reporting. A flimsy report emailed to me only has Coinbase transactions, but not Coinbase Pro transactions ( where most of my trading occurred )! 8. Multiple emails have been exchanged with Coinbase customer support assuring me that the matter would be resolved in " 15 business days ''. Even the exchange balance they claimed I had in my account was initially inaccurate before they fixed it after numerous emails/phone call. 9. My trauma began almost 2 months ago. Supporting emails are attached. The majority of replies see generic " copy-pasted '' generic replies where it is obvious that my question was not even read! This is adding insult to the injury when a XXXX dollar corporation sits on a customer 's hard earned " interest-free '' money!
Company Response:
State: FL
Zip: 342XX
Submitted Via: Web
Date Sent: 2022-07-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-07-17
Issue: Fraud or scam
Subissue:
Consumer Complaint: On XX/XX/2022 I was invited by a friend to join an investment fund promoted by XXXX XXXX XXXX via XXXX XXXX I made four deposits to Coinbase.com via Wire Transfer : 1 ) {$6400.00} on XX/XX/2022 XXXX ) {$1000.00} on XX/XX/2022 XXXX ) {$8000.00} on XX/XX/2022. XXXX ) {$5000.00} on XX/XX/2022. The money was converted to XXXX XXXX then sent from my Coinbase Account to my Coinbase Wallet : XXXX The following link shows my transaction history with my seed code above : XXXX XXXX XXXX? XXXX XXXX XXXX is a Ponzi Scam that begin early XXXX, XXXX. As of XX/XX/XXXX, the funds are now missing, gone from the wallet. It wasn't transferred out and my account wasn't hacked. I received a message by XXXX from XXXX XXXX XXXX XXXX XXXX '' XXXX " XXXX '' demanding I pay 10 % of my earnings to a third party USD Tether Address or transfer 20 % of the earning to my Coinbase wallet, otherwise my funds would be frozen. XXXXXXXX is not partnered with Coinbase, XXXX, XXXX or XXXX XXXX as they claim. To my knowledge there are 1000 's of investors like myself who have lost a lot of money in this crypto currency ponzi scheme.
Company Response:
State: NV
Zip: 89128
Submitted Via: Web
Date Sent: 2022-08-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-07-15
Issue: Fraud or scam
Subissue:
Consumer Complaint: Money laundary happened in Coninbase the following is what I wrote to Coinbase on XX/XX/2022 XXXX, XXXX, 2022 Coinbase Inc. XXXX XXXX XXXX # XXXX XXXX XXXX NY, XXXX To Whom It May Concern : Re XXXX XXXX loss due to Coinbase platform not working properly Between XX/XX/XXXX to XX/XX/XXXX of year 2022, I made 10 times wire transactions from my bank account to my Coinbase account for total {>= $1,000,000} USD. ( if transactions history during the period is needed, I can submit it. ) When the fund was wired into my Coinbase account each time, I bought USDC with US dollars. I sent USDC from Coinbase platform to another trading platform XXXX XXXX XXXX XXXX XXXX, respectively. I did 10 times transactions. Because that trading platform is automatically connected to Coinbase, I did not suspect any fraud at all. I made withdrawal transactions 4 times over 2 months period using Receive in Coinbase. The total received fund worth {$6300.00} USD On XX/XX/2022. I tried to receive some funds from XXXX. It never reached my Coinbase account this time. On the evening of XX/XX/2022, my account at that platform was locked. I trust Coinbase which is a public traded company, so I used any provided functions from Coinbase do crypto trading. The problem in Coinbase caused my huge loss, {>= $1,000,000}. My actions : During XX/XX/XXXX to XX/XX/XXXX, I contacted customer service at Coinbase, it did not resolve anything at all. On XX/XX/XXXX, I called local FBI office and was advised to file report online, XXXX, I did file the report on that day. On XX/XX/XXXX, I sent a complaint letter to Coinbase by certified mail. the company received it and did not get any response at all. On XX/XX/XXXX, I filed a complaint against Coinbase on XXXX website with case ID. the progress for this complaint seems going no where. the coinbase would not admit any wrong doing. On XX/XX/XXXX, I sent complaint letters to atterney general of Michigan, US senators, US distric congressmen, got feed back from congresswoman and asked to file a complaint on this site.
Company Response:
State: MI
Zip: 480XX
Submitted Via: Web
Date Sent: 2022-07-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-07-15
Issue: Money was not available when promised
Subissue:
Consumer Complaint: I use coinbase to make transaction. 1st time fine. TRAanafer money in an out and but what I need. I transfer XXXX in aNd said problem. I did again. Both this time went through. Asked for refund which refuse. For weeks they have XXXX of my cash and refuse to let me spend or cash out, having they say made a rule change. I think they, are just XXXX. last XXXX XXXX. phone XXXX XXXX XXXX XXXX XXXX XXXX
Company Response:
State: OH
Zip: 441XX
Submitted Via: Web
Date Sent: 2022-07-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-07-13
Issue: Fraud or scam
Subissue:
Consumer Complaint: It started off in XX/XX/XXXX I deposited {$1000.00} ( one of 5 deposits ) from my XXXX XXXX XXXX to Coinbase & I bought {$1000.00} XXXX XXXX. Even after my bank cleared funds. Rather than XXXX hold and clear funds for 7- 10 days, they held my coins hostage for 21days in some cases. I got notification from Coinbase that Attached is the Email Verification. Subject line : Your available balance has increased by {$1000.00} USD. Logged in and Money was not there. I called their customer support XXXX said the funds would be available XX/XX/XXXX... another rep XXXX said the funds were released, Logged into my account XXXX acct. and I don't see the money available in my account.The deposit showed up into my account But I NEVER had Access to it ... it Disappeared ..I have called and emailed in almost a dozen times with different case numbers each time. Coinbase is always experiencing major outage as crypto prices plummet..and they hold your funds hosttage. They holding customers funds without access, causes loss and financial hardship. If your funds are held to clear, and you have no access, how could it loose value? XX/XX/XXXX they tried telling me to go and download the PDF history, I did, it shows my deposits BUT cant show the $ $ value of account at or after any transfer transaction in US dollars out of Coinbase..I have asked for them to locate and explainwhat happened in my account and all I get is look at the PDF It reflects $ amts when Bought but does not disclose the $ value when sent.So customers are at a loss. By the way I only had access to {$4000.00} of the {$5000.00} I deposited Within XX/XX/XXXX to XXXX a $ XXXX XXXX acct lost $ XXXX? Also Coinbase holds our Coins eg. XXXX for unreasonable amount of time even when the banks shows funds are cleared. Customers are not able to access coins to trade to avoid market drops, causing hugh loss.They need to restore my Funds and other customers as well. All I want is them to stop cheating, holding our funds Hostage and refund mine and the many customers that has lost $ $ with them.
Company Response:
State: CA
Zip: 92692
Submitted Via: Web
Date Sent: 2022-07-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-07-11
Issue: Managing, opening, or closing your mobile wallet account
Subissue:
Consumer Complaint: I own a Coinbase account. I send my salary to my account and suddenly, coinbase restricted my account, I'm not able to withdraw my money and it's already been XXXX months since this episode. This was without previous notice, without infringing any law, and without a cause nor explanation. They just decided I can't take my money out of the site as I did in the previous months. I tried to solve it with their help desk but it's just a robot that repeats the same useless information. The mailing options are the same, just an automatic helpless response and they closed every single of my complaints without an explanation or response. Case XXXX, case XXXX, case XXXX, case XXXX, case XXXX, case XXXX, case XXXX, case XXXX, case XXXX Withholding my money in this way is not only arbitrary but illegal and entirely out of character. I demand a solution to this unjustified restriction under penalty of taking legal action in this regard They are violating my rights. And not only do I want my money back but I also want the corresponding economic compensation and adequate compensation for the problems caused by this illegal decision.
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2022-07-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-07-11
Issue: Trouble using your card
Subissue: Can't use card to make purchases
Consumer Complaint: Throughout the months of XXXX and XXXX of 2022, Coinbase shut off my XXXX card and told me that I can no longer use it to make transactions because I alledgedly violated their Card Holder Agreement. I asked them to explain to me how I violated this Agreement, but they never actaully provided evidence that I violated anything. Instead, they just cancelled my card which prevented me from using it. I caused severe hardship for me and I was stranded while traveling because I needed to use it to put gas in my vehicle while I was traveling in XXXX, but they didn't care. I have several case numbers they provided me, but rather than resolving any of them, they just closed the cases. Here are a few case numbers : Case # XXXX, Case # XXXX, Case # XXXX, case # XXXX, case # XXXX, case # XXXX, and case # XXXX. The transaction amounts varied ranging from {$100.00} to {$2500.00} which they denied me access to my funds. This is a Coinbase XXXX card and I had more than enough funds on the card, but they still denied me access to my funds during the months of XXXX and XXXX. This put me into a deep state of XXXX and XXXX because I needed to use my XXXX card to run my business so my business suffered because I couldn't buy supplies or use it for marketing. I am still XXXX over this ordeal and despite numerous attempts to get my card reinstated, they simply deactivated it on me. My XXXX XXXX has sky rocketed over this and I put on more than 30 pounds over the past several months because I have turned to food to comfort my nerves and emotions dealing with Coinbase.
Company Response:
State: MS
Zip: 39180
Submitted Via: Web
Date Sent: 2022-07-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-07-11
Issue: Other features, terms, or problems
Subissue: Other problem
Consumer Complaint: I was issued a refund in early XXXX that cleared the merchants bank account. The refund was visible in my account for a few days as 'pending ' but then disappeared and the refund was never credited to my account. I have reached out to the support team numerous times and not received any real response or help in getting this issue resolved. I have screenshots of the 'pending ' transaction in my account, and a copy of the receipt from the merchant.
Company Response:
State: CO
Zip: 816XX
Submitted Via: Web
Date Sent: 2022-07-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-07-09
Issue: Fraud or scam
Subissue:
Consumer Complaint: I got lied to about how this all works
Company Response:
State: KS
Zip: 67501
Submitted Via: Web
Date Sent: 2022-07-09
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-07-08
Issue: Other transaction problem
Subissue:
Consumer Complaint: On XX/XX/XXXX A third party gained access to my Coinbase account. My assets were sold into USD. All transactions on this date were unauthorized. The money was then transferred into XXXX debit cards not in my name to XXXX XXXX XXXXXXXX accounts. This was done with instant transfer not ACH. The amount was {$63000.00}. This happened around XXXX. It only took XXXX minutes for them sell everything and transfer the money into these debit cards. The next morning I had no access to my account so I called up Coinbase to ask what is going on. They informed me there were many transactions the night before i had my account frozen and told them everything done was not by me and freeze any transactions that might be in progress. After i regained access to my account I was able to see that these were not blockchain but USD that was taken off their platform. I made them aware of this many times and asked for the full name and account numbers to where my money was sent. They refused to give me that info, but a couple times they told me the name and bank where it was sent to. After being put on hold and ask for the name and bank again they told me they were not supposed to tell me that. they did nothing to help me out or figure out what happened even when the detective working the case needed that info. They could have contacted the bank it was sent to and at least try to do something but kept telling me all blockchain transactions are final. This is not a blockchain transaction but USD and would not listen. After waiting over 2 months after filing a formal complaint, they told me the same thing, all blockchain transaction are final and can not be reversed. They must be held accountable, what XXXX safeguards where made when these cards were added to my account? Did they follow XXXX guidelines? Did they file CTRs to the IRS? I can not believe that any company in the US would allow that much money to be taken out in such a short period of time, without allot more protection for the account holder.
Company Response:
State: IL
Zip: 60505
Submitted Via: Web
Date Sent: 2022-07-08
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A