Date Received: 2022-05-26
Issue: Other transaction problem
Subissue:
Consumer Complaint: last week the Coinbase app kept failing my ID verification for this reason I cant use it for trading, therefore I cant take my money out, I called the customer support and after been in several calls one of them for more than one hour they didnt resolve it and keep repeating that I dont know how to set up a new password. I have sent my ID via email PDF attached with the three images requested and they refuse to validate it or fix the app, they also refused to believe me I am not receiving their emails to change my credentials to log in on browser I insisted they must have my email or devise blocked but they dont want to contact their IT department to fix it, or escalate and just keep repeating to me that i need to look for the email in my spam folder, they dont want to debug their app and are holding my money illegally for not letting me have access to it, I provided the verification they requested and still no resolution or access to process transactions
Company Response:
State: CA
Zip: 912XX
Submitted Via: Web
Date Sent: 2022-05-26
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-05-26
Issue: Fraud or scam
Subissue:
Consumer Complaint: Issues for review : 1. Coinbase CAN NOT deny that it has fully identified and verified Complainant 's ID by the virtue of multiple streams of correspondence in which they referred to me by NAME and email address at all times, in addition to Screenshots previously provided to CFPB and other Agencies demonstrate this fact to the degree that no further burden of proof is lawfully needed. It then becomes painfully clear that respondent Coinbase, even after receiving full ID verification INCLUDING the requested and sent " selfie '' in the specific method Coinbase requested, is merely attempting to extend the unlawful withholding of assets by divers means of requesting even more verification when they have evidentarilly DEMONSTRATED by their own communications there is no legal doubt that Coinbase reasonably KNOWS that I am the original account holder who opened a secondary account using the SAME timestamped credentials. Therefore, each DAY they fail to release assets as directed and demanded multiple times, the Complainant alleges they are committing a separate act criminal conversion in conflict with and in violation of their own rules : " 2.6. Digital Asset Custody and Title. All Supported Digital Assets held in your XXXX XXXX XXXX are custodial assets held by Coinbase for your benefit, as described in further detail below. 2.6.1. Ownership. Title to Supported Digital Assets shall at all times remain with you and shall not transfer to Coinbase. As the owner of Supported Digital Assets in your XXXX XXXX XXXX, you shall bear all risk of loss of such Supported Digital Assets. Coinbase shall have no liability for Supported Digital Asset fluctuations or loss. None of the Supported Digital Assets in your XXXX XXXX XXXX are the property of, or shall or may be loaned to, Coinbase ; Coinbase does not represent or treat assets in Users XXXX XXXX XXXX as belonging to Coinbase. Coinbase may not grant a security interest in the Supported Digital Assets held in your XXXX XXXX XXXX. Except as required by law, or except as provided herein, Coinbase will not sell, transfer, loan, hypothecate, or otherwise alienate Supported Digital Assets in your XXXX XXXX XXXX unless instructed by you. 2.6.2. Control. You control the Supported Digital Assets held in your XXXX XXXX XXXX. At any time, subject to outages, downtime, and other applicable policies, you may withdraw your Supported Digital Assets by sending it to a different blockchain address. As long as you continue to custody your Supported Digital Assets with Coinbase, Coinbase shall retain control over electronic private keys associated with blockchain addresses operated by Coinbase, including the blockchain addresses that hold your Supported Digital Assets. '' Complainant has evidence that even the extraordinary step of providing a " selfie '' has been uploaded to respondent Coinbase in accordance with the specific terms of request in which Complainant declared " Done ''. Evidence available via extensive email record and attachments. 2. Significantly and consistent with like and similar complaints found at https : XXXX it is evidentarily found that respondent Coinbase committed a scam/fraud as using a pretext to unlawfully lock Complainant out of his account to begin with. Significantly, respondent Coinbase alleges, without providing one shred of reliable, substantial and probative evidence that : 1 : Creditials were somehow " compromised '' on " XX/XX/XXXX ( while Complainant consistently monitored account to find NO such breach on the alleged date ) from an " unknown IP '' ( there is NO such thing as an unknown ID as any entry-level XXXX should know ), " using his account password, a 2-step verification SMS code sent to his verified phone number ''. We shall stop right there at this additional plain and obvious lie. While there is a slight possibility that an account password could be breached, there is NO possibility that the XXXX verification XXXX code could be WITHOUT Complainant being made aware of this as it LOCKS Complainant OUT of his phone by virtue of a SIM-swap. Comlainant absolutely VERIFIED there has been NO breach of his 2-step verification by his phone provider who testifies in the following : " Your request ( XXXX ) has been updated. To add additional comments, reply to this email. Customer Care XX/XX/XXXX, XXXX XXXX Dear Valued Customer, Thank you for contacting XXXX Customer Service! We are sorry for the delayed response and if it took longer than you anticipated. Thank you for your patience as were experiencing higher than normal wait times. 2. Upon checking, there were no sim changes/swaps made on the account. We understand that account security and privacy is a major customer concerns. We take precautions to secure your data both online and offline. We always verify the account for any changes especially XXXX changes or port-out requests. Rest assured that we take precautions to secure your information and the information provided will be kept strictly confidential. '' 3. Therefore, in addition to the impossibility that there was a " hack '' from an " unknown IP '' which CAN NOT EXIST ( nor have they provided credible factual evidence this ever occurred ) '', this definitively PROVES Coinbase is laughing in the face of the XXXX Attorney General 's Office who is charged with upholding against offenses made by Coinbase. The respondent used this and other divers methods to unlawfully DEPRIVE account holders of their rightful assets. Much more is available via evidentiary direct email threads and the website https : XXXX of which derives much evidence from https : XXXX Also see the XXXX record of unlawful locking out of account holders ' assets at XXXX : XXXX : Pattern of Complaint : Coinbase came to XXXX XXXX attention in XX/XX/XXXX. A review of the companys complaints was completed in XX/XX/XXXX and again in XX/XX/XXXX. Based on XXXX files this company has a pattern of complaints from consumers who state they are locked out of their accounts, even after providing required information or updates. Consumers also state they have difficulty reaching the company. XXXX is in the process of contacting Coinbase, so that they may address the issues listed above. Complainant XXXX XXXX respectfully moves this XXXX XXXX properly Investigate Coinbase for XXXX and/or criminal conversion, and to REQUIRE Coinbase provide some evidence above mere allegations used as a pretext for unlawfully withholding assets. All evidence on record for any rebuttal. Upon extensive teleconference with a CFPB Agent on XXXX XX/XX/XXXX pursuant to respondent Coinbase 's reply, said Agent who has stated he has left an internal memo has found the original Complaint ID XXXX was closed prematurely without allowing Complainant to even have the opportunity to file an evidentiary rebuttal to the allegation of Fraud or Scam. It is generally understood there is a distinct possibility of one so charged would continue with this behavior if unchecked by evidence. The CFPB Agent then advised I file a supplemental Complaint which relates back to Complaint ID XXXX in the interests of justice and gives rise to this filing. Piercing the thin veil of a defense that Coinbase presented herein, not dissimilar to like and similar rationales for what Complainant alleges reaches the evidentiary level of criminal conversion, the XXXX XXXX has given Coinbase an " F '' Rating with the following relevant Alert : XXXX record of unlawful locking out of account holders ' assets at XXXX : XXXX : Pattern of Complaint : Coinbase came to XXXX XXXX attention in XX/XX/XXXX. A review of the companys complaints was completed in XX/XX/XXXX and again in XX/XX/XXXX. Based on XXXX files this company has a pattern of complaints from consumers who state they are locked out of their accounts, even after providing required information or updates. Consumers also state they have difficulty reaching the company. Like and similar unlawful conduct rises to the level that our CFPB is fully encouraged to promptly act to preserve the rights of Complainant and other account holders, and Complainant respectfully moves the CFPB to diligently pursue this matter and allow proper rebuttals of any spurious evidence presented by Coinbase.
Company Response:
State: OH
Zip: 454XX
Submitted Via: Web
Date Sent: 2022-05-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-05-26
Issue: Other transaction problem
Subissue:
Consumer Complaint: I have been working with Coinbase to restore access to my account, I need to obtain a w9 for tax purposes. My phone number has changed and the account has been locked. I have completed their verification processes and have been following directions and cooperating since XXXX. Still do not have access, I have uploaded numerous selfies with dates and ID, created a duplicate account ; however, when I call and ask to speak to a Manager they do not provide one. I still do not have access to my money or the W9.
Company Response:
State: FL
Zip: 33063
Submitted Via: Web
Date Sent: 2022-05-26
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-05-26
Issue: Confusing or missing disclosures
Subissue:
Consumer Complaint: On XX/XX/XXXX I transferred $ XXXX from my checking account to my Coinbase account.The transfer occurred immediately. My checking account was debited immediately. I had made a mistake. I only wanted to transfer XXXX. When I asked Coinbase to transfer $ XXXX back to the checking account I was told there was a hold on the funds for 3 weeks. I could not take any action until XXXX XXXX at the earliest. These is no reason for the hold. It is just Coinbase appropriating the float for 3 weeks for their own profit. Maybe also dealing with their cash flow issues.
Company Response:
State: VA
Zip: 22202
Submitted Via: Web
Date Sent: 2022-05-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-05-24
Issue: Fraud or scam
Subissue:
Consumer Complaint: My name is XXXX XXXX XXXX, today is XX/XX/2022. Around the year XXXX I opened a Coinbase account and I used my drivers license to become approved for an account. I purchased crypto at the time, which was Litecoin ( LTC ) and some Bitcoin ( BTC ), I had around $ XXXX in my account with Coinbase. I ended up losing access to my account throughout the years due to losing my phone, and forgetting my account details. I could no longer get in my account. This year, XXXX, around the month of XXXX, I tried to get my account back with Coinbase and was unsuccessful. I contacted Coinbase support on their website, and had to go through re verification and submitting my drivers license to get my account back, which I eventually was able to log into my account. The issue though is that all of my money is gone, no assets are showing in my profile, and no transaction history is appearing on my account. I contacted Coinbase phone support on XX/XX/2022, and I spoke to a Coinbase rep on the phone named " XXXX '' she said there is no history of any transactions on my account, no assets showing, and no money in my account. This is impossible because when I first opened the Coinbase account and made purchases I never sold any crypto, I just left it all in my account. I made purchases of crypto at that time, which was Litecoin ( LTC ) and Bitcoin ( BTC ), and I had left over money in my account. If Coinbase goes based on a persons government identification to open an account, then all my account history, my money and my transactions should be available on my account.
Company Response:
State: MI
Zip: 48127
Submitted Via: Web
Date Sent: 2022-05-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-05-24
Issue: Unauthorized transactions or other transaction problem
Subissue:
Consumer Complaint: XX/XX/2022 XXXX for {$130.00} in XXXX XXXX fraudulent withdrawal XX/XX/2022 XXXX for {$87.00} in XXXX - fraudulent withdrawal I have contacted coinbase and coinbase card and both departments keep passing me in between each other with no accountability. These transactions said they were used using my coinbase card, but there is no record of the transactions on the card. However, the money has still been debited and not returned. It seems to be a mirrored charge from months prior but they won't fix the issue or even tell me how to dispute.
Company Response:
State: CA
Zip: 91722
Submitted Via: Web
Date Sent: 2022-05-24
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-05-24
Issue: Other service problem
Subissue:
Consumer Complaint: Coinbase has locked my account which is stopping me from making any transactions. According to them, I registered in XXXX and am a XXXX, which is wrong. I am an American. When I upload documents ( ID, utility bills ) to verify that I am in fact who I say I am, the verification does not work. The only explanation I have ever gotten is that I am not being verified because my documents are not XXXX, which is maddening because my verification was to prove that I am American. This has caused me to lose hundreds of dollars because I have been unable to sell assets before the assets depreciated.
Company Response:
State: DE
Zip: 198XX
Submitted Via: Web
Date Sent: 2022-05-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-05-24
Issue: Fraud or scam
Subissue:
Consumer Complaint: Commencing on or about XX/XX/2021, I fell victim to a multilayered scam operation orchestrated by XXXX ( the Scammer ) on behalf of XXXX XXXX XXXX XXXX XXXX ) with the design, development, manufacture, promoting, marketing, distribution, labelling, and/or sale of illegal and outright fraudulent investment services, all of which aim at contributing to the goal of robbing and defrauding clients, through a predetermined cycle of the clients losses to their gains. The equivalent of XXXX USD was transferred from my wallet utilizing Coinbase services
Company Response:
State: CT
Zip: 060XX
Submitted Via: Web
Date Sent: 2022-05-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-05-23
Issue: Unauthorized transactions or other transaction problem
Subissue:
Consumer Complaint: I made some purchases in this application called coinbase there were XXXX purchases of XXXX XXXX dollars total XXXX XXXX dollars I made the first purchase on XX/XX/2022 I made the second purchase on XX/XX/2022 I made the third purchase on XX/XX/2022 and the last purchase was made on XX/XX/2022 after making these purchases they do not want to let me withdraw my money from the wallet
Company Response:
State: FL
Zip: 33012
Submitted Via: Web
Date Sent: 2022-05-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-05-22
Issue: Fraud or scam
Subissue:
Consumer Complaint: Coinbase is an online crypto currency exchange that allows for buying and selling of various crypto currencies They allowed me to transfer my funds from my XXXX XXXX to them ( XX/XX/XXXX n XX/XX/XXXX ), allowed me to purchase their product ( XXXX ) and then immediately locked my account from selling or buying or withdrawing XXXX fell more than 30 % in price and they denied me access to sell ( after allowing me to buy ). I lost a lot of money due to this and still can not sell my purchased product. They kept citing ID verification despite the fact that ( 1 ) been a member since 2016 ( 2 ) they allowed me to transfer funds and buy without ID verify ( 3 ) I have submitted numerous times my drives license, my camera pic, my camera pic with handwritten note
Company Response:
State: NJ
Zip: 08859
Submitted Via: Web
Date Sent: 2022-05-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A