Date Received: 2022-04-26
Issue: Trouble using the card
Subissue: Trouble using the card to spend money in a store or online
Consumer Complaint: I am complaining today about the Coinbase Debit Card. On XX/XX/19 I had a charge declined for my gym ( " XXXX XXXX XXXX XXXX XXXX '' which is XXXX XXXX XXXX ). The charge was declined and my card was temporarily suspended due to suspicious activity. I have tried to get the card reinstated with various telephone calls and emails. All my cases are closed and I am told that that they will not reopen my card. In their last email to me they said " We acknowledge that you may be wondering why your card was blocked or which transaction violated the agreement, but we are unable to provide any information due to security concerns. '' However, under their terms and conditions, outlined below, they should tell me why this happened. Found under Section 1.18.7. " If Card Transactions, your Card use and/or any or all Coinbase Services are restricted, suspended or terminated in this way, we will ( unless it would be unlawful for us to do so ), provide you with notice of our actions and the reasons for refusal, restriction, suspension, or termination where appropriate, with the procedure for correcting any factual errors that led to the refusal, suspension or termination. '' I did not violate any of their agreements. The XXXX charge seems to have triggered something to cause my account to be blocked. I would very much appreciate my card being reactivated and am only appealing to the CFPB as a last resort after exhausting all other options. Thank you for your help.
Company Response:
State: CO
Zip: 80111
Submitted Via: Web
Date Sent: 2022-04-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-04-25
Issue: Fraud or scam
Subissue:
Consumer Complaint: Commencing on or about Back in XX/XX/2021, I had a sale on XXXX to go through to Coinbase and the XXXX is gone which is equivalent to XXXX USD, however, and unfortunately, Coinbase claims that the assets never arrived at my Coinbase account, which is completely lying.
Company Response:
State: LA
Zip: 70809
Submitted Via: Web
Date Sent: 2022-04-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-04-25
Issue: Unexpected or other fees
Subissue:
Consumer Complaint: The first incident was in XXXX of XXXX, it made national headlines about coinbase having a glitch causing prices of a stable coin to skyrocket. It was not a glitch, even though it's a stable coin millions of them were traded instantaneously when coinbase dropped it causing price spikes which attracted even more people to buy it myself included. This was a very small portion of my account. Anyone who traded the coin had their account locked for 48 hours minimum so they could go in and correct the price on everyone 's trades so they didnt lose money. Meanwhile my entire account is frozen .... Well not completely frozen, my holdings were still subject to the volatility of the market, even though I was starting to hemorrhage financially my entire account was locked, not just the coin in question which would have been reasonable, my entire account was locked due to no fault of my own. Once my account was finally unlocked, they delisted the coin [ XXXX ] convienently they left a balance of it in my wallet. My only option was to transfer it off of coinbase to try and recoup something. 3 weeks later they relisted the coin, never said a word about any of it and act like nothing ever happened. I still have those coins in my wallet that I send them to. It cost me more than half of what they're worth to send them there, now it's more expensive to convert them or move them somewhere else that the coins are actually worth. It would actually cost me money to move them again. Fast forward to XX/XX/XXXX. I'm attempting to make a purchase on coinbase through their app called coinbase wallet. This is something I've done a thousand times and never had an issue. Everything seemed to slow down, trying to make the purchase you receive a verification code via text. Well I was recieving 2-3 texts in a row all with different verification numbers, none of which actually worked. At first I assumed network congestion but the lag of the server the multiple codes and logins I decided to lock my account. They made it sound like a quick process to get verified and unlocked but It was far from it. Again my account was frozen for multiple days. Money lost due to not being able to place a sell order is infuriating. Freeze the account ins and outs but you have to leave the option to liquidate the account if a position is losing money hand over first. When I finally got back in my account, the coin I was trying to purchase had gone through, but the coins were sitting in the coinbase account not the wallet. I clearly purchased them in the wallet for the wallet. Coinbase did nothing for me, they offered to walk me through transferring the coins to the original place they were supposed to go. I know how to get them there, and it costs a fee. The entire purpose of the original transaction was to avoid that fee. Now today, here we are again, made a purchase in the wallet, cant get the verification codes to work, its sending me double the codes and none of them in the slightest. It finally kicks me out and sends the coins to coinbase, not coinbase wallet. Now, not only are they in the wrong exchange, it refuses to let me transfer them out. After multiple emails phone calls and exchanges they made it to the wallet! Well 75 % of it did... I subscribe to coinbase one, no fees is the motto! Yet everytime I clicked I lost $ 5-7 dollars. Out of the {$110.00} I started with and initially invested, {$83.00} of it actually made it to the wallet. No explanation, nothing, absolutely nothing. I should have known it was going to go bad, when I called customer service she answered the phone bright an cheerful, she asked how I was doing and my response was well not so good. In turn she responded, well that's great to hear how can I help you today ... ... That's great to hear?
Company Response:
State: FL
Zip: 33904
Submitted Via: Web
Date Sent: 2022-04-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-04-25
Issue: Fraud or scam
Subissue:
Consumer Complaint: XXXX XXXX XXXX XXXX XXXX XXXX XXXX Texas, XXXX Tel - XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXX FBI XXXX XXXX XXXX XXXX XXXX To the Attention of Officer ( s ) In charge XXXX XXXX XXXX XXXXXXXX, TX XXXX Subject : Victim report and request for investigation of XXXX XXXX and theft of ~ {$30000.00} from Coinbase and Coinbase Pro on or around XX/XX/XXXX My name is XXXX XXXX XXXX and my address is XXXX XXXX XXXX, XXXX, Texas XXXX. A copy of my identification is attached. On or around Saturday XX/XX/XXXX I began to receive text Messages from my mobile phone carrier XXXX XXXXhat changes had been made to my account password if I had not made t I should contact XXXX. I attempted to log onto my T-mobile account and was successful once. Once in I discovered that my main phone number XXXX was no longer there. At the top of the page ( which I mistakenly did not print ) it said that the number had been ported out to XXXX XXXX. I followed up with a call to XXXX XXXX immediate response to me without hearing me out is that the number XXXX did not belong to me. A five hour back and forth of calls between my wife and I to XXXX would then ensue. The XXXX staff did not demonstrate the training to deal with this situation. In the end we spoke with someone who said that another department that hands the porting of number had to be contacted but they were closed and would not be opened until the next day ( Sunday ). Concurrent with the XXXX alert texts I received an alert from XXXX stating that changes had been made to my account. I went to log onto my XXXX account and was unable to do so. The main email that I use for XXXX is XXXX and the password had been changed. I called XXXX to report the issue and I was told by the XXXX XXXX that they were unable to assist me because my account was flag and under the supervision of XXXX XXXX XXXX : XXXX - Case Manager, Executive Customer Relations. XXXX did not work on weekends and I would not hear back from XXXX until Monday XX/XX/XXXX to unlock my account. By then the damages had been done. I received an email from Coinbase on or around XX/XX/XXXX, indicating that I had transferred XXXX and XXXX from my Coinbase account. Since I had not made or authorized these transactions I went immediately to log on to Coinbase. I was locked out of my account. I attempted to call Coinbase and was unable to get through to a live person and kept being referred to their website. I submitted a ticket on the website and then attempted a password recovery. The password recovery did not and would not work because Coinbase sends the six digit authentication code to the Mobile phone number on record. At this point I did not have possession of my XXXX phone number. The number had been ported to another carrier by the hacker. In order to regain access to my account I had to update the account with a new phone number. I submitted to Coinbase to replace my phone number. Coinbase demanded that I provide a copy of the front and back of my drivers license and a live photo of myself. I did so and updated the account with my wifes phone number ( XXXX XXXX XXXX ). Coinbase advised that it would take 48 hours to make the change. I regained access to my Coinbase account on or around XX/XX/XXXX,. During this period I had informed and advised Coinbase and Coinbase Pro that my account was compromised. Coinbase and Coinbase Pro took no actions to freeze my accounts. As the records from my accounts show, throughout XX/XX/XXXX Coinbase allowed the hacker to convert my asset to XXXX and to transfer it out of my account. I do not trade XXXX or XXXX and my account records support that. See statements, deposits and withdrawals attached. It took a long time to regain access to my Coinbase accounts. Coinbase refused to change my password and kept directing me to log into the account even though I had already told them that : ( a ) I was locked out and ( b ) I did not have possession for the phone number on file. After I submitted a request to Coinbase to add the new phone number to my account, I provided my identification and a live photo of myself ; it would take Coinbase 48 hours to return access to me. When I did receive access to my account on Monday XX/XX/XXXX, I was finally able to log on and I discovered that both my Coinbase and Coinbase XXXX accounts had been depleted. Repeated exchanges of email with Coinbase support went nowhere. Coinbase support subsequently sent me an email in which they said that I was not covered and they are not liable to reinstate my stolen funds because the account was accessed using my credentials. On or around the XXXX of XX/XX/XXXX, we got a hold of a XXXXXXXX member of the corporate Solutions team. He was in the XXXX and he gave his name as XXXX employee identification XXXX. We spent on and a half hours on the phone with XXXX to preempt the finalization of porting of my XXXX number to XXXX That is, to interrupt the porting and to regain the number. XXXX did a thorough investigation and established how long I had owned the number ( since XXXX ), communicated theses facts to XXXX and recovered my telephone number for me. However, having recovered the number, I was still locked out from Coinbase and the hacker had already drained my Coinbase accounts. XXXX informed us that the hack took place somewhere on the XXXX XXXX of the XXXX. The hacker gained access to my XXXX account and via my XXXX account was able to hijack my XXXX account and to direcXXXX XXXX from within the account to make changes to my account. This we find strange because we have never been able to make change to the XXXX account without speaking to a live XXXX representative. Everything from activating a sim card, to adding a new number or changing a number. We have five lines with XXXXXXXX and the XXXX is the main number. The other major issue is with XXXX. XXXX, XXXX, Coinbase, etc, all insist that customers use their email addresses as their user names. This policy in itself is a major security breach. Our email addresses and mobile phone numbers are all public information. Once a hacker knows a companys convention for user names ( in these cases email address ) 99 % of their problem to hack an account has been solved. They need only solve the password. In this instant, XXXX has culpability for allowing and giving the hacker access to my XXXX account. In keeping with current Corporate rules and practices, I have over XXXX user names that is based of XXXX. Once anyone gains access to my XXXX account they have access to all of my accounts. XXXX has culpability for giving easy access to and for porting my mobile account number to XXXX without taking steps to confirm the request was legitimate. This porting and transfer of the number occurred to very easy and it makes me fell vey insecure as a consumer. The porting of the number lead to the unlimited access to my Coinbase accounts. My Coinbase accounts have been raided and I am out of approximately {$30000.00} plus opportunity cost and lost opportunities. I hold the Coinbase Inc and its XXXX XXXX XXXX with ultimate culpability for this breach and compromise of my accounts. XXXX invented Coinbase and put the use of the email as the user name as the convention. Additionally this is not the first incident of hacking that Coinbase has faced. Upon regaining access to my Coinbase account I attempted to change my user name and it would not permit me to use an unique user id or to substitute a new email address. After regaining access to my Coinbase accounts, changing my password and mobile phone information, or around XX/XX/XXXX I received an email from Coinbase claiming that an attempt was being made to transfer money out of my account ( email attached ) and that I should take actions to change my password and to update my account. This request is stranges since I had already made changes to the account following the hack. TO LAW ENFORCEMENT I XXXX XXXX wish to press charges of fraud and theft of identity against XXXX. XXXX XXXX XXXX XXXX indicates that when you commutate with them you XXXX reference = LRC # XXXX XXXX. XXXX XXXX XXXX XXXX number foXXXX XXXXXXXX is XXXX and the account is registered to XXXX XXXX XXXX. Coinbase Inc. in the case of Coinbase Inc I am naming XXXX XXXX as the Primary suspect of the theft. Coinbase is so arrogant that it does not provide an account number. Coinbase XXXX, XXXX XXXX XXXX XXXX XXXX, DE XXXX United States CEO XXXX XXXX XXXX. I am requesting a formal investigation into Coinbase and Coinbase XXXX, XXXX and XXXX XXXX XXXX XXXX I have and I am attaching a DVD containing my account records and transactions as well as email communication exchanges with Coinbase as well as audio recordings. Where possible I wish to press charges for theft, breach of trust and common law fraud against all three actors. The Coinbase Platform willfully and deliberately prevents the user from printing the entire record of deposit and withdrawals and times and executions of trades. The victim is willing and available o meet with law enforcement to show the exact form of the transactions actions and the timing of the transactions from his account. Please advice. Sincerely, XXXX XXXX XXXX Coinbase XXXX Fraud Victim Enclosures : DVD containing account records, communications with XXXX XXXX XXXX and Coinbase. Coinbase has set things up such that one can not print a complete statement on paper. The statements are truncated. On the other had Coinbase demanded in its communications that the victim print the statements and encircle the transactions he did not perform.
Company Response:
State: TX
Zip: 75025
Submitted Via: Web
Date Sent: 2022-05-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-04-24
Issue: Fraud or scam
Subissue:
Consumer Complaint: On or about XX/XX/2021, my Coinbase/CoinbasePro account was compromised during an attempted transaction. Coinbase/CoinbasePro is an online platform for the purchase, sale, and trading of crypto currencies. On that particular day my intention was to purchase a crypto currency. XXXX were propagated with the intended coin purchase, a request for a 'market ' buy, and a value for US dollars in my account for this purchase. I entered {$10000.00} USD and selcted 'buy. ' There was never any record of the transaction. My cash balance was immediately debited {$10000.00} USD!!! I never saw a 'transaction ID ' or any record whatsoever from the attemtpted transaction. During the past year I have written to Coinbase support 14 times asking for assistance and all I get in responce are computer generated letters asking repeatedly for details which never existed ( order #, transaction #, etc. ). Coinbase robbed me of {$10000.00} USD.
Company Response:
State: UT
Zip: 840XX
Submitted Via: Web
Date Sent: 2022-04-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-04-22
Issue: Money was not available when promised
Subissue:
Consumer Complaint: Coinbase seems unable or unwilling to change my phone number making it impossible to access my account. On XX/XX/22 @ XXXX XXXX, I discovered that I could not access my Coinbase account because I had changed my phone number. At XXXX on the same day, I called Coinbase customer support. After over an hour with XXXX on the line, nothing had changed. I still wasn't able to access my account and XXXX blamed " the system '' for his failure to correct the problem. He informed me that there was nothing I could do. So, In summary, can't access my coinbase account and there is nothing to be done about it so I guess I lose all of my funds.
Company Response:
State: FL
Zip: 32958
Submitted Via: Web
Date Sent: 2022-04-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-04-21
Issue: Fraud or scam
Subissue:
Consumer Complaint: Commencing on or about XX/XX/2021, I fell victim to a multilayered scam operation orchestrated by XXXXXXXX XXXX ( the Fraudsters or Company ), 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: FL
Zip: 32708
Submitted Via: Web
Date Sent: 2022-04-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-04-21
Issue: Money was not available when promised
Subissue:
Consumer Complaint: I have a Coinbase account, which I've used previously to purchase Cryptocurrency via Bank Transfer ( ACH ). Coinbase displays on the confirmation page how much of a purchase is available for immediate transfer and how much is subject to a holding period. On the confirmation page for this purchase, Coinbase indicated that {$1000.00} was available for immediate transfer ( and any amounts above {$1000.00} would be subject to a 9 day hold period ). After making the purchase, Coinbase changed the policy and restricted my funds for 9 days. They have not honored the terms of the service they displayed when I made the purchase- which makes this a bait-and-switch. I contacted Coinbase, explained the terms that were offered, as well as the prior transactions I had made on these terms. Coinbase refused to honor the terms they offered when I made the purchase. My funds are now locked in their account for 9 days and not available.
Company Response:
State: TX
Zip: 77043
Submitted Via: Web
Date Sent: 2022-04-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-04-20
Issue: Other transaction problem
Subissue:
Consumer Complaint: after realizing the account might be a scam I contacted the company ( Coinbase ) to prevent the verification process and stop the transaction. I did not receive any help from their support team. After I called a few times no one was able to give me any guidance on how to save my money ( savings ). They did not ask me for any details about reporting the issue. There was no protection available, nor an insurance or funds security offerings. I submitted a complaint. I never received proper support. The money was gone. I understand the digital currency economy is very new, and regulations are not fully in place. But if one of the leading Crypto Exchange companies, such as Coinbase, which makes big profits, can not have self-regulated plans for cases and circumstances that should be serving a regular user/customer/like myself, it will not be fair to only focus on business success, without considering providing service and support to those whom they profit from.
Company Response:
State: NY
Zip: 11102
Submitted Via: Web
Date Sent: 2022-04-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-04-19
Issue: Fraud or scam
Subissue:
Consumer Complaint: My Coinbase Pro account was compromised on XX/XX/2021 when my cell phone number was given away and activated on another device not in my possession @ XXXX PM ( Thank you XXXX ) and the thief was able to conduct a password recovery process with my email via SMS ( also on the XXXX of XXXX ). Once my email was hacked they were able to initiate a password recovery process to my Coinbase XXXX account. They converted some of my current Crypto currency investments back to USD and then converted to XXXX ( XXXX ) before transferring out and off of the Coinbase exchange. Also, while in my account they initiated a withdrawal from my cash account ( local bank ) and via Coinbase policy, they were permitted to instantly convert or trade the cash equivalent of {$1000.00} instantly without having to wait for the transfer to finish. Upon recognizing the breach on XX/XX/XXXX, I successfully placed a stop payment on that transfer with my local bank. Now, Coinbase wants me to cover the funds they allowed to transfer off of their platform and hold me liable. Essentially I'm being asked to fund the criminal activity so the exchange doesn't lose money.
Company Response:
State: PA
Zip: 17257
Submitted Via: Web
Date Sent: 2022-04-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A