Date Received: 2023-11-23
Issue: Other transaction problem
Subissue:
Consumer Complaint: Coinbase case XXXX The amounts in question are as follows : XXXX = XXXX XXXX XXXX = XXXX XXXX XXXX XXXX Moving funds to cold wallet. First time no problem second time asked to take a picture holding copy of driving license. This transaction went through. Tried again was asked to to take picture holding driving license this transaction did not go through. Tried again different log on screen - your account is being closed please move your funds to cold wallet. I contacted Coinbase support they told me the account is under review. When I try to move funds am directed to Coinbase support again they tell me that the account is under review. XXXX XXXX Logged into account can not see balances contacted Coinbase support was told to try a number of steps which I tried however, I have done nothing different to what I was doing before so definitely the issue is not my end.
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2023-11-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-23
Issue: Other transaction problem
Subissue:
Consumer Complaint: On XX/XX/23 in the afternoon I logged Into my Coin base account were I had an invest of approximately XXXX bit coins. I got terrified when I realized that my account was over XXXX USD because of an unauthorized transaction of XXXX XXXX dollars that appeared in my account. Their system automatically had issued XXXX USD to buy a crypto currency called XXXX XXXX XXXX XXXX XXXX that I still don't understand but I assume coin base lend me such enormous amount of money while it was waiting for my bank XXXX XXXX to release such money. I panicked and immediately tried to contact Coin base and XXXX XXXX to stop this unauthorized transaction. My bank immediately stop it, However I could not get telephone assistance from coin base. I went to its website and filed a complaint which is case # XXXX. They stated that they locked my account for my security and gave me instructions to secure my account. However while still locked, Coin base sent me a lot of contradictory messages informing me they are going to sale my holdings in bit coin and that they are going to try to buy again XXXX in XXXX After several emails I sent to coin base support, finally someone alive answered me and explain to me that my account has a set up for a recurrent purchase of XXXX worth of XXXX every week! On XX/XX/ I asked them to stop any recurring settings because my account was locked and I did not set this order. I explained to them that I am not confident to remove the setting myself, because I was terrified to be blamed of a new transaction at the moment I would access my account. Coinbase support team ignored my messages and just sent repeated old messages without answering my questions. Finally I received messages that my account had not been locked since XX/XX/ and that I am accumulating fees for the recurrent purchase of XXXX USD in XXXX that I never set in the first place, and that they did not removed it even thought I asked them in writing to do it while my account was still " locked for my security ''. in this context, I went to the police to report this issue but they recommend to do it online at FBI because they don't deal with cryptocurrency cases. However, because your online forms did not adjust to my case. on XX/XX/ I just reported it to the XXXX After they receive the XXXX complain Coinbase support start to pay more attention to my questions improving notably their customer service. On XX/XX/ Coinbase informed me that recurring XXXX purchase instruction that was set up on my account was canceled and later after my insistence to review what happen to my account Coinable asked me to report this case to https : //complaint.ic3.gov/. as part of the requirements to update this case for a further review. coin base states that this unauthorized transaction was of my total responsibility because they affirmed that I compromised my credentials to a third party who made the unauthorized transaction of XXXX USD to purchase XXXX XXXX I discussed several times why I am not responsible for this transaction and gave them all my valid arguments : I don't have that kind of money in my bank XXXX XXXX in my account I had only XXXX USD. I don't have a record to gambling with such huge amounts of money and nevertheless buying a very unpopular crypto like XXXX XXXX Also I pointed out them that it was not possible that besides of that huge purchase I also had set a recurring purchase of XXXX USD in XXXX every week. In addition, I asked them to tell me when the recurrent purchase was made : before, at the same time or after the XXXX unauthorized transaction to see if it was a part of something planned previously. and finally, I also ask them to explain why they allowed me that huge credit I never asked for. However ; they didn't want to investigate more about this incident. At this time they already closed unilaterally my case they stated I am the only responsible and so, I practically had lost all my savings investment that I kept in coin base for about 4 years. they took XXXX USD to pay for the charges incurred in the process for the unauthorized transaction and the remind value in bit coins is blocked for me to take out, indefinitely. I am not an expert in this field I don't have any idea on how to explain what happened but I am completely sure that I never initiate that transaction, I never shared my credential with any one, I never put a recurrent purchase setting to buy XXXX in XXXX every week. The only thing I did, was try to stop this purchase on XX/XX/ when I realized it was already made. It looks to me like someone used my Coinbase account to generate some expectative by purchasing huge amounts of XXXX with the intention of manipulating the market tendency. It could be a good clue to figure out who is behind of this kind of scams. I tried to summarize as much as possible the facts about this unfortunate event. I have all the detailed emails back and forth to support my statement. I asked from them to assume their responsibility for allowing that crazy transactions and for the systematic lack of assistance at the beginning of this situation. It improved latter but I lost a lot of time and got very sick because of it. I expect them to revert any charges that they say i have incurred on. After almost a month of receiving emails, some of them that contradict the previous one, others that half-answer my questions, many of them repeated, possibly automatically generated. In addition to a unilateral closing of my case without taking any responsibility for the losses caused by that unauthorized transaction despite the lack of funds in my account. All this together shows a lack of respect to customers as well as a very poor coordination in their customer service and makes me lose my hope that Coinbase itself will extend its understanding to give a fair solution to this problem.
Company Response:
State: TX
Zip: 75071
Submitted Via: Web
Date Sent: 2023-11-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-23
Issue: Money was not available when promised
Subissue:
Consumer Complaint: I have been trying for weeks to get XXXX $ out of my Coinbase account. I can not link my bank or XXXX accounts for withdrawals, only deposits, which is very strange. Ive reached out to Coinbase on their X support page multiple times since XX/XX/XXXX, that was my first attempt. The support agents handling this issue have not provided me with an alternative method, solution, or explanation. Only to say I need instant verification which can only be provided with a linked bank account, which they can not process
Company Response:
State: MD
Zip: 212XX
Submitted Via: Web
Date Sent: 2023-11-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-23
Issue: Fraud or scam
Subissue:
Consumer Complaint: My complaint is with the company Coinbase. I have been trying to contact and get a resolution with this company since XX/XX/XXXX regarding removing my funds from the platform especially after being compromised.When I had a dispute issue they restricted my account and said for security purposes when I understood giving what happened. They then made do countless verifications and after verifying they said since I was sure my credentials were secure they had restored access. When I went to try to withdraw my funds from their platform I see that it was still restricted.I contacted they said they were still reviewing the account. I gave it time. I contacted by phone and was told a specialist will send an email. They then sent an email saying that I was no longer eligible to use the platform but I will be able to withdraw, sell, or transfer my remaining funds which was weird considering I didnt have any issues with them until I realize I was compromised and thats when they came with this. I responded to them and said you guys are not giving me the option because its still showing restricted and not letting me have access to my money and steadily charging me XXXX for something I cant use.I did a XXXX complaint as well regarding the issue and was contacted by someone named Jewels and they said the same thing again after reviewing I can no longer use the platform but will be able to withdraw and a specialist will assess my ability to withdraw my remaining funds and will give an update. After waiting over a month I contacted and was getting ignored. They were also closing open tickets as resolved when it was not. I follow their steps and even did a formal complaint which is if you are not satisfied with support resolution and still nothing. I wrote chat again and they basically gave the same answers and avoided my reason which is withdrawing my funds. They then said they are still reviewing and I said how when you basically sent emails stating, after careful review you can no longer use Coinbase but will be able to withdraw remaining funds which clearly informs that you did a review. They are causing me a hardship. I have seen other consumers going through this same issue and its like they are stealing your funds and not directly trying to resolve the resolution and hurry and close tickets when they done nothing. I never expected this from Coinbase this has been the most horrible experience and its suspect and alarming. I hope this company is not a fraud as consumers make it out to be.They are not following their TOS which states if Coinbase or the user chooses to close the account they will be able/permitted to withdraw remaining funds and how can I do that with them keeping it restricted after being told a specialist will assess my ability to withdraw my funds. I just the company to stop ignoring and actually provide customer service and resolve my issue instead of ignoring because it seems as if they are trying to steal my funds. This has been terrible and causing emotional stress.Attached is some emails from where Coinbase has been telling me different information. I also have the emails and will attach where they resolved my dispute in my favor.My funds have been available its crazy they wont let me access but still have been charging me taking money from my account but wont let me access and remove my funds so the account can be done.
Company Response:
State: NC
Zip: 283XX
Submitted Via: Web
Date Sent: 2023-11-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-23
Issue: Problem with a company's investigation into an existing problem
Subissue: Investigation took more than 30 days
Consumer Complaint: I was a very large customer of coinbase, as I swing/day trade habitually and I utilized their service for about 6+ years. I have trusted their service with a total USD cycle volume of around XXXX XXXX ; My cryptocurrency trading volume was well into a XXXX USD ( according to listed market prices ; the true crypto prices would have sent my volume well over a XXXX USD ). There were several instances where I had over XXXX XXXX worth of assets stuck on their platform. MANY situations where every minute counted during extremely volatile market conditions ; as these securities were worth fractions of a XXXX per asset and I was holding XXXX at a time ; as this is my trading style. Time and time again I contacted Coinbase support only to be stuck in a constant loop of automated support bots. Some situations the platform would just say order failed, or connection error. Other times it would randomly ask for me to verify my identity with a physical copy of my drivers license with a handwritten note showing the date. Even after I proved my identity, Coinbase would make me wait until the documents were approved to gain back access to my assets and cash out. Please note that these issues conveniently occurred only during times where I had more than doubled my investment and was attempting to capitalize. This prevented me from managing my positions and funds ; thus they were not complying by our user agreement. However, I still remained profitable, so I stuck around and contacted support as needed and documented issues. During a later date, XX/XX/XXXX, Coinbase posted an alert of a trading suspension for the security that I was heavily invested in. This of course not only prevented me from selling and managing my position, but also impacted price action significantly ; as this was an asset that was listed on a limited number of accessible exchanges. The alert noted Tradingwill be suspended on XX/XX/XXXX. Your ability to store, send, and receivewill not be impacted. Note that the ability to store, send, and receive would not be impacted ; however, my ability to purchase, sell, and withdraw my USD was 100 % revoked. Upon reviewing the transactions on my bank account from the last deposit from coinbase ( capturing all of the money that I honestly sent coinbase for this trade, and not including those which were associated with previous trades or withdrawals. ) This totaled to about {$7100.00} starting from XX/XX/XXXX - XX/XX/XXXX over 17 transactions. Upon attempting to open a dispute online, I was unable to do so. I called XXXX XXXX dispute center and they stated that they would need to initiate the claim for me. Upon answering the questions asked and identifying the 17 transactions, I received a confirmation number for my claim and was notified that if a resolution could not be reached within 10 business days, a provisional credit for the disputed amount would be credited to my account. I called XXXX XXXX multiple times following the allotted 10 business days, as I had not received the provisional credit. The updates received were not consistent at all. I was notified that it was closed by one representative, still pending by another, etc. I eventually received the provisional credit after multiple inquiries. However, on XX/XX/XXXX I received an email that my college credit card limit had been increased to XXXX XXXX from XXXX XXXX. On XX/XX/XXXX I received an alert that my debit card was declined. Upon checking my bank account balance, XXXX XXXX had overdrafted my checking account {$4000.00}, in addition to maxing out my credit card cash advance to a credit balance of {$4900.00}. This put my total bank account to a negative account balance of around {$9000.00}. As I was XXXX at the time and independent, I had to resort to private loans to pay off the checking account negative balance to be able to pay my bills. The cash advance on the credit card had to wait, which lead to additional interest charges as well as cash advance fees. Upon calling XXXX XXXX in an attempt to clear things up, after several conversations, I was notified that my claim was denied due to not receiving info requested on my behalf. It was discovered that they had been sending paper mail ( even though I selected paperless updates ) to my parents address. I formally changed my address and updated my contact information BOTH over the phone as well as online. I was told that the second dispute would be reopened and that the forms would be sent to my new updated address. The forms were again sent to my parents address. After calling XXXX XXXX again and still receiving XXXX support and valid information, I eventually received an email update on XX/XX/XXXX, stating that my dispute was rejected as it was not submitted within the allotted time period from the debited transaction. The email then states that my claim was opened XX/XX/XXXX to dispute transactions debited FROM XX/XX/XXXX- XX/XX/XXXX. They also stated that after conducting their investigation on XX/XX/XXXX ( 4 months after my initial claim that was neglected ), they found that the transactions were authorized by me on the same date and that a letter was sent to my address on file detailing the decision to decline my request for reimbursement. My address on file had since been updated multiple times, and these forms were still sent to the wrong address. Upon reviewing the forms, the survey questions in the dispute were COMPLETELY wrong. Opposite to those in which I answered. Have you contacted the merchant? I answered YES. Of course I had contacted the merchant. Several times, as this was XXXX XXXX XXXX XXXX XXXX XXXX The survey documented by the XXXX XXXX representative during the SECOND dispute states that I did not contact the merchant. It also states that I did not return the merchandise, which was false. I responded to the email with dated DOCUMENTATION proving that every conclusion made in the fraudulent investigation conducted was false. I requested that this documentation be shared with his supervisor. I reminded him that I had been waiting since May when initially submitting my original claim immediately after realizing my funds had been stolen from me. Their email stated We take our responsibility to safeguard the funds of customers seriously and we take many measures to prevent FRAUD and unauthorized activity My funds were not safeguarded, and were stolen. The transactions were NOT authorized ; as I did not receive the service nor SECURITIES in which I authorized to purchase with my funds. On XX/XX/XXXX I received an email notifying me that my XXXX XXXX contact information had been updated, and listed an updated phone number that was NOT mine and which I do NOT recognize. I did not catch this detail until just now after reviewing past documentation. I later had major vehicle issues and went to purchase a used vehicle from XXXX XXXX. I had a credit score of XXXX and was given an interest rate quoted at 6.9 % without a cosigner from XXXX XXXX XXXX with a down payment of XXXX XXXX. This was unacceptably aggressive, however, I am independent and the truck market was limited at the time of need. The situation was a bit sketchy and I never received my spare key. My truck 's odometer then continued to move extremely fast ; as if it was not calibrated correctly. I supposedly drove XXXX miles in roughly 8 months. My odometer now reads a lot slower than before since having the vehicle serviced. I noticed my credit score took a significant hit of XXXX points and upon further review, XXXX XXXX had like 6 different lenders run a hard credit check on my account. This is unacceptable ; as I had a credit score of XXXX and a credit card limit THROUGH XXXX XXXX of {$6000.00}. If my credit ran 6 different times, why did I get baited into an interest rate of 6.9 % WITH a {$7000.00} down payment. My credit score is now down XXXX points and differs significantly from what XXXX XXXX displays in my bank account. Additionally, multiple issues have occurred with my credit card which is difficult to audit, however, XXXX XXXX often prevents me from disputing transactions online. Additionally, my XXXX XXXX brokerage account has been fraudulently swapped for another account with blank trading history with zero record of my securities purchased ; conveniently including XXXX. XXXX has also conveniently deleted all of my trading history and swapped my trading history with a fraudulent account which is not mine. There has been MULTIPLE incidence where XXXX XXXX, Coinbase, and XXXX My privacy has been breached multiple times and my money has been stolen by multiple parties. Documents on both my personal cell phone as well as computer, and other electronic forms of storage have been deleted WITHOUT my permission or me deleting them. This is not only mentally, physically, and financially exhausting, but is also the textbook example of criminal racketeering, under the Organized Crime Control Act of 1970.
Company Response:
State: GA
Zip: 30907
Submitted Via: Web
Date Sent: 2023-11-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-20
Issue: Other service problem
Subissue:
Consumer Complaint: On XX/XX/2023, Coinbase emailed me, informing me that my account was under review. On XX/XX/2023, Coinbase requested additional information about my account via email. I complied with the instructions and was informed that the review should be completed within a couple of days. By XX/XX/2023, I noticed my account was still under review when checking my account balance. After calling customer service, I received another email asking for more information. Having provided this, I was again told that the issue should be resolved in a couple of days. As of today, XX/XX/2023, my account remains under review. Reaching out to customer service once more, I was informed that there was nothing they could do and they could not provide a timeline for the review 's completion.
Company Response:
State: CA
Zip: 95035
Submitted Via: Web
Date Sent: 2023-11-20
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-21
Issue: Fraud or scam
Subissue:
Consumer Complaint: I was added to a group called XXXX XXXX XXXX on XXXX on XX/XX/XXXX. In the group, the leader XXXX would share news about the cryptocurrency market and share a daily trade to make on the platform. He would tell what token to use, trading direction, margin and multiplier to use. Then he would tell you when to close the trade on the platform. This continued almost every day and after following for a couple of weeks I decided to try the trades so on XX/XX/XXXX I transferred {$1000.00} into XXXX and then to CXIPro to trade on XX/XX/XXXX. I traded for 4 days in a row and then on XX/XX/XXXX during the trade I lost my money and they said it was because I used too high of a margin. They asked to transfer more money in and throughout the process I did transfer {$11000.00} on XX/XX/XXXX, {$10000.00} on XX/XX/XXXX, and {$100000.00} on XX/XX/XXXX. I ended up losing my money again on XX/XX/XXXX. I was obviously upset and decided not to invest anymore but XXXX kept contacting me and told me she would guarantee I wouldnt lose if I followed the trades exactly and if I did lose then she would replace my money. I ended up investing {$100000.00} on XX/XX/XXXX and {$25000.00} on XX/XX/XXXX. On XX/XX/XXXX after following a trade exactly, the account value was again lost. When I reached out to XXXX to let her know, she tried to make excuses and avoided the question of replacing my funds. After several attempts by me to contact her, she didnt respond but instead removed me from the trading group. Event timeline DESCRIPTION DATE First date of Transaction XX/XX/XXXX Last date of Transaction XX/XX/XXXX INCIDENT INFORMATION Trading Platform Name XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Lost cryptocurrency Approx. XXXX XXXX Lost amount USD {$240000.00} Total lost approximately {$310000.00} I hired XXXX XXXX XX/XX/XXXX to help track where the funds went after being removed from my wallet. Their crypto-forensic investigations tracing solution is also used by law enforcement to investigate suspects of cyber-crime in the crypto economy and track stolen funds. They track specific crypto addresses, transactions, and entities, and investigate links to real-world bad actors. XXXX XXXX crypto forensics investigators are savvy at scrupulously tracing and mapping activity on blockchains and figuring out where the money is located. They have tracked the money to current wallets which I can provide to you if you can help ask for the XXXX information of those wallets and help recover the money or put a stop to this scam. The wallets are in coinbase, XXXX XXXX XXXX
Company Response:
State: NC
Zip: 27607
Submitted Via: Web
Date Sent: 2023-11-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-18
Issue: Other transaction problem
Subissue:
Consumer Complaint: I contacted Coinbase about my transaction to a person with the correct address. They informed me that the recipient got the money. Further research revealed they sent it to the wrong person. Despite providing clear documents, Coinbase hasn't addressed the issue despite multiple calls. The amount is {$1400.00}, and the date was XX/XX/XXXX XXXX XXXX
Company Response:
State: UT
Zip: 84020
Submitted Via: Web
Date Sent: 2023-11-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-18
Issue: Problem with a purchase shown on your statement
Subissue: Credit card company isn't resolving a dispute about a purchase on your statement
Consumer Complaint: I filed a disputed for a package I returned to XXXX, and XXXX denied my refund claiming they never received the package. So I sent coinbase the receipt from XXXX showing the driver came to my house and picked up the package. The tracking number showing the package sucessfully returned and delivered. And I also asked XXXX to conduct an investigation, which they did and confirmed the package was delivered to the right address. And yet coinbase closed my case after telling me they would refund me my money because they realized their mistake. Now every time I call I get told there is nothing they can do and that I have lost my money.
Company Response:
State: TX
Zip: 77429
Submitted Via: Web
Date Sent: 2023-11-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-17
Issue: Confusing or missing disclosures
Subissue:
Consumer Complaint: This is regarding a cryptocurrency transfer that I initiated from Coinbase to XXXX. I sent the my XXXX tokens without a memo from my Coinbase account to my XXXX account. Because the tokens were sent without a memo, the tokens never reached my XXXX account instead it reached an internal XXXX account. Then when I inquired about this, XXXX initiated a transfer of those tokens to the original sender ( which is my Coinbase account ) without a memo. So, now instead of those tokens reaching my Coinbase account, it is in an internal Coinbase account. Coinbase told me that in order to retrieve those tokens I need to talk to XXXX and ask them to send a test deposit of XXXX XXXX tokens from the same XXXX internal account that was used for transfer. I spoke to a customer service representative from XXXX and he took the issue to his back office and they denied my request. So, when I asked Coinbase regarding this issue, I dont get any clear answers. Im trying to resolve this issue for the last 4 months but all my efforts have been in vain. Plus it is very difficult to reach the two brokerages ( Coinbase more so than XXXX ) and whenever I have been able to get a hold of them they have either no answer or take several weeks to answer my questions. Im just so frustrated about the situation and stuck between the two companies refusing to let me have my tokens back. On chain analytics and data clearly show the rightful owner of those tokens is me which XXXX has acknowledged, but both the companies refuse to help me retrieve my tokens. This behavior, their policies, and lack of disclosures tantamounts for fraudulent activity and they need to be held accountable for this. Thank you!
Company Response:
State: TX
Zip: 76052
Submitted Via: Web
Date Sent: 2023-11-17
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A