Date Received: 2022-02-05
Issue: Other service problem
Subissue:
Consumer Complaint: Coinbase has an ad on their website that states " Set up a recurring buy of {$50.00} or more and youll earn {$10.00} after both your XXXX and XXXX recurring buys. '' A picture of the ad is attached. The? icon in the ad links to information on pending/received rewards ( picture attached ). There is no fine print in the ad, linked to from the ad, or the " Set up a recurring buy '' form. A picture of the latter is also attached. I set up a recurring daily buy of {$50.00} on XX/XX/XXXX. XXXX such buys completed. I did not receive the promising bonuses. I opened a ticket on XX/XX/XXXX. Their reply on XX/XX/XXXX listed terms that were never disclosed in the ad. The ad is still on their website and still does not list any additional terms. A XXXX search for the text of those terms shows that the only place they are listed is from other people complaining of the exact same problem. Those hidden terms do not exist anywhere on Coinbase 's website.
Company Response:
State: IL
Zip: XXXXX
Submitted Via: Web
Date Sent: 2022-02-05
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-02-04
Issue: Other service problem
Subissue:
Consumer Complaint: This compliant is about Coinbase. I fully appreciate the risks of trading cryptocurrencies, however their false and misleading information caused me to lose money, and their lack of accountability is unacceptable for a publicly traded firm. By way of background, I sent XXXX ( XXXX, also known as new XXXX or XXXX XXXX ) to my Coinbase wallet, to the address provided by Coinbase in my account, which was confirmed on XXXX. When the XXXX did not show up in my Coinbase account, I started looking what might have happened. Apparently, Coinbase only supports XXXX XXXX ( referred to as XXXX on the XXXX website - https : XXXX ). XXXX underwent a swap to XXXX and has a different logo. Coinbase uses this new XXXX logo and symbol XXXX, but apparently, they only support XXXX. After many attempts to contact Coinbase ( all you can get are automated replies ), I finally got an agent who said that the coins would likely be available when Coinbase swaps XXXX to to XXXX ( the new version ). Per Coinbases website, this was to occur by the end of 2021. I have a copy of the webpage stating this as well, but they have now changed the page to remove the 2021 notation. I asked Coinbase to either return them to the Metamask wallet from which they were sent or liquidate the XXXX to Ether or USD within my Coinbase account. They said they could not do this, which is incorrect as they are working on the swap of the coin and do have access to my wallet, so whether internally or using third-party programs, they could effectuate the swap. After filing a formal complaint with Coinbase ( and it taking them over a month to respond ), they said that they owed no responsibility, citing Section 2.3 of their User Agreement which provides that Coinbase only supports certain cryptocurrencies and is not liable when you transfer unsupported cryptocurrencies to your Coinbase. This is a legitimate position on their point if the issue were that I just sent the wrong coins to my wallet, however the issue here is not that they do not support the cryptocurrency it is that they displayed false and misleading information about the cryptocurrency that they do support, which compelled me to transfer the wrong coin, and then they claim it is out of their control and lost ( which is in conflict with them also saying the coins will be available once they complete the swap to XXXX, which was supposed to be done by the end of 2021 ). I am happy to talk through the situation with a representative who understands crypto and how transfers are made. As noted, I would usually take full responsibility for sending the wrong crypto or sending to an incorrect address, but that was not the case here. Coinbases false and misleading information led me to improperly transfer the funds, and they should be help accountable. Thank you for your assistance. XXXX XXXX
Company Response:
State: CA
Zip: 90069
Submitted Via: Web
Date Sent: 2022-02-04
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-02-05
Issue: Managing, opening, or closing your mobile wallet account
Subissue:
Consumer Complaint: I have had an account with Coinbase since XXXX and have used it successfully on and off since then. However, since XXXX XXXX, the funds in my account have been frozen, with no clear reason provided by Coinbase. When I log in to my account, I am asked to reverify my identity, which I am happy to do. I am familiar with the process, having gone through with it to set up my account. Since XXXX, I have performed the process of identify verification exactly as requested at least XXXX times, but always without success, according to their automated system. I have provided them with my drivers license ( the same one I used to open the account, with no change other than an updated expiration date ), my passport, and even my birth certificate, but always without success. I have opened XXXX support tickets to address this issue. The Coinbase support team has always been very slow to respond and when they do, it is evident that no human being has taken the time to read the particulars of the problems I am having with their system. Usually they send a canned response instructing me to repeat the same steps that I have tried and failed many times or say something like " We've transferred your case to our team of specialists to look into this further, '' but there is never any indication that they have done so. In fact, the content of their responses make me believe they have all been from an automated system, never from an actual human being. My first support ticket was closed ( after several weeks of what felt like talking to a bot ) for no reason, not to my satisfaction. My second support ticket has so far been treated much like the first, with no indication that a human being has even read what I wrote. These are my support tickets to Coinbase : Case # XXXX ( closed, not to my satisfaction ) Case # XXXX ( currently open and ignored )
Company Response:
State: TN
Zip: 37215
Submitted Via: Web
Date Sent: 2022-02-05
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-02-04
Issue: Fraud or scam
Subissue:
Consumer Complaint: I have a cryptocurrency wallet with Coinbase ( Coinbase Wallet ). On XX/XX/2021, I've been scammed out of ~ {$11000.00} USD. Coinbase has a security weakness that the company is aware of, but has not done anything even to this day of writing. Through my attempts to recover my funds, I've found/connected with hundreds of victims who got scammed through Coinbase Wallet , with exact same methods. These hundreds of victims represent only a small number of victims that are willing to do something about it. I know with certainty that for every one of us that is doing something, there are tens of victims who are choosing to stay quiet due to shame and self-blame. Doing a quick math, there are thousands of victims who've been affected in the same matter. Even if you do a quick search online, there are many credible reports of staggering amounts of scammed money is in Billions ( USD ), which Coinbase, in a way, is choosing to help, by not doing anything about this known flaw. Coinbase has failed to protect my funds, which were stolen. Coinbase wallet product has security flaws that has allowed this to happen, and again, they are aware of the flaw, yet they blame the users/clients, shifting all the responsibility to the victims, when they fall to this known scam, using the DAPP ( decentralised application ) on Coinbase Wallet 's program. I understand that user/victims have some responsibility, but if the company is aware of such great/dangerous risks, they shouldn't have such ability accessible to laymen, which I'm sure 99 % of Coinbase 's users are composed of. As I've described in a extreme example, you can't hand a gun to a child, then blame the child for shooting himself. Less extreme example, you can't give access to a car to a child, then solely blame the child for letting him get into a HUGE accident. If you'd like any further details, you can feel free to reach out to me. Thank you.
Company Response:
State: IL
Zip: 60067
Submitted Via: Web
Date Sent: 2022-02-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-02-03
Issue: Confusing or missing disclosures
Subissue:
Consumer Complaint: XXXX partys Coinbase Coinbase wallet telegraph gram and antenjoyvip. I had XXXX usdt in my Coinbase wallet I ask Coinbase for a loan they have my a link and said use it on telegram ask for loan. So ask for loan they said XXXX times what I put in leverage brokerage liquidity loan. So they took my money and then XXXX minutes later they say I have to have XXXX XXXX XXXX to get my money back off top. This is thru XXXX XXXX is link to Coinbase and Coinbase wallet. After XXXX years at XXXX I got let go so taking my last XXXX to my name and just no telecommunications or nothing I feel played. I will love to receive my money back. They making money off my money right now
Company Response:
State: CA
Zip: 94609
Submitted Via: Web
Date Sent: 2022-02-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-02-03
Issue: Fraud or scam
Subissue:
Consumer Complaint: Coinbase Compliance KYC team ( XXXX ) started sending me emails on XX/XX/XXXX requesting me sensitive documents in order to avoid getting my Coinbase 's account restricted. These were the requested documents : 1. Please provide additional details around your current or previous occupation/any businesses you own/are involved in. Please also provide supporting documentation, eg. a payslip issued within the last 3 months or a letter from your Human Resources department confirming your employment. 2. Please confirm the source of funds deposited into your Coinbase account and provide us with supporting documentation, ( e.g. a payslip, statements from other exchanges, loan agreement, credit card statements, screenshot of transactions from an unhosted wallet. ) 3. Please confirm the primary source ( s ) through which your overall wealth/net worth was generated and provide us with supporting documentation ( e.g., a pay slip ; brokerage/investment statement ; home sale document, probate or conveyancing document, copy of Will, Grant of Probate, Gift Letter etc ). If your source of wealth originated from investing in crypto or other investments, please provide additional supporting documentation showing the initial investments resulting in your wealth. 4. Please provide us with 3 months worth of bank statements, issued within the last 4 months. This kind of emails are suspicious and look like phishing to my eyes and experience, so I ignored them even though Coinbase Compliance team sent me remainders every 5 days. On XX/XX/XXXX I've got my account restricted, and I realized that those emails were legit and should have been taking in consideration, so I proceeded to send all the information and documents on XX/XX/XXXX, following their steps : 1. Upload documents to our secure SendSafely portal https : XXXX {! Case.CaseNumber 2. Use the same email address that's associated with your Coinbase account 3. Use a desktop browser ( XXXX XXXX works best ) rather than a mobile browser if possible First response was on XX/XX/XXXX, asking me for the same documents again. The second response was on XX/XX/XXXX, it was a 5-day reminder asking for the same documents again. Third and last response was on XX/XX/XXXX, it was what it looked like a default response telling me they'd received my documents, so I had to wait. So after 11 emails sent asking for updates or information, that's all I've got. My account remains restricted after providing the requested documents 31 days later.
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2022-02-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-02-02
Issue: Fraud or scam
Subissue:
Consumer Complaint: On XX/XX/2022 my Bitcoin and Etherum investment were stolen form Coinbase a. My username and password were compromised. I am writing to you because Coinbase had a major security breach that they refuse to acknowledge. They let a hacker access my account from Wisconsin, totally different IP address. They failed to authenticate his identity with XXXX authentication that is linked to my cell phone. This authentication gives a six digit code every few minutes that you have to insert at log in. Coinbase did not send me any email about the actions taken place in my account. These two security measures are in place to protect the end user, but Coinbase had a major security breach in enforcing it. They refuse to acknowledge that they failed with this protection. They refuse to activate their up to 250,000 dollars fraud protection. I know that this investment entity is relatively new, but it is a reputable and suppose to be a secure company. I know that there are other victims out there. We plead for help to recover our investment. Thank you XXXX XXXX
Company Response:
State: NY
Zip: 11758
Submitted Via: Web
Date Sent: 2022-02-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-02-01
Issue: Unauthorized transactions or other transaction problem
Subissue:
Consumer Complaint: I got an email today from a XXXX XXXX imposter, with an invoice that says payment conformation in favour of Coinbase XXXX XXXX Order Details, Coinbase XXXX XXXX Paid Today. XXXX I.D . XXXX. Much gratitude to you for picking XXXX for your solicitation variation from Coinbase XXXX XXXX. If you didn't make this purchase, Call Now to drop this trade. Call Customer Service : XXXX XXXX. I had a similar experience recently with a XXXX XXXX imposter regarding a bogus XXXX purchase so I recognized the scam. I have not called the number at this time. Last time they wanted me to go to XXXXXXXX XXXX buy and activate a XXXX gift card to prove my location and identity. The supposed XXXX XXXX person got a fake XXXX employee on the line that gave me a hard sell. I told them where to get off. XXXX customer service referred me to you.
Company Response:
State: OR
Zip: 97404
Submitted Via: Web
Date Sent: 2022-02-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-01-31
Issue: Managing, opening, or closing your mobile wallet account
Subissue:
Consumer Complaint: I have a Coinbase wallet account, where I had my XXXX stored for more than a year, of approx XXXX $ in current value. I was randomly signed out of the account and was told the only way I can sign in would be to enter a " 12-word phrase '', which I never remember getting while making the account. I talked to their Customer Care and they basically said they can not help me ad my money is gone. I went online and saw that many similar incidents have occurred to their other customers. I think its absolutely ridiculous tat I have been locked out of my own money and they are frauding the people like this out here in the open. I have the receipts of transferring the XXXX from their own Coinbase app to the Coinbase wallet.
Company Response:
State: TN
Zip: 37923
Submitted Via: Web
Date Sent: 2022-01-31
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-01-31
Issue: Confusing or missing disclosures
Subissue:
Consumer Complaint: It is a lot of companies like coinbase XXXX XXXX and a numerous a lot more I can not receive any of my Bitcoins through any wallet because they stopped my funds I can see my funds online and in my wallet but can not access him it is really frustrating and on top of that I have all my stocks and I can't get at all of them either there's obviously someone blocking me and hire means I just need some help and I know you guys know because through the SEC I found a lot of information so if you can please open up my funds to me that will be nice as well I am a Bitcoin minor says 2009 and all of my blocks that I mind go to coinbase and they are saying that they don't know where my native coins are cryptocurrencies So can you please release my things archetypes of the bottom of this My main goal is to help the world evolve in every way fit for the human to survive so by all means whatever money 's that I have give me half and you take half and let 's call it a day I am tired of not having anything any money my kids are getting older and I can not provide I'm on general assistance and have been most of all my life but yet in steel I have billions and billions of dollars so I haven't never seen So what that being said Can you please fix it Thank you America we stand as one
Company Response:
State: CA
Zip: 95035
Submitted Via: Web
Date Sent: 2022-01-31
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A