Date Received: 2018-03-19
Issue: Other service problem
Subissue:
Consumer Complaint: My account with Coinbase has been " temporarily disabled '' since XX/XX/2018. My account was frozen by Coinbase after I reported a 3rd party was attempting to access my account. In the last 4 weeks I have emailed and called on numerous occasions, trying to have this restriction removed. Support staff keep telling me " specialists '' are looking at my case. Apparently these " specialists '' only operate via email and the support staff has no way to contact them. I have several thousand dollars being held captive by Coinbase and I feel nothing is being done to resolve my issue.
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2018-03-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-03-19
Issue: Money was not available when promised
Subissue:
Consumer Complaint: Coinbase Inc. disabled buys and my login without any warning or due cause. Despite numerous emails and calls, no action has been taken and all my assets and money are locked out from me for absolutely no valid reason. They just send me a generic email ( probably generated by a computer bot ) that my case has been " escalated ''. I am not the only one and the internet is full of horror stories of Coinbase which has locked people 's money for no reason. I have around XXXX ETH tokens and XXXX BITCOIN Cash tokens that I have been holding with Coinbase. They assigned me a case number # XXXX. I have been trying to get a reply from them since the XX/XX/2018.
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2018-03-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-03-18
Issue: Fraud or scam
Subissue:
Consumer Complaint: I withdrew {$190.00} from my US Dollar wallet on Coinbase on XX/XX/XXXX at XXXX XXXX. I was told through their online system that it would arrive within 3-5 business days. Today is XX/XX/XXXX and still no deposit into my bank account. I contacted their customer support and was told it is completed on their end. They easily and quickly take money from my bank account and then lie about returning it. I'm not the only one experiencing this issue. I've also created a reddit post where others have complained about the same issue.
Company Response:
State: CO
Zip: 80205
Submitted Via: Web
Date Sent: 2018-03-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-03-17
Issue: Money was not available when promised
Subissue:
Consumer Complaint: I have opened a Coinbase account last year and had go through a few transactions before it was unabled. Previously, I still able to withdraw, deposit and buy from the account. However, since last XX/XX/2017, I faced this issue for not able to do anything with the account such as buying, withdrawing and depositing. I just want the money to be out from that account so that I could pay for my expenses. I have contacted Coinbase support team so many times, and they told me to wait until the Specialist looked over my case. They even say I was at the highest priority level but until today, they still have not solve my issue. I also saw many comments about the same issue in XXXX and have posted my issue there. Also, I sent several personal message to the coinbase staff through XXXX since they did replied to some of the comments in the post. Unfortunately, no one response to me. This issue has been up for more than 5 months since last year and I really want it to be solve.
Company Response:
State: IA
Zip: 528XX
Submitted Via: Web
Date Sent: 2018-03-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-03-17
Issue: Other transaction problem
Subissue:
Consumer Complaint: I had been investing in XXXX on coinbase. On XX/XX/XXXX I saw my checking account had been charged 4 transactions. 2 for {$200.00} and 2 for {$100.00} from coinbase. I looked at my account on coinbase and no currency had been added to my account, it was only a debit from my checking. I called my bank and reported the charges. The next day XX/XX/XXXX, they were credited back and my checking account and my coinbase account were where they should be. On XX/XX/XXXX I got an email stating because of the reversal by my bank they were taking the funds back. They then withdrew those same 4 amounts from my coinbase account leaving me with nothing. I have had multiple contactys both by phone and their email support and I get the same answer that they will assign to specialist and no one ever follows up with me. Ever.
Company Response:
State: OH
Zip: 43229
Submitted Via: Web
Date Sent: 2018-04-09
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-03-17
Issue: Wrong amount charged or received
Subissue:
Consumer Complaint: I am writing this email in regard to the coinbase class action lawsuit pertaining to the miserably failed launch of the BCH USD Trading pair on Coinbase / XXXX. I lost funds during the debacle and would like to know how it would be possible to become a part of the lawsuit. I wrote several emails to XXXX support and was hung up on twice by support staff when they refused to answer my questions. They even referred me to a " rule '' in their terms of service stating that they could halt trading on the exchange as they seemed fit, this rule was added AFTER they screwed up the BCH launch. This is an excerpt from the message sent to them : " I placed an accidental buy market order on BCH instead of XXXX with all the funds available in my account ( Approximately {$12000.00} ). This was my mistake, yes. Had it occured on a normally traded pair such as LTCUSD or ETHUSD, I would not have minded the slight loss of my error. Not even a half a second after I realized my mistake, I attempted to sell out and XXXX halted trading knowing full well that over 2k BCH had been sold and bought at manipulated prices. When trading opened today at XXXX PST, I frantically attempted to sell in order to salvage what was left of my funds and managed to cash out at ( XXXX XXXX ) which left my account at {$6600.00} for a Total loss of {$5700.00}. All because of a failure to make sure there was enough liquidity in the books before opening a new trading pair. ''
Company Response:
State: FL
Zip: 33018
Submitted Via: Web
Date Sent: 2018-03-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-03-16
Issue: Other service problem
Subissue:
Consumer Complaint: I use a service called " Coinbase '' to buy and sell digital currency. I have roughly {$5000.00} USD with this 3rd party and have had an unacceptable experience with their customer service. Just over a month ago, my cellphone was stolen and so I had Coinbase freeze my account fearing unauthorized access to my funds. I have called and emailed Coinbase numerous times to resolve this issue and each and every time they give me vague reassurance that they will unlock my account eventually. Apparently this needs the attention of a specialist who evidently needs more than 1 month to click through a few links and unfreeze my assets. This customer service is unacceptable and even borderline criminal as my investments have declined in value and I have been locked out of making trades to protect myself. I want to put this issue forward with the CFPB in an attempt to warn others from this service. Hopefully this will also draw attention to their customer service shortcomings and give their clients the respect they deserve!
Company Response:
State: LA
Zip: 70003
Submitted Via: Web
Date Sent: 2018-03-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-03-16
Issue: Trouble using your card
Subissue: Can't use card to make purchases
Consumer Complaint: I was sent unauthorized charges due to an XXXX error on XXXX 's behalf. Disputed the charges, resolved the issue. Due to the issue, I unlinked my card and closed my account in order to not have any more charges sent. Figured coinbase issues were solved so I sign up, verify identity, payment info ... and they will not unblock me to make purchases. I submitted tickets and were told I'd receive a message back in a few days with no response.
Company Response:
State: NY
Zip: 11435
Submitted Via: Web
Date Sent: 2018-04-09
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-03-16
Issue: Fraud or scam
Subissue:
Consumer Complaint: In XX/XX/XXXX, I established an account with Coinbase, Inc in order to buy and sell cryptocurrency on the XXXX exchange available on their website. On XX/XX/XXXX, I complied with Coinbase 's instructions ( from their website ) for wiring funds domestically from my personal bank account into my Coinbase account. Specifically, on XX/XX/XXXX, I visited my bank XXXX XXXX XXXX XXXX XXXX XXXX XXXX and initiated a wire transfer in the amount of {$37000.00} from my XXXX XXXX XXXX XXXX XXXX bank account into the designated bank account for Coinbase ( per their wiring instructions ). The wiring instructions on the Coinbase website listed their bank account number as XXXX and their bank routing number is XXXX. I also included the reference code " XXXX '' in my wire transfer, as directed by the Coinbase website wiring instructions. My domestic wire transfer in the amount of {$37000.00} was completed on XX/XX/XXXX. After accessing my Coinbase account about a week and a half later, I was shocked to learn that none of these funds were ever credited to my Coinbase account even though the entire {$37000.00} was transferred out of my personal bank account. I called XXXX XXXX XXXX XXXX XXXX and was provided with an XXXX number confirming that my {$37000.00} was successfully transferred from my personal bank account into the bank account designated by Coinbase. This IMAD number is XXXX. My attempts to contact Coinbase in XXXX by phone failed because their answering service stated that they can not resolve wire transfers over the phone. In addition, when I called a second time in an attempt to speak to a person, I waited on the phone on hold for over an hour before giving up. In response to a complaint I filed with Coinbase Case ( which Coinbase regarded as Case # XXXX ), I received a generalized email from their support staff on XX/XX/XXXX stating in part that " Bank wires will be automatically credited to your account when received. '' In response, I checked my Coinbase account and surprisingly did not see any funds credited to my account. I then replied on to Coinbase Support on XX/XX/XXXX complaining that I still have an outstanding issue with my {$37000.00} bank wire initiated on XX/XX/XXXX. On XX/XX/XXXX, Coinbase Support emailed me back and stated in part that " From this end, it appears that your transaction has now been verified and you should be all set. '' After checking my Coinbase account and again not seeing any credited funds, I replied via email on XX/XX/XXXX complaining that " This issue has not been resolved. The {$37000.00} that I wired to Coinbase over 4 weeks ago has not been placed into my Coinbase account. '' In this email to Coinbase Support, I also attached a printed receipt verifying the wire transfer, I provided the XXXX number, and I also attached a screen-shot of my Coinbase account revealing no transactions relating to the wire transfer. On XX/XX/XXXX, Coinbase Support emailed me stating in part " Having investigated the issue, I am working with a specialist to address it properly. We will follow-up with you as soon as we have an update. '' I emailed Coinbase Support on XX/XX/XXXX, stating that the " {$37000.00} wire deposit into my account has not been resolved. I just checked my account and there is still a zero balance. I have just verified that my money has not been placed into my account. '' As of XX/XX/XXXX, Coinbase failed to follow-up with an update. Therefore, I emailed Coinbase Support complaining that it has been over 6 weeks since the wire transfer and demanding they grant me access to my {$37000.00}. As of XX/XX/XXXX, Coinbase still failed to follow-up with an update. I emailed them on this date stating again that the funds were deducted from my XXXX bank account but were never placed into my Coinbase account. I also provided my XXXX number again. In this email, I characterized Coinbase Support 's statements to me as " misrepresentations '' wherein they claimed my transaction has been verified and the money is set up. In this email, I warned that further failure to provide me access to my money would result in a complaint to the Consumer Financial Protection Board. On XX/XX/XXXX, in a very generalized email, Coinbase Support emailed me with apologies for the delayed response and an excuse that they have received a significantly increased number of requests recently. As of the time of the drafting of this complaint XXXX XXXX, XXXX XXXX, I checked my Coinbase account only to learn that none of the {$37000.00} wired to Coinbase 's bank account have ever been credited to my Coinbase account. In addition, my wired funds in the amount of {$37000.00} were never returned to my personal XXXX XXXX XXXX XXXX XXXX bank account. On their website, Coinbase states that wire deposits will typically arrive within 1-2 days, and Coinbase also states " Bank wires will be automatically credited to your account when received. '' On their Coinbase Support page in XX/XX/XXXX, they declared outgoing wire delays but that " Deposits via wire transfer are not currently delayed. '' No such degraded service announcements exist on their support page as of today. In the unlikely event I somehow made an error in the wire transfer, the Coinbase website explains that " Wires not meeting this criteria will be returned to the originating account after several business days. '' By all accounts, Coinbase , Inc has received my {$37000.00} and refused/failed to either credit my Coinbase account or return my money to my originating bank account at XXXX. Their representations about the transaction being verified and the funds set up are erroneous and fraudulent. Their promises to look into this and follow-up with me with updates are equally false and fraudulent. Based on their action and inaction, I believe Coinbase, Inc has no intention of granting me access to my money as promised and has scammed me out of {$37000.00}
Company Response:
State: TX
Zip: 78251
Submitted Via: Web
Date Sent: 2018-03-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-03-16
Issue: Managing, opening, or closing your mobile wallet account
Subissue:
Consumer Complaint: I opened an account with coinbase in order to purchase and store bitcoins. After purchasing bitcoins, I was able to safely store them in a digital wallet and, more securely, in a digital vault. In order to verify withdrawal transactions from the vault that I had created, I was asked to list a secondary e-mail address as confirmation. I have since lost access to this secondary e-mail address and have not been able to withdrawal my funds from the digital vault to my digital wallet on coinbase. I have e-mailed them numerous times asking if this issue can be resolved. In reply, I was told that they would be able to safely transfer my funds from my vault to my wallet and that they were working on the issue. It has been over 3 months now and I am still waiting for them to resolve this issue.
Company Response:
State: IL
Zip: 60532
Submitted Via: Web
Date Sent: 2018-03-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A