Date Received: 2018-01-06
Issue: Other transaction problem
Subissue:
Consumer Complaint: I own three types of cryptocurrency ( Bitcoin, Litecoin, and Ethereum ) and manage them using Coinbase. For each currency I have a wallet and a vault on Coinbase. The wallet allows me to send/receive and buy/sell currencies. The vault allows me to store my currencies more safely. On XXXX XXXX, XXXX I made transfers of all three of my currencies from my vaults to my wallets. The transfer from the vault has a 48 hour waiting period and requires the approval from two separate email addresses for security. The Bitcoin and Litecoin transfer went smoothly. When I initiated the Ethereum transfer, I did not receive an email to either address. I was also not able to cancel the transfer and attempt to start a new one. I was attempting to transfer XXXX ETH ( {$1300.00}, but worth more now ). I contacted Coinbase through their online support site immediately at XXXX and XXXX XXXX the same day. After no response, I contacted them again on XXXX/XXXX/XXXX. I have also attempted to reach them by phone multiple times since the XXXX, but have never gotten through ; sometimes waiting on holds for hours. On XXXX/XXXX/XXXX I received a generic response from XXXX outlining Coinbase 's policy on priority support cases. I replied the following day restating my claim and stating that mine was a priority case according to their policy. I never got a response from XXXX. On XXXX/XXXX/XXXX I received a response from XXXX explaining what a Vault is and directing me towards their FAQ page ( which I had read and re-read thoroughly ). It was evident that either XXXX had not read my original case, or it was a automatic response. I responded to XXXX to following day again restating my original claim. I have not heard from XXXX since. Here is the complete line of communication with Coinbase that I have just described : XXXX XXXX XXXX XXXX, XXXX XXXX I transferred from all 3 of my vaults to wallets. The BTC and LTC transfers were approved and say they are waiting the 48 hour period. However, now my accounts do n't show that currency in either my vaults or my wallets. Is that normal? Also when transferring from my ETH vault to my ETH wallet, the website crashed and now it says that the ETH transfer is " Waiting on a Signature '', the currency also does n't show in either the wallet or vault. What does that mean? I know you 're busy right now, thanks for your help. XXXX XXXX XXXX XXXX, XXXX XXXX I attempted to transfer from my ETH vault to my ETH wallet but the Coinbase website crashed in the middle. Now the current does n't show in either account, and the transfer says in it " Waiting for Signature '' but also wo n't let me cancel the transfer. I never received any approval email. XXXX XXXX XXXX XXXX, XXXX XXXX Ok so it 's been 48 hours and my LTC and BTC transfers are complete and the funds are in my wallet, but the ETH transfer in still in limbo " Waiting for Signature ''. Please help, I would like to access my ETH funds. XXXX XXXX XXXX, XXXX XXXX Thank you for contacting Coinbase support. Coinbase has experienced unprecedented levels of website traffic resulting in increased support wait times. The purpose of this notice is to explain how we are prioritizing our responses. Our first priority will be resolving trust and safety issues and payment issues. These specifically include : Account lockouts ( password resets, 2-factor authentication, device verification, lost access to email address ) Delayed payments or orders If your issue is one of these priority issues : : Review our Support Center content : https : //support.coinbase.com/ If you are still unable to resolve your issue, reply to this message with as much detail as possible Our next priority will be the issues listed below. You can find solutions to these issues in our Support Center : https : //support.coinbase.com/. Please carefully review the solutions presented in the Support Center as this will be quickest way to resolve your issue. These issues include : New account registration and setup Limit increase requests ID verification not related to lockouts, etc. Bypassing 24-hour lock-out windows Buy and Sell restrictions Country changes Linking new cards Order cancellations Bypassing transaction times Referral bonus inquiries Digital currency transactions external to Coinbase General questions about Coinbase and digital currencies You can always monitor the status of Coinbase here : https : //status.coinbase.com/ Coinbase is committed to providing excellent customer support and the highest quality customer experience. Thank you for joining us as a customer and partner in our mission of creating an open financial system for the world. We appreciate your patience as we grow with the digital currency community XXXX XXXX XXXX XXXX, XXXX XXXX On XXXX/XXXX/XXXX I transferred XXXX ETH from my ETH Vault to my ETH wallet. The amount still has not been transferred and it will not allow me to cancel the transaction and try again. When I look at the details of the transaction it says " Waiting for Signature ''. I need to be able to access those funds. Thanks. XXXX XXXX XXXX XXXX XXXX, XXXX XXXX Hello XXXX, Thank you for contacting Coinbase! Sorry for the trouble and for the delay on responding. Vault withdrawals require approval from both the primary account email address, as well as the secondary vault email address. When a vault withdrawal is created, we email both accounts with approval links. Both of these links need to be opened for the withdrawal to proceed into the 48 hour waiting period prior to completion. If you are having trouble finding both emails, I recommend cancelling your current pending withdrawal and starting a new one. This will generate a fresh set of approval emails. Please keep in mind, if you see the message You have already performed this action. You will want to logout of your primary Coinbase account prior to clicking the verification link. For more information on our Vault, please refer to the following link : https : //support.coinbase.com/XXXX Please let me know if you have any questions. Thank you for choosing Coinbase! You can always visit our self help tool found at https : //www.support.coinbase.com for more issue resolution steps. If you require further assistance, please let me know. Thanks, XXXX Coinbase Support XXXX XXXX XXXX XXXX, XXXX XXXX XXXX , Thank you for the response, but it does not address the problem I am having. I am unable to cancel the transaction and start a new one. That option is not given to me. Also, I have never received either confirmation email regarding the transfer. My ETH is still stuck and inaccesible to me. How can I either cancel the transaction and restart the approvals? -XXXX
Company Response:
State: OH
Zip: 44024
Submitted Via: Web
Date Sent: 2018-01-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-01-05
Issue: Money was not available when promised
Subissue:
Consumer Complaint: XXXX, XXXX on the XX/XX/XXXX Hello, It 's been weeks that I would like to log in to my account at : https : //support.coinbase.com I received a response on XX/XX/XXXX and answered XX/XX/XXXX to the question asked may then nothing not answer always a machine that responds no e-mail address! no phone number! ( Anyway I do not speak English! ) I would like to sell my Bitcoins and get my MONEY back. Thank you for your help I created an account on XX/XX/XXXX for the amount of XXXX EUR on the website : https : //www.coinbase.com I was in XXXX but I do not live there, I travel by bike around the world may have a tax address in XXXX my country, The XXXX I have unfortunately broken my XXXX XXXX is also my XXXX XXXX of the company XXXX XXXX number : XXXXXXXX XXXX XXXX XXXX XXXX. Then I could no longer tank the XXXX to connect! The procedure to register my new number here in XXXX : XXXX XXXX XXXX. DO NOT WALK he writes : '' The phone number is invalid '' I requested the reset of my account Here help me recovered my Bitcoins my money!!! ( This and a translation of XXXX XXXX )
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2018-01-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-01-05
Issue: Money was not available when promised
Subissue:
Consumer Complaint: I signed up with Coinbase.com in order to deal in cryptocurrency, but have been seriously let down by their service, with no ability to withdraw my funds and no lucid support beyond irrelevant auto-responses. There is no number to ring and, as far as I am concerned, all of my attempts to contact them have been ignored, so their support is, effectively, non-existent. I 've done some investigation into customer reviews here and on other websites and my case is apparently only one of many. Currently I have XXXX on account with them that I have repeatedly been trying to withdraw since XX/XX/XXXX with no successful conclusion. Their process requires the user to " verify '' their bank account by sending a small XXXX payment with specific details they include to facilitate this clearance. I have done this twice at some additional expense to myself and can see these transactions have been received by coinbase, but the withdrawal procedure keeps asking me to do this - or to state I have already done so. Then I get a message saying there are delays and to wait 1 or 2 days. I have been visiting their website every day since and re-trying this procedure, to no avail. The company seems to have no difficulty in taking money from customers who have placed their trust in them My own view is that if they are unable to process client payments in a timely manner then they should temporarily suspend new members from joining until they can sort things out. Other users are pleading for them to sort out clients with larger investments in favour of small investors. I appreciate that there was a sudden dip in cryptocurrency, which may have led to a market panic on the XX/XX/XXXX when XXXX co-founder announced that bitcoin is " useless '' and I watched all 4 currencies ( Bitcoin, Bitcoin Cash, Ethereum & Litecoin ) plummet in value. Indeed I lost about 100 myself. I had initially invested XXXX with Coinbase and am trying to cut my losses and recover my funds. If I was certain I could deal with Coinbase effectively I would still like to trade using their platform, but I am growing suspicious about relying on them to return my funds when I wish to withdraw money. I expect short delays, perhaps 24 hours till banks are open, or 48 hours at weekends, perhaps even longer during public holidays, however this has been an excessive amount of time now - and, as I said, there are innumerable other clients posting negative reviews about this US company. It is already suspicious that they openly use an XXXX XXXX, but the international community will associate this type of bad practice with the United States, so we are angry that such a company can be allowed to treat us so badly. This type of bad business is also adversely affecting the entire cryptocurrency market as people are losing faith fast. I may only have had a total of XXXX involved, but there are other users who have invested in the tens of thousands and one individual who got some bitcoins for his daughter - who was subsequently unable to cash in her present for XXXX as planned. The situation is outrageous. I urge you to please search out other customer reviews and bring these people to task as quickly as possible before any more people lose money. Here are two I could find. https : XXXX http : XXXX
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2018-01-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-01-06
Issue: Money was not available when promised
Subissue:
Consumer Complaint: On XXXX XXXX, I did a wire transfer of {$40000.00} to Coinbase from my checking account ending in XXXX. I was expecting it by next day but when I called their bank " XXXX XXXX XXXX '' that was in charge of all wire transfers for Coinbase about the transfer, they told me that due to a memo issue my funds will not be accepted and should be returned to my account within 3-5 business days. I call back a week after to XXXX XXXX XXXX after noticing my funds has not been refunded yet. They told me that due to the influx of new users sending transfers from Coinbase that the wire deposits and refunds may be delayed. I can either send a recall message or just wait up to a month for the deposit to automatically be refunded to my account. Due to recall messages having a cost, I decided to just wait longer for my funds back. Fast forward to a few more weeks. It 's been a month already since I first wired the deposit and at this time I 've already sent out 2 support tickets, 4 emails, over 9 phone calls, and even go as far as to contact Coinbase through their twitter account, but no response. The only time they did responded to me was saying that the funds were refunded already but it was not. I decided to do a recall message from my bank " XXXX XXXX XXXX '' and called XXXX XXXX XXXX again after a few days to make sure that the recall message was sent. They told me that the message is received by Coinbase and just waiting for them to send me back the funds. It 's been a month already after the recall message and I still have not received my funds. So a total of 2 and a half months of wait time with no response from their phone support, no response from support ticket, no help from the one time they responded to me on email which 3 of the emails were ignored, I am still missing my {$40000.00} from Coinbase. I am very unhappy with how Coinbase is holding my funds for such a long time and this is the reason why I 'm filing the complaint.
Company Response:
State: NV
Zip: 89103
Submitted Via: Web
Date Sent: 2018-01-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-01-06
Issue: Money was not available when promised
Subissue:
Consumer Complaint: After making numerous XXXX transfers into my Coinbase account, from my bank account. They will not let me withdraw any of this money to the same bank account it came from, with Coinbase saying its an unverified bank account. Have I been scammed? Keeping someones money against their will is theft, and I have reported their actions to the local XXXX Police authorities. The crime reference number I have posted to the Coinbase support pages.
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2018-01-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-01-06
Issue: Money was not available when promised
Subissue:
Consumer Complaint: On XXXX XXXX and XXXX XXXX I conducted a Bank Wire Withdrawal with Coinbase App. Coinbase did not imform me they were having delays with their Bank Wire option and charged me a service fee of {$25.00} for each Bank Wire. On their website it states bank wires are immediate or 1-2 business days unless submitted after XXXX. Well its XXXX XXXX now and I still have not received my monies from them. I have communicated with them VIA phone call. After hour long hold, they did not give me an estimate on when I will have my funds released to me from them. I have opened to escalation tickets and no replies from them. I have even tried getting their attention on XXXX and no replies back on the matter. I am waiting for {$570.00} in total. When I first spoke to a Coinbase representative on XXXX XXXX they stated that the only thing they can do is escalade the matter. I requested a refund of the two {$25.00} wire service fees but was denied. The second time I called on XXXX XXXX They told me they are having small delays and I should have my monies soon but could not give be a solid estimation. On their website by time it stated they are having 1-10 business day delays on wire withdrawals. The third time I called I got the same information, they do n't know when they will have the monies in my bank as promised before. Its been 20 business day Coinbase has not paid my monies.
Company Response:
State: FL
Zip: 33071
Submitted Via: Web
Date Sent: 2018-01-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-01-05
Issue: Other transaction problem
Subissue:
Consumer Complaint: On XXXX XXXX, I purchased XXXX BTC for {$700.00} plus {$28.00} in fees from Coinbase , Inc . The fees were due to the use of a credit card for the purchase. The purpose of using a credit card was the instant purchase - bank purchases take 5-7 business days. The purchase was confirmed, with reference XXXX. The BTC did not instantly arrive in my account. The day was a high volume trade day, and Coinbase , Inc. struggled to stay live, with periodic outages during the day. When the instant purchase still had not cleared on XXXX XXXX, I contacted Coinbase - the transaction showed as " Pending '' online. I requested that the credit card fees be waived, as the " instant '' purchase was no longer instant. I again contacted Coinbase on XXXX XXXX, as the transaction was still marked as " Pending. '' On XXXX XXXX I received an email from XXXX, replying from XXXXXXXXXXXX, informing me he referred the matter to a specialist who would " follow up with [ me ] as soon as [ they ] have an update. '' Two days later, on XXXX XXXX, I again wrote to follow up, having received no response. I again wrote to Coinbase on XXXX and XXXX XXXX, following up on this purchase, which still showed as " Pending. '' Today, on XXXX XXXX, I finally received a response from Coinbase , Inc . They cancelled my purchase, writing, " When we attempted to process this transaction it was canceled by your bank. If your payment method was charged, you will receive a full refund. '' This, it turns out, is patently false. I have contacted my bank and they have no record of any attempted transaction for the amount in question. They have the credit card transaction from earlier that day for the amount of {$1200.00}, and subsequent transactions from XXXX, XXXX, XXXX ( two ), and XXXX XXXX as well as XXXX XXXX. There is no issue with my bank or the card. Coinbase did not process the instant payment for a transaction they confirmed. Since the fault is not with my bank or method of payment, I expect Coinbase to honor the purchase of XXXX BTC for {$700.00}, and to waive the {$28.00} fee. As noted above, Coinbase experienced multiple service outages on XXXX XXXX, and I am in disbelief that they wish to blame an external party rather than accept responsibility for their insufficient transaction capacity. Many people attempted transactions that were not processed or confirmed - while that is disappointing, such instances differ from this one, in which I had a confirmed transaction at a time in which Coinbase 's system was functioning.
Company Response:
State: TX
Zip: 77581
Submitted Via: Web
Date Sent: 2018-01-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-01-05
Issue: Fraud or scam
Subissue:
Consumer Complaint: Hello, On XX/XX/XXXX, I sent a wire transfer to Coinbase to the amount of $XXXX. A day later, Coinbase responded by saying the name of the wire did not match my account information, and thus they needed to reverse the wire. That email was sent on the XX/XX/XXXX, and they confirmed that the wire would be reversed in roughly 7 business days. It has now been 16 days since that email, and the funds have not shown up in our account. We have tried contacting support multiple times, and we have supplied them with relevant information regarding the wire.Warm Regards,XXXX
Company Response:
State: NY
Zip: 10023
Submitted Via: Web
Date Sent: 2018-01-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-01-05
Issue: Other service problem
Subissue:
Consumer Complaint: My Coinbase account is restricted due to an error. It says I 'm living in a prohibited country, but I 'm not. I have around 50.000 on my Coinbase account and right now I do n't have access to it. I contacted Coinbase so many times without any result. I got them on the line 1 time and they opened a ticket for me to solve the issue. the ticket was created on XXXX/XXXX/2017 with number XXXX But still no answer. I really need access to my money. Even if they do n't open my account, I would like to have a refund of my money on my account and my coins should be send to my wallet. I hope you can help me with this issue. I ca n't sleep for days because of this. This was my whole life savings. Best regards
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2018-01-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-01-05
Issue: Money was not available when promised
Subissue:
Consumer Complaint: On XX/XX/XXXX I sent a {$70000.00} wire to Coinbase including only the exact information they required ( without any extraneous info ) to credit my account on Coinbase. As of XX/XX/XXXX ( today ), SIXTEEN days later, my wire transfer to Coinbase is STILL not there. Although Coinbase claimed next day availability ( on their website ) for wire transfers as of XX/XX/XXXX. I filed an online complaint through XX/XX/XXXX/Coinbase after about a week, as well as ~ 2 weeks later .... and then called and even had that escalated to an upper tier, and the response I received was to stop calling because it delays the process ( see attached documentation. How much longer could this possibly take, the one day turnaround has been more than 2 weeks? I have missed out on huge possibilities because of their promises. I needed the money I sent to Coinbase so I could buy Bitcoin instantly at {$12000.00} and now it has reached over {$16000.00} ( who knows where I will even be able to buy it back in at this point ) .... I believe Coinbase has done this deliberately something fishy is going on here.
Company Response:
State: KY
Zip: 410XX
Submitted Via: Web
Date Sent: 2018-01-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A