Date Received: 2017-12-07
Issue: Money was not available when promised
Subissue:
Consumer Complaint: I have been a user of Coinbase.com for many years, mainly buying / investing in cryptocurrency Bitcoin, Ether, and Litecoin. Since week of XXXX/XXXX/XXXX I started selling Bitcoin, of which I had no problems with an initial sale of my weekly limit of {$50000.00}. I processed an additional transaction week of XXXX/XXXX/XXXX of another {$11000.00} sale. Starting on Monday XXXX/XXXX/XXXX when trying to process a final sale of about {$10000.00} or XXXX Bitcoin the website ( www.coinbase.com ) began asking me for an ID verification. They required front and back photographs of my US Government issued Driver 's license. I had plenty of my weekly limit of sales available and this was a new requirement from the website ( www.coinbase.com ). I attempted several times on XXXX/XXXX/XXXX to upload my ID and each time it failed due to photos not being clear enough. On Tuesday XXXX/XXXX/XXXX I took high resolution digital photos of my ID and attempted to upload to www.coinbase.com. This time the server would " timeout '' after 30 mins of waiting. Still unable to sell my final XXXX Bitcoin, I attempted to upload the photos of my ID on XXXX/XXXX/XXXX XXXX times. Then I filed a support ticket with www.coinbase.com. I received nothing but a automated response to this support ticket. Still unable to sell my final XXXX Bitcoin, on XXXX/XXXX/XXXX after another 6-8 attempts to upload an ID. I submitted an additional support ticket to www.coinbase.com. I received an automated response as follows : " Thanks for writing in. We understand a large percentage of ID verification requests were not completing successfully. Our team has made improvements to this service today to increase performance. If youre still having trouble completing ID verification, we recommend trying again in 24 hours. We apologize for any convenience this may be causing. Please check our status page for the latest updates : https : //status.coinbase.com/ Thank you for choosing Coinbase. '' Access to a digital currency that fluctuates 10-20+ % / day can be the difference of thousand of dollars. Or the digital currency could go to {$0.00} and I can not have access to the money in a reasonable period of time. As I am writing this complaint, www.coinbase.com is down for maintenance claiming " ID Verification not working '' " High Traffic '' " BTC Delays ''
Company Response:
State: IL
Zip: 60657
Submitted Via: Web
Date Sent: 2017-12-07
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-12-07
Issue: Other service problem
Subissue:
Consumer Complaint: Yesterday ( XXXX XXXX ), I was using coinbase via my account to trade bitcoin. I had added my debit card to the account to initiate another deposit and then tried to initiate a {$700.00} deposit into the account. This transaction was denied twice, I think that I missed that there was an account limit of {$750.00} per month and I had already deposited {$700.00} previously ( XXXX XXXX, XXXX ). Because of this, the system flagged my account and disabled trading on it. Due to this, I was locked out of my XXXX account altogether ( XXXX and Coinbase are the same company, XXXX is a more in-depth trading site for advanced trading, I can login to XXXX through Coinbase ). This is the main problem because my initial {$700.00} deposit from XXXX is in my XXXX account, plus I had an additional {$700.00} bank deposit directly into XXXX a few days prior that was pending into that account. Altogether, with the recent rise in value of bitcoin, I have approximately {$1600.00} worth of USD/Bitcoin in XXXX which I 'm currently locked out of. Coinbase support is notoriously non-existent. I 've tried contacting their support members on XXXX, opening a case with their support, and phoning their support line, all to no avail. Essentially, I just need access back to my XXXX, and for that to happen, buying to be re-enabled on my account.
Company Response:
State: NJ
Zip: 08638
Submitted Via: Web
Date Sent: 2017-12-07
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-12-07
Issue: Managing, opening, or closing your mobile wallet account
Subissue:
Consumer Complaint: On XXXX XXXX, I opened a Coinbase account and transferred {$5000.00} from my XXXX XXXX XXXX savings account to my Coinbase USD digital wallet. I 'm a XXXX citizen doing a XXXX in the USA, so I provided my passport, XXXX ID ( and a scan of my XXXX XXXX ) a few hours later to verify my ID. At this point, Coinbase disabled my USD wallet ( on which the aforementioned transfer was pending ) and replaced it with an EUR wallet. I contacted Coinbase support immediately to make sure that the pending transfer had been canceled along with my digital wallet, and received a few irrelevant automated messages. A day later ( XXXX XXXX ), the money had left my XXXX account, and I called Coinbase which asked me for a proof of residency. I complied immediately ( rent statement, lease agreement ), and I 've been waiting for any concrete development ever since. On XXXX XXXX, an automated messaged informed me that the money had reached my USD wallet ( which is not even listed on their platform ). I asked for the transfer to be reversed pending the resolution of the problem, to no avail. I am growing anxious, given the volatility of the market Coinbase is operating in. This is a lot of money, especially for a student.
Company Response:
State: MA
Zip: 02138
Submitted Via: Web
Date Sent: 2017-12-07
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-12-06
Issue: Money was not available when promised
Subissue:
Consumer Complaint: I sent a wire on Thursday XX/XX/2017 of {$3000.00} to a compay Coinbase , Inc, located at : XXXX XXXX XXXX, XXXX XXXXXXXX, XXXX XXXX, CA XXXX It states clearly on their website : " Bank wire transfers may be credited to your XXXX account on the same day if submitted by XXXX PT. Otherwise, funds will be available after one business day. '' Its a week later now and i havent received the money in my account. I called the comany there is always at least a 30 minute wait and they tell me they have an outage and they dont know when it will be fixed! Meanwhile my money is out of my account for a week already.
Company Response:
State: NJ
Zip: 08701
Submitted Via: Web
Date Sent: 2017-12-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-12-06
Issue: Other transaction problem
Subissue:
Consumer Complaint: I am a current Coinbase.com customer. I recently traveled to XXXX on vacation and logged into my account on my cell phone because bitcoin was on the rise and I wanted to check my balance. Unbeknownst to me, XXXX blocked/locked my account and reversed 2 of my transactions ( which I have still not received the funds for yet. ) I have reached out more than a dozen times to their customer support, to no avail. I am frustrated because I just want someone to help me unblock my account. ASAP.
Company Response:
State: DC
Zip: 20002
Submitted Via: Web
Date Sent: 2017-12-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-12-06
Issue: Fraud or scam
Subissue:
Consumer Complaint: I purchased some XXXX through Coinbase using my debit card. I then sold the coins and have the funds sitting in an online wallet, the funds are in XXXX and I have been unable to get any advice out of the company as how to actually get the funds back into my bank account. They advised me to send a payment to them to verify my bank account but they still have not done this meaning i can not get access to my funds. All of the advice on the Coinbase.com website is very confusing regarding the withdrawal of funds especially if they are in XXXX. Coins bought on the XX/XX/XXXX and more on XX/XX/XXXX. This was very easy and i used my debit card. I then sold the coins on the XX/XX/XXXX. I completed the payment to them as requested on the XX/XX/XXXX which debited my bank account on the XX/XX/XXXX. Coinbase say they will then verify the account 1/2 days later. This has not been done yet and as all of the reviews online are so negative about this company I am starting this procedure now in order to get my funds out asap. I feel very misled by the company and let down by the online and telephone service.
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2017-12-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-12-05
Issue: Other transaction problem
Subissue:
Consumer Complaint: I have an account with Coinbase and have XXXX Bitcoin in my wallet ( {$2300.00} approx ). On XX/XX/XXXX, XXXX Litecoins ( {$3500.00} USD ) were purchased without my knowledge or authorization. I contacted Coinbase customer support and they opened a case ( # XXXX ). They told me to change my password and then temporarily disabled my account so I have not been able to access my funds or verify the {$3500.00} purchase. The funds have been debited from my bank account. On XX/XX/XXXX, customer support sent an email -- they determined the purchase was made on my mobile device. Since, I 've removed the Coinbase app from my mobile device and changed all passwords. On XX/XX/XXXX I contacted customer support to unlock my account but they said it required an " analyst '' but had not been assigned yet. ( This does n't make sense since they determined the purchase was made on my mobile device and they had the IP address. ) To date, I 've received no communications ( phone or email ). I do not have access to my funds which now exceed {$7000.00}. I try to contact customer support but the wait time is over 30 minutes. Most times the line is cut after getting a customer support person on the line. I 'm very concerned that the price of Bitcoin and Litecoin may drop suddenly given the volatility and would like to cash out ASAP.
Company Response:
State: CA
Zip: 92240
Submitted Via: Web
Date Sent: 2017-12-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-12-05
Issue: Other transaction problem
Subissue:
Consumer Complaint: My account has been locked for at least 1.5 weeks but probably longer. I started receiving login errors on XXXX XXXX, XXXX. The last time I accessed the account was on XXXX XXXX, XXXX. After numerous emails and an 38 minute phone call, Coinbase wo n't unlock it. They wont say when it was locked, why it was locked and when it could be unlocked. I just want access to my account ; to verify that my virtual currency is still in the account ( as I 've heard of numerous hacking attacks ) and to cash out some of it now. Below is some correspondence between myself and Coinbase. XXXX/XXXX/XXXX 1st email to support - I suspect a bot responded with a generic will look into it email. XXXX or XXXX 2nd email to support - No response XXXX/XXXX/XXXX - Found out they started offering phone support and called it. Consisted of 30 minutes of hold time and 8 minutes of no help by the support specialist. Support did n't know why the account was locked or when it would be unlocked. XXXX/XXXX/XXXX - Automated email received from Coinbase regarding some tips which does n't help my locked out problem. XXXX/XXXX/XXXX - problem persists with no resolution on site. I have exhausted all options and I 've read that this federal agency can force them to comply. I really appreciate all your help.
Company Response:
State: IL
Zip: 60657
Submitted Via: Web
Date Sent: 2017-12-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-12-02
Issue: Other transaction problem
Subissue:
Consumer Complaint: I own a small amount of bitcoin currency ( approximately XXXX BTC ), and on XX/XX/XXXX, I transferred this amount to my Coinbase.com account 'vault '. On XX/XX/XXXX, ( and again on XXXX XXXX ) I tried withdrawing these funds from my Coinbase vault, but due to a bug or glitch in their website I am unable to do so. I have been emailing their support repeatedly for 3 weeks now with no success. My funds ( worth over {$1000.00} USD ) are stuck in their website, and I have not received any response from their Support since XX/XX/XXXX, despite sending them SEVEN ( 7 ) additional inquiries via email since that date. I have received a total of three ( 3 ) responses from their support, between the dates of XX/XX/XXXX, but these were completely automated and/or boilerplate responses that provided no help whatsoever. I have not received an update or even courtesy response in over two weeks. According to their website, the withdrawal from vault process requires two ( 2 ) approvals which are sent via email to the Primary and Secondary emails listed on the account. The problem or glitch in their website is that they have the SAME EMAIL listed for my primary & secondary email addresses ; However, I only receive a single approval email, and thus I am only able to provide a single approval instead of the two ( 2 ) approvals needed. This coupled with their lack of support is completely unacceptable. I do not know why they have my same email address listed for both primary & secondary email, nor why that is even possible, and there is no way to fix it or change either address when trying to do so through their website user interface. PLEASE HELP.
Company Response:
State: TX
Zip: 75154
Submitted Via: Web
Date Sent: 2017-12-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-12-02
Issue: Other transaction problem
Subissue:
Consumer Complaint: Buys and deposits are disabled in my account on Coinbase without any reason. I contacted Coinbase support but they do n't answer. In my wallet there are XXXX and they have verified my phone number, my ID and my banck account. So there 's no reason I ca n't buy cryptocurrency.
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2017-12-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A