Date Received: 2017-12-01
Issue: Money was not available when promised
Subissue:
Consumer Complaint: I initiated 3 separate wire transfers with Coinbase ( XX/XX/XXXX, XX/XX/XXXX and XX/XX/XXXX ) and none of these transfers were received on the dates promised. I opened several support tickets with the company and only one was responded to ( only once ) stating there was a bug with wire transfers and they were looking into the problem. In their support email, they told me : " If you dont see the funds within the next 2-3 business days, please let us know. Thank you for your understanding. '' I did not receive the funds in 2 - 3 business days ( it has been 6 days since they sent this email ). After 4 days passed, I responded to them explaining that I had not received the funds. They did not reply to me. I opened several other support tickets, but none were responded to. I also emailed the CEO 's public email twice requesting that my case not be ignored and have not received any word back. I 've also called my bank and asked if they saw any pending wire transfers on their side, but they did not.
Company Response:
State: NY
Zip: 125XX
Submitted Via: Web
Date Sent: 2017-12-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-11-30
Issue: Money was not available when promised
Subissue:
Consumer Complaint: On XX/XX/XXXX i transferred XXXX GBP to my coinbase euro wallet. The money left my XXXX XXXX account in XXXX and was not deposited in my euro wallet. I used the bank details provided by the mobile app at the time, which did not state that the deposit needs to come from an account that matches my verified name. I have since tried to make contact on many occasions. these include - email XX/XX/XXXX, XX/XX/XXXXr and XX/XX/XXXX - XXXX XX/XX/XXXX, XX/XX/XXXX and XX/XX/XXXX So 6 times in total, the phone lines are always too busy and service just hangs up
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2017-11-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-11-30
Issue: Fraud or scam
Subissue:
Consumer Complaint: Hi, I have a XXXX account which I had been using successfully for a few months. My last transaction sent to XXXX was for XXXX on the XX/XX/XXXX which successfully went through. Just before the money arrived in my XXXX account, I found that I could n't login and that my username or password was incorrect. After attempting to gain access many times ( I know the password ) I went for a password reset which, again, did n't help. Now it says my account is disabled and to contact support, who have not replied and are of no help at all. I 've tried contacting them through all of the different channels, and they are not responding. I do n't know why my account is disabled, I do n't know how to get it reactivated and they have my money. I feel like XXXX is a complete scam. Please help, I 'm not sure what to do now. Thanks, XXXX
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2017-11-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-11-30
Issue: Other transaction problem
Subissue:
Consumer Complaint: Late in the evening on XX/XX/XXXX and first thing in the morning on the XX/XX/XXXX I am still unable to make purchases through Coinbase. It says my account is XXXX and I was making purchases earlier this week without any issues. How convenient that the system was down when the price was down and how convenient the system was down when the price was up
Company Response:
State: CO
Zip: 80020
Submitted Via: Web
Date Sent: 2017-11-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-11-29
Issue: Fraud or scam
Subissue:
Consumer Complaint: I have an account with Coinbase containing Bitcoins ( BTC ) currently valued at more than {$100000.00}. Despite a history of transfers of money between my Coinbase account and my bank account on numerous occasions, Coinbase suddenly and erroneously froze my Coinbase account without explanation more than one month ago. I am prevented from selling, buying, transferring or accessing my property and also cutoff from all transaction history and other information. After repeated prompting via emails and phone calls, Coinbase advised me that I am locked out of my account as a result of a security software error on their end and that they would look into it. That was a month ago. My Coinbase support account will show email after email ( all initiated by me ) attempting to engage Coinbase in basic dialog during this time so that Coinbase might solve this technical error. Similarly, the support records will show numerous calls ( all initiated by me ) to Coinbases phone support. At no time has Coinbase proactively contacted me, followed up or provided any meaningful response or made any attempt to fix the errors in their system in order to provide me with access to my property. Each email and call results in the same thing -- a form response of " we will get back to you. '' Coinbase does not get back to you. During my most recent call with Coinbase, I was advised that the department that can handle the required technical fix is also the department processing new customer accounts and is very backed up with its new business endeavors. This is obviously ludicrous on its face telling an existing customer that a minor technical issue that is cutting him off from his property can not be timely handled because Coinbase would like to increase its influx of new customers. Any broker or bank or other online service would have dealt with this issue within five minutes during the initial phone inquiry. I believe Coinbase has engaged in fraud by knowingly marketing a service it knows it can not actually provide. Coinbase markets itself as an online wallet and vault in which to safely store and use your Bitcoins. However, as shown by my situation and hundreds and hundreds of similar complaints from other users, they do not have the actual ability at this point in time to provide their services at a basic, commercially reasonable level. And Coinbase knows this. Coinbase knows it does not have the infrastructure to timely and adequately meet customer needs. They do not have the necessary resources to address even the most basic customer inquiries or to address technical issues arising from their system. Yet Coinbase continues to bring in new customers, which will only exacerbate their inability to provide the services they are selling. As a result of their inability to provide the promised services, Coinbase effectively cuts off consumers form their rightful property and forces risk of loss and lost profits on the consumer.
Company Response:
State: NY
Zip: 11530
Submitted Via: Web
Date Sent: 2017-11-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-11-29
Issue: Money was not available when promised
Subissue:
Consumer Complaint: Hi, I recently wire transferred {$17000.00} to my CoinBase account. This wire took place on the XX/XX/2017. Since then my account has been locked, and CoinBase is unable to verify my address linked to my account. Without proper verification and completion of the ID quiz, I am unable to buy, sell, or withdraw any money from the platform. I have called multiple times and have been told that " a specialist is working to verify my account '', however it has been a week and the problem is yet to be solved. My money is locked in a limited CoinBase account and can not be withdrew from the platform. Thanks!
Company Response:
State: OH
Zip: 454XX
Submitted Via: Web
Date Sent: 2017-11-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-11-29
Issue: Money was not available when promised
Subissue:
Consumer Complaint: I am based in the XXXX and have a coinbase account. They had no issue taking my money but since I have sold my bitcoin the service of withdrawing the money is non existant. The some of XXXX is still in my coinbase account and it will not let me click on my saved account to withdraw the money. I have tried contacting via email and twitter with zero response.
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2017-11-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-11-30
Issue: Money was not available when promised
Subissue:
Consumer Complaint: I created a new coinbase account on XX/XX/XXXX for business purposes, verified my ID, and now my personal XXXX account where several thousand dollars are held wont let me login. When trying to login to XXXX, it gives this message : Attention required! Trading functionality has been temporarily suspended on your XXXX account. In order to restore trading functionality, please contact XXXX I emailed XXXX on XX/XX/XXXX and received this reply : " In an effort to more quickly respond to requests, directly emailing XXXX is no longer enabled. To get a response from our support team, please visit the following page and complete the request form : https : //support.coinbase.com/customer/portal/emails/new '' I opened a ticket at the support website on XX/XX/XXXX and have n't received any resolution.. I emailed XXXX explaining everything above, on XX/XX/XXXX. Still no resolution.
Company Response:
State: AZ
Zip: 85249
Submitted Via: Web
Date Sent: 2017-11-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-11-29
Issue: Fraud or scam
Subissue:
Consumer Complaint: Good evening, CFPB. I am writing to you regarding my " temporarily disabled '' Coinbase account. After hours of reading online, I could n't seem to find an answer that could resolve my issue. My coinbase account registered on e-mail XXXX has been temporarily disabled with funding in it. It is a known issue that Coinbase Support do n't handle the customer support cases that are submitted to them, and some people have been waiting for months. The highest one I 've found have waited for 135 days. With my account temporarily disabled, I am unable to retrieve my money from my account, and I am unable to manage the virtual currency that I have on my account. I would like a detailed explanation of why my account is temporarily disabled, and how to get it back. Thanks. XXXX XXXX
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2017-11-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-11-29
Issue: Unauthorized transactions or other transaction problem
Subissue:
Consumer Complaint: I recently joined Coinbase.com. I added my bank acct and purchased digital coin Litecoin. I bought XXXX as I 'm not rich but would still like to play this new market. Coinbase then in turn withdrew {$300.00}, twice from my acct. I can not get in touch with their customer service to no avail. I then called my bank and asked for help. My bank will try but I believe they will receive the same answer from customer service ... Silence ... .Please Help ... Thank you
Company Response:
State: MA
Zip: 016XX
Submitted Via: Web
Date Sent: 2017-12-07
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A