Date Received: 2017-07-20
Issue: Money was not available when promised
Subissue:
Consumer Complaint: Hi, Complaint about : Coinbase.com Complainant : NY resident since XX/XX/XXXX, here on a 5 years XXXX XXXX XXXX XXXX. Subject : Coinbase allowed me to buy {$500.00} worth of Litecoin ( LTC ) then almost immediately blocked my account and prevented me from accessing my funds, not allowing me to sell or transfer to another electronic wallet. Their support first said they could not do anything for me, then ignored my messages by email and by private message on their @ CoinbaseSupport account. I am asking for my funds to be liberated so that I can transfer them to another electronic wallet or be free to sell if I wish. Chain of events : -- -- -- -- -- -- -- -- -- -- - XX/XX/XXXX : I buy {$500.00} worth of Litecoin ( XXXX LTC ) by wire transfer. My account is not locked. I am informed the coins will be available on my balance in 5 to 7 days. XX/XX/XXXX : I register to their trading XXXX ( XXXX ) but am informed that my account is blocked and I need to provide proof of identity. I provided : Passport, XXXX VISA, last 4 digit of my SSN, Occupation, employer, source of the funds & multiple bills and statements from XXXX XXXX, XXXX XXXX and others, showing my address. XX/XX/XXXX : - Support replies informing me I have to try again with a state ID or driver 's license. - I reply informing them I have no such ID because I am here on a visa, and I send them a copy of my passport and visa again. XX/XX/XXXX : - Support replies informing me they have manually verified my identity, but ask me to attempt to verify my identity again on their automated system. - I attempt multiple times, but their system does n't find me in public records : " Unfortunately, we could not find an identity matching the one you provided. This is common for those that are considered minors, between the age of XXXX-XXXX, or those that may be new to the country and have not established a presence in public data. '' - The website then blocked me. - I receive an email telling me my identity is verified ( XXXX XXXX XXXX ), but when I login to the website, my account is still blocked and still ask me to verify my identity. XX/XX/XXXX to XX/XX/XXXX : - I attempt to to verify my ID with their automated system multiple times with variations of my address. It keeps not finding me then blocking me. XX/XX/XXXX : - The Litecoins are now available on my coinbase account balance. - My account is still blocked. I am forbidden to buy, sell or transfer the currency I own out of coinbase. Its value continues to depreciate. - I keep trying to verify my identity, without success. XX/XX/XXXX : - I receive an email telling me they were unable to verify my identity ( XXXX XXXX XXXX ), contradicting the email they sent 4 days earlier confirming my identity. - I reply to the support ticket informing them of the issue and asking them to unlock my account. XX/XX/XXXX : - I contact coinbase using a private message on twitter ( XXXX XXXX XXXX ). The messages are confirmed received and read, but the person who read it ignored it and never replied. I inform them of my intention to file a complaint with the CFPD if they keep ignoring me. They kept ignoring me. - I file this complaint.
Company Response:
State: NY
Zip: 10025
Submitted Via: Web
Date Sent: 2017-07-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-07-20
Issue: Money was not available when promised
Subissue:
Consumer Complaint: Bought virtual currency before a trade and cost me hundreds when support would not respond and transfer abnormally slow for their end.
Company Response:
State: CA
Zip: 93906
Submitted Via: Web
Date Sent: 2017-07-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-07-20
Issue: Problem adding money
Subissue:
Consumer Complaint: Transferred funds from my vault ( XXXXXXXXXXXX ) to my XXXX wallet but cancelled the transaction within 4 minutes. It has been 6 days and still no approval on the transaction. Asked coinbase.com customer support to fix the problem they responded with a stock response : Coinbase Support XXXX XXXX 2017 XXXX Im very sorry for any trouble with this. Im afraid transactions can not be cancelled once the bank transfer process has started as this is an external process. For future reference, for some payment methods there is a 5 minute window that exists after you place your order during which you can cancel a transfer. You can do so by clicking on the transaction from your history page here : https : //www.coinbase.com/transfers Once your transfer completes, you could immediately place a sell order to have your funds returned to your bank account. Your funds would arrive back in your account within 1-2 business days. The sell menu can be found at : https : //www.coinbase.com/trade Please note that the expected arrival date of your funds is given on the Confirmation dialog prior to placing the order. You would also have received an email confirming this information when you confirmed the order. Again, we apologize for the trouble. If you have any further questions or concerns please let us know and we would be happy to assist you. XXXX XXXX Withdrew funds to XXXX Wallet Waiting for approval XXXX XXXX {$1200.00} USD
Company Response:
State: DC
Zip: 20011
Submitted Via: Web
Date Sent: 2017-07-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-07-20
Issue: Money was not available when promised
Subissue:
Consumer Complaint: I had initiated a wire transfer on XXXX XXXX, 2017, and when the funds were promised on the same of payment, they were not credited to my account on XXXX, a Coinbase trading platform for ecurrency. The wire transfer had completed, as I received confirmation from my bank account, however, the funds are not there for trading, or even viewing. This is fraud.
Company Response:
State: FL
Zip: 33324
Submitted Via: Web
Date Sent: 2017-07-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-07-20
Issue: Other transaction problem
Subissue:
Consumer Complaint: On or about XXXX XXXX, 2017, my account to both BUY and SELL cryptocurrency was blocked ( restricted ) on Coinbase. I have no ability to sell any of my virtual currency - of which I own over {$120000.00}. I can not buy more. They are holding my money XXXX, not allowing me to access the cryptocurrency and sell when the market drops. I have sent emails every day, sometimes twice a day. At first they ignored me. Then I started sending XXXX messages to their support team and executives. They sent me a note from a customer support rep scolding me for being impatient and saying they were working on it. On XX/XX/XXXX I got a message saying my account had been unblocked. TOTAL LIE - I am still completely blocked. This is obviously illegal and a scam. I have over {$120000.00} sitting with this company that I can not access. They ignore all requests for help, have no phone support and when I did finally reach down their corporate office phone, all you get is a voicemail or an automatic hang-up. A company that goes to great lengths to make sure no one can contact them is a scam. These people hold millions of dollars in consumer funds and have thousands and thousands of angry customer complaints all over the internet. They need to be CLOSED DOWN.
Company Response:
State: TX
Zip: 78759
Submitted Via: Web
Date Sent: 2017-07-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-07-20
Issue: Other transaction problem
Subissue:
Consumer Complaint: Coinbase. I have about 600 dollars in their secure vault. I requested these funds be removed ( XX/XX/XXXX ), and followed the procedure ( which involves clicking links sent to 2 email addresses as verification ). The website came up with a 'fault, bug in the system ' response - contact support. I have done so ( XX/XX/XXXX ). No response. I have sent several emails, no response. I have posted on their community support forum, no response. I notice many many others are having the same problem and customer support is not responding. I cancelled the withdrawal, as the FAQ 's suggest in the event of this happening. But on my XXXX it say 'awaiting signature ', on my desktop is says 'waiting approval '. The problem is - my currency is declining in value every day it is stuck in limbo, and I ca n't access it. Every time I look at my vault, it says 'waiting approval '.
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2017-07-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-07-19
Issue: Money was not available when promised
Subissue:
Consumer Complaint: On XX/XX/XXXX, I sold XXXX BTC with my account with Coinbase. Per their confirmation email, I was to receive {$1100.00} USD in my bank account no later than Thursday, XX/XX/XXXX. I did not receive the deposit. On XX/XX/XXXX, I submitted an online support ticket asking where the deposit was. I have received no response. On XX/XX/XXXX, I sent an email to Coinbase support asking where the deposit was. I have received an email thanking me for submitting my request, but have not received any additional response. On XX/XX/XXXX, I sent a direct message to Coinbase Support via XXXX. I have not received a response. On XX/XX/XXXX, I sent a direct message to Coinbase Support via XXXX. I have not received a response. On XX/XX/XXXX, I sent a direct message to Coinbase Support via XXXX. I have not received a response. On XX/XX/XXXX, I sent a public " XXXX '' to Coinbase CEO XXXX XXXX. I have not received a response. On XX/XX/XXXX, I called Coinbase 's only advertised phone number, which is their Fraud Prevention line. I left a message and have not received a response. I know my bank account is able to receive deposits from Coinbase because I have received other deposits, including one since the sale on XX/XX/XXXX. On XX/XX/XXXX, I initiated the sale of all other crypto-currency Coinbase was holding for me and I received that deposit on XX/XX/XXXX. The money was supposed to be in my account on XX/XX/XXXX at the latest. It has been 8 business days since the sale and 5 business days since I was due to receive the money. Where is the money? Where is the customer service? At this point, I am considering this to be fraud. Please advise.
Company Response:
State: WV
Zip: 254XX
Submitted Via: Web
Date Sent: 2017-07-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-07-19
Issue: Managing, opening, or closing your mobile wallet account
Subissue:
Consumer Complaint: I have an account with Coinbase that I opened through my XXXX XXXX using the Coinbase app. I found out that XXXX and Coinbase are linked within the same company and started my application for opening an account on XXXX as well. When I was at the stage of verifying my I.D . on XXXX, upon completion, I instantly received an email from Coinbase stating " Your USD wallet on Coinbase has been deactivated due to eligibility restrictions. '' I had and currently still have {$730.00} USD in the deleted USD wallet in Coinbase. I was able to locate the Deleted wallet and saw there was a withdraw button that should allow me to withdraw {$730.00} from the deleted USD wallet in Coinbase back into my wired bank account with XXXX XXXX XXXX. Upon trying to withdraw my {$730.00}, I received an email stating " Hi XXXX XXXX, A withdrawal of {$730.00} ( + {$0.00} banking fee ) has been initiated. {$730.00} will arrive in your bank account by XX/XX/2017. Although a bank transfer fee may apply, Coinbase does not charge a fee for this transaction. '' Followed by receiving another email simultaneously stating " Hi XXXX XXXX, On XX/XX/2017, you ordered {$0.00} USD via your payment method for {$730.00} USD. Unfortunately this transaction has been canceled. Although we try to avoid canceling transactions, in rare circumstances certain transactions can not be processed due to requirements imposed by our banking partners or other technical errors. If your payment method was charged, you will receive a full refund as quickly as possible. Coinbase will not charge any fees for this transaction. If you have any questions, please contact our customer support team. '' As of right now, I am not able to retrieve my {$730.00} cents out of the deleted USD wallet on Coinbase.
Company Response:
State: MN
Zip: 565XX
Submitted Via: Web
Date Sent: 2017-07-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-07-19
Issue: Money was not available when promised
Subissue:
Consumer Complaint: XX/XX/XXXX : purchased virtual currency. XX/XX/XXXX : s old the purchased currency for a profit. XX/XX/XXXX : The company, Coinbase, locked my account so i could not access my money, or perform further transactions. XX/XX/XXXX -T oday : almost daily emails, XXXX , messages, service requests to either unlock my account, or return the cash to my bank. Today : account still locked. They have basically taken my money and kept it to themselves.
Company Response:
State: FL
Zip: 33433
Submitted Via: Web
Date Sent: 2017-07-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-07-19
Issue: Other service problem
Subissue:
Consumer Complaint: Coinbase support not responding I have already opened a support ticket on XXXX / XXXX /2017 Case # XXXX . I lost my phone and did n't have the backup code to restore XXXX XXXX I tried with the wizard to verify the identity but it say document is unreadable, same ID I used to verify the account a few months ago. The problem is the lack of support, they do not have a support phone line and it is not possible to write direct mail. The first time I received an automatic mail telling me to wait up to 72h, since then 12 days have passed. I tried to contact them via other channels ( XXXX and XXXX ) but I have never received a response. I 'm frustrated because I have access to the mail used to sign up for their service and the associated cell phone number, but I still can not access my funds
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2017-07-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A