Date Received: 2017-06-22
Issue: Other service problem
Subissue:
Consumer Complaint: XXXX XXXX, XXXX I was trading on XXXX ( XXXX ), a regulated US based crypto currency exchange platform. I was margin trading Ethereum/USD at the moment. Then there 's a huge price slippage happened and bring the price all the way down from $ 310+ to {$.00} in a matter of seconds, this slippage caused hundreds of margin order liquidations and sold my total ether holding as well as my wife 's on the exchange ( around 2100 total eth ) at {$.00} dollar per ether. The price then recovered right back to where it were $ 300+ quickly. I suspected that this is a huge market manipulation as well as some major technical issues on XXXX 's end. Other crypto exchanges did not experience this price crash during the time. Additionally, during the time the price was crashing, majority XXXX users were unable to login including me, in order to minimize our losses. Currently based on their XXXX feed, their VP claimed that their trading engine was working properly and no wrong doing. This is not acceptable and hundreds of ( if not thousands of ) users were affected. XXXX XXXX XXXX statement : XXXX : XXXX Offical XXXX forum affected users posts : XXXX XXXX XXXXXXXX XXXX XXXX XXXXXXXX
Company Response:
State: MD
Zip: 20874
Submitted Via: Web
Date Sent: 2017-06-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-06-21
Issue: Fraud or scam
Subissue:
Consumer Complaint: On XX/XX/XXXX I requested a withdrawal from coinbase inc to my bank account for {$450.00}. It is an app based virtual currency exchange for Bitcoin and also has a USD wallet. I have not received my money and have repetively tried to contact them on every platform I can with no success. Other people are having similar issues. I think we are all being scammed by this company. Please help
Company Response:
State: AZ
Zip: 85022
Submitted Via: Web
Date Sent: 2017-06-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-06-21
Issue: Fraud or scam
Subissue:
Consumer Complaint: Coinbase had a fraudulent " flash crash '' Due to deliberate market manipulation at XXXX on Ethereum which caused everyone to lose millions and billions of dollars. I myself lost a substantial amount of money. XXXX XXXX XXXX There are numerous people that were affected.
Company Response:
State: AZ
Zip: 85042
Submitted Via: Web
Date Sent: 2017-06-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-06-13
Issue: Other transaction problem
Subissue:
Consumer Complaint: On XX/XX/XXXX, I made a purchase of XXXX LTC ( litecoin ) for {$4000.00} USD debited out of my bank account, few minutes later I received an email from Coinbase support saying Unfortunately, your purchase has been canceled. If you were charged, you will receive a full refund to your bank account within 3-4 business days. ), 2 weeks later and I still never received a refund into my bank account and coinbase never returned my emails, they do n't even have any phone numbers listed so we cant ever call them for help. I then on XX/XX/XXXX I reversed this transaction through my bank XXXX, I rightfully got my money back a few days later, then on XX/XX/XXXX coinbase send me another email notification that they sold XXXX XXXX ( ethereum ) out of my account to recover {$4000.00} ( this is something I had previously purchased totally unrelated to this litecoin transaction and was purchased for the same exact dollar amount ( XXXX ETH for {$4000.00} ) on XX/XX/XXXX and fully paid for and settled, as you can see they had no right selling another asset to recover funds that were n't theirs, I am asking for my XXXX ETH to be put back into my account, I have all bank and coinbase transactions and proof needed, I have sent 6-7 emails to their support and no one gets back to me, Additionally on XX/XX/XXXX, I sold {$3800.00} worth of Litecoin with the intention of buying another currency, after the sale the {$3800.00} went into my US Dollar wallet in Coinbase, then I tried to make a purchase with the funds in the US Dollar wallet and I get a system notification that all buys in my account have been frozen, so now they are holding my money hostage and I have no way of getting {$3800.00} back, again they do not response to any emails..
Company Response:
State: TX
Zip: 75035
Submitted Via: Web
Date Sent: 2017-06-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-06-19
Issue: Other transaction problem
Subissue:
Consumer Complaint: Coinbase has my money and wo n't allow me to trade it or withdraw it. They have no customer support and have not responded to my emails for a week. I have {$7900.00} in XXXX on their XXXX trading platform with another {$9000.00} borrowed on margin. I am unable to touch this amount because all trading is disabled.
Company Response:
State: NY
Zip: 11967
Submitted Via: Web
Date Sent: 2017-06-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-06-14
Issue: Money was not available when promised
Subissue:
Consumer Complaint: On or about XXXX XXXX 2017 I initiated an ACH transfer into the account of Coinbase, Inc. located at the XXXX XXXX XXXX of NY, and I did so on the accord of their site : " Bank Account deposits made to XXXX are sent via the ACH bank transfer system, which typically takes 3-5 business days* to complete after initiating a purchase. You may see the funds immediately debited from your bank account when you initiate the transfer, but they will not appear in your XXXX account until the transfer has moved between the banks and cleared in our bank account. '' The amount is negligible to some, {$300.00}, however, it 's still {$300.00} that I transferred from my credit union which provided me with a credit trace number showing Coinbase received the funds. I 've attempted on numerous occasions to reach Coinbase support, both through email and through their XXXX handle as recommended through their own website. I have not been able to reach their support staff in over 3 weeks. At this point I just want my funds returned. Their community site is littered with many posts similar to my own and my trust in this company ... well, I have none. They are robbing people with no explanation.
Company Response:
State: NH
Zip: 03102
Submitted Via: Web
Date Sent: 2017-06-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-06-14
Issue: Money was not available when promised
Subissue:
Consumer Complaint: On Wednesday, XXXX XXXX , I initiated a wire transfer withdrawal from an online stockbroker in the amount of {$9700.00} for deposit into XXXX ( the online crypto-currency exchange owned by Coinbase ). Both XXXX and Coinbase 's websites clearly state that wire deposits will be credited same-day if completed before XXXX PST. They also charge a significant fee for this expedited funding method. It is now Wednesday, XXXX XXXX , and the funds have not been credited to my account. In addition, none of my inquiries have been responded to. I was charged wire transfer fees by both my online stockbroker and XXXX /Coinbase, missed out on valuable trading profits, and still do n't have my {$9700.00}.
Company Response:
State: PA
Zip: 19460
Submitted Via: Web
Date Sent: 2017-06-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-06-12
Issue: Money was not available when promised
Subissue:
Consumer Complaint: Wired {$15000.00} to Coinbase on XXXX / XXXX / 2017 for use on their XXXX digital currency exchange. Wire transfer was processed next day from my bank checking account, details show in my account. I had previously transferred {$5000.00} to Coinbase from the same account with no issues. Funds were transferred to : Recipient Na me Coinbase, Inc Recipient Address XXXX XXXX XXXX , # XXXX , XXXX XXXX , CA XXXX Bank Name XXXX XXXX XXXX Bank Address XXXX XXXX XXXX XXXX XXXX XXXX XXXX , NY XXXX Routing/ABA Number XXXX Account Number XXXX ( additional identifier for my consumer account was added in the 'instructions ' field ) Coinbase states 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. '' As of XXXX , funds from this wire transfer are not available in my account. I have attempted to contact Coinbase customer support through their online support system, by email and XXXX direct message since XXXX . No other channels for contact are available. Company has not responded or provided any information on the missing funds . Case ID in company 's helpdesk system is XXXX .
Company Response:
State: CA
Zip: 94606
Submitted Via: Web
Date Sent: 2017-06-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-06-09
Issue: Other service problem
Subissue:
Consumer Complaint: I have XXXX accounts with Coinbase. XXXX is a bitcoin account, and the other is an Ethereum account. I have a verified driver license on my account, and they are asking me to submit another ID to perform any buy or sell requests. Their website continually does not accept my Global Entry ID, so my accounts are frozen. I have a total of {$180000.00} in XXXX accounts. I have submitted several requests to have them verify another ID, or have me submit another form of ID such as a phone bill, and they are not getting back to me.
Company Response:
State: AZ
Zip: 85022
Submitted Via: Web
Date Sent: 2017-06-09
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-06-17
Issue: Other service problem
Subissue:
Consumer Complaint: I tried to log into my Coinbase accou nt to check the balance while I was on vacation in XXXX . They locked my account and have n't restored access and it 's now bee n 2 weeks. I have contacted the company repeatedly and received no response.
Company Response:
State: IL
Zip: 60622
Submitted Via: Web
Date Sent: 2017-06-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A