Coinbase, Inc.
Consumer Complaints
There are over 2974 complaints on file for Coinbase, Inc.. Dated between 2019-11-25 and 2014-09-10.
Complaints Page 116
2017-06-27
Chicago, IL
Money was not available when promised
Money transfer, virtual currency, or money service: Virtual currency
Company Response: Closed with explanation
2017-06-27
FL
Fraud or scam
Money transfer, virtual currency, or money service: Virtual currency
Complaint: Four weeks ago I made a 4 day trip to XXXX and used the wifi at a hotel to check BTC ticker in the Coinbase app. I returned home ( US ) on XXXX XXXX, and when I tried to login to Coinbase I got this message : -- -- -- -- -- - We have reason to believe you reside in a country in which Coinbase is prohibited by law from doing business ( XXXX ) per the sanctions imposed by the U.S. Treasury Department 's Office of Foreign Assets Control. As a result, weve unfortunately had to close your Coinbase account. If you are not a resident of a sanctioned country or otherwise have received this notification in error, please contact us at XXXX immediately and provide us with a copy of a photo ID and proof of your current address. If your account has a balance you will need to contact the U.S. Treasury Department to request permission to access your funds. -- -- -- -- -- -- I have a balance over XXXX in their account, and need access to my funds. I have contacted them multiple times since then, over multiple channels ( XXXX, social media, email, XXXX ), and sent the required information to prove my address with a valid id, etc, and I have gotten no response from them. I found this thread, which was someone with the very same issue, and they got it resolved within two weeks of contacting support : XXXX XXXX XXXX It 's been 24 days of my account being blocked, and I have heard nothing from Coinbase. There 's no phone number, no chat, nobody to talk to. I have already reached out to the CEO @ XXXX, and various members of their team, to no avail or response. It 's like they evaporated from the face of the earth. I can not understand a bank holding substantial funds for its customers that do not answer support request, which forces me to believe they are a fraud now.
Company Response: Closed with explanation
2017-06-27
Key Biscayne, FL
Other transaction problem
Money transfer, virtual currency, or money service: Domestic (US) money transfer
Company Response: Closed with explanation
2017-06-27
IL
Money was not available when promised
Money transfer, virtual currency, or money service: Virtual currency
Complaint: I bought XXXX BTC from Coinbase, Inc on XXXX XXXX 2017 using a debit card. As per their site, debit card transactions should process " instantly '' and the Bitcoins should have been in my virtual wallet on Coinbase. It is now over a month with no contact from Coinbase, little to no support or even the ability to speak to a person. I have sent multiple emails and the responses are computer-generated messages with no information of the status of my transaction. The money left my bank account immediately so I do not know why I have not been able to receive my Bitcoins. I just want this transaction to go through and then I am closing my account. Coinbase is a scam, where they take your money and offer no way to contact them or get your money back. They make too much money of every single transaction that this kind of issues are unacceptable.
Company Response: Closed with explanation
2017-06-27
Other transaction problem
Money transfer, virtual currency, or money service: International money transfer
Company Response: Closed with explanation
2017-06-27
TX
Unauthorized transactions or other transaction problem
Money transfer, virtual currency, or money service: Mobile or digital wallet
Complaint: Sold bitcoin, XXXX XXXX, {$1300.00} USD, XXXX XXXX XXXX XXXX XXXX XXXX XXXX XX/XX/XXXX Complete and withdrew funds {$100.00} USD, XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XX/XX/XXXX Complete is what shows on the Coinbase website in my account information then I received the following emails : Unfortunately we could not process your sell of XXXX XXXX onXX/XX/XXXX because the name associated with your bank account did not match your Coinbase account. and Unfortunately we could not process your withdrawal of {$0.00} USD on XX/XX/XXXX because the name associated with your bank account did not match your Coinbase account. i have been using the same bank account on Coinbase since XX/XX/XXXXsuccessfully. now my account shows {$0.00} Total balance. No money has been transferred to my bank account and no bitcoins or money remains in my Coinbase account. I have information showing the transactions have been completed and emails saying they were n't completed. i have no idea where my money or bitcoins are and I can not receive an answer from Coinbase even after submitting numerous support requests. As a XXXX year old retiree living on social security this money is very important to me. Please help me.
Company Response: Closed with explanation
2017-06-27
Woodland, WA
Money was not available when promised
Money transfer, virtual currency, or money service: Virtual currency
Complaint: I purchased XXXX ethereum ( a type of cryptocurrency ) from Coinbase on XXXX/XXXX/XXXX which was added to my account. On XXXX/XXXX/XXXX I purchased another XXXX ethereum, which was never added to my account. I tried to contact them on multiple platforms -- their website, email and twitter message ( which they actually recommend ). I have not heard from them at all and they 've since deleted my case on their support website.
Company Response: Closed with explanation
2017-06-27
Lewisville, TX
Managing, opening, or closing your mobile wallet account
Money transfer, virtual currency, or money service: Mobile or digital wallet
Complaint: I need assistance with XXXX XXXX. I lost my phone and need it on my new phone to access my account or to send more than XXXX bitcoin. I can not even change security settings to help myself because of this. Their admin could help me in 60 seconds. I have been waiting a week. Their online XXXX @ coinbasesupport serves as a support contact and they literally skip over me and help new requests. I have a significant portion of my life savings on this platform. I 'm floored as to the lack of support. My initial support ticket was submitted 1 week ago and I have not heard a peep from support. I have access to see from one device but I can not change settings due to losing my phone. This access expires every 30 days which I anticipate will be shortly. I need access to my funds! I 'm verified! <P/>Also note the platform coinbase had a crash with the very coin I have a lot of investment in and it lost 99 % of the value periodically. I could not do a thing due to the lack of access from every device around me that night. I need a human to answer my ticket and fix my XXXX authentication so I can access my money immediately. I can provide any documentation necessary. Case # XXXX XXXX
Company Response: Closed with explanation
2017-06-27
Oak Grove, MO
Confusing or missing disclosures
Money transfer, virtual currency, or money service: Virtual currency
Complaint: I withdrew $XXXX from my XXXX account and sent it to Coinbase via the USDT transfer method. Coinbase received the $XXXX and it showed complete in the XXXX system. I contacted Coinbase with a support ticket and was pretty much told I was out of luck. XXXX says CB has my money, CB says they can't accept USDT but they didn't reject the transaction...they accepted and now say they can't return it. Regardless of they XXXX explanation I have found comments from people online (coinbase employee) that say with the right key they can return my money. This has been happening to people for over a year and neither company has done anything to fix this from happening in the future. This seems like a scam and their material didn't explain this would happen very well at all they both just let the transaction happen only later to tell me it's gone... This isn't acceptable to simply have your money stolen like this...CB has my currency regardless what they say..
Here is their response: XXXX XXXX XXXX | XXXX PDT
XXXX replied:
Hi XXXX,
USD and USDT are not the same thing. USD is the currency controlled by the United States Treasury. USDT is an alt-coin built on the Bitcoin blockchain. Unfortunately, our key-signing mechanism is not equipped to handle alt-coins that run on top of digital currencies such as bitcoin or ethereum. The security and integrity of our private keys is of the utmost importance to us. As a result, the specific private keys associated with an address are not physically available to any single person. It would take a massive effort and some very large engineering resources just to access a specific key, not to mention the inherent security risks involved. Heres an analogy that might be helpful:
Imagine someone wrote you an IOU for $XXXX on a $XXXX bill. You then put that $XXXX bill in a change machine by accident. Since the change machine doesnt have any way to read the IOU printed on the bill, it gave you four quarters, the face value of the $XXXX bill.
USDT is like an IOU written on a very tiny fraction of a bitcoin, the USD value of which is usually only a few cents, if its even that much. So what you sent to your USD wallet wasnt USD. It was the very tiny fraction of a bitcoin with an IOU for whatever amount of USDT you had in your USDT wallet. When bitcoin is sent to a Coinbase USD wallet, we attempt to convert it instantly into USD so we can deposit it in the receiving accounts USD wallet. If the tiny amount of BTC is less than $XXXX, were not able to convert it, but if we are, we deposit the corresponding amount of BTC in the receiving accounts BTC wallet. Unfortunately, unlike a coin machine where you could hypothetically find someone with a key for it who could open it up and retrieve the $XXXX bill with the $XXXX IOU written on it, our systems security is designed so that no one is able to do that. No one is able to get into the back end of the system, because if we left an opening, all our funds would be less secure.This is one of those things I really wish XXXX would make clearer to their customers, that USDT is not the same as USD. Unfortunately, there isnt anything we can do to retrieve those funds. Theyre locked up tight. Im so sorry for the inconvenience this has caused. I wish I had better news for you!
XXXX
Customer Support
** When the BTC transaction error appeared on my account (system was confused and tried to deposit
Company Response: Closed with explanation
2017-06-27
Lewisville, TX
Fraud or scam
Money transfer, virtual currency, or money service: Virtual currency
Complaint: on X/XX/2017 Coinbase wrongfully transferred money out of my bank account and is now refusing to pay it back. When confronted by my bank account transaction proof, they simply refuse to show any proof and are simply ignoring my requests They now have locked my account for 60 days, so I cant even take out my US Dollars valued around {$3900.00} from my account
Company Response: Closed with explanation
2017-06-26
Virginia Bch, VA
Other transaction problem
Money transfer, virtual currency, or money service: Domestic (US) money transfer
Company Response: Closed with explanation
2017-06-26
MD
Confusing or missing disclosures
Money transfer, virtual currency, or money service: Virtual currency
Complaint: I went on vacation to XXXX from XX/XX/XXXX to XX/XX/XXXX and when I got back CoinBase froze my account that had XXXX Ethereum coins worth roughly $ 55k at the time. When I found out they froze my account, because of my vacation I received a notice to submit my proof of residency and proof of citizenship. I tired emailing on XX/XX/XXXX with no response. There is no phone number to call. I tired submitting a ticket and provided all of the required information. It has been over three weeks now and I have not received a response from the company. Over the last three weeks my account value has dropped significantly from $ XXXX. CoinBase has already cost me many thousands of dollars, please help me regain access to my account. I was planning on using the funds to replace the roof on my house.
Company Response: Closed with explanation
2017-06-26
AK
Other transaction problem
Money transfer, virtual currency, or money service: Virtual currency
Complaint: My complaint is with coinbase. I have used them for years to buy and sell cryptocurrency. My daughter and I went to XXXX in XXXX and spent 7 days there. Upon my return and trying to sign into my account I gpt the following error message. <P/>Notice of account closure and pending disablement. Dear XXXX XXXX, We have reason to believe you reside in a country in which coinbase is prohibited by law from doing business ( XXXX ) per the sanctions imposed by the U.S. treasury departments office of foreign assets control. As a result, we 've unfortunately had to close your coinbase account. If you are not a resident of a sanctioned country or otherwise have received this notification in error, please contact us as XXXX immediately and provide us with a copy of a photo ID and proof of your current address. If you account had a balance you will need to contact the U.S. treasury dept to request permission to access your funds. Respectfully, The coinbase team. <P/>I have sent I 'd verification and address proof on XXXX, XXXX, XXXX and XXXX and the only response I have ever gotten was a canned response about them being busy and if my issue is n't resolved please resubmit. I have already applied to the treasury to get my funds unlocked but have never had any response from coinbase as to if they have received my documents .... other than the same message which I will attach. They have no phone number to contact and no address to use, all of which I needed to file for the permit through the treasury. Since my account t is closed I do n't know the answers to many of the questions on the treasury application such as When was it closed? How much money? Address and phone number of the financial institution. <P/>I sent the form in anyway explaining that I could n't get into my account to know when it was closed or how much money was In it as coinbase will not respond. I searched for an address or phone number online and have come up with nothing. I have asked them repeatedly to help me with these answers since I do n't know them because I ca n't access my coinbase account. I 'm very frustrated that I would take almost 2 months without even a personal response or confirmation that they received my information. I feel this company is extremely unprofessional and are ruining people 's lives by holding their money hostage, approximately 12-14k in my case with no regard for expediency or even communication. Please help me with this issue. It 's like I 'm chasing my tail trying to simply get a response. As far as I know they are out of business based on their lack of communication and my money/and or coins are gone.
Company Response: Closed with explanation
2017-06-26
Lewisville, TX
Other service problem
Money transfer, virtual currency, or money service: Virtual currency
Complaint: I use coinbase as my cryptocurrency exchange and wallet. I enabled 2 factor authentication on my account as they prompted when signing in. I ended up losing my phone and got a replacement. 2 factor authentication is associated with the lost phone. I can not transfer it to my new phone without first verifying on the phone that is lost. I do not have the seeding information to restore. This leads to bigger issues. I have a limit on the amount of transactions unless verified with 2 factor authentication. I can not log in once the code expires due to the inability to verify a new code because I no longer have the original phone. I contacted support on XXXX XXXX 2017 and I have not received a reply. I contacted support via XXXX @ coinbase support and have not received a response. They do not offer phone support and all support online is automated. There is no number you can call. They literally have been ignoring other member for months without them hearing from support. At this point I feel as though they have a significant portion of my life savings locked into their platform. I literally can not get the courtesy and assurance of a response from coinbase support. I also can not access the helpdesk ticket or request page due to XXXX. Please HELP!
Company Response: Closed with explanation
2017-06-26
Fraud or scam
Money transfer, virtual currency, or money service: Mobile or digital wallet
Complaint: I was trading with www.coinbase.com i have now stopped and would like to withdraw my funds but my bank account is still not verified even though i have completed the steps they have provided and i am unable to withdraw my funds still. This amounts to near 600 which for me is a lot of money. I have been trying to contact them through every means possible. Email Social media but they do not have any contact telephone numbers.
Company Response: Closed with explanation
2017-06-26
MA
Money was not available when promised
Money transfer, virtual currency, or money service: Virtual currency
Complaint: I submitted a withdrawal request in the amount of {$7900.00} from Coinbase on XXXX XXXX, 2017. Funds were promised to be delivered to my bank account by XXXX XXXX. I have submitted a support request with Coinbase, but it has been 4 days, and I have not received a response.
Company Response: Closed with explanation
2017-06-26
Nyc, NY
Money was not available when promised
Money transfer, virtual currency, or money service: Domestic (US) money transfer
Complaint: I made a wire transfer from one of my accounts to XXXX ( a crypto currency platform run by CoinBase ) at around XXXX EST on XX/XX/XXXX. According to their website, it should have gone in on the same business day if the request was made before XXXX PT. I made it on time but it 's been 3 weeks now and no money is in my account. I received confirmation from the account I sent the USD from that the wire was successful so this is strange to me. I contacted CoinBase through their support channel and made a case after a few days of still not seeing my money and have followed up every few days since then ( over 6 times ) with no response. I have contacted them on XXXX, via XXXX on their support page and through other forums and STILL have not gotten a response. To me this feels like they have stolen my money or it has been lost somewhere and I have n't got any validation. Please help if possible.
Company Response: Closed with explanation
2017-06-26
Patterson, MD
Money was not available when promised
Money transfer, virtual currency, or money service: Virtual currency
Complaint: I have not received a legitimate response to this issue and it has been several business days. I only receive automated responses from bitcoin despite promises of responses with 72 hours. On XX/XX/XXXX I sold XXXX BTC for {$3200.00} USD. The funds still have not been deposited in my linked checking account. OnXX/XX/XXXX I was notified that a payment will be sent to my XXXX XXXX by Thursday XX/XX/XXXX but the payment still has not been received as of today, XX/XX/XXXX. I would like to know the status of my sale of bitcoin and the payment that I am expecting? Should I still expect to receive {$3200.00} to be deposity in my account? See below for the transactions on my account : Sold bitcoinXXXX BTC {$3200.00} USDTO XXXX XXXX ********** XXXX XX/XX/XXXX COMPLETE
Company Response: Closed with explanation
2017-06-25
CT
Other transaction problem
Money transfer, virtual currency, or money service: Virtual currency
Complaint: Coinbase Inc. XXXX Every time the XXXX market price dips the Coinbase systems shuts down buying and selling of the currency. It makes it impossible for investors remain in control of their investment and ties our hands. It happens EVERY TIME the price changes and is not available for HOURS. Investors are at the mercy of the market and can only watch the price spike or plummet and have no control of our investment.
Company Response: Closed with explanation
2017-06-25
Philadelphia, PA
Money was not available when promised
Money transfer, virtual currency, or money service: Virtual currency
Complaint: At XXXX on XXXX XXXX, XXXX, I initiated an ACH withdrawal of funds ( {$680.00} ) from my XXXXCoinbase account to XXXX XXXX . Previous similar transfers had always arrived within 4 business days, as stated in the XXXX/Coinbase terms. In fact, most had arrived sooner, within 1-2 days. This transfer, however, never arrived at my bank account. It has now been 12 days. The status of the transfer is indicated on the Coinbase website and the XXXX website as " Complete, '' and has been indicated as " Complete '' since at least XXXX XXXX, but the funds have not arrived at my bank.
Company Response: Closed with explanation
2017-06-25
Oakton, VA
Wrong amount charged or received
Money transfer, virtual currency, or money service: Virtual currency
Company Response: Closed with explanation
2017-06-24
Henderson, NV
Fraud or scam
Money transfer, virtual currency, or money service: Virtual currency
Company Response: Closed with explanation
2017-06-24
Lb, CA
Other transaction problem
Money transfer, virtual currency, or money service: Virtual currency
Complaint: I use d Coinbase to buy XXXX XXXX for a total of {$430.00} on XXXX XXXX , 2017 . I used their mobile application to monitor the health of the coin to see when the right time to sell was. On XXXX XXXX I sold my XXXX XXXX for {$680.00}. I have yet to receive the money into my account and have tried to reach out to the company via their support email to see when it will be delivered. They keep saying on their site how their running into issues and responses times are significantly delayed . Twelve days later or two business weeks later I still have yet to receive my money or an email from them.
Company Response: Closed with explanation
2017-06-24
Blacksburg, VA
Money was not available when promised
Money transfer, virtual currency, or money service: Virtual currency
Company Response: Closed with explanation
2017-06-23
LA
Fraud or scam
Money transfer, virtual currency, or money service: Virtual currency
Complaint: ( On the Coinbase exchange ) I withdraw {$7100.00} on XXXX / XXXX / 17 and got email saying I would receive funds to my bank account on XXXX / XXXX / 17 I never received anything I have email coinbase support dozen times with no response ... please help
Company Response: Closed with explanation