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 13
2018-06-07
Other transaction problem
Money transfer, virtual currency, or money service: Virtual currency
Company Response: Closed with explanation
2018-06-06
Kansas, IL
Other transaction problem
Money transfer, virtual currency, or money service: Virtual currency
Complaint: I had a different account at coinbase that had money in it. My phone got torn up so I was unable to retrieve my account without a two-factor authentication code which could only be used on my phone which i did not have. i had a different phone that was not linked to this account. So i called the company and they said there was nothing they could do at this point, they would have to have their specialists look at it. which they did not! I even gave them the new phone number so the money could be transferred to a new account with my new e-mail. Ive have called numerous times since this happened and they give me the the run around. that they need a specialist to look at it and there is nothing they can do at this time. How long does it take to transfer money into a different account. Ive went to the hospital to deal with my XXXX and XXXX this has caused me. I just want my money back, even though its ony {$110.00}. They have caused me to lose money when cyptocurrencies started to go down.
Company Response: Closed with explanation
2018-06-06
Tamuning, GU
Other service problem
Money transfer, virtual currency, or money service: Virtual currency
Complaint: I have lost access to my email that is associated with my coinbase account.
I made a new email and submitted my ID and Photo so I used the new email to recover my account and the ID was accepted.
It has been a month since I submitted my ID for verification but still no resolution to the issue.
Note : According to Coinbase website, it takes 48-72 hours to verify the ID and photo
Company Response: Closed with explanation
2018-06-06
KY
Other transaction problem
Money transfer, virtual currency, or money service: Virtual currency
Complaint: on XX/XX/XXXX I was rejected for an institutional account with Coinbase, which placed a lock on my personal account. I have not been able to withdrawal money from my account since then and have contacted support 6 times now with no resolution in sight.
Company Response: Closed with explanation
2018-06-06
MT
Wrong amount charged or received
Money transfer, virtual currency, or money service: Virtual currency
Complaint: On the date of XXXX XXXX - XX/XX/2017 UTC I made a sell order of XXXX Ethereum, trade ID XXXX. The " price locked in at that moment '' was ( USD ) {$2600.00}. But the transaction went through at the price of ( USD ) {$740.00}.
This in direct correlation to the false entry in books, reports, statements and fraudulent pretenses, includes the intentional technical inaccuracies and price chart errors from the approximate dates of XX/XX/XXXX-XX/XX/XXXX and to this current day, where Coinbase/GDAX maintains a false record to the price of Bitcoin, Ethereum , Bitcoincash and Lightcoin cryptocurrencies according to the price chart. Coinbase/GDAX has drafted a fraudulent user/legal agreement in compliance with Local, State and Federal laws, rules and regulations.
After having through much diligence, found that first and foremost, 12 CFR 1005.9 - Receipts at electronic terminals ; periodic statements is being violated. Specifically under section, ( 1 ) Amount. The amount of the transfer. A transaction fee may be included in this amount, provided the amount of the fee is disclosed on the receipt and displayed on or at the terminal. And ( 6 ) Third party transfer. The name of any third party to or from whom funds are transferred. And ( 5 ) Address and telephone number for inquiries. The address and telephone number to be used for inquiries or notice of errors, preceded by Direct inquiries to or similar language. The address and telephone number provided on an error resolution notice under 1005.8 ( b ) given on or with the statement satisfies this requirement.
Including, 18 U.S. Code 1001, 18 U.S. Code 1005, 18 U.S. Code 1007, 18 U.S. Code 1343, 18 U.S. Code 1344, 18 U.S. Code 641. Also including applicability in, 12 CFR 1001.1 Under ( 12 U.S. Code 5481 ( 15 ) ( A ) ( ix ) and ( 15 ) ( A ) ( xi ) and ( 26 ) ( a ) ( i-ii ) and ( 28 ) ( a ) and ( 29 ), 12 CFR 1005.1 ( a-b ) 12 CFR 1005.16, 15 U.S. Code 1693f and 1693m and 1693n, 15 U.S Code 78e I have contacted Coinbase/GDAX with communication for a period of over two months, with another legal issue of the " Coinbase Support Team '' acting as legal intermediary. And failing to direct me to the correct accepted legal agent of service, after I stated I would seek legal action.
Company Response: Closed with explanation
2018-06-05
Nyc, NY
Managing, opening, or closing your mobile wallet account
Money transfer, virtual currency, or money service: Mobile or digital wallet
Complaint: I alerted Coinbase that a portion of my money was missing ( ~ {$4000.00} - I believe but hard to tell without access to balances ). They froze my account for months with no resolution. After 3 months they said they accidentally wired me too much money once and thats why the account was frozen. I asked for supporting balances and transactions to substantiate their claim. No response. Then one day a month later my account was unfrozen but money still missing. I withdrew remaining funds and decided to just accept that some of it was missing. A few weeks later I bought new coins and my account was restricted immediately after the purchase. Essentially I could buy but not sell or withdraw. I cant get my money out. Ive called support many times and emailed them and have been told thats telephone support cant help me but they will escalate. Its been escalated for 6 months now.
Company Response: Closed with explanation
2018-06-05
Bellaire, TX
Money was not available when promised
Money transfer, virtual currency, or money service: Virtual currency
Complaint: I have {$1000.00} that was wired to my wallet on Coinbase. It is in cash, not virtual currency. Coinbase disabled my account. I called Coinbase and they tell me that they can not tell me why it was disabled, when I will have access to my funds, or whether I will regain access to my funds. They just tell me that I will need to wait. I ask them how long or why my account was disabled and they have no information. They claim only support staff knows that information and you are not allowed to speak to them.
Essentially Coinbase took {$1000.00} of my cash and disabled my account so that I can not get access to it and wont tell me why it was disabled or how to get it back. This is criminal theft as far as I can tell. These guys should be prosecuted.
Company Response: Closed with explanation
2018-06-04
Money was not available when promised
Money transfer, virtual currency, or money service: Virtual currency
Company Response: Closed with explanation
2018-06-03
Other transaction problem
Money transfer, virtual currency, or money service: Virtual currency
Complaint: Dear sir Prompted by the surge in cryptocurrencies in end of XXXX, I registered on the website www.coinbase.com ( XXXX XXXX XXXX # XXXX, XXXX XXXX, CA XXXX ) on XXXX XXXX with my email address XXXX and paid them in a few transactions- 1 ) EUR XXXX ( GBP XXXX ) on XXXX XXXX by bank transfer. This transfer was rejected by the Coinbase system and was returned to my bank account. ( GBP XXXX ). There was no reason given for this rejection, and I have lost XXXX ( GBP XXXX XXXX XXXX and XXXX pence only ) in the process of currency conversion.
2 ) XXXX ( GBP XXXX XXXX XXXX and XXXX XXXX pence only ) on XXXX XXXX ( using debit card ) to buy XXXX -This transaction was made on request of Coinbase customer care executive ( XXXX XXXX. XXXX XXXX ) to verify account, and I was told this will be refunded immediately. However, this amount has since been lost somewhere.
3 ) XXXX ( GBP XXXX XXXX and XXXX only ) on XXXX XXXX ( using debit card ) to buy XXXX XXXX This transaction was made by the customer care official, when he took my debit card details on the pretext of refunding the first transaction. ( I didnot authorise this transaction, this money was stolen from my account ) This amount has also since been lost somewhere.
4 ) XXXX10 on XXXX XXXX ( by bank transfer my from bank account ) This was a test transaction I made to ensure my account was still valid.
So far, I have lost XXXX ( GBP XXXXXXXX XXXX XXXX only ) in fraudulent transactions and bank charges.
In the process, I have so far purchased XXXX. However, I have no option to sell it back/convert to GBP.
I wrote to Coinbase on XXXX XXXX, and I got an email from them on XXXX XXXX saying Unfortunately, due to the technical nature of most digital currency networks, it is impossible for us to reverse this payment and we are unable to provide any mediation with this matter.
Company Response: Closed with explanation
2018-06-03
Santa Ysabel, CA
Managing, opening, or closing your mobile wallet account
Money transfer, virtual currency, or money service: Mobile or digital wallet
Complaint: XXXX XXXX XXXX many emails and as you see they stopped responding.
I CANT WITHDRAW.I HAVE TRIED ON 4 OCCASIONS AND THEY SEND ME THE SAME MSG. COINBASE FORCES ME TO UPLOAD AN ID, ( WHICH I CANT DO BECAUSE MY ACCOUNT IS CLOSED KEEP THAT IMPORTANT FACT IN MIND. ) SO HOW AM I SUPPOSED TO GET MY FUNDS. IM TRAPPED IN THAT LOOP????????????????????????????????????? THEY SAY I CAN WITHDRAW BUT I CANT WITHOUT AN ID ON FILE. SOOOOOOO????. IVE BEEN TRYING TO EXPLAIN THIS FOR 3 WEEKS BUT THEY WONT LISTEN. I DONT NEED DETAILS ABOUT THE CLOSURE I DONT CARE. WHAT I WANT IS TO KNOW IS HOW IM SUPPOSED TO WITHDRAW MY COIN IF IM TRAPPED IN A LOOP TELLING ME I HAVE TO UPLOAD AN ID ( WHICH I CANT DO BEING LOCKED OUT ) I DONT WANT TO AN EXPLANATION.I JUST WANT MY COIN. THIS SEEMS LIKE A VERY VERY FLAWED PRACTICE THAT NEEDS TO BE FIXED.
Company Response: Closed with explanation
2018-06-02
Gluckstadt, MS
Other service problem
Money transfer, virtual currency, or money service: Virtual currency
Company Response: Closed with explanation
2018-06-01
Dallas, TX
Other transaction problem
Money transfer, virtual currency, or money service: Virtual currency
Complaint: Coinbase took XXXX Ether from me claiming that I had a balance owed for another transaction. When I looked into my transactions both from my bank as well as on their website, I did not see any additional transactions that weren't accounted for. I only saw my Ether they had taken. My cryptocurrency matched what I paid for it.
I corresponded with them on 3 occasions asking for them to provide me proof that I owed the funds, offering to pay the balance if they could prove I owed it and they never provided it. In fact they never even offered a meaningful explanation as to why they took the funds. They subsequently closed my account limiting my ability to view the account. Since they closed my account, I can't show screenshots of the transaction history.
I looked into this on Crypto forums and it appears that they are commonly duplicating charges and not refunding the transactions. This occurred in the XX/XX/XXXX timeframe and they closed my account in XX/XX/XXXX.
Linked is a XXXX article from XX/XX/XXXX where it appears this happened to many people.
XXXX XXXX XXXXXXXX
Company Response: Closed with explanation
2018-05-31
Buck, PA
Managing, opening, or closing your mobile wallet account
Money transfer, virtual currency, or money service: Mobile or digital wallet
Complaint: I made a couple of purchases of bitcoin through Coinbase 's buy/sell feature and deposited to my Coinbase bitcoin wallet. My coinbase bitcoin wallet available balance reflects the amount of the deposits, however, I am unable to do anything with them. Initially Coinbase support told me that they just had to make sure the transactions cleared my bank. According to my bank the transactions have cleared. However, I am still unable to access my Coinbase bitcoin wallet for sending my bitcoin. Furthermore, now Bitcoin support is telling me it will 57 days before I will be able to do anything with the bitcoin in my wallet. They won't give me a reason other then they need to wait until the transactions have cleared my bank. When I phone them and tell them ( again ) that the transactions have cleared my bank they say there's nothing they can do - unacceptable. When I email them and tell them the transactions have cleared my bank with pictures showing proof of the cleared transactions, I get no reply from them. I've tried to close my account and have all funds transferred to a different wallet provider, however, Coinbase will not let me to this either. I basically consider them as having stole my money for 57 days or longer if they so choose. I wish I had researched them better before I decided to do " business '' with them.
Company Response: Closed with explanation
2018-05-31
Everett, WA
Money was not available when promised
Money transfer, virtual currency, or money service: Virtual currency
Company Response: Closed with explanation
2018-05-30
Columbia, SC
Fraud or scam
Money transfer, virtual currency, or money service: Virtual currency
Complaint: Coinbase has neglected to send back unclaimed funds to my closed wallet account. The amount sent of BTC was {$1600.00} to the following wallet address in two transaction on XX/XX/2018 : XXXX.
Also, Coinbase has neglected to allow me to withdraw .XXXX BTC due to unauthorized activity on my account causing a chargeback. I attempted to settle the payment anyways to withdraw my funds, but the " payment required '' link does not work and only gives error messages. I have attempted to contact them via email and phone for several weeks and continually get answers not related to my direct question or a response that they will escalate it to a " specialist ''.
This issue has lasted for 3 months, and they just recently restricted me withdrawing or sending my virtual currency. They currently owe me approximately {$6100.00} between the two issues. I currently have over {$4500.00} in the account.
Company Response: Closed with explanation
2018-05-30
Key Biscayne, FL
Money was not available when promised
Money transfer, virtual currency, or money service: Domestic (US) money transfer
Complaint: Hello I wired {$60000.00} ( XXXX XXXX ) to XXXX/Coinbase onXX/XX/XXXX, I verified every information on XXXX page, routing #, acc # and wire message twice before sending the money.
wire info : REF : XXXX XXXX XXXX XXXX TRN : XXXXXX/XX/XXXX After a few days without my Coinbase acc being credited I wrote support and they gave a ticket # XXXX, on XXXX I received this email " '' Hi XXXX, Thanks for sending in the requested information.
The wire may be returned because it was missing your banks details in the originating institution field.
I am working with a payment specialist to address the wire properly. We will follow-up with you as soon as we have an update " As of today XXXX I haven't received any update on my case, customer support doesn't respond my emails, phone support does not have access to bank transactions, basically there is no real person to talk to about this type of issues, just an unresponsive email address.
bottom line, as ofXX/XX/XXXXI don't know where my money is.
Thank you
Company Response: Closed with explanation
2018-05-29
Coralville, IA
Managing, opening, or closing your mobile wallet account
Money transfer, virtual currency, or money service: Mobile or digital wallet
Company Response: Closed with explanation
2018-05-29
Co Spgs, CO
Money was not available when promised
Money transfer, virtual currency, or money service: Virtual currency
Company Response: Closed with explanation
2018-05-29
Guadalupe, AZ
Other transaction problem
Money transfer, virtual currency, or money service: Virtual currency
Company Response: Closed with explanation
2018-05-28
Unexpected or other fees
Money transfer, virtual currency, or money service: Virtual currency
Complaint: I used to buy on a monthly basis cryptocurrencies on Coinbase. Everything went fine for months but suddenly the started in XX/XX/XXXX to account some extra fee to my XXXX card bill which they described afterwards in our mail communication as " cash advance fee ''.
So I started writing back and forth to Coinbase and my bank. But one day as they usally like to do so on other topics too the communication with Coinbase stopped.
My last knowledge about this situation is, that my bank and XXXX says that Coinbase is responsible for accounting that " cash advance fee '' while Coinbase says it is not.
So my last question to Coinbase was : " So when you know that this fee is accounted, why don't you comminicate it to your customers? I got a bill of my purchase. There's already a credit card fee included. But the cash advance fee isn't listed anywhere. '' Coinbase never answered this and because I'm still in contact with my bank and XXXX I'm inclined to the view that they are right and Coinbase is trying to not face the truth.
Company Response: Closed with explanation
2018-05-28
Chicago, IL
Confusing or missing disclosures
Money transfer, virtual currency, or money service: Virtual currency
Company Response: Closed with explanation
2018-05-25
Arco, CA
Fraud or scam
Money transfer, virtual currency, or money service: Virtual currency
Complaint: On XX/XX/2018, I deposited {$200.00} into coinbase by purchasing ETH from them these funds were not made available to me. When I tried to send them to another wallet they didn't transfer. I was told that within 30 days if the transaction is not delivered it would return to my account. Later, when I contacted Coinbase customer support again after 30 days, they said the digital Cryptocurrency couldn't be refunded due to its technology.
The {$200.00} I deposited into Coinbase is gone and the money wasn't delivered to any address. It just disappeared.
For reference case # XXXX.
Company Response: Closed with explanation
2018-05-25
Oxford, GA
Money was not available when promised
Money transfer, virtual currency, or money service: Virtual currency
Complaint: On XX/XX/XXXX I purchased {$300.00} in Bitcoins on CoinBase. I was initially told the funds cleared from my Bank account on XX/XX/XXXX. I purchased another {$300.00} on XX/XX/XXXX recognizing it would take about 5 days to clear.
Coinbase now says that I won't have access to those funds until XX/XX/XXXX!
My Bank account has been charged {$600.00} and while I don't have access to those funds on Coinbase due to a drop in Bitcoin values I'm loosing money.
Company Response: Closed with explanation
2018-05-24
NY
Money was not available when promised
Money transfer, virtual currency, or money service: Virtual currency
Complaint: On XX/XX/XXXX I made a transaction with Coinbase.com. I made each transaction of {$1000.00} to buy bitcoins. They promised money will be available to withdraw in 5 days. Since 9 days left funds are still not available to withdraw. Their telephone people are basically robots and they don't answer their email. That charged my checking account for {$1000.00} and I think I will never get it back. I also contacted my bank, but since it's a transfer they told me I have zero chances to get money back.This company is a scum since they don't communicate in any way. my account with Coinbase is XXXX. Thanks for your help. XXXX XXXX
Company Response: Closed with explanation
2018-05-23
San Marcos, CA
Money was not available when promised
Money transfer, virtual currency, or money service: Virtual currency
Company Response: Closed with explanation