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 5

2019-07-08

Money was not available when promised

Money transfer, virtual currency, or money service: Domestic (US) money transfer


Company Response: Closed with explanation

Timely Response

2019-07-06

NJ

Money was not available when promised

Money transfer, virtual currency, or money service: Virtual currency


Complaint: On XX/XX/2019 I suspected that unauthorized trades for bitcoin purchases were made from my bank account. I immediately called coinbase and they locked my account so that they would invistigate. they said it would typically take 10 days. I was able to speak to a person after two weeks. they sent me an email stating my case was escalated but because on the surging bitcoin value they were busy. It has now been over 5 weeks and coinbase will not unlock my account until the investigator handles it. customer support cant unlock my account and now I cant even speak to a human any time I call, coinbase just automatically hangs up on me. This company has about a thousand dollars of mine held hostage for 5 weeks and I am growing impatient and frustrated.
Company Response: Closed with explanation

Timely Response

2019-07-05

Cane Creek, AR

Money was not available when promised

Money transfer, virtual currency, or money service: Virtual currency


Company Response: Closed with explanation

Timely Response

2019-07-05

Glen Allen, VA

Money was not available when promised

Money transfer, virtual currency, or money service: Virtual currency


Company Response: Closed with explanation

Timely Response

2019-07-05

FL

Wrong amount charged or received

Money transfer, virtual currency, or money service: Virtual currency


Complaint: I am writing to request assistance in obtaining a response from Coinbase on the below matter. I have tried to contact them on my own without success. I feel defrauded and helpless after being unable to get ahold of anyone. Comments on Coinbase Support : 1 ) When calling their phone number, every prompt selected results in a pre-recorded message followed by them disconnecting the call 2 ) When I emailed them, the representative did not acknowledge my message ( essentially the same as below ) and returned a comment how Coinbase does not charge a fee for cryptocurrency conversions. Cryptocurrency is extremely volatile I understand this. I have been playing with it for years and accept the large ups and extreme downs. However, upon looking back on a transaction that occurred on Coinbases platform, I feel that I may have been defrauded as a transaction took place well below the market prices during that day. While I approved the prompt on Coinbases mobile app to execute the transaction, I assumed it would be done at the market prices for both assets and did not recalculate their numbers for accuracy ( See attachment, from XX/XX/2019 for reference, showing prompt which does not clearly note exit price from one asset and entrance price in purchasing asset ). Comments on Coinbase app : 1 ) They do not allow limit orders on their mobile app. I assumed that the market price executed would be the market price shown on their pages. 2 ) Per Coinbase support, We do not currently charge a fee for cryptocurrency conversions, where one kind of cryptocurrency is exchanged directly for a different kind of supported cryptocurrency. 3 ) Coinbase is registered as a XXXX XXXX XXXX with XXXX. This is a large factor in my reason for assuming their prompted conversion amounts were accurate and did not verify. Please see the attached XXXX prepared summarizing my recent Coinbase transactions. The transaction in question occurred on XX/XX/2019 at XXXX. Assets that were valued at {$2200.00} during the day were converted to {$1800.00} instantly. Based on my calculations, they exchanged my assets in a way that resulted in a 15 % fee in their favor.
Company Response: Closed with explanation

Timely Response

2019-07-05

Southern Pnes, NC

Problem with a lender or other company charging your account

Checking or savings account: Checking account

Transaction was not authorized
Complaint: Coinbase, a cryptocurrency exchange, made several unauthorized withdrawals from my checking account, totaling {$850.00} on XX/XX/2019. If this action is repeated in XXXX, it may drain my checking account and/or result in overdraft fees. Please assist me with this problem. Thank you.
Company Response: Closed with explanation

Timely Response

2019-07-03

Grosse Ile, MI

Other service problem

Money transfer, virtual currency, or money service: Virtual currency


Complaint: I have a verified Coinbase Account, active since XXXX. On XX/XX/XXXX, I traveled to XXXX on a US Visa. After arriving in XXXX, I attempted to simply " open '' the Coinbase App. The App froze, showing a spinning loading icon with no dialog, warning, or indicator of any sort. Every other financial App of mine showed a warning dialog about " unable to open from the current location. '' After arriving back in the US, I tried to open the App and was given a message : " Our records indicate that you have attempted to log in to your Coinbase account from 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 or other governing bodies. As a result, your account has been restricted. If you are not a resident of a sanctioned country or otherwise have received this notification in error, please reply to this email with a copy of a current, government-issued ID and proof of your current address, such as a utility bill or rental agreement. '' That was on Wednesday, XX/XX/XXXX, after which I immediately completed the steps of the automated message for re-verification and submitted support tickets with the required information. There has been no response to Emails, the Support Ticket, and the phone support is constantly " at high volume '' and the call ends. I have tried for the last 7 days to contact for an update, however, there is no reply. The account is completely blocked from logging in and still shows the same message. Every other Financial institution had a very clear dialog that blocked access while in XXXX, and allow access upon returning. Coinbase is the only institution that blocks access without warning, then disables the account, and then does not have a timely or visible process to reenable access. Blocking a financial account for legal travel without warning and no path to resolve the account access is unacceptable. I have tried every other forum to get in touch with Coinbase, but my hands are tied behind my back and I have no other recourse except to file a formal complaint in order to get a response from their company.
Company Response: Closed with explanation

Timely Response

2019-07-03

Oxford, GA

Money was not available when promised

Money transfer, virtual currency, or money service: Virtual currency


Complaint: Coin base refuses to change my email address that I no longer have access to, I can not access my Funds For withdrawal or transfer
Company Response: Closed with explanation

Timely Response

2019-07-02

Nyc, NY

Other transaction problem

Money transfer, virtual currency, or money service: Virtual currency


Complaint: I noticed an unauthorized money transfer on my bank statement from my Coinbase account. I logged on to verify and then contacted Coinbase on XX/XX/XXXX. They disabled my account while they investigated, I received an email on XX/XX/XXXX asking for follow up questions ( Case # XXXX ). Another on the same day saying that my request has been elevated. On XX/XX/XXXX, I received an automated notification that the case had been resolved and closed. I tried to login to my account but it was still disabled. I contacted Coinbase for help. After repeatedly trying to reach them on the customer service line and being disconnected, I submitted a new Case # XXXX- Disabled Account on XXXX. On XX/XX/XXXX, I received an email Case # XXXX stating that having investigated the issue, I am working with a specialist to address it properly. I was told I would get a follow-up with an update. The same email came again on XX/XX/XXXX. XX/XX/XXXX, I received an automated email with a different case number ( XXXX ) thanking me for contacting Coinbase and notifying me that they closed my case. I phoned and asked when I would have access to my account and was told that XX/XX/XXXX I would have access to my account. My account is still disabled. I have tried to call..I have tweeted..I left a callback number and was called back, I was asked to log in to XXXX by the support person, I did and then he disconnected me and never called back. I found a XXXX phone number for Coinbase I spoke to someone named XXXX XXXX, he told me that the only resolution was to close my account and the funds would be returned to my checking account but then began a XXXX message asking what other cryptocurrency accounts I have and requesting I send XXXX BTC to this account XXXX before XXXX XXXX tomorrow to have my funds credited to my bank account. He also told me the current amount in my account which I couldnt verify because I dont have access. I have all emails and screenshots of conversations.
Company Response: Closed with explanation

Timely Response

2019-07-02

Hampton, VA

Other service problem

Money transfer, virtual currency, or money service: Virtual currency


Complaint: On XXXX XX/XX/2019, I submitted a support ticket to Coinbase requesting my 2 Factor authentication be removed in order to allow me to access my account. I requested this service due to the fact I broke my phone and lost access to the XXXX XXXX XXXX on my phone. For awareness, 2FA allows for an additional layer of security to be implemented on many accounts. I received a reply on XXXX XX/XX/2019 @ XXXX EST requesting that create a new account in order to verify my identity and phone number. I complied with the request and submitted all the documentation. I was fully verified by XXXX EST on the same day. I currently possess XXXX Bitcoin currently store on Coinbase, which as of writing is valued at {XXXX}. I am unable to access my account and $ $ $ due to Coinbase not removing my 2FA as requested. I attempted to contact customer support via XXXX and the automated service hung up on me immediately after stating " all representatives are busy and to submit a ticket online. '' This company is growing to provide adequate customer service. This is a financial institution regardless of anyones feelings of cryptocurrency. They transfer hundreds of thousands of dollars an hour in and out through different mediums. This is unnacceptable. A simple search will demonstrate this company has hundreds, if not thousands of complaints of month/s long tickets not being processed. Money lost to investors and a complete disregard for the well being of their customers. I would like my case looked into and resolved, I am sure I am not the only one. My ticket number is XXXX. I have gone as far as creating new tickets with the previously listed number as the titled issue. They simply cancelled the new tickets.
Company Response: Closed with explanation

Timely Response

2019-07-02

Berthoud, CO

Fraud or scam

Money transfer, virtual currency, or money service: Virtual currency


Complaint: On XX/XX/XXXX at about XXXX MST there was unauthorized access to my Coinbase account. 2 factor authentication failed for some reason and over {$12000.00} was stolen from my account. They did this by buying bitcoin then sending it to an unregistered wallet. They then attempted to increase account limits, and obscure the theft by transferring {$12000.00} from my checking account. My bank is aware and blocked the transaction. I contacted the company but they have not indicated that they will assist me, and I am currently locked out of my account- they will not grant access.
Company Response: Closed with explanation

Timely Response

2019-07-01

Money was not available when promised

Money transfer, virtual currency, or money service: Virtual currency


Complaint: I sent XXXX to Coinbase Pro at the bank account their website ( XXXX XXXX XXXX ) advertises : Account Number : XXXX XXXX : XXXX Bank Name : XXXX XXXX XXXX XXXX Address XXXX XXXX XXXX XXXX XXXX XXXX XXXX, XXXX Account Name : XXXX XXXX XXXX XXXX Account Address : XXXX XXXX, XXXX XXXX, XXXX, XXXX XXXX, XXXX XXXX This was sent 10 days ago ( XXXX XX/XX/2019 ). My bank has confirmed that it arrived in Coinbases account. Coinbase have not answered my support ticket ( except for generic copy and pasted responses ) which was raised 5 days later. I called their customer support on Thursday ( XXXX XXXX ), Friday ( XXXX XXXX ) and Monday/ today ( XXXX XXXX ). They respond in rehearsed answers and do not tell me whats going on. This is the second payment that they have taken. Another one being made to their XXXX account on the same day that my bank confirmed was deposited into their account within an hour. I think they are holding customer funds to use for their own liquidity. Internet forums are full of similar stories with Coinbase. They have the worst reputation of all cryptocurrency exchanges. I should of read the forums before sending my money to Coinbase.
Company Response: Closed with explanation

Timely Response

2019-06-28

Wesley Chapel, FL

Other transaction problem

Money transfer, virtual currency, or money service: Virtual currency


Company Response: Closed with explanation

Timely Response

2019-06-27

South Florida, FL

Money was not available when promised

Money transfer, virtual currency, or money service: Virtual currency


Complaint: purchased bitcoin and erthrum coin from coinbase worth XXXX dollars to try it out and the money was frozen and they transfer from a simple debt card took days to transfer and the activity was paralysed and i lost the big gain the currency offered at the time of purchase and yet still they can not let you take your money out for next 18 days this i find really crazy and horrible plus the customer service do not respond nor answer their phone. the automated system is horrible and useless.
Company Response: Closed with explanation

Timely Response

2019-06-27

Harsens Is, MI

Fraud or scam

Money transfer, virtual currency, or money service: Mobile or digital wallet


Complaint: I have been attempting to close my account with Coinbase.com However there is {$1000.00} dollars in cash in the account that Coinbase is not giveing back to me. I was told to move all my assets off the site, and I tried to and all my digital assets I moved off, However they have Coinbase Pro and that is where my {$1000.00} is and there is no option for me to deposit that money into my bank account. They also dont respond to any of my emails. They are robbing me.
Company Response: Closed with explanation

Timely Response

2019-06-26

Galena, OH

Managing, opening, or closing your mobile wallet account

Money transfer, virtual currency, or money service: Mobile or digital wallet


Complaint: Coinbase wallet and I'm unable to close the account and redeem my cash. They don't respond to email or answer the phone. My password will not reset. I'm unable to access my {$200.00} which they continue to make money on via float.
Company Response: Closed with explanation

Timely Response

2019-06-25

Other transaction problem

Money transfer, virtual currency, or money service: Virtual currency


Company Response: Closed with explanation

Timely Response

2019-06-24

Managing, opening, or closing your mobile wallet account

Money transfer, virtual currency, or money service: Mobile or digital wallet


Complaint: I have had a Coinbase account for over 2 years now, I transferred bitcoins to a XXXX XXXX I had created at the beginning of the account, now I want to withdraw them but I keep being asked about a secondary e-mail that I obviously dont remember, Im trying to contact the company support for more than 3 weeks with not a single reply from them. I searched online and this is a common problem so I dont understand the delay.
Company Response: Closed with explanation

Timely Response

2019-06-23

Key Biscayne, FL

Other service problem

Money transfer, virtual currency, or money service: Virtual currency


Complaint: am XXXX, onn a recent trip to XXXX to visit my family I tried to check my balances on Coinbase. When I returned to the United States, I was surprised to find out that Coinbase had locked my access to my own account. They requested documents to show that I live in the US and I sent the same day my back account statements as they required. However, even after I resubmitted all documents requested I haven't heard from them in more than 12 days. It is impossible to get a person on the phone to discuss this issue. They only have email communication available but the response is obviously automated.I don't have access to about {$9000.00} dollars value in cryptocurrency. I contacted them several times and not resolution at this time, is not the first time I filled a complaint against them, last year they locked my account and was almost 1 month to gain access again. I need them to unlock account asap. Thank You for helping us on this matter!
Company Response: Closed with explanation

Timely Response

2019-06-22

Beyersville, TX

Other transaction problem

Money transfer, virtual currency, or money service: Virtual currency


Complaint: Coinbase has an account called Vault, where you put some extra barriers in place to protect against malicious withdrawals. I recently transferred some funds to my Coinbase Vault, but Im unable to access them because i dont have access to an old work email address ( the second of two email addresses tied to the account ). I do have access to the primary account email. I contacted Coinbase several weeks ago and Im glad to provide any needed identity verification. I have received no response and so my funds are inaccessible to date.
Company Response: Closed with explanation

Timely Response

2019-06-22

FL

Money was not available when promised

Money transfer, virtual currency, or money service: Virtual currency


Complaint: I had someone in a home use my phone to transfer money from my account to Coinbase. I alerted Coinbase. They froze account, This happened back in XX/XX/2019 Here it is the XX/XX/2019 and I still can not enter my account pending an investigation that supposed to be 1 week. I need to transfer money from there to my XXXX XXXX account to cover the XXXX I am in. I had an issue with my job in Pennsylvania and a emergency. This has caused alot of financial hardship! I have lost alot of money since I had my account frozen. I could of reinvested the principal a few times to make a few thousand dollars. So I am going to be contacting a lawyer soon. Latest call to ask what was going on with account gave me this case number Case : # XXXX The following are calls Ive made and was given a case number that gets closed and does not resolve me being locked out of account. Case # XXXX Case : # XXXX Case # XXXX Case # XXXX Case # XXXX
Company Response: Closed with explanation

Timely Response

2019-06-21

Belmont, MA

Confusing or missing disclosures

Money transfer, virtual currency, or money service: Virtual currency


Company Response: Closed with explanation

Timely Response

2019-06-20

Kendall, FL

Managing, opening, or closing your mobile wallet account

Money transfer, virtual currency, or money service: Mobile or digital wallet


Complaint: Coinbase insists on clawbacks to my accounts. Their custodial banks refer me Coinbase Support for support but their specialist is unreachable and only sends out automated responses. Much like a robot. It is very frustrating when trying to prove your identity and settle outstanding balances that should clearly be in my favor since all I did was buy coins that went up 30-40 % each. The rest is what they call a compromised account where custodial banks had the privilege of selling and sending my coins to Coinbase without my knowing ; weather or not this was to be profitable to me.
Company Response: Closed with explanation

Timely Response

2019-06-19

New Bedford, MA

Confusing or missing disclosures

Money transfer, virtual currency, or money service: Virtual currency


Complaint: I made an online purchase on Coinbase.com for XXXX $ of crypto currency. Only after purchasing was I informed that my funds would be un available for withdrawal until the XXXX of XXXX this was over a week ago.I believe my initial purchase was on the XXXX of XXXX for XXXX. I inquired as to why my funds were being held, and I was told it was for " security reasons '' this was the only information that I was given. I feel it's very misleading and unfair to the consumer to have there funds held for this long of a period without any real answers as to why. Or without any prior warning that this was standard operating practice for this company. I am a XXXX veteran and As it is I'm already on a tight budget to have my money held hostage without any really explanation why is very frustrating to me. O would appreciate any guidance as to how to best handle the situation. Thank you for your time. Sincerely XXXX XXXX
Company Response: Closed with explanation

Timely Response

2019-06-18

Baton Rouge, LA

Managing, opening, or closing your mobile wallet account

Money transfer, virtual currency, or money service: Mobile or digital wallet


Company Response: Closed with explanation

Timely Response


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