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 7
2019-05-06
Charlotte, NC
Other transaction problem
Money transfer, virtual currency, or money service: Virtual currency
Complaint: Attempted to sign into coinbase account but locked out due to 2-factor identification. When attempting to verify identity the identification process required access to device that was damaged ( which was also causing me to be unable to 2-factor identify ). Emailed coinbase customer support but was not given a method to verify identity and log into account without the damaged device. Was unable to be fixed in one year - attempted to resubmit a new ticket via coinbase website however submissions always time out.
Company Response: Closed with explanation
2019-05-05
Managing, opening, or closing your mobile wallet account
Money transfer, virtual currency, or money service: Mobile or digital wallet
Complaint: I had money on https : //www.coinbase.com ( Coinbase Inc ) which I withdrew and I still have not received it.
On the XXXX XXXX I withdrew the following amounts to my XXXX bank account ( two separate transactions : XXXX XXXX I have contacted them numerous times but have not received my money back.
The bank details are correct and I withdrew around XXXX the day before with no problem.
Company Response: Closed with explanation
2019-04-29
ND
Wrong amount charged or received
Money transfer, virtual currency, or money service: Virtual currency
Complaint: Hello my name is XXXX XXXX, I am a citizen of the United States. I have had an account opened with Coinbase which is a cryptocurrency exchange. On XX/XX/2019 at approximately XXXX XXXX I initiated 4 transactions on Coinbase from my XXXX bank account. The first transaction amounted to XXXX , second one was XXXX , 3rd one was XXXX $ and the last one was XXXX XXXX Before doing those transactions I had crypto currencies valued at XXXX $ at the time. Upon reviewing my account and transaction I realize that a XXXX was added to everyone of my transactions which I am certain was not a mistake on my end due to the fact that I review every transaction before completing it. These purchases were initiated via ach transfer.. I attempted to cancel these transactions but upon reviewing Coinbase user agreement terms I learned that once a ach transfer is started there is no way to stop it. 2 days later my Coinbase account was blocked due to failed payment and the XXXX $ which I had in my account. Coinbase has begun liquidating my assets stating that I owe them XXXX , I have contacted numerous times there customer service department but was unable to get any assistance. Coinbase is basically robbing me of my money due to a technical error on their end wether it was intentional or not I am not aware. I hope that this department will be able to assist me. My case number with Coinbase is XXXX.
Company Response: Closed with explanation
2019-04-23
Odell, OR
Money was not available when promised
Money transfer, virtual currency, or money service: Virtual currency
Complaint: Around XX/XX/2018 I attempted to initiate a vault withdrawal of XXXX Bitcoin on my Coinbase account so I could sell it for USD ( The value at the time was approx {$12000.00} ). The vault withdrawal got stuck and I never received the confirmation email. I contacted Coinbase support on multiple occasions and when I actually got a response from a living human they appeared to have not even read my complaint. Eventually they said they " escalated the complaint '' but I never heard back and nothing was fixed. A year later, the vault withdrawal is STILL stuck, and I am STILL receiving automated responses. I attached one of the email back-and-forths but there were a couple others with more or less the same sort of interaction. Zero real help on their part.
Company Response: Closed with explanation
2019-04-23
Decatur, GA
Fraud or scam
Money transfer, virtual currency, or money service: Virtual currency
Company Response: Closed with explanation
2019-04-20
Neotsu, OR
Fraud or scam
Money transfer, virtual currency, or money service: Virtual currency
Complaint: On XXXX I wanted to send all of my Cryptocurrency back from XXXX XXXX over to my Coinbase wallet. In my XXXX account I was currently holding {$3300.00} dollars worth of Bitcoin Cash. I went into to Coinbase to retrieve the address to send my current holdings on XXXX over to Coinbase. I copied the address and went back into to XXXX XXXX and pasted the address in to withdraw my Cryptocurrency and send it over to Coinbase which was the receiving end.
I waited a few hours and figured the transaction was complete. When u checked my balance in Coinbase I only had {$2.00} dollars. I went in and checked XXXX and compared addresses and noticed that I selected a bitcoin address. I therefore, accidentally sent Bitcoin Cash to. Bitcoin address. After learning this I immediately sent XXXX XXXX a support ticket and I also sent a support ticket to Coinbase as well.
XXXX XXXX reached out to me via email and explained that only the receiving end would be able to help me at this time due to it was sent to their address ( wallet ). I then completed another support ticket with Coinbase and explained what had happened and provided them with the XXXX XXXX and the date.
Coinbase support reached back out to me via email and explained that my ticket has been escalated and a specialist was currently working on my case # XXXX. The agent from Coinbase stated it could take 5 to 7 business days to complete the investigation. I have sent in a support ticket once or even twice a day about this same issue.
I will not be out of pocket {$3300.00} I guarantee that much.
Both Bitcoin and Bitcoin Cash share the exact same Offical Logos which is confusing to not just me but thousands of people. I have read many complaints on this issue via XXXX search.
Coinbase states that Hi XXXX, Coinbase does not support transactions where one cryptocurrency is sent to the address of a different cryptocurrency. This type of confusion can occur when cryptocurrencies share identical address formats, such as Bitcoin and Bitcoin Cash.
While the two cryptocurrencies may each have identical addresses, they are separate blockchains and the shared address will have a different transaction history depending on which blockchain is being used. To see a list of the addresses previously used, please visit your addresses page here : https : //www.coinbase.comXXXX. For more information on the differences between BTC and BCH, please visit our Bitcoin Cash FAQ here : XXXX XXXX XXXX? XXXX.
Using the same exact logo should be banned by the government because Bitcoin can easily be mistaken for Bitcoin Cash and vise Versa.
Onl
y Coinbase holds the private keys to these wallets and are the only entity who is able to retrieve the funds which are now stuck in the bitcoin address. If a wrong address is accidentally used the transaction should fail and return your money. Per Coinbase sen
ding Bitcoin Cash to a Bitcoin address will result in permanent loss.???? Seriously? So we as the customer are out of money because of a flawed system?
Banks would never allow this to happen. They have saf
eguards set in place. Coinbase wants to take over the banking industry which will never happened because this market is highly flawed especially if peopl
e can loss their money by a minor mistake.
Coinbase also states on their website that they are The most trusted Cryptocurrency site.
People will not trust anything that can easily result is loss of money for in this case fraud or scam you from your money since they hold the private keys to the wallets and they only have the power to retrieve lost money.
Company Response: Closed with explanation
2019-04-19
San Diego, CA
Problem adding money
Money transfer, virtual currency, or money service: Mobile or digital wallet
Company Response: Closed with explanation
2019-04-17
Anaheim, CA
Money was not available when promised
Money transfer, virtual currency, or money service: Domestic (US) money transfer
Complaint: On XX/XX/XXXX at XXXXAM ( Friday ), I initiated a wire transfer to Coinbase Inc. for the amount of {$3500.00} from XXXX XXXX XXXX
According to Coinbase Pro : " Bank wire transfers may be credited to your Coinbase Pro account on the same day if submitted by XXXX PM PT. Otherwise, funds will be available after one business day. '' I have made several attempts to contact support and locate my funds ( and they have confirmed the funds have received notice of the wire on their end ). The best they can do is relay me to a 'specialist ' via email. I asked to speak to a specialist directly, and they do not have that as an option. Email responses are scripted. There are over 7,100 people on XXXX with the same issue. Please do something about this. This is fraud and false advertisement.
I have confirmation from XXXX XXXX that they have indeed received the funds on XX/XX/2019.
Coinbase Case # XXXX Thank you.
Company Response: Closed with explanation
2019-04-12
Fraud or scam
Money transfer, virtual currency, or money service: Virtual currency
Company Response: Closed with explanation
2019-04-03
Fraud or scam
Money transfer, virtual currency, or money service: Virtual currency
Company Response: Closed with explanation
2019-03-29
Camarillo, CA
Unauthorized transactions or other transaction problem
Money transfer, virtual currency, or money service: Mobile or digital wallet
Company Response: Closed with explanation
2019-03-22
North Hollywood, CA
Other transaction problem
Money transfer, virtual currency, or money service: Virtual currency
Company Response: Closed with explanation
2019-03-21
Camden, NJ
Other service problem
Money transfer, virtual currency, or money service: Virtual currency
Complaint: There are false/misleading advertising methods used by Coinbase for its referral program. In XX/XX/XXXX during the height of the cryptocurrency craze, I was referred to Coinbase by a website dedicated to sharing information about Bitcoin and other cryptocurrencies. Upon signing up, Coinbase told me, " Introduce a friend to Coinbase. You will both get {$10.00} of free Bitcoin when your friend buys or sells at least {$100.00} of digital currency. Learn more. '' After I signed up, verified and confirmed both my account and identity, and purchased at least {$100.00} worth of Bitcoin, Coinbase has been giving me a million and one excuses under the sun as to why they can not issue me the {$10.00} as promised. I have been inquiring about this issue for well over a year and absolutely nothing has been done. I reached out to Coinbase online support at least twice with the same, tired, generic unhelpful responses to my issues.
In XX/XX/XXXX, I called Coinbase and spoke to a representative named XXXX and a supervisor named XXXX. Both were unhelpful and all they could do was decline me proper assistance, " understand '' and " apologize. '' They verified that I was referred, but they say because it is their " automated system '' that makes the final decision, that I am not entitled to my promised {$10.00}. So it's okay to XXXX over loyal customers, especially as long as you endlessly " apologize '' for the inconvenience and blame the inconvenience on the automated system that you refuse to fix, right Coinbase?
I am absolutely disgusted with this company and their lack of competence and ethics. This is similar to bait and switch tactics of other companies and it is highly unethical for Coinbase to not take accountability for their wrongdoing whatsoever in this situation. They hide behind their " automated system '' that they have created to refuse customers their rightfully earned {$10.00}.
How is a business even allowed to operate this way? How can a business have zero regard for their customers? Coinbase can operate a site, a whole trading system, etc yet they can't issue {$10.00}? Futile apologies simply do not solve problems. My expectations STILL have not been met and this is extremely unfair to the customer.
I filed a complaint with the XXXX XXXX XXXX and Coinbase refuses to reach out to me and the XXXX about this issue. The XXXX actually tried to contact Coinbase twice and had to close my XXXX case due to " no response. '' Coinbase also closed all of my Coinbase cases and marked them as " resolved '' against my will.
I have been in a few similar situations like this before with other companies and it was always determined that the company was in the wrong and they paid me accordingly. So I'm going to need Coinbase to fully cooperate and give me what's due. Thanks.
Company Response: Closed with explanation
2019-03-18
Confusing or missing disclosures
Money transfer, virtual currency, or money service: Virtual currency
Company Response: Closed with explanation
2019-03-12
ID
Money was not available when promised
Money transfer, virtual currency, or money service: Virtual currency
Complaint: I have 3 Devices that access coinbase. In early XXXX my " computer '' coinbase account asked me to confirm my account through an e mail link. That never arrived. Later in XXXX both my cell phone and tablet asked to verify my account through a caoinbase email. neither of those have ever come through. I did what coinbase asked, checked my spam, added them to my contact list. Nothing. I've called 9 times since XX/XX/XXXX, to no avail. customer service is a sham, all they say is we'll look into it, and send you a e mail when we fix it. The emails from customer service do arrive, so coinbase emails are getting through. Its been 2 weeks now, I can not log into coinbase, I can not see my accounts, I can not withdraw my money.
All I get form the " yes customer service people '' is their working on it. Never gets fixed, my computer has been locked out for 6 weeks.
I'm not the only one!
https : XXXX
Company Response: Closed with explanation
2019-03-07
Drummond Island, MI
Confusing or missing disclosures
Money transfer, virtual currency, or money service: Mobile or digital wallet
Complaint: I purchased bitcoin {$500.00} worth off of coinbase on XX/XX/2019 for a total price of {$510.00} which had a {$10.00} fee assocaited for the transaction. The money was taken out of bank account via ach on XX/XX/2019. I then wanted to send the money to someone via a direct transfer. I was informed by coin base I couldnt send my money until a 10 day business hold had taken place. Which I find unreasonable because the money was taken out of my account. As you know the price of bitcoin flucuates daily. I bought it to send right away, not to hold for 10 days. I then called them an explained my funds had been taken out of my account, and I would like to send it. They told me I couldnt, but said I could sell it and then buy it back when I wanted to send it. This would allow them in charge me two more fees!!!!!! Imgiane how much money they can have on hand to manipulate the market if they do this. They could have miilions of dollars they have taken out of accounts to easily by and sell to manipulate prices. They told me they couldnt refund my XXXX or even my fee.
Company Response: Closed with explanation
2019-03-05
Anaheim, CA
Unexpected or other fees
Money transfer, virtual currency, or money service: Foreign currency exchange
Complaint: To CFPB bureau.
My name is XXXX XXXX Address : XXXX Phone number ( XXXX ) XXXX As a Victim of the untrustworthy crytpo currency trading service of COINBASE Website https : //www.coinbase.com Mailing Address XXXX XXXX XXXX XXXX XXXX XXXX XXXX, CA XXXX Ive been using the Coinbase app to start doing some business regarding to crypto currency trading.
At first the holding fund status of my account is 18 days ( too long??? Fraud??? ) instead of 5-7 days like what written is terms and conditions on their website.
And I am not the only one ... ....
Lately I found out there were targeting specificly US customers Search on google I found out there was thousands thousands of complaining about COINBASE BEING ROUGE, empty customers banks with hidden fees charge, using incorrect exchange rates, holding fund for 1-3 months to stealing our hard work money, causing frustration and return our emails with the same methods were working on it please be patient.
To me its like were stealing your money in front of your nose, so what!
I have {$490.00} crytos in my account with coinbase.
Later on I did the calculations with all of my transaction and found out I lost merely {$60.00}! Which is impossible 1/Every {$100.00} trading into XXXX XXXX I lost {$27.00} not {$3.00} like they said I did at least 32 transactions from $ XXXX {$3000.00} each Time the amount Never match EVEN I INCLUDED THE TAX and THEIR SERVICE FEES.
the difference around 7-17 % consider how much they scam from people.
1/ holding for 18 days, they said to prevent fraud, however they took the money from my bank a second they received the order.
And release them whenever they like?
18 days for me, some folks got 2 months This is an act of criminal, agains customer free will Acting like a big guy with the cryto fakes Please, take a look of my complain letter, do the investigation, return justice to the US citizens.
LET MAKE SURE COINBASE IS PURNISH. Their company deserve jails, and I know they rich enough to pay for every fees.
Lets game on Best regard
Company Response: Closed with explanation
2019-03-04
San Antonio, TX
Other transaction problem
Money transfer, virtual currency, or money service: Virtual currency
Complaint: Coinbase implemented the support for XRP cryptocurrency and when I pulled up the deposit web form it showed only the wallet address, it did NOT show an XRP tag, so I completed the transfer and it said it would take 10min, after 20min I checked my wallet and it was not in there, so I opened up a support ticket, they said that the form should have had a wallet address and an XRP tag number which mine did not. I even sent them a screenshot of it showing no need for the XRP tag when I pulled up the deposit form on their site. They proceed to tell me they can not put the currency that I transfered to their wallet in my XRP wallet when this was NOT my fault in ANY WAY!!! This is a fault with their site and DEV team letting people submit transfers without their system being fully operational and in no way did it say any tag requirement when I made the transfer and I have proof of that. They need to fix this or I will be pushing the issue legally as this was NOT MY FAULT because their site was not fully functional since implementing their new XRP support wallet!
Company Response: Closed with explanation
2019-03-04
Herndon, VA
Money was not available when promised
Money transfer, virtual currency, or money service: Virtual currency
Complaint: Date : XX/XX/19 Amount : {$400.00} Company : Coinbase Action Taken : Funds originally placed on hold for 16 days Called to get the hold reduced ( since my funds already cleared bank account ) Coinbase increased hold to 26 days Multiple tickets have been opened ( # XXXX, # XXXX, # XXXX, # XXXX ) I have ACH trace numbers and proof that the funds cleared.
Per Coinbase : " Deposits are placed on a temporary hold while we wait for the transfer to clear ''
Company Response: Closed with explanation
2019-03-01
Carroll Station, NV
Fraud or scam
Money transfer, virtual currency, or money service: Virtual currency
Company Response: Closed with explanation
2019-02-25
La Mesa, CA
Confusing or missing disclosures
Money transfer, virtual currency, or money service: Mobile or digital wallet
Company Response: Closed with explanation
2019-02-21
CA
Money was not available when promised
Money transfer, virtual currency, or money service: Domestic (US) money transfer
Complaint: Coinbase.com represented on their website, and app, that a money transfers take 3-5 business days to complete before funds are available to transfer out ( such as transferring to another cryptocurrency exchange ). After I submitted the money transfer ( on XX/XX/XXXX ) I received a confirmation email stating the funds will not be available to transfer until XX/XX/XXXX. That's 13 business days ( 17 calendar days ).
They misrepresented the time scale by almost double. Locking up my funds, past an important date for a specific crypto investment I was going to make at another crypto exchange.
Company Response: Closed with explanation
2019-02-14
Dallas, TX
Money was not available when promised
Money transfer, virtual currency, or money service: Virtual currency
Complaint: I had an account with XXXX XXXX ( part of Coinbase ) and had {$10000.00} in my XXXX XXXX account when, on XX/XX/18 they notified me via email that they were closing my account. They stated that I need to withdraw my funds from my account, but I was unable to login to my XXXX XXXX account to do so.
This case did not involve digital currency at all, simply a USD wire I sent from my verified XXXX XXXX XXXX account that has not been returned.
I called Coinbase 's customer support line and described how I was unable to withdraw my funds from XXXX XXXX, and asked to speak with a representative with XXXX XXXX. They stated that XXXX XXXX had no customer support phone number, but that they would assign a specialist to my case and due to the nature of my issue, they were going to " escalate '' my case for quicker response. They told me I should expect an email from XXXX XXXX " within 5-7 business days '' to work with me to resolve the case. I then received an automated email right after the phone call stating that they have opened the ticket for my case.
After about 2-3 weeks, I had no calls or emails to follow up on the case, so I called again and emailed again and they said again that it was escalated and awaiting response by specialist and sent another automated email each time. For the next 6 or so weeks I repeated this and still got the same response and no resolution.
It has now been 57 days since my account closure with no contact with a representative to send my funds back to my account. I think this is an unacceptable treatment of a customer. I have attached my email correspondence with Coinbase Support since my XX/XX/18 account closure notice.
Company Response: Closed with explanation
2019-02-14
Santa Ana, CA
Other service problem
Money transfer, virtual currency, or money service: Virtual currency
Complaint: On XX/XX/XXXX, I received form XXXX from Coinbase, Inc. and the form shows excessively inaccurate transactions proceeds of {$770000.00} for the year of XX/XX/XXXX. My own records for all sales proceeds in XX/XX/XXXX only add up to about {$110000.00}. I also used the reporting service from a company named XXXX XXXX, which is contracted by Coinbase itself, to get an official tally of all my XX/XX/XXXX transactions. Their reported gross short term proceeds for XX/XX/XXXX from my Coinbase Pro is {$110000.00}. I immediately contact Coinbase customer service department and they told me I need to submit my complaint via email. I did so and got a case # XXXX. About a week later, the case got closed with no solusion offered. I opened another case # XXXX, and I was informed that my case had been forwarded for review. A few days later, I got a notification that the case has been resolved, but did not specify how, and what I would receive from the company. Therefore, I had to open the third case # XXXX on XX/XX/XXXX. On XX/XX/XXXX I received a similar notification like the last time stating that the issue had been resolved and the case was now closed, and nothing further could be done. After the third attempt, I didn't know what to do because their customer service representative will not discuss about my tax form over the phone, and submitting request for review of my transactions via email didn't take me any where. I would really appreciate if you can help get the company to respond to my complaint, because I have been losing sleep and very stressful because I'm afraid this will create a big problem for me with IRS.
Thanks, XXXX
Company Response: Closed with explanation
2019-02-08
N Bethesda, MD
Other transaction problem
Money transfer, virtual currency, or money service: Virtual currency
Company Response: Closed with explanation