Coinbase, Inc

2018-03-27

Warrenton, VA

Other transaction problem

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

Complaint: I held 8 bitcoin at Coinbase at the time of the fork but I have not been credited with bitcoin cash. What happened is that in between the time of the fork and the time in which the accounts were credited I had to move my account because of access issues. I did so following Coinbase 's instructions. My account was never credit with bitcoin cash, however. I have been trying to resolve this with Coinbase since XX/XX/XXXX. On XX/XX/XXXX I was told by Coinbase support " Hi there XXXX, Im working with a specialist to review and finalize your balance transfer. We will follow-up as soon as the transfer is complete, or if we have any further questions. No further action is required on your part at this time. Please note, we are experiencing tremendous support volume that may delay response times. For fastest response time, please do not send more than one email response. Thank you in advance for your understanding and patience. Thank you for your patience in the meantime! '' But I have yet to be credit and nothing has happened.
Company Response: Closed with explanation

Timely Response

2018-03-27

Weston, CT

Money was not available when promised

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

Complaint: On XX/XX/XXXX around XXXX I attempted to buy {$1500.00} worth of BTC from coinbase.com My bank refused the charge. On XX/XX/XXXX I noticed that I was not able to login to the exchange XXXX. I would get the message " error, please contact support. '' On XX/XX/XXXX I called in support at XXXX to ask what happened and they told me my account was flagged because of the charge refused by my bank on coinbase.com. Please note, I can login to coinbase and NOT XXXX. On XXXX I have approximately {$8600.00} on that exchange in my account that I can not access. The company coinbase has on file, my fingerprints, drivers license, bank statements, passports etc. More than enough to confirm that my account has no fraud activity on it. I emailed the company on XX/XX/XXXX explaining what happened with my bank and clouded screen shots of emails as well as copies of bank statements. They responded and told me the following " For fastest response, please do not create multiple tickets about your issue. '' It is now XX/XX/XXXX and I still can not login to my account and therefore have no access to my money. The company is holding my money hostage with no proof of fraud- in fact I have been fully cooperative in linking my bank accounts and providing all identification to prove that I am myself, XXXX XXXX XXXX . I am a XXXX XXXX XXXX with the state of Connecticut and a citizen of the United States and do not appreciate a financial exchange robbing me of approximately {$8600.00} by not allowing me to access my money. At this point I have called them onXX/XX/XXXX and XX/XX/XXXX and receive similar responses from the customer support team ; that my case is going to a specialist and that I have to wait for a undefined span of time. Also that they can't " tell me that information '' when I ask questions regarding my account. At first they claimed it would take 4-5 business days to resolve. That time frame has now been surpassed. I have looked into this issue and it seems that many customers have had a similar issue. The Coinbase/XXXX company blocks people from logging into their accounts and blocks access to their money from anywhere from 1 week to 6 months or longer. Also since the chargeback occurred on coinbase.com there is no reason why I should be blocked from accessing my money on the gdax.com exchange which is separate website and exchange. I didn't even know that they were under the same ownership as they appear as two separate sites. Please help me in this matter. Sincerely, XXXX XXXX XXXX
Company Response: Closed with explanation

Timely Response

2018-03-27

Madison, WI

Fraud or scam

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

Complaint: Date : XX/XX/2018 ~ Now Amount : about 6k + my ETH & LTC I have tried to withdraw my money from the company, but the company has not allowed me to do that and they are holding my money for a long time. They required me to verify my SSN in their system in order to withdraw my money, but the SSN verification system has not been working. I verified my driver 's license, I have a valid SSN, and I tried all the ways that they recommended me, but the system is still not working so I can not withdraw my money. I'd like to withdraw my money from the company. It does not make sense that I can not have my money back. I attached some evidences ( I removed my information ).
Company Response: Closed with explanation

Timely Response

2018-03-27

Bueche, LA

Other transaction problem

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

Complaint: I created a Coinbase account last year to dabble with cryptocurrency. This process involves submitting a picture ID ( Drivers License ), a photo using your computer 's camera, personal info, and banking information. Your email address is submitted as well and used as your user name for access to your account. Coinbase uses a 2 factor authentication process if you or someone tries to change your password. I made a few small investments in Bitcoin and Ethereum in XX/XX/XXXXor XX/XX/XXXX. InXX/XX/XXXX I switched internet service providers at my home which inadvertently shut off access to the original email address used to set up my Coinbase account. I forgot to go online and change the account information to my new email address. In early XX/XX/XXXX I received a text message from coinbase as part of the 2 factor authentication alerting me that someone was attempting to change my password. I denied the transaction and immediately tried to log into my account. I was not successful. The reset password option will only allow me to send a reset option to the original ( non-acessable ) email address. I have called and emailed Coinbase tech support since XX/XX/XXXXwhen this happened. I was told to setup a new account and submit the same authentication documents as I did with the first account. I did this, this time using my new email address. I have been told that this situation has been " escalated '' to someone who can help. NO HELP has happened. I have been locked out of my account and missed an extraordinary opportunity. I have watched the price of Bitcoin and Ethereum explode and now plummet! I still have no access to my funds.
Company Response: Closed with explanation

Timely Response

2018-03-26

Austin, TX

Money was not available when promised

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

Complaint: XX/XX/XXXX - I made two withdrawals with Coinbase, one for {$90000.00} ( Transfer ID : XXXX ) and another for {$10000.00} ( Transfer ID : XXXX ). Coinbase quotes me that the estimated payout for the withdrawals will hit my bank account XX/XX/XXXX. XX/XX/XXXX - I submit a support request asking them to investigate, recover, and transfer my funds to me. The support case # is XXXX. XX/XX/XXXX - Coinbase reaches out to me and acknowledges the problem and says they will work with a specialist to address it properly. They provide no concrete answers as to what happened or when it will be resolved.
Company Response: Closed with explanation

Timely Response

2018-03-26

Phoenix, AZ

Other transaction problem

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

Complaint: Coinbase.com has locked my account. I've been emailing and calling for months with no resolution. They assigned a case number as XXXX and have not done anything. I very much need this issue resolved and access to my funds.
Company Response: Closed with explanation

Timely Response

2018-03-26

Boston, MA

Wrong amount charged or received

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

Complaint: On the evening of XX/XX/XXXX I placed an order for Bitcoin Cash ( BCH ) on XXXX. The order was placed at {$5400.00} and {$5300.00} USD per BCH, which was far higher than the website showed at the time that I clicked " Place Buy Order ''. Shortly after, all BCH trading on XXXX and their parent company Coinbase was halted. Trading did not resume until the following afternoon, at which time the price had dropped to under {$4000.00} USD. The highest price that BCH ever hit according to Coinbase 's own website was {$3400.00} USD on XX/XX/XXXX. I opened a support ticket with XXXX on XX/XX/XXXX and have followed up twice since. I have only received an automated response that they are " experiencing an unprecedented level of traffic ''.
Company Response: Closed with explanation

Timely Response

2018-03-25

Milwaukee, WI

Other service problem

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

Complaint: I submitted a request to coinbase on XX/XX/XXXX at XXXX stating that my account may have been compromised because I did not recognize a CC that was associated to my account. Literally 3 minutes later at XXXX on XX/XX/XXXX I emailed and stated that I remembered the account was a disposable credit card that I tried to link to get the funds off of. I did/do not have access to see transaction details for the card because it's just a prepaid cc so I was unable to see deposits to the card to verify it. Coinbase then locked my account. I emailed them multiple times trying to get my account unloacked. I have not received any response from them in over two and a half weeks. I emailed them on XX/XX/XXXX, XXXX, XXXX, XXXX, XXXX, XXXX, XXXX and the XXXX. I have received no response. I have contacted they're telephone support number and they continue to tell me that there is nothing they can do. They will not provide any means in which to contact the department that is responsible for unlocking my account. They are holding my money hostage, I am unable to access my funds and they are doing nothing to help me.
Company Response: Closed with explanation

Timely Response

2018-03-25

Glendale, CA

Other transaction problem

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

Company Response: Closed with explanation

Timely Response

2018-03-24

Gary, IN

Money was not available when promised

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

Complaint: I have be using Coinbase and XXXX for cryptocurrency Investments, however on XX/XX/XXXX my account got " disabled '' for an unknown reason, I have tried contacting support multiple times since then but still have not gotten an answer or a solution. I have access to my coinbase account, however my money is all kept on XXXX which is owned by coinbase, when I try to log in it tells me that I need to contact support, but I get no answer from them. The account has over 8000 dollars in it and also some cryptocurrency of a value of more than 1000 dollars. I need to be able to access my XXXX or have all my assets in XXXX transferred to coinbase for me to withdraw them.
Company Response: Closed with explanation

Timely Response

2018-03-24

Money was not available when promised

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

Company Response: Closed with explanation

Timely Response

2018-03-23

San Francisco, CA

Fraud or scam

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

Complaint: On XX/XX/XXXX, I wired {$50000.00} from XXXX to Coinbase account, following their instructions. Coinbase website states that the money should be available 3-5 business days after the wire transfer. A week later, on XX/XX/XXXX, I contacted XXXX to check on the wire, as I have not received it. XXXX pulled up XXXX and confirmed that the money was accepted by Coinbase. They sent an inquiry to Coinbase and advised me to contact them as well. Ive called Coinbase customer service number, and got an automated message stating that they are not responding to any questions other than technical. I filed a support request via an email form on their website. I also sent several messages via @ coinbase_support on XXXX. No response was received. On XX/XX/XXXX after repeated attempts of XXXX and myself to get in touch with Coinbase, no one responded. I found a Coinbase contact on XXXX ( XXXX XXXX, VP of Payments ) and emailed her with the description of incident. She responded to me next day, assuring that someone from customer service will get in touch. After several days of back and forth, on XX/XX/XXXX I received a generic email from Coinbase stating that recently they have reviewed the wire and the name didnt match so they have to send it back. Another email of XX/XX/XXXX confirmed that the wire has been sent and it will take 3-5 business days to be returned to XXXX. On XX/XX/XXXX, the money has not arrived. XXXX looked into it again, and confirmed that Coinbase has not even originated the return. In sum, its been a month since I sent {$50000.00} to Coinbase following their instructions. The bank accepted the money, didnt deposit to my account and didnt return it. Theyve made no good faith attempt to resolve my complaint. Moreover, theyve provided no reasonable way for me or another bank to contact them. They are violating the consumer protection law and are engaged in fraudulent activity. {$50000.00} is a big part of my life savings and Coinbase defrauded me of it.
Company Response: Closed with explanation

Timely Response

2018-03-23

Foothill Ranch, CA

Fraud or scam

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

Complaint: I erroneously initiated a deposit into XXXX for {$14000.00} and had my bank place a stop payment on the deposit. I informed XXXXCoinbase of this so they could cancel the deposit on their end and they froze my account. I have over {$30000.00} in USD and {$8000.00} worth of digital assets on their platform and I am unable to withdraw my funds or view my trade history. Case ID : XXXX Updated : XX/XX/XXXX XXXX PDT Created : XX/XX/XXXXXXXX PDT XX/XX/XXXX XXXX Please cancel the deposit request I send in over the weekend. XXXX XXXX XX/XX/XXXXXXXX Hi there, Im very sorry for any trouble with this. Im afraid transactions can not be cancelled once the bank transfer process has started as this is an external process. For future reference, for some payment methods there is a 5 minute window that exists after you initiate the transfer during which you can cancel it. You can do so by clicking on the transaction from your history page here : https : //www.coinbase.com/transfers Once your transfer completes, you could immediately initiate a withdrawal to have your funds returned to your bank account. Your funds would arrive back in your account within 3-5 business days. Please note that the expected arrival date of your funds is given on the Confirmation dialog prior to initiating the transfer. You would also have received an email confirming this information when you confirmed the transfer. Again, I apologize for the trouble. Thank you for using Coinbase. Kind regards, Coinbase Support XX/XX/XXXXXXXX I initiated a deposit and then wanted to cancel it. I informed by bank of this and they put a stop payment on it. This should explain the issues you all are seeing. So can we consider the deposit cancelled, and then allow me access to my account? XX/XX/XXXXXXXX My bank cancelled the deposit from their end for me using a stop payment, and now you all have locked my account. Can we call the deposit cancelled and allow me access to my account again? Or what is the deal with this? XXXX XXXX XXXX XX/XX/XXXX XXXX Hi, XXXX . Thank you for contacting Coinbase support. Ive taken a look at your account and it appears that you are not currently eligible to create a purchase order. This restriction may have been applied in error. Ive just escalated your case to our subject experts who will be completing a review of your purchasing eligibility shortly. You will receive a notification email if were able to restore your purchasing ability. Please note that while these reviews are typically completed within 4-5 business days, it can sometimes take longer depending on our current case volume. For security reasons, Coinbase can not guarantee eligibility for every account. If your account has experienced chargebacks in the past this, as an example, can impact your eligibility. Thank you for your patience and understanding as we complete this review. Should you have any other questions/concern, please feel free to contact us. Thank you for choosing Coinbase. Regards, XXXXXX/XX/XXXX XXXX I'm unable to login to XXXX as well, which is where all my funds are stored. I would like access to ETH withdrawals. I don't have a pressing need to purchase more. XXXX XX/XX/XXXX XXXX Hello there, Thanks for reaching out to Coinbase support. I apologize for the inconvenience this has caused you. Ive just checked your account and can confirm that your request has been properly escalated. For fastest response, please do not create multiple tickets about your issue. Once your request is cleared, well be sure to follow up. Thanks so much for your patience and for working with us on this. For more information or question please visit our support website : https : //support.coinbase.com to find the best answer real quick. Thank you for using Coinbase. Regards, XXXX Coinbase Customer Service Representative Case ID : XXXX Updated : XX/XX/XXXXXXXX PDT Created : XX/XX/XXXX XXXX PDT XXXX XXXX XX/XX/XXXXXXXX Hello, and thanks for reaching out. Ive taken a look at your account and it appears that you are not currently eligible to create a purchase order. This restriction may have been applied in error. Ive just escalated your case to our subject experts who will be completing a review of your purchasing eligibility shortly. You will receive a notification email if were able to restore your purchasing ability. Please note that while these reviews are typically completed within 4-5 business days, it can sometimes take longer depending on our current case volume. For security reasons, Coinbase can not guarantee eligibility for every account. If your account has experienced chargebacks in the past this, as an example, can impact your eligibility. Thank you for your patience and understanding as we complete this review. XX/XX/XXXXXXXX I'm not able to WITHDRAW any of my USD or ETH in XXXX , I'm also unable to view my trading records, so how am I supposed to do my taxes. Can you transfer my XXXX balances to my coinbase account? I need access to my money.
Company Response: Closed with explanation

Timely Response

2018-03-23

Flushing, NY

Money was not available when promised

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

Company Response: Closed with explanation

Timely Response

2018-03-23

Foothill Ranch, CA

Problem with customer service

Money transfer, virtual currency, or money service: Foreign currency exchange

Complaint: At or around XX/XX/XXXX, I purchased {$5000.00} bitcoin from coinbase using my atm debit card, not realizing I had a {$3000.00} spending limit. This transaction caused my account to be locked as my bank, XXXX, responding with NSF. The account was not unlocked even after the remaining balance was paid for 1 week. In the process of attempting to unlock the account, I wired {$10000.00} into the account and placed a stop payment as that also did not unlock the account. The account was unlocked around XX/XX/XXXX, and locked again around the XX/XX/XXXX. For two months they held more than {$17000.00} in my XXXX account. Coinbase and XXXX are the same company, one being an online wallet, and the other being a currency exchange. The money they said I owed, they already had enough to pay for it in an alternate account with them. The way they've reconciled the account has been to collect all remaining coins in my account and every other coin which has exceeded the XXXX they say i owe them. So while my account stayed locked, I've missed multiple opportunities to double and triple that money they held unduly restricted and made money off my money as stated in their terms and conditions. I would like my account unlocked immediately as this restriction of funds has caused a series of events that has led to serious financial hardships for myself and my XXXX kids.
Company Response: Closed with explanation

Timely Response

2018-03-23

Billerica, MA

Managing, opening, or closing your mobile wallet account

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

Complaint: I have been locked out of my account for almost 2 months now. I am unable to reach anyone to resolve this issue. I need access to my account to get transaction information so that I can file my taxes. I have called the customer service number repeatedly. They take down my information and then tell me my request has been escalated. However, the service people say that they have no information on the status of the issue and can only communicate with the technical support staff via email. I have also emailed numerous times. Now, they no longer respond to emails, but refer you to an application where you can submit your service request. When I access that, I need to be able to access my account to submit my request to get the problem resolved ... .so it is a dead e nd. I got an email response from a guy abo ut 2 weeks ago, saying he was sorry for the slow response and he would immediately address my issue. However, nothing has come of that and he does not respond to further requests for help. Again, at a minimum I need an acco unt transaction summary for XX/XX/XXXX... I can not file my federal taxes without it. I have contacted the Company both in writing ( email ) and by phone on the following dates : XX/XX/XXXX,XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX,XX/XX/XXXX - no action to date
Company Response: Closed with explanation

Timely Response

2018-03-22

IL

Money was not available when promised

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

Complaint: i Wired XXXX $ to XXXX/coinbase on XX/XX/2018. It was a same day wire and my bank confirmed to me that the recipient has got the money on their account. I called XXXX/coinbase customer support to confirm and they said that since i did not include the recipient message in my wire, the wire would be automatically returned to my bank account within 10 days and now it has been over 35 days and i still haven't got the money back in my bank account. Every time i call the XXXX support regarding this they give the same answer that my case has been escalated and i should get my money soon. I called the XXXX XXXX XXXX and they confirmed that funds were recieved and that they have to get instruction from coinbase to send my money back. I even gave my iban number to XXXX/coinbase so that they can track the wire. my case # XXXX my iban : XXXX
Company Response: Closed with explanation

Timely Response

2018-03-22

Portland, OR

Managing, opening, or closing your mobile wallet account

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

Complaint: Ive been locked out of my Coinbase account, and unable access all digital wallets. Ive called Coinbase multiple times, sent multiple emails, and am still unable to access my account.
Company Response: Closed with explanation

Timely Response

2018-03-22

Lk Buena Vis, FL

Money was not available when promised

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

Complaint: Coinbase strongly recommended using a 2 factor authentication method to protect my funds. One of the recommended " Authenticators '' was XXXX Authenticator. I configured the 2 factor authentication and everything worked fine until the phone on which I had XXXX Authenticator installed needed to be wiped due to a severe software problem. After the wipe, I could no longer use XXXX Authenticator. I followed Coinbase 's instructions do deactivate 2 factor authentication and these instructions failed. A ticket was opened in early XX/XX/XXXX and I still have no access to my account. Last I was able to look I had over {$6000.00} in various coins but I still have no access to my account. In the meantime the currencies have fluctuated wildly and I have been unable to liquidate.
Company Response: Closed with explanation

Timely Response

2018-03-21

San Diego, CA

Money was not available when promised

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

Complaint: I initiated a funds transfer ( ACH ) out of the account ( Coinbase/GDAX ) on XXXX XXXX - XX/XX/2018 UTC for the amount of {$10000.00}. ( Transfer ID : XXXX ) ( Case # XXXX ) It has been 3 weeks to date. I have had multiple phone calls and multiple emails, with basically no information. All that was said, is that " a specialist is looking into it. '' The emails were exchanged around XX/XX/2018. ( no information ) I have a record of them. I have made 3 phone calls to Coinbase support over the past 3 weeks with no information given. My bank, XXXX has not received the funds yet. XXXX XXXX
Company Response: Closed with explanation

Timely Response

2018-03-21

Sugar Land, TX

Money was not available when promised

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

Company Response: Closed with explanation

Timely Response

2018-03-21

Rocky Ridge, MD

Money was not available when promised

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

Complaint: On XX/XX/2018 I initiated a wire withdrawal of {$25000.00} from my account at Coinbase to my US-based private investment account. There is no evidence whatsoever that Coinbase made any attempt whatsoever to initiate the wire, despite the best efforts by me and my very capable financial advisor to look for it, but Coinbase nevertheless debited my account {$25000.00} and have failed to respond to customer service requests with anything other than automated responses that are not even pertinent to my issue. On one occasion they had the gaul to close my customer support ticket for no apparent reason. After I reopened my support ticket that they had closed, they asked me to provide information that I had already provided. I nevertheless provided ( again ) all of the information that they requested. That was 8 days ago, and there has so far been no further response from them. Many others have been reporting similar problems with Coinbase on social media for months. This fact, coupled with the recent publication of a Coinbase bug that made it possible for unscrupulous users to credit their Coinbase accounts with unlimited ether, should prompt the CFPB to question the solvency of Coinbase.
Company Response: Closed with explanation

Timely Response

2018-03-21

Fraud or scam

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

Company Response: Closed with explanation

Timely Response

2018-03-21

Gibsonton, FL

Other service problem

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

Company Response: Closed with explanation

Timely Response

2018-03-21

Greenwood, CA

Money was not available when promised

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

Complaint: I wire transfered {$5900.00} to my USD account of Coinbase in XX/XX/2018. Then, My coinbase account has been locked until I can complete the identity verification, which includes my name, DOB, personal address, my occupation and last four of my SSN. Since then, I can't buy, sell, withdraw money, or even close my Coinbase account. The reason Coinbase gave me is that they need to verify my Personal Information and SSN. So I verified my CA Driver Licence and tried several permutations over 2 months and failed over and over because Coinbase says my ID can not be located. Then I requested to close my Coinbase account for getting my money back but failed to close the account. I have sent several emails and submitted many requests and the customer support did nothing and even disappeared after I showed my account 's problem. I still have that {$5900.00} locked up in my Coinbase account and can't touch or withdraw it.
Company Response: Closed with explanation

Timely Response