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 21
2018-03-21
CT
Problem with a lender or other company charging your account
Checking or savings account: Checking account
Transaction was not authorized
Complaint: On XX/XX/2018 I was charged {$230.00} from my personal checking account. This charge was not authorized and is a duplicate of a legitimate charge of {$230.00} on XX/XX/2018. I contacted Coinbase to request my money be refunded wherein they said it would take up to 10 days to be refunded by my bank. No refund appeared in my account and the erroneous charge was not wiped out. I contacted my bank who said this is an issue between me and the merchant. Over a month later and the {$230.00} is still missing from my account.
Company Response: Closed with explanation
2018-03-20
Nyc, NY
Other service problem
Money transfer, virtual currency, or money service: Virtual currency
Complaint: My COINBASE account was on " temporarily disabled " on XX/XX/2017 with the message " Sorry, account temporarily disabled. " Please contact support. I emailed immediately to have the issue resolved and had a follow up email the same day letting me know it was in process. For the next 3 months i had emailed them back and forth trying to get access to my money and account always receiving the same generated email providing steps for account recovery that didn't work. I called many times only to wait on hold for multiple hours and on the few occasions that the phone was answered they were quick to hang up on me. I am still locked out, my account has devalued tremendously and I can't get the little that remains. I know many have had the same issue. Please help!
Company Response: Closed with explanation
2018-03-20
Naperville, IL
Other transaction problem
Money transfer, virtual currency, or money service: Virtual currency
Company Response: Closed with explanation
2018-03-20
Other transaction problem
Money transfer, virtual currency, or money service: Virtual currency
Company Response: Closed with explanation
2018-03-20
Other transaction problem
Money transfer, virtual currency, or money service: Virtual currency
Complaint: Hi there, This issue is one Coinbase 's priority issues ( delayed payments ). When I changed my phone number associated with my Coinbase account in XX/XX/XXXX, my pending transactions to buy Ethereum and Bitcoin got cancelled. I did not receive the cryptocurrency, and I did not receive a refund. I was supposed to receive my refund for two transactions that have been cancelled within 3-4 business days according to the E-mail I received, but after > 3 months, I have not received anything.
The transactions that were cancelled were : - OnXX/XX/XXXX, I ordered XXXX BTC for {$500.00} USD.
- On XX/XX/XXXX, I ordered XXXX ETH for {$500.00} USD.
These transactions have taken money from my bank account, but has not yet been refunded. I have emailed Coinbase Customer support many times, and I have yet to receive any help. I was told a " specialist '' would be looking into it months ago, but I have been emailing them since about it, with no response.
Thanks!
Company Response: Closed with explanation
2018-03-20
Philatelic Center, CA
Other transaction problem
Money transfer, virtual currency, or money service: Virtual currency
Complaint: On XX/XX/XXXX I made multiple purchases of Bitcoin from the XXXX online cryptocurrency trading platform. The purchases were made from my Fiance 's bank account in the following order : ( 1 ) {$700.00} ( 2 ) {$1800.00} ( 3 ) {$3000.00}, the third purchase for {$3000.00} was doubled charged to our account due to an error with XXXX and Coinbase ( XXXX has since taken responsibility for the double charges but Coinbase has not refunded me as I will get to. ) By the end of XX/XX/XXXX, {$5500.00} worth of Bitcoin was credited to my account with Coinbase. However, {$8500.00} was charged to our bank account indicating there was a double charge of {$3000.00}.
The Following day, XX/XX/XXXX two more purchases of Bitcoin were made of {$2500.00} & {$4300.00} while still unaware of the previous day 's double charge.
Our total investment was a total of {$12000.00} that was showing in the Coinbase platform. However, we were charged {$15000.00} to our bank. After roughly two weeks of waiting for the return of our money, we contacted our bank and on XX/XX/XXXX {$3000.00} was returned to our account.
Unfortunately, the following day Coinbase shut down my buying or selling options with a notice that they were owed {$3000.00}. My hope was that they would realize this was the amount of the double charge. On XX/XX/XXXX, Coinbase transferred {$3000.00} of Bitcoin out of my wallet and then charged me a {$44.00} transfer fee. All of this transpired and they did not notify me that money was taken out of my wallet or that I was charged a fee. Now, essentially the double charge has gone back into effect. Coinbase has responded with emails to my inquiries but not with any detail of how they will solve the issue, only that " we are having a specialist reviewing the case. '' The double charge took place 42 days ago, Coinbase withdrew {$3000.00} dollars from my wallet 26 days ago. How is it acceptable for this much time to pass and not have the problem solved yet.
Company Response: Closed with explanation
2018-03-20
Rollingstone, MN
Other transaction problem
Money transfer, virtual currency, or money service: Virtual currency
Complaint: On XX/XX/2018 I withdrew XXXX from my XXXX account and transferred it to Coinbase.
I should have changed the coins back to bitcoin before transferring, I know it was my mistake. It was {$9200.00}.
I contacted XXXX and they said there was nothing they can do because the funds left there and went to a coinbase address.
I contacted coinbase and here is the response I got back from them.
Good day!
Thanks for hanging in there while we investigated this case.
Prior support personnel were correct in their assessment. Under no circumstances is anyone encouraged or allowed to send digital currency that is not accepted by XXXX, as these funds will be not be capable of being retrieved.
For more info feel free to peruse here. XXXX XXXX XXXX XXXX My apologies that there isnt more we can do.
Have a great day, and thanks for using Coinbase!
XXXX Coinbase Support I contacted XXXX XXXX ( the coins I sent ) and they said they would work with Coinbase on retrieving the funds.
This is the response I got from tether who said they would help, but coinbase still refused to pull back the funds.
Dear Coinbase support, I have unfortunately accidentally transferred XXXX USD to my Coinbase address XXXX Unfortunately while you may not directly support these funds they are still now owned/controlled by this address you control. The XXXX team is more than willing to work with you on the recovery process if you will work with them. Can you please reach out to their representative at XXXX for additional information on how to recover and return the funds.
Sincerely,
Company Response: Closed with explanation
2018-03-19
Other service problem
Money transfer, virtual currency, or money service: Virtual currency
Complaint: My account with Coinbase has been " temporarily disabled '' since XX/XX/2018.
My account was frozen by Coinbase after I reported a 3rd party was attempting to access my account.
In the last 4 weeks I have emailed and called on numerous occasions, trying to have this restriction removed. Support staff keep telling me " specialists '' are looking at my case. Apparently these " specialists '' only operate via email and the support staff has no way to contact them.
I have several thousand dollars being held captive by Coinbase and I feel nothing is being done to resolve my issue.
Company Response: Closed with explanation
2018-03-19
Superstition Mtn, AZ
Managing, opening, or closing your mobile wallet account
Money transfer, virtual currency, or money service: Mobile or digital wallet
Complaint: On XX/XX/, I deposited {$5000.00} into my Coinbase account. On XX/XX/XXXX, I attempted to withdraw the same {$5000.00}, but was only allowed to withdraw {$3000.00} without further identity verification. I attempted to verify my identity, but Coinbase 's third-party verification system " could not locate my ID. '' I contacted Coinbase on XX/XX/ and was instructed to attempt different variations of my personal information. After many more attempts this was also unsuccessful. I again contacted Coinbase on XX/XX/ and explained that I continued to have issues with their verification system. I further explained that this was mostly likely due to my status as a XXXX XXXX XXXX since my personal identifying information has been blocked/removed from public records. The only solution Coinbase provided was to keep trying. My identity will never be able to be verified using traditional third-party methods and Coinbase is holding my funds hostage without providing an alternative verification method.
Company Response: Closed with explanation
2018-03-19
Mountain View, CA
Money was not available when promised
Money transfer, virtual currency, or money service: Domestic (US) money transfer
Company Response: Closed with explanation
2018-03-19
Managing, opening, or closing your mobile wallet account
Money transfer, virtual currency, or money service: Mobile or digital wallet
Company Response: Closed with explanation
2018-03-19
San Francisco, CA
Money was not available when promised
Money transfer, virtual currency, or money service: Domestic (US) money transfer
Company Response: Closed with explanation
2018-03-19
Money was not available when promised
Money transfer, virtual currency, or money service: Virtual currency
Complaint: Coinbase Inc. disabled buys and my login without any warning or due cause. Despite numerous emails and calls, no action has been taken and all my assets and money are locked out from me for absolutely no valid reason. They just send me a generic email ( probably generated by a computer bot ) that my case has been " escalated ''. I am not the only one and the internet is full of horror stories of Coinbase which has locked people 's money for no reason.
I have around XXXX ETH tokens and XXXX BITCOIN Cash tokens that I have been holding with Coinbase. They assigned me a case number # XXXX.
I have been trying to get a reply from them since the XX/XX/2018.
Company Response: Closed with explanation
2018-03-18
Glendale, CO
Fraud or scam
Money transfer, virtual currency, or money service: Virtual currency
Complaint: I withdrew {$190.00} from my US Dollar wallet on Coinbase on XX/XX/XXXX at XXXX XXXX. I was told through their online system that it would arrive within 3-5 business days. Today is XX/XX/XXXX and still no deposit into my bank account. I contacted their customer support and was told it is completed on their end. They easily and quickly take money from my bank account and then lie about returning it. I'm not the only one experiencing this issue. I've also created a reddit post where others have complained about the same issue.
Company Response: Closed with explanation
2018-03-17
South Florida, FL
Wrong amount charged or received
Money transfer, virtual currency, or money service: Virtual currency
Complaint: I am writing this email in regard to the coinbase class action lawsuit pertaining to the miserably failed launch of the BCH USD Trading pair on Coinbase / XXXX. I lost funds during the debacle and would like to know how it would be possible to become a part of the lawsuit. I wrote several emails to XXXX support and was hung up on twice by support staff when they refused to answer my questions. They even referred me to a " rule '' in their terms of service stating that they could halt trading on the exchange as they seemed fit, this rule was added AFTER they screwed up the BCH launch.
This is an excerpt from the message sent to them : " I placed an accidental buy market order on BCH instead of XXXX with all the funds available in my account ( Approximately {$12000.00} ). This was my mistake, yes. Had it occured on a normally traded pair such as LTCUSD or ETHUSD, I would not have minded the slight loss of my error. Not even a half a second after I realized my mistake, I attempted to sell out and XXXX halted trading knowing full well that over 2k BCH had been sold and bought at manipulated prices.
When trading opened today at XXXX PST, I frantically attempted to sell in order to salvage what was left of my funds and managed to cash out at ( XXXX XXXX ) which left my account at {$6600.00} for a Total loss of {$5700.00}. All because of a failure to make sure there was enough liquidity in the books before opening a new trading pair. ''
Company Response: Closed with explanation
2018-03-17
Other service problem
Money transfer, virtual currency, or money service: Virtual currency
Company Response: Closed with explanation
2018-03-17
Burien, WA
Other service problem
Money transfer, virtual currency, or money service: Virtual currency
Company Response: Closed with explanation
2018-03-17
Columbus, OH
Other transaction problem
Money transfer, virtual currency, or money service: Virtual currency
Complaint: I had been investing in XXXX on coinbase. On XX/XX/XXXX I saw my checking account had been charged 4 transactions. 2 for {$200.00} and 2 for {$100.00} from coinbase. I looked at my account on coinbase and no currency had been added to my account, it was only a debit from my checking. I called my bank and reported the charges. The next day XX/XX/XXXX, they were credited back and my checking account and my coinbase account were where they should be. On XX/XX/XXXX I got an email stating because of the reversal by my bank they were taking the funds back. They then withdrew those same 4 amounts from my coinbase account leaving me with nothing. I have had multiple contactys both by phone and their email support and I get the same answer that they will assign to specialist and no one ever follows up with me. Ever.
Company Response: Closed with explanation
2018-03-17
IA
Money was not available when promised
Money transfer, virtual currency, or money service: Virtual currency
Complaint: I have opened a Coinbase account last year and had go through a few transactions before it was unabled. Previously, I still able to withdraw, deposit and buy from the account. However, since last XX/XX/2017, I faced this issue for not able to do anything with the account such as buying, withdrawing and depositing. I just want the money to be out from that account so that I could pay for my expenses. I have contacted Coinbase support team so many times, and they told me to wait until the Specialist looked over my case. They even say I was at the highest priority level but until today, they still have not solve my issue. I also saw many comments about the same issue in XXXX and have posted my issue there. Also, I sent several personal message to the coinbase staff through XXXX since they did replied to some of the comments in the post. Unfortunately, no one response to me. This issue has been up for more than 5 months since last year and I really want it to be solve.
Company Response: Closed with explanation
2018-03-17
Managing, opening, or closing your mobile wallet account
Money transfer, virtual currency, or money service: Mobile or digital wallet
Company Response: Closed with explanation
2018-03-17
San Diego, CA
Other transaction problem
Money transfer, virtual currency, or money service: Virtual currency
Company Response: Closed with explanation
2018-03-16
Chicago, IL
Money was not available when promised
Money transfer, virtual currency, or money service: Domestic (US) money transfer
Complaint: I wired {$22000.00} to my Coinbase/XXXX account on XX/XX/2018. I sent the funds before XXXX XXXX time, which means the funds should post to my account the same day. It has now been a month and my funds still havent appeared. I have made MULTIPLE phone calls to Coinbase/XXXX, I have also sent NUMEROUS emails as well to no avail. I am literally at my wits end because this isnt a small amount of money and there is no reason why my funds arent yet available. CFPB PLEASE HELP ME
Company Response: Closed with explanation
2018-03-16
Hinsdale, IL
Managing, opening, or closing your mobile wallet account
Money transfer, virtual currency, or money service: Mobile or digital wallet
Complaint: I opened an account with coinbase in order to purchase and store bitcoins. After purchasing bitcoins, I was able to safely store them in a digital wallet and, more securely, in a digital vault.
In order to verify withdrawal transactions from the vault that I had created, I was asked to list a secondary e-mail address as confirmation. I have since lost access to this secondary e-mail address and have not been able to withdrawal my funds from the digital vault to my digital wallet on coinbase.
I have e-mailed them numerous times asking if this issue can be resolved. In reply, I was told that they would be able to safely transfer my funds from my vault to my wallet and that they were working on the issue. It has been over 3 months now and I am still waiting for them to resolve this issue.
Company Response: Closed with explanation
2018-03-16
Rochdale, NY
Trouble using your card
Credit card or prepaid card: General-purpose credit card or charge card
Can't use card to make purchases
Complaint: I was sent unauthorized charges due to an XXXX error on XXXX 's behalf.
Disputed the charges, resolved the issue.
Due to the issue, I unlinked my card and closed my account in order to not have any more charges sent.
Figured coinbase issues were solved so I sign up, verify identity, payment info ... and they will not unblock me to make purchases. I submitted tickets and were told I'd receive a message back in a few days with no response.
Company Response: Closed with explanation
2018-03-16
San Antonio, TX
Fraud or scam
Money transfer, virtual currency, or money service: Domestic (US) money transfer
Complaint: In XX/XX/XXXX, I established an account with Coinbase, Inc in order to buy and sell cryptocurrency on the XXXX exchange available on their website.
On XX/XX/XXXX, I complied with Coinbase 's instructions ( from their website ) for wiring funds domestically from my personal bank account into my Coinbase account. Specifically, on XX/XX/XXXX, I visited my bank XXXX XXXX XXXX XXXX XXXX XXXX XXXX and initiated a wire transfer in the amount of {$37000.00} from my XXXX XXXX XXXX XXXX XXXX bank account into the designated bank account for Coinbase ( per their wiring instructions ). The wiring instructions on the Coinbase website listed their bank account number as XXXX and their bank routing number is XXXX. I also included the reference code " XXXX '' in my wire transfer, as directed by the Coinbase website wiring instructions. My domestic wire transfer in the amount of {$37000.00} was completed on XX/XX/XXXX.
After accessing my Coinbase account about a week and a half later, I was shocked to learn that none of these funds were ever credited to my Coinbase account even though the entire {$37000.00} was transferred out of my personal bank account. I called XXXX XXXX XXXX XXXX XXXX and was provided with an XXXX number confirming that my {$37000.00} was successfully transferred from my personal bank account into the bank account designated by Coinbase. This IMAD number is XXXX.
My attempts to contact Coinbase in XXXX by phone failed because their answering service stated that they can not resolve wire transfers over the phone. In addition, when I called a second time in an attempt to speak to a person, I waited on the phone on hold for over an hour before giving up.
In response to a complaint I filed with Coinbase Case ( which Coinbase regarded as Case # XXXX ), I received a generalized email from their support staff on XX/XX/XXXX stating in part that " Bank wires will be automatically credited to your account when received. '' In response, I checked my Coinbase account and surprisingly did not see any funds credited to my account. I then replied on to Coinbase Support on XX/XX/XXXX complaining that I still have an outstanding issue with my {$37000.00} bank wire initiated on XX/XX/XXXX.
On XX/XX/XXXX, Coinbase Support emailed me back and stated in part that " From this end, it appears that your transaction has now been verified and you should be all set. '' After checking my Coinbase account and again not seeing any credited funds, I replied via email on XX/XX/XXXX complaining that " This issue has not been resolved. The {$37000.00} that I wired to Coinbase over 4 weeks ago has not been placed into my Coinbase account. '' In this email to Coinbase Support, I also attached a printed receipt verifying the wire transfer, I provided the XXXX number, and I also attached a screen-shot of my Coinbase account revealing no transactions relating to the wire transfer.
On XX/XX/XXXX, Coinbase Support emailed me stating in part " Having investigated the issue, I am working with a specialist to address it properly. We will follow-up with you as soon as we have an update. '' I emailed Coinbase Support on XX/XX/XXXX, stating that the " {$37000.00} wire deposit into my account has not been resolved. I just checked my account and there is still a zero balance. I have just verified that my money has not been placed into my account. '' As of XX/XX/XXXX, Coinbase failed to follow-up with an update. Therefore, I emailed Coinbase Support complaining that it has been over 6 weeks since the wire transfer and demanding they grant me access to my {$37000.00}.
As of XX/XX/XXXX, Coinbase still failed to follow-up with an update. I emailed them on this date stating again that the funds were deducted from my XXXX bank account but were never placed into my Coinbase account. I also provided my XXXX number again. In this email, I characterized Coinbase Support 's statements to me as " misrepresentations '' wherein they claimed my transaction has been verified and the money is set up. In this email, I warned that further failure to provide me access to my money would result in a complaint to the Consumer Financial Protection Board.
On XX/XX/XXXX, in a very generalized email, Coinbase Support emailed me with apologies for the delayed response and an excuse that they have received a significantly increased number of requests recently.
As of the time of the drafting of this complaint XXXX XXXX, XXXX XXXX, I checked my Coinbase account only to learn that none of the {$37000.00} wired to Coinbase 's bank account have ever been credited to my Coinbase account. In addition, my wired funds in the amount of {$37000.00} were never returned to my personal XXXX XXXX XXXX XXXX XXXX bank account.
On their website, Coinbase states that wire deposits will typically arrive within 1-2 days, and Coinbase also states " Bank wires will be automatically credited to your account when received. '' On their Coinbase Support page in XX/XX/XXXX, they declared outgoing wire delays but that " Deposits via wire transfer are not currently delayed. '' No such degraded service announcements exist on their support page as of today. In the unlikely event I somehow made an error in the wire transfer, the Coinbase website explains that " Wires not meeting this criteria will be returned to the originating account after several business days. '' By all accounts, Coinbase , Inc has received my {$37000.00} and refused/failed to either credit my Coinbase account or return my money to my originating bank account at XXXX. Their representations about the transaction being verified and the funds set up are erroneous and fraudulent. Their promises to look into this and follow-up with me with updates are equally false and fraudulent. Based on their action and inaction, I believe Coinbase, Inc has no intention of granting me access to my money as promised and has scammed me out of {$37000.00}
Company Response: Closed with explanation