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 23
2018-03-13
Other service problem
Money transfer, virtual currency, or money service: Virtual currency
Company Response: Closed with explanation
2018-03-12
Chestnut Street, IL
Unauthorized transactions or other transaction problem
Money transfer, virtual currency, or money service: Mobile or digital wallet
Company Response: Closed with explanation
2018-03-12
PA
Money was not available when promised
Money transfer, virtual currency, or money service: Virtual currency
Complaint: Coinbase.com, who also owns XXXX froze my account on XX/XX/XXXXafter a payment was reversed for cryptocurrency I was trying to buy ( picture attached ). The original Coinbase reference code to this issue was XXXX.
I reached out to customer service to have my account unfrozen after the failed transaction would taken care of and was quoted 5 business days to get it fixed. I have had absolutely no information from Coinbase since the date of the issue and absolutely no contact sinceXX/XX/XXXX.
After absolutely no contact, I reached out to try to have my case escalated and it was apparently " escalated '' after having no contact well past the given timeframe.
I have called Coinbase directly 10+ times and given absolutely no additional information or support, and told there is absolutely no supervisor or other person I can talk to beyond the customer support agents that pick up.
My Coinbase and XXXX accounts have been locked with funds in them since XX/XX/XXXX. I have experienced a HUGE opportunity cost because my entire portfolio is frozen and I've been given absolutely no options or support - they also refuse to give any sort of timeframe to resolve this.
At the time of writing this, they have held my entire portfolio for 45 days with absolutely no contact and refusal to offer me any solution when I contact them.
Company Response: Closed with explanation
2018-03-12
Glendale, CA
Fraud or scam
Money transfer, virtual currency, or money service: Mobile or digital wallet
Complaint: Hello, I have transferred some funds to COINBASE AND XXXX to purchase Bitcoins and Ethereum over 5 weeks ago.
Due to some computer XXXX ( according to COINBASE ) my account was flagged and as a result My account was frozen with all my Coins in the account.
I have contacted them NUMEROUS Times Via E-mail and Phone calls and all I'm getting is that a specialist will be in touch with me to resolve my issues and unfreeze my account.
I have been patiently waiting for them to address my issue, but so far I have not been able to get a hold of anybody that can resolve this situation.
Meanwhile, I have missed several opportunities to make profitable investments, and also I can not withdraw my coins or Money to transfer to a different exchange.
Please help me resolve this issue as ( being a Single mom with single income ) I can not afford to have money stock in a frozen account for absolutely no Legit reason.
Thank you so much XXXX XXXX
Company Response: Closed with explanation
2018-03-12
VA
Fraud or scam
Money transfer, virtual currency, or money service: Mobile or digital wallet
Complaint: I am currently attempting to withdraw {$4100.00} USD from my coinbase.com account and and am being blocked. I have no trouble adding funds to my account, but when it comes time to withdraw money it says my ID is not verified and rejects it when I attempt to verify my ID ( even though I am already verified ) and will not tell me what part is wrong. For some odd reason I was able to withdraw a portion of it earlier this week ( {$1800.00} ), but it blocks anymore.
Customer service simply replies with an FAQ email. It does not resolve the issue that I have thousands of dollars in coinbase that I am unable to withdraw. The customer service phone line refuses to help with ID issues.
I have been a verified user of coinbase since 2013. My bank accounts and ID were previously verified. I am left with no course of action to follow to get my money out of coinbase.com
Company Response: Closed with explanation
2018-03-12
NJ
Fraud or scam
Money transfer, virtual currency, or money service: Virtual currency
Complaint: Coinbase fraudulently transferred moiney in the form of bitcoins valued at {$4300.00} on XXXX XXXX 2018 out of my account to coinbase, the trading exchange.
I get a message on my phone which states " XXXX coins worth {$4300.00} sent to coinbase '' I never initiated or authorized it nor my account was not compromised. I have all logintimes and 2FA set up.
Coinbase needs to answer why did they siphon out the coin from my account for no reason and pay me back the coin with fines as I lost asset value as well as the principle amount.
I complained several times to them and all they do is send me FAQs to secure account, lock up my account.They never answer who initiated the transfer to coinbase which is them and what is meant by the message.
Also I did not get a confirmation email for the same.
This is a fraud perpetrated by the company against small investors and since we do not have a voice, they do not have adequate support staff to answer and they lock our account, making us suffer losses as well as mental agony.
Such fraudulent companies must not be let to operate as they find loopholes to suck out money from our legitimate accounts and give no explanation.
They seem to have no Risk management or processes in place and scant regard for small consumers as we have no voice.
http : //support.coinbase.com/XXXX
Company Response: Closed with explanation
2018-03-12
Spring Hill, FL
Other service problem
Money transfer, virtual currency, or money service: Virtual currency
Complaint: Coinbase - Unable to access funds I opened account Coinbase and thier exchange XXXX on XX/XX/18 and deposited ~XXXX usd and purchased virtual currency.
On XX/XX/18 I received a text from Coinbase that my auth has been changed from XXXX XXXX to XXXX XXXX and to reply if I did not initiate the change. I replied and received an email questionairre.
Today is XX/XX/18 and my account has been locked for 3 weeks. Coinbase will not return my funds or unlock the account. They continue to say they are looking into the matter.
I have contacted coinbase a number of times and they will not resolve or even give an ETA.
Careful using this service. As soon as my funds are back I will never use again.
Company Response: Closed with explanation
2018-03-12
Nyc, NY
Money was not available when promised
Money transfer, virtual currency, or money service: Virtual currency
Company Response: Closed with explanation
2018-03-12
Soquel, CA
Fraud or scam
Money transfer, virtual currency, or money service: Virtual currency
Complaint: On XX/XX/XXXX I sold {$4000.00} worth o BitCoin on Coinbase. Upon completing my sale using my New XXXX XXXX XXXX I was unable to access my account. My XXXX XXXX had not yet been installed for my authenticator application since I had misplaced it. After completing the sale I called Coinbase support immediately per the instruction on their website which specifically stipulate it takes 48hours to have your seed key reissued. After sitting omn hold for two hours I spoke to a representative in the Coinbase customer support center and was assured my issue would be escalated.
The primary problem I faced and need to access my account was the bank account on file was no longer valid anf needed to be updated. The way Coinbase works is upon a sale your money will transfer to the bank account on file within 4 business days. In. theory I had plenty of time to fix the proble XX/XX/XXXX fell on a Friday and the following Monday was XX/XX/XXXX. Therefore my money would not transfer until Thursday. On Tuesday after not having received any notice to update with the seed key reset, I called Coinbase back to express my concern and they hung up the phone on. me. I called back and they were rude once more and hung up again. I called back a third time and expressed I had already been the victim of ID theft and was afraid that not having specialist fix my problem would expose me to more fraud. and loss they hung up on me again and XXXX me they had " ESCALATED '' the case to a specialist.
acc On XX/XX/XXXX the Wednesday after mh sale I found my XXXX and was able to access my account. I proceeded to update my banking info with out an issue. And confirmed why account per the Coinbase protocol and deleted the old one. I then called hem back to confirm and was told my transfer to my bank would happen the next morning n as planned anf be directed into the new account ....
The Next morning nothing was wired to me so I called Coinbase back and spoke to support. while on the phone with support I saw my Coinbase balance had been sent somewhere, since the customer support team is unable to help in any many other then telling me they would escalate my case my entire account had been cleaed. out. That day and into the next morning, I watched as my account was used to purchase and transfer another XXXX, from my checking account into coinbase to effect more purchases orf BtC and transfers that were not authorized or executed by me ....
I called coinbase back and told them my account was hacked on their end and that they had stolen XXXX additional dollars from my checking account ... THEY DID NOTHING AS THEY SAID DID NOT LOC K MY ACCOUNT DOWN..
This transpired on the XX/XX/XXXX. After following up with Coinbase for the next 7 days straight. I finally had a representative lock my account down yet no one could tell me when and how I would get my money back.. The answer each time is they have escalated the case ....
Its now been over 1 month and I am still yet to hear back from XXXX with respect to my initial complaint.. I about close to {$12000.00} and I can't get anyone to return my call or my money ... Since I did not hold any BitCoin in my account I have told them that my cash would need to be replaced since they are covered under FDIC guidelines that protect against fraud and that the fraud occurred in the their bank account ...
The money that is missing was income I earned fro services rendered to my clients. I am now unable to pay all my bills and facing an eviction due to this ...
Company Response: Closed with explanation
2018-03-12
Jersey City, NJ
Managing, opening, or closing your mobile wallet account
Money transfer, virtual currency, or money service: Mobile or digital wallet
Complaint: With XXXXBTC in my XXXX account, I requested an increase in my daily limit transfer so I could engage in arbitrage. My account was closed in early XX/XX/2018. I emailed them for a reason. They replied that I wasn't XXXX yet. I ( re ) submitted my identification docs to show that I am. They replied that the account was closed for other reasons, that they couldn't disclose. I have asked that my account be reopened but have gotten only emails in reply asking how satisfied I am with the resolution of my case.
Company Response: Closed with explanation
2018-03-12
Boston, MA
Money was not available when promised
Money transfer, virtual currency, or money service: Virtual currency
Company Response: Closed with explanation
2018-03-12
PA
Fraud or scam
Money transfer, virtual currency, or money service: Virtual currency
Complaint: XXXX is not transferring my money to my new account. It has been over a month and they are not responding. I can only assume they are taking my money.
Company Response: Closed with explanation
2018-03-12
Sun City, AZ
Problem adding money
Money transfer, virtual currency, or money service: Mobile or digital wallet
Company Response: Closed with explanation
2018-03-12
Hack, NJ
Other transaction problem
Money transfer, virtual currency, or money service: Domestic (US) money transfer
Company Response: Closed with explanation
2018-03-12
Frisco, TX
Money was not available when promised
Money transfer, virtual currency, or money service: Virtual currency
Company Response: Closed with explanation
2018-03-12
West Branch, NY
Problem with a lender or other company charging your account
Checking or savings account: Checking account
Transaction was not authorized
Company Response: Closed with explanation
2018-03-12
Nyc, NY
Fraud or scam
Money transfer, virtual currency, or money service: Virtual currency
Complaint: Hello, I am here to report CoinBase because I don't see any other way of resolving this. So I am a XXXX XXXX XXXX and make a living off XXXX. I enter trades on a daily basis and just like any other day I got on XXXX ( the trading platform for Coinbase ) and entered and position which I was roughly planning on spending a couple of hours in. The following day, XX/XX/2018 I am told that my XXXX is temporarily suspended. After opening a few support tickets and calling them, I get an answer saying my account has been suspended due to a system error on their end and within 4 business days a specialist should review my account and allow me to trade again. Fast forward to today, XX/XX/2018 it has now been over 2 months and they now have stopped answering any of my support tickets and over the phone they only give generic answers and claim there is no supervisor or manager I can speak to. I can provide any type of proof of emails, claims, or anything you may need. The reason I stressed to them that this is a time sensitive issue, is that I'm in an active position, rather than sitting in FIAT ( USD ). This can also be seen as market manipulation and refusing to let me sell, let alone withdraw my funds. I have also participated in XXXX threads where there are thousands of angry customers with similar issues all helpless and not knowing to they can ask for help.
Company Response: Closed with explanation
2018-03-12
San Francisco, CA
Managing, opening, or closing your mobile wallet account
Money transfer, virtual currency, or money service: Mobile or digital wallet
Complaint: Hi, I accidentally sent XXXX electrify XXXX tokens to a XXXX address that XXXX uses for my account for ethereum token transfers. XXXX.
Once those tokens were sent and in Coinbases possession then XXXXoinbase decided to not return them to me. They are the only owners of those private keys and could return the tokens to me if they chose to, but they choose not to because it would be work for them to manually send the money back. This is over {$1200.00} in value lost to me.
I'm simply asking them to refund the tokens to the address that they came from : XXXX Their response : " Unfortunately, our key-signing mechanism is not equipped to handle alt-coins or tokens that run on top of digital currencies such as bitcoin or ethereum. The security and integrity of our private keys is of the utmost importance to us. As a result, the specific private keys associated with an address are not available to any single person. Due to the inherent security risks involved with accessing specific private keys, it is not possible for our support team to recover funds sent to a Coinbase wallet in this way. '' This tells me that they haven't given their support staff the ability to help customers retreive their funds and instead choose to keep accidental funds sent to them instead of manually returning the money to it's rightful owner. This should be illegal to keep money that isn't theirs and refuse to help.
Thank you for your help, XXXX XXXX
Company Response: Closed with explanation
2018-03-12
Unexpected or other fees
Money transfer, virtual currency, or money service: Virtual currency
Complaint: Hi, My name is XXXX XXXX one of the user of CoinBAse.
i had participated one of the ICO ( initial coin offering ) from XXXX. And I had transferred XXXXETH and Tx status is succesfull.
As per the etherscan it is showing that COINBASE had recieved XXXX tokens to their coinbase wallet. However COINBASE team is not helping to send it over to my personal etherwallet.
After doing proper research over internet, there are plenty of users with such an incident.
Please help me to get my hard earned money back to me.
Regards XXXX M
Company Response: Closed with explanation
2018-03-11
Fraud or scam
Money transfer, virtual currency, or money service: Virtual currency
Complaint: On XX/XX/2018, a company has sent me XXXX Ethereum XXXX XXXX token to my ethereum wallet on coinbase. There were no warnings at all that this transaction could not be undertaken on the account page of the website and the only little caveat was on a support page where by definition people only go if they need support.
Despite advertising the wallet as owned by user, Coinbase doesn't now allow me to access or move the funds which have peaked at a value of $ XXXX since then.
Appreciating that coinbase isn't willing to give users private keys necessary to move funds I have therefore asked on the same date XX/XX/2018 to just return the ether with tokens back to the sender.
After multiple calls to the call centre where support team confirmed the issue would be resolved by a special team, on the XX/XX/XXXX ( over two months later ) coinbase replied saying that it was technically doable but complex so money would not be returned which doesn't seem a very professional answer from a regulated company.
I have called the support team and I was now told that there is a disclaimer on the account page to warn people against using it for tokens. While I appreciate coinbase is trying to fix this issue going forward this wasn't displayed at the time of transaction ( I have a screenshot available if required ).
Interestingly I was unable to escalate the complaint internally and I was refused any advice on how to complain further with external regulator.
As coinbase today still stores my asset whitin its wallets, not returning this to me it's a fraudlent activity classified as wrongfully retained credit.
Company Response: Closed with explanation
2018-03-11
Jupiter, FL
Money was not available when promised
Money transfer, virtual currency, or money service: Virtual currency
Complaint: I sold Litecoin and Ethereum on Coinbase on XX/XX/2018. I sold {$30.00} Ethereum and {$53.00} Litecoin. Both amounts were supposed to go into my XXXX XXXX account ending in XXXX about a week after XX/XX/XXXX. It has been almost a month and I have not received any money. I contacted my bank and they said they have not received any deposits from Coinbase. They told me to contact Coinbase and tell them to file a claim. Coinbase told me they will look into it and put a " specialist '' on my case. I have not heard from them at all. I have proof of all transactions and proof I have not received my money. Thank you for your help.
Company Response: Closed with explanation
2018-03-11
Buffalo, NY
Other service problem
Money transfer, virtual currency, or money service: Virtual currency
Complaint: I have not had the option to buy on my Coinbase account since mid XX/XX/2017. This has resulted in me losing out on the potential in 10s of thousands of dollars in return of my investments during the peak crypto market.
Their customer service is horrible! I have sent them over 15 emails with little to no organic replies, just not email replies. They even hung up on me during a phone call that i waited over an hour to get through.
Company Response: Closed with explanation
2018-03-11
CA
Managing, opening, or closing your mobile wallet account
Money transfer, virtual currency, or money service: Mobile or digital wallet
Complaint: I have a Coinbase account holding {$20000.00} in XXXX and XXXX of XXXX. While trying to make an additional purchase of XXXX with a bank account linked to the coinbase account I accidentally overdrew my bank account. Giving an insufficient funds notice for {$1500.00}. When I tried to use the buy sell feature on my coinbase account on XX/XX/XXXX. It said I needed to cover the {$1500.00} from my attempted purchase of bitcoin that had insufficient funds in my bank account.
I completed payment of that {$1500.00} from my USD wallet on coinbase. It said thank you for payment and showed that I owed {$0.00} Assuming that I had now unlocked use of my account and access to my funds I was surprised to see that I got a message saying Payment required.
When I click on that message it says that I owe {$0.00}.
I contacted coinable customer support by phone on XX/XX/XXXX and they said my case would have to be looked at by a specialist. They gave me absolutely no timeline of how long this could take for me to have access to my funds. After speaking with phone support i was sent this email : Hi -- -, Thanks for reaching out. 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.
Thank you for your patience.
I called customer support the next day and was met with basically the same answer that they have no idea how long it could take for me to have rightful access to my funds.
Company Response: Closed with explanation
2018-03-11
Brentwood, PA
Money was not available when promised
Money transfer, virtual currency, or money service: Virtual currency
Company Response: Closed with explanation
2018-03-10
MD
Other transaction problem
Money transfer, virtual currency, or money service: Domestic (US) money transfer
Complaint: On XX/XX/XXXX i requested Coinbase remove {$1000.00} from my XXXX savings account. This money was removed but never entered into my coin base account. Seven days previously on XX/XX/XXXX Coinbase removed {$1000.00} from same account and entered it into my Coinbase Account.
I first contacted their support team on XX/XX/XXXX to complain the money was never entered into my Coinbase account and provided documentation the money was removed from my XXXX account on XX/XX/XXXX. I also called their support team by phone no fewer than three times and have sent them at least two dozen emails. Their support team agreed i was correct and raised the level of my problem to a " level 10 '' ( their highest level ). However, after more than two months and multiple calls, countless emails and clear documentation they will not refund my money.
Clearly this is either fraud or a scam and is frankly outrageous for a XXXX dollar company.
Company Response: Closed with explanation