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 25
2018-03-08
Columbia, MO
Money was not available when promised
Money transfer, virtual currency, or money service: Virtual currency
Company Response: Closed with explanation
2018-03-07
Washington, DC
Other service problem
Money transfer, virtual currency, or money service: Virtual currency
Complaint: Coinbase, a popular virtual currency wallet, is advertising that their wallets are insured by the FDIC. By my understanding, this is factually inaccurate and misleading to potential cryptocurrency investors.
Link to the page where this is stated XXXX XXXX XXXX XXXXXXXX Quote in question : " If you are a United States resident , your Coinbase USD Wallet is covered by FDIC insurance, up to a maximum of {$250000.00}. ''
Company Response: Closed with explanation
2018-03-07
NJ
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, access to which is controlled by a 2 factor authentication ( 2FA ) code that is generated by an Authenticator app on my phone. On XX/XX/XXXX, I had issues with my phone, and I had to get the phone restored. I lost access to the 2FA code when I did this. Unfortunately, I did not store the secret seed key that is required for re-establishing the 2FA mechanism back on my phone. I spoke to Coinbase Customer service on XX/XX/XXXX and explained my situation. I was told to verify my identity by uploading my driver 's license, which I did. I was told that my account will be reset in 3 business days. This has not happened so far -- and I have been locked out of my coinbase account for 6 weeks now, with no access to my crypto funds.
Since XX/XX/XXXX, I have spoken to Coinbase support at least 6 times, and exchanged at least 10 emails, but there has been no resolution yet.
Company Response: Closed with explanation
2018-03-07
Unauthorized transactions or other transaction problem
Money transfer, virtual currency, or money service: Mobile or digital wallet
Company Response: Closed with explanation
2018-03-07
Anaheim, CA
Other service problem
Money transfer, virtual currency, or money service: Virtual currency
Complaint: I have been trying to get access to my account with Coinbase for 3 months. I have an account tied to a student email address at a school which I no longer attend and I can not get access to said coinbase account, as I no longer have access to this email address. I still have the username, password, and the 2 step authentication still comes to my phone - but I can not verify the account via the email address. I have talked to coinbase numerous times, and they are never helpful. They actual told me that everytime I call of email, my request actually goes back to the back of the line. They say the best way to resolve this issue is to stop calling and wait. I originally contacted them in early XX/XX/XXXX, and I contacted them roughly 10 times between then and XX/XX/XXXX. I stopped calling them at this point in hopes that they would give me access to my account so I can withdraw my funds. They have done nothing. I need someone to help me gain access to my money, as coinbase is doing absolutely nothing to help me.
Company Response: Closed with explanation
2018-03-07
San Diego, CA
Fraud or scam
Money transfer, virtual currency, or money service: Virtual currency
Complaint: I have had multiple issues with Coinbase , Inc . Freezing my funds and demanding payment for transactions that have already settled. In addition, Coinbase hase made several ACH withdrawals from my bank account that do not match any of the transactions I have had with the site.
I have submitted 3 support tickets and contacted customer service on two occasions.
My account was settled back to {$0.00} balance after escalating and speaking with an account specialist. After logging in two weeks later the company has frozen my account and demands {$6800.00} for transactions that were previously settled.
I have recently had fraud on other credit cards not associated with my Coinbase account. One charge on XX/XX/XXXX was for a XXXX, where someone ran a background check on myself and was able to access scores of personal information that could be used to gain access my Coinbase account.
All of the incidents with Coinbase mentioned above happened after the XXXX fraudulent charge.
I submitted another support ticket but never get resolution for these issues. Coinbase has been unscrupulously handling ACH withdrawals, Credit Card withdrawals and now are demanding funds that were either settled or fraudulently charged based on the facts that i have gathered.
I am seeking immediate resolution to clear the negative balance and regain access to my account. Coinbase has been dismissive and unresponsive to my concerns.
Company Response: Closed with explanation
2018-03-07
IL
Other transaction problem
Money transfer, virtual currency, or money service: Virtual currency
Complaint: This complaint is against Coinbase. I have a account with Coinbase which requires authentication via phone ( 2 Factor Authentication ) to sign-in to my account. Unfortunately, I had to return the phone that I had been using to authenticate and sign-in to my Coinbase account. Therefore, I was unable to log-in. Following is the list of event that happened as I tried to get access to my account : XX/XX/XXXX : Unable to log-in to Coinbase due to 2 Factor Authentication issueXX/XX/XXXX : I submitted a ticket requesting for help XX/XX/XXXX: Someone from customer service got back to me. Coinbase asked me to open a new account, so that they could verify my identity.XX/XX/XXXX : I responded back to Coinbase letting them know that my new account had been created.
XX/XX/XXXX : Someone from Customer Service responded back letting me know that my ID had been verified and they were working with a technician to proceed with the transfer.
XX/XX/XXXX : No transfer had been made so, I emailed back customer support to check on status of balance. No response yet.
It has been close to 1 month to get my issue resolved, so I have not other option than to raise a complaint with CFPB.
Company Response: Closed with explanation
2018-03-06
San Diego, CA
Fraud or scam
Money transfer, virtual currency, or money service: Virtual currency
Company Response: Closed with explanation
2018-03-06
IL
Other transaction problem
Money transfer, virtual currency, or money service: Virtual currency
Complaint: Date : XXXX Amount : XXXX litecoin Company : XXXX ( Coinbase inc. ) My account : XXXX Action : Failing to recognize an erroneous transaction I was trying to transfer Litecoin to my another account. However, I accidentally entered my Bitcoin address instead of my Litecoin address as the receiving address. Of course, this got rejected by the blockchain right away. However, XXXX confirmed this as a valid transaction. As a consequence, the XXXX litecoin has been withdrawn from my GDAX account although the transaction never happened. Ever since, Litecoin had dropped 30 % in value and I lost the opportunity to sell it since XXXX had effectively confiscated my litecoins. I contacted their customer supports and they havent got back to me in 2 months.
I attached two screenshots. One shows the transfer history from my XXXX account, and it says the transfer is complete. However, if I track the transfer address, it says the Litecoins were never redeemed ( i.e. the transfer was never completed )
Company Response: Closed with explanation
2018-03-06
Northside, NC
Other transaction problem
Money transfer, virtual currency, or money service: Virtual currency
Complaint: CoinBase is refusing to let me withdrawal any funds. There is {$100.00} in my Coinbase account in USD, and every time I try to transfer it back to my bank, it sends me through a loop that leads me back to square one. On my last attempt, XX/XX/XXXX, rather than transfer money back to my bank, they deposited another {$100.00} from my bank account. I have contacted them 3 times only to get a XXXX we are busy reply. These 3 occurred over the course of two weeks. Still no reply. I am requesting that the {$100.00} as well as the additional {$100.00} withdrawn from my account are returned.
Company Response: Closed with explanation
2018-03-06
Loveland, CO
Other transaction problem
Money transfer, virtual currency, or money service: Virtual currency
Company Response: Closed with explanation
2018-03-06
Managing, opening, or closing your mobile wallet account
Money transfer, virtual currency, or money service: Mobile or digital wallet
Complaint: Coinbase. XX/XX/XXXX to XX/XX/XXXX. Withdrew Euros XXXX in line with the instructions of the organisation. Money has still not arrived in linked account and all linked account details are correct. It is now 3 weeks after the request and process and confirmation receipt that it has been completed. Withdrawal reference : XXXX
Company Response: Closed with explanation
2018-03-06
Chicago, IL
Managing, opening, or closing your mobile wallet account
Money transfer, virtual currency, or money service: Mobile or digital wallet
Complaint: On XX/XX/ I purchased {$180.00} worth of Litecoin cryptocurrency with my XXXX XXXX.
On XX/XX/ I recieved an email from Coinbase stating that payment for my Litecoin order was reversed by my card issuer.
On XX/XX/ Coinbase restricted access to my XXXX account with {$3300.00} of my funds locked in the account. I contacted Coinbase customer support about this issue via email and received a reply stating that my case has been " escalated '' and their " subject experts '' will be completing a review of my purchasing power.
It is now XX/XX/XXXXthere is still no resolution and I have contacted Coinbase customer support three times and have not gotten a response about my case.
Company Response: Closed with explanation
2018-03-05
Charlotte, NC
Wrong amount charged or received
Money transfer, virtual currency, or money service: Virtual currency
Complaint: XX/XX/XXXX I opened an account with you folk approximately 2 months ago and funded it through transfers {$1400.00} and {$600.00} respectively ( see below ). You sent a confirmation as to receiving these funds. I believe it was on XX/XX/2018 Coinbase drafted an additional {$1000.00} from this account which was totally unauthorized ( theft ). I've been trying to get the funds back now for over 8 weeks to no avail. The emails continue to say our investigation is underway which is nothing more than stalling. With the millions you, as well as Coinbase have made with these cyber currencies, why in XXXX would you refuse to return a paltry {$1000.00}? Oh, I know as I related to XXXX XXXX that I'm a XX/XX/XXXX-year-old XXXX XXXX and the targets get bigger each day on seniors especially if you happen to be XXXX. XXXX XXXX, I have literally begged these people to put the money back into my checking account and they keep stalling ; I'm aXXXX-year old senior whose income is less than {$1500.00} a month. I need my money, what little I have. Please help me Below are the actual bank drafts from Coinbase which shows the unauthorized draft of {$1000.00}
Company Response: Closed with explanation
2018-03-05
Chicago, IL
Other transaction problem
Money transfer, virtual currency, or money service: Virtual currency
Complaint: On XX/XX/18, I purchased XXXX of Ethereum from Coinbase for {$15000.00}, including their fee. I used a new account with XXXX XXXX that they had already verified using small test transactions. Several days later, when profit of over {$5000.00} was assured, they reversed the transaction, instead of delivering the above shares to my account. Their excuse was that XXXX XXXX, who they had already verified, reversed the charge. Instead of charging a different account for the shares, they simply kept these profits for themselves. In their email about the reversal, they even acknowledge their ability to deliver shares not paid for yet, giving them the obvious option to have delivered the shares to me if the trade were not profitable ( and holding me accountable for order amount rather than their taking the loss ). This reeks of double dealing and I insist they put the original transaction through with the other linked account I have on record with them ( XXXX XXXX XXXX ).
Company Response: Closed with explanation
2018-03-05
Three Bridges, NJ
Wrong amount charged or received
Money transfer, virtual currency, or money service: Virtual currency
Complaint: I tried to purchase {$300.00} two different times onXX/XX/XXXXfrom CoinBase, but the transaction was not completed due to insufficient funds in the bank account. I did not receive any BTC from CoinBase and my bank account was not charged.
Sometime aroundXX/XX/XXXX, my Coinbase account was frozen and I was not allowed to complete any transactions. I immediately sent a support ticket to them and was told that they would get back to me within 7 days due to high volumes of cases.
On XX/XX/, XXXXoinbase withdrew {$600.00} worth of BTC ( XXXX ) from my Coinbase account without any warning to me. I immediately followed up with them, and they told me that the proper escalations were made, but there would be a delay due to high case volumes.
It is nowXX/XX/XXXXand a month has passed since I have submitted the ticket and I have not received a response from Coinbase yet.
I have verified my Coinbase transaction history against my bank statement and they are correct. Looking at just the {$300.00} transactions, I have 5 transactions for {$300.00} shown on my Coinbase transaction history and 5 transactions for {$300.00} shown on my bank statement. I have sent this information to them, but I have not received a response yet.
I am frustrated by the lack of communication. Furthermore, I am not sure what to expect as a response from them and if I will even be able to appeal the decision without having to wait another month for a response. The very nature of the product they are providing is time sensitive and the lack of a timely response is unacceptable.
Company Response: Closed with explanation
2018-03-05
Norwalk, CA
Other service problem
Money transfer, virtual currency, or money service: Virtual currency
Complaint: XX/XX/XXXX I invested {$200.00} into Bitcoin on Coinbase after I verified my Bank Account and Identity. Was advertised as 2-3 days before I would receive my Bitcoin, ended up being transferred into my Coinbase account on XX/XX/XXXX
During that time before the Bitcoin was credited to my account, I also added a debit/credit card to the account that required additional verification ( Address, SSN, etc. ) After I input that information, Coinbase locked me out of me account. The reason they gave is that I was under-age, except it was a false accusation because I have been of-age since XX/XX/XXXX.
I tried to contact them multiple times a day, emailing regarding a single support ticket as well as XXXX to them multiple times a day ( because XXXX is one of the only platforms they seem to semi-respond in ). I ended up stopping my XXXX, noticing that I was getting nowhere, and I just waited.
My account was locked for almost 3 months, and within the first 2 weeks of the account being locked I had to stressfully watch my bitcoin turn into almost {$400.00}, which I would have turned into a different currency and gotten a few thousand for a car down payment. I took a lot of emotional damage from not having access to that money especially because they wrongfully accused me of being underage and I had to watch the money I invested lose value.
When my account was finally unlocked, my bitcoin was worth less than the initial {$200.00} I invested, which is basically Coinbase stealing my money. Coinbase has still not responded to my emails, and only unlocked my account. It's been almost 2 weeks since my account was unlocked. I trusted the company to respond to me and to fix the issue, but they never did.
All I want is the {$400.00} worth of Bitcoin that I had. I lost thousands in profit from my account being locked when all of crypto went crazy. All I'm asking for is the {$400.00} worth of Bitcoin I once had. Currently the bitcoin in my account is worth {$190.00} which is STILL below my initial investment of {$200.00}.
Company Response: Closed with explanation
2018-03-05
NY
Other service problem
Money transfer, virtual currency, or money service: Virtual currency
Complaint: I have been locked out of my XXXX and Coinbase account for almost a month.
They are holding around {$5000.00} in virtual currency value and said they would get a " specialist '' on the case almost 10 business days ago. They have failed to respond or update me on the case and I have not been able to access my funds for almost 1 month!
Case Number # XXXX and # XXXX
Company Response: Closed with explanation
2018-03-05
Soquel, CA
Other transaction problem
Money transfer, virtual currency, or money service: Domestic (US) money transfer
Complaint: I accidentally used the wrong wire information for an outgoing wire for {$5900.00} FROM Coinbase TO my XXXX account. Sent on XX/XX/XXXX, reference number XXXX Please pull back that wire. I tried asking Coinbase several times already. Thank you!
Company Response: Closed with explanation
2018-03-05
Katy, TX
Money was not available when promised
Money transfer, virtual currency, or money service: Virtual currency
Company Response: Closed with explanation
2018-03-05
Ft Belvoir, VA
Other service problem
Money transfer, virtual currency, or money service: Virtual currency
Complaint: On about XX/XX/2018, my account on Coinbase and XXXX was locked for no apparent reason - specifically, Coinbase prevented me to do any additional Buys - which automatically locked me out of logging into XXXX where all of my funds are currently stored. After numerous calls and emails, I have not heard back nor got any further explanation except that there must be an error and my case number : # XXXX or # XXXX was being escalated. As of XX/XX/2018 - I have not heard back from them on what progress is being made to release my account back to me so that I may get my funds back into my hands.
Company Response: Closed with explanation
2018-03-05
LA
Money was not available when promised
Money transfer, virtual currency, or money service: Virtual currency
Complaint: I initiated a sale of bitcoin via the Coinbase website where I hold an account. The sale was supposed to finalizeXX/XX/XXXX. However I never got my money. The amount was taken from my account. The Coinbase website lists this transaction as completed.
I called Coinbase support XX/XX/XXXXto find out what happened. I was told a ticket had been created for my question and support would contact me further. They have not done so.
I called Coinbase support XX/XX/XXXXand was told that " the system is down '' and no one, not even support staff, could see what happened. There is no date when the system will be restored.
I've filed another complaint with Coinbase asking about my money.
I still have money " held '' with Coinbase but it doesn't look like I will be able to get it back.
From the Coinbase site ( about the transfer in question ) : Sold XXXX BTC for {$1500.00} USD.
Payment will be sent to XXXX - Total Checking XXXX by Friday XX/XX/XXXX
The sale was marked as completed :XX/XX/XXXX XXXX ( this is the reference number provided by Coinbase. ) As of XX/XX/XXXXI haven't received my money or heard back from the support staff. Please help!
Company Response: Closed with explanation
2018-03-05
San Jose, CA
Money was not available when promised
Money transfer, virtual currency, or money service: Virtual currency
Complaint: I purchased some Litecoin ( a cryptocurrency ) through Coinbase on XX/XX/XXXX and the transaction has been in " pending '' status to this day XXXX XX/XX/XXXX ). I've sent 4 emails over the course of the last 4 months regarding this issue with little to no response.
Company Response: Closed with explanation
2018-03-05
MT
Unexpected or other fees
Credit card or prepaid card: General-purpose prepaid card
Complaint: XX/XX/XXXX I purchased around {$400.00} of bitcoin from Coinbase and i was Double charged that amount on XX/XX/XXXX. I still have not received a refund. Just automated responses.
Company Response: Closed with explanation
2018-03-05
Citrus Heights, CA
Wrong amount charged or received
Money transfer, virtual currency, or money service: Virtual currency
Company Response: Closed with explanation