Coinbase, Inc

2018-02-26

AZ

Unauthorized transactions or other transaction problem

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

Complaint: Coinbase owes me {$4800.00}. I filed a case # XXXX with them and they have been no help. On XX/XX/2018 the amount was sent over and received by coinbase. I received an automated email from them saying my funds would be available by the end of the day on the XXXX, instead it has been stuck on pending now for well over a month. And they will not help me. Their support team is horrendous. And additionally I was scammed another {$750.00} but a fake coinbase number I called that posted on Coinbase 's Support 's XXXX page. So they are also allowing scam companies to make posts using their same exact logo and font to offer help to ppl, when they should be deleting these fraudulent posters.
Company Response: Closed with explanation

Timely Response

2018-02-26

Tenafly, NJ

Wrong amount charged or received

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

Complaint: Coinbase ( and its subsidiary XXXX ) have submitted a 1099-K showing an incorrect amount of gains to the IRS on my behalf. I have tried contacting them multiple times via their support email address and each time they have ignored the problem or otherwise not fixed it.
Company Response: Closed with explanation

Timely Response

2018-02-26

Boston, MA

Fraud or scam

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

Complaint: Hello, I have been locked out of my coinbase account that holds my funds for 50 days, starting Saturday, XX/XX/XXXX. I start trading using this account on XX/XX/XXXX and already verified my account and linked it to my bank account, which I used to wire the money to my coinbase account. I tried to recover my account by submitting a copy of my driver license online on Saturday, XX/XX/XXXX, and Sunday, XX/XX/XXXX however, because the name on the online account is different than the name on my driving license ( the name on my driving license contain an extra letter as an initial for my middle name, however, only my first and last name shows up at my account ), the process failed. I reached Coinbase customer service by email on Sunday XX/XX/XXXX and by phone on Monday, XX/XX/XXXX, XXXX XXXX EST and submitted a high priority ticket ( as the agent told me ) due to the sensitive situation since I have all the needed documents for account recovery and the first and last name matches the name on the account. I did not hear back from coinbase and I tried to call them several times ( XX/XX/XXXX, XX/XX/XXXX and XX/XX/XXXX, XX/XX/XXXX and XX/XX/XXXX ) but unfortunately, the agents refused to give me any useful information or estimated time for coinbase reply which till now is taking almost two months without the ability for me to access my funds. They also refused to transfer me to the department that handles the accounts lock out or to even contact them. Only one time the customer sevice agent promised that he will contact them on my behalf and will send me an update email, but he did not. The problem is that the market is a very sensitive one and I lost more than 1100 $ due to the change in the trading prices and the inability to sell or even transfer or use my funds. This is in addition from preventing me from access/invest my money. I still do not know when the company is planning to respond to a high priority issue, as stated by their customer service agents, which will further change the amount of loss I am encountering till this moment. I have a copy from all the emails that I received after each call.
Company Response: Closed with explanation

Timely Response

2018-02-26

Astoria, NY

Other service problem

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

Company Response: Closed with explanation

Timely Response

2018-02-26

Money was not available when promised

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

Company Response: Closed with explanation

Timely Response

2018-02-25

Money was not available when promised

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

Complaint: on the XXXX of XX/XX/2018 i sold my bitcoin using coinbase and since them i have not been able to withdraw my funds. i have been lied to over the phone when i asked how to withdraw my money. i tried to link my account using XXXX payment where i uncured charges from my own bank account on the XXXX XXXX. i have still been unable to withdraw my funds,
Company Response: Closed with explanation

Timely Response

2018-02-25

San Francisco, CA

Managing, opening, or closing your mobile wallet account

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

Company Response: Closed with explanation

Timely Response

2018-02-25

Portland, OR

Managing, opening, or closing your mobile wallet account

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

Company Response: Closed with explanation

Timely Response

2018-02-25

Albany, NY

Fraud or scam

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

Complaint: Coinbase is disabling buys for zero reason on millions of accounts. Asking for verification then never responding or enabling peoples accounts again. They are a fraud
Company Response: Closed with explanation

Timely Response

2018-02-25

OH

Money was not available when promised

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

Complaint: My account containing XXXX BTC and XXXX BCH was restricted at some point in XX/XX/XXXX. Coinbase did not notify me as to when or why this occurred. I had stopped using their service on XX/XX/XXXX because they erroneously charged my credit card ( backup payment method ) for purchases that had cleared and posted from my linked checking account. I attempted to contact them through their support email on XX/XX/XXXX in response to their notification about my credit card. Here is the text which can also be found on their support ticket. ( REDACTED ) XX/XX/XXXX XXXX There were no failed or reversed transactions that would require you to charge this card. All of the transactions have appeared on my checking account, which has more than enough money to cover them. On XX/XX/XXXX, at XXXX, Coinbase <XXXX> wrote : [ Coinbase ] </accounts/primary> Hi ( REDACTED ), Your card ending in XXXX ( REDACTED ) has been removed from your account. Reason : We attempted to charge this card as a backup payment method for a failed or reversed transaction, but the charge could not be processed. Kind regards, The Coinbase Team They gave me an automated response amount a declined charge. Because the charge was in fact not declined, and I had already stated as much in my response and awaited an actual response for the ticket. I never received another response and had moved on to a competing service. At some point in the future I logged into my Coinbase account to check the status of my funds. This is when I found the message : " We couldn't complete one of your buys due to an issue with your payment method. Please select a payment method to continue. '' It asked me to complete a purchase for {$570.00}. It listed a series of buys that were indeed paid for according records from both their website and my financial institutions. They listed a series of Bitcoin amounts, some of which never posted to my account or were initiated by me. Because they had not contacted me about this in any way, I moved on for a brief time. On XX/XX/XXXX I decided to reinitiate contact with Coinbase to attempt to resolve the matter. The initial message submitted as a support ticket with Case ID : XXXX is seen below. ( REDACTED ) XX/XX/XXXX XXXX I would like more information about the affected purchases on my account. I have not used this service in a long time and I need to confirm dates as well as payment methods. If I can verify the issues, I would be glad to make payment in full to restore my account. Thank you, ( REDACTED ) I did not receive a response in over a month, so on XX/XX/XXXX I added an additional comment confirming that the error was with Coinbase and asking that my Bitcoin funds be made available to withdraw from my account. Correspondence below. ( REDACTED ) XX/XX/XXXX XXXX I made this request over 1 month ago to absolutely no response from Coinbase XXXX I am considering this confirmation that the negative balance is an error on your end. Because of this, I am requesting that the funds available in my XXXX wallet be released and available to withdraw. Thanks, ( REDACTED ) I received an automated response explaining that they are busy, and they closed the case ( I will include the full transcript of combined caseXXXX in an attachment ). I immediately reopened the case and explained that it was still indeed an issue. I have sent numerous messages to them through support, XXXX, XXXX, and email. On XX/XX/XXXX I received a response ( XXXX a canned response seen in many other complaints ) indicating it has been escalated and will take 4-5 days to resolve. This was over four months ago. All actions require support and I have received none in 260+ days of attempting to resolve this. The USD value of the amount of cryptocurrency they are holding In my account fluctuates, but it is near {$1500.00} as I write this.
Company Response: Closed with explanation

Timely Response

2018-02-24

Centreville, VA

Managing, opening, or closing your mobile wallet account

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

Company Response: Closed with explanation

Timely Response

2018-02-24

Orchard Mines, IL

Fraud or scam

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

Company Response: Closed with explanation

Timely Response

2018-02-24

La Pine, OR

Managing, opening, or closing your mobile wallet account

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

Complaint: In 2017 I purchased Bitcoin and Ethereum in a digital Wallet through my XXXX Debit card. I sold some and am unable to get it from the wallet back into my bank account. MY MONEY IS HOSTAGE. I have sent multiple pictures of my drivers license, copies of my bank statement, utility bill and tax statement. They still can not find a way to return my money to my bank account. I have an " open case ''. They answer the phone which is appreciated, but I am getting nowhere. It would be nice to have them send me a check.
Company Response: Closed with explanation

Timely Response

2018-02-24

Poway, CA

Other transaction problem

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

Company Response: Closed with explanation

Timely Response

2018-02-23

South Lake Tahoe, CA

Other transaction problem

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

Complaint: On XX/XX/2017 I failed a 2 factor authentication for my Coinbase.com account. I had changed my phone number, and had not changed it on Coinbase, and proceding a hard reset of my phone I was no longer able to access my account. Since this date, I have filed numerous tickets, and called at the customer support number at least 7x. The entirety of the interaction is " we have assigned a specialist to this case ''. It is XX/XX/XXXX and I have not been given any indication that I may access my digital securities. I have completed all security checks, identification verifications, and have even created a new account at their behest to " transfer funds '' over to. I do not know what to do, as this is a considerable amount of my wealth and savings- and not having access to it is beginning to affect my standard of living.
Company Response: Closed with explanation

Timely Response

2018-02-23

MT

Other service problem

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

Complaint: I lost access to an email account that I used to sign up for Coinbase some years ago. I remembered the username and password and when I login, it gives me a two-factor authentication request that wants to confirm my email address. I don't have access to that email so I can not confirm. Coinbase has a support article which states they are able to help people who had lost access to their previous accounts ( https : XXXX ). I followed the process they outlined including creating a new account with a new email address and verifying my identity by uploading my California State Drivers License and a photo of myself. I also emailed them to let them know I went through their requested process for recovering accounts that you no longer have access to the email that you created them with. It took about a month and a half for someone to get back to me. A person named XXXX emailed me and said there was nothing they could do. I pointed them to the support article and pressed her to help me. She sent me another email with clarifying questions about my account. I responded with answers. I just received an email saying, again, that Coinbase can't help people recover their accounts despite their own policy posted clearly on their website.
Company Response: Closed with explanation

Timely Response

2018-02-23

Queens, NY

Other service problem

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

Complaint: I have been locked out of my account with Coinbase with no access to funds within it. I logged a report with customer service on XX/XX/XXXX during which i was told purchase orders were suspended on my account. The reason was not provided and I was informed that the issue needed to be escalated. An estimate of 3-5 days was provided. A week later and no contact was received so i followed up and was given the same answer - the issue has not been reviewed yet and is sitting in queue. An inability to create a purchase order should not preclude me from viewing my current holdings. I am completely in the dark as to if my account balances have been tampered with. Coinbase has effectively frozen my assets with no warning. Please help
Company Response: Closed with explanation

Timely Response

2018-02-23

E Fairfield, VT

Other transaction problem

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

Complaint: On XX/XX/, XXXX XXXX, I did purchase {$100.00} USD of ETH, {$100.00} USD of BTC, as well as {$100.00} USD of LTC. Approx. 6 days later on XX/XX/, I purchased another {$100.00} USD of LTC and {$200.00} USD of BTC. On XX/XX/ at XXXX while on Coinbase 's XXXX page I click a link ( never again ) which took me to my coinbase account. This person who I believed to be a Coinbase employee told that Coinbase was giving users who sent XXXX ETH to them XXXX to XXXX ETH back. I then tried to login to my account. Coinbase sent me at least three or four 2FA authentication codes, which I thought were a distraction. I never logged in. My email app appeared out nowhere with an email asking to authorize the Coinbase app. Since I authorized the app my account has remained locked. They say they are refunding me for {$100.00} USD of LTC and {$200.00} USD of BTC. However, They never told me anything about the coins I have in a wallet on there site. I had a reasonable expectation that my coins would be safe at Coinbase. I truly believe that employees of Coinbase are SECRETLY scamming the American public out of their money. I expect and pray for a full refund or have my account reinstated. Advice to all consumers : Learn all you can about scams on Coinbase. AND REPORT ALL SUSPECTED CRIMINAL ACTIVITY!
Company Response: Closed with explanation

Timely Response

2018-02-23

Lk Buena Vis, FL

Money was not available when promised

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

Company Response: Closed with explanation

Timely Response

2018-02-23

San Jose, CA

Money was not available when promised

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

Complaint: This is my second wire transfer gone missing with Coinbase , Inc . Case # : XXXX Ref : XXXX Date of transfer : XX/XX/18 Amount of transfer : {$3000.00} Sender bank : XXXX XXXX XXXX Sender full legal name : XXXX XXXX Bank Account No. : XXXX Routing No. : XXXX IMAD ( alpha-numeric federal trace ID ) XXXX
Company Response: Closed with explanation

Timely Response

2018-02-23

Louisville, KY

Money was not available when promised

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

Complaint: {$9000.00} wire transfer sent on XX/XX/ and confirmed on XX/XX/ has never been credited to my account. This has been going on 13 days with no contact from Coinbase support. I was able to contact the bank and they initially told me no funds were received under my name. After providing further documentation they were able to find the funds under the Name of XXXX XXXX ( my bank ). I was told that the funds will not be able to be credited to my Coinbase account and that they will EVENTUALLY be returned to me. I am required to send an email to their compliance department. The email was sent immediately on XX/XX/ and was later returned undeliverable due to the address not being able to receive email. I have yet to receive my funds returned to my account. {$9000.00} tied up for 13 business with no end in sight. Please help.
Company Response: Closed with explanation

Timely Response

2018-02-23

Baltimore, MD

Money was not available when promised

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

Company Response: Closed with explanation

Timely Response

2018-02-23

Soquel, CA

Money was not available when promised

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

Complaint: Hi, I've made a wire deposit from XXXX XXXX XXXX to Coinbase ( XXXX XXXX XXXX ) on XX/XX/XXXX amount of {$25000.00}. However, the amount is still not showing up on my Coinbase account. I've called the XXXX XXXX XXXX customer service and they told me that $ XXXX has been deposited to Coinbase on XX/XX/XXXX. I've contacted Coinbase several times in many ways but have not heard anything from them yet. For me, this is a large amount of money and I am very concerned about this issue. Could please please help me on this issue? I really want to know what is going on with my money? Below are the details of my transaction. Please let me know if you need anything else. Thanks for your help in advance! - Amount : {$25000.00} - Date sent : XX/XX/XXXX - Name of sending bank : XXXX XXXX XXXX - Personal name : XXXX XXXX - Email on Coinbase account : XXXX - Reference # : XXXX XXXX XXXX numberXXXX
Company Response: Closed with explanation

Timely Response

2018-02-23

Long Island City, NY

Money was not available when promised

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

Complaint: I sold all my crypto currency on coinbase and had them wire the money to my bank account on XX/XX/XXXX. Both ether and bitcoins. The transaction shows as completed in the app but I haven't received any payment on my bank account as of now. I did get in touch with customer service and they said they will investigate and will follow-up with me - this was on XX/XX/XXXX. I haven't heard anything back from them since although I followed up twice already.
Company Response: Closed with explanation

Timely Response

2018-02-22

NJ

Money was not available when promised

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

Complaint: On XX/XX/2017 I purchased XXXX bitcoins for a price of {$300.00} through a company called Coinbase. At most the company claims delivery can take up to 10 days. After a week of not receiving my bitcoins I emailed Coinbase support. After almost two weeks they replied asking for a screenshot of my purchase status which still said " Pending ''. Keep in mind the funds were long taken from my bank account. Replying the same day I was later informed that my situation was being handled by a specialist. After not hearing back for another week I asked for an update and I never heard from Coinbase again. I attempted to submit a claim through my bank but because the transaction was " authorized '' they said they couldn't help me.
Company Response: Closed with explanation

Timely Response