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 3
2019-08-21
Brooklyn Center, MN
Fraud or scam
Money transfer, virtual currency, or money service: Virtual currency
Company Response: Closed with explanation
2019-08-16
TX
Fraud or scam
Money transfer, virtual currency, or money service: Virtual currency
Complaint: On XX/XX/19 at XXXX on Coinbase I sent {$300.00} to XXXX They say the transaction is complete but my money is not there. They will not discuss it with me over the phone and refuse to answer my emails. I dont know what to do Im out {$300.00} and they just get away with it. Please help
Company Response: Closed with explanation
2019-08-15
Problem adding money
Money transfer, virtual currency, or money service: Mobile or digital wallet
Complaint: Hi, I transfer funds XXXX out of my bank account ( XXXX XXXX ) on the XX/XX/Aug2019 to purchase bitcoin to my wallet with Coinbase, unfortunately it hasnt shown on my Coinbase account, I have contacted Coinbase many times via phone and email and all I get in the form of a response is its being looked into and we will get back to you for a bank reverse. I would like to add there on guidelines state it takes 3 working days??? its the XX/XX/XXXX and has gone beyond these guidelines.
The only actions the company has taken is emails saying they will get back to me and it has been escalated .which has not happened
Company Response: Closed with explanation
2019-08-15
Brooklyn, NY
Money was not available when promised
Money transfer, virtual currency, or money service: Virtual currency
Complaint: I purchased XXXX virtual tokens ( also called REP ) in 2 separate transactions, one on XX/XX/XXXX and one on XX/XX/XXXX, from Coinbase Pro for a total of {$780.00}. I tried to withdraw these tokens to a wallet address sometime between the XX/XX/XXXX purchase and XX/XX/XXXX, which was when I notified Coinbase that I was getting an 'internal server error ' message when I attempted to withdraw to a wallet address. Coinbase asked me more questions about the issue and claimed they sent my problem off to a specialist to further investigate the issue on XX/XX/XXXX. Since then, I have not heard from anyone besides Coinbase 's first line support that yes, my case has been sent off to a specialist, but they will give no further details. I have been patiently waiting for answers for almost 1 month, which is far beyond the 4-5 day resolution time they initially quoted me. Coinbase is putting me at risk of losing my tokens in the event of an exchange hack or a delisting. The entire point of cryptocurrencies is that you can send them when and where you want without a third party getting in the way ; however, this is exactly what Coinbase is doing and they won't give me answers or try to remedy my situation. In essence I've been sold a worthless product by Coinbase.
Company Response: Closed with explanation
2019-08-15
Chino, CA
Unauthorized transactions or other transaction problem
Money transfer, virtual currency, or money service: Mobile or digital wallet
Company Response: Closed with explanation
2019-08-14
Salem, NH
Money was not available when promised
Money transfer, virtual currency, or money service: Virtual currency
Company Response: Closed with explanation
2019-08-13
Franklin Lks, NJ
Other transaction problem
Money transfer, virtual currency, or money service: Virtual currency
Complaint: Coinbase Case XXXX On XX/XX/XXXX, An unauthorized purchase was made on my Coinbase account after apparently being hacked. This was in the amount of XXXX Bitcoin or {$24000.00}. As soon as I noticed that same night, I contacted my bank and coinbase. After my bank reversing the transaction ( I obviously can not afford $ XXXX as my bank account is around $ 1k ) Coinbase informed me that my account was going to be locked and investigated. Keep in mind, I had north of {$1500.00} in crypto on that account that I had been saving up for months. After waiting for weeks, calling everyday to no avail and emailing back and forth, I was greeted with an email saying that I was gaining access back to my account after deeming the transaction was unauthorized. I was happy for a total of one minute until I logged in to see that my account had been drained to pay off the debt of the unauthorized purchase. Those XXXXbtc were purchased at a higher price-it dropped-and coinbase left me on the hook for something I didnt even purchase. Now my account shows {$0.00} in crypto and around {$3000.00} in debt that is required in order to even use the account. Im a small customer and used this site to build my savings slowly. I would never purchase nearly 25000 dollars for anything with my current financial status. The purchase was totally uncharacteristic and unlike any of my many other purchases and shouldve raised a red flag but instead Im left with debt for something I played no part in.
Company Response: Closed with explanation
2019-08-12
Quartzsite, AZ
Other transaction problem
Money transfer, virtual currency, or money service: Virtual currency
Complaint: The company Coinbase removed the debit card that I had on file from my account for over two years. I'm now unable to make or receive purchases. The card had been authorized and verified. I'm very concerned for my privacy. The same company has also retaliated in the past, after I submitting a consumer complaint. I'm very concerned that at the present, the company Coinbase views itself as being immune from any prosecution for its insider trading schemes.
Company Response: Closed with explanation
2019-08-10
Savannah, GA
Managing, opening, or closing your mobile wallet account
Money transfer, virtual currency, or money service: Mobile or digital wallet
Company Response: Closed with explanation
2019-08-07
Brooklyn, NY
Fraud or scam
Money transfer, virtual currency, or money service: Virtual currency
Company Response: Closed with explanation
2019-08-06
Beaux Arts, WA
Money was not available when promised
Money transfer, virtual currency, or money service: Virtual currency
Company Response: Closed with explanation
2019-08-06
MD
Managing, opening, or closing your mobile wallet account
Money transfer, virtual currency, or money service: Mobile or digital wallet
Complaint: Dear CFPB I am an XXXX XXXX from XXXX who came to the United States to achieve a XXXX XXXX as my initial plan. Now I am XXXX fXXXX at XXXX University, MD.
I made my first payment for Bitcoin at Coinbase on XX/XX/XXXX and then around 30 more payments until the last payment on XX/XX/XXXX. I also bought Ethereum and Litecoin.
I have verified my account with Coinbase such as uploading my driver license, connect with my bank account at XXXX XXXX XXXX. At this time, I can fully control my account like send, withdraw, sell to USD.
Importantly, my strategy is that I am a holder who buys and stores for a very long time like 5 years later, so I do not trade, buy and sell frequently. I just buy and hold. I do not check my account frequently.
Then when the price of Bitcoin goes uptrend from XXXX to around XXXX this year in XXXX, I go check my account and Coinbase block me from fully control it. I can not withdraw, send to my hard wallet, software wallet as well. Coinbase asks me to verify my account again with Social Security Number ( SSN ). However, at the first time when I buy Bitcoin on Coinbase, Coinbase does not require me to have SSN or ITIN. At this time, I still can transfer my cryptocurrencies and fully control my account.
I am just an XXXX XXXX who does not work, I just XXXX in the U.S for XXXX. So that I dont allow to have SSN or ITIN because I do not have the income to pay for the tax. I just buy it and hold for a very long time. I also have proof of document for my ineligibility to have an SSN from SSN Administration.
Now Coinbase blocks me from using my coins. I believe in Coinbase and happy to pay a fee every time I bought coins as a loyal customer. This is very not fair for me if all my cryptocurrency being blocked from using which is bought from my own money.
In addition, Coinbase did not send me any warning to my email or phone number that they change the policy for international students or customer who does not have SSN or ITIN so I can withdraw before they change it.
I only have a valid driver license, XXXX XXXX for XXXX XXXX, XXXX University student id card, valid XXXX, valid XXXX and bank account from XXXX XXXX XXXX.
Thank you CFPB admin for concerning my case.
Company Response: Closed with explanation
2019-08-06
Chula Vista, CA
Fraud or scam
Money transfer, virtual currency, or money service: Virtual currency
Company Response: Closed with explanation
2019-08-05
NY
Managing, opening, or closing your mobile wallet account
Money transfer, virtual currency, or money service: Mobile or digital wallet
Complaint: I have been trying to withdraw funds from my Coinbase.com account ( Cryptocurrency ), for the past month. Currently, my Litecoin, Bitcoin, and Ethereum Classic are sitting in my Coinbase vault accounts. In order to transfer the cryptocurrency from my vaults to regular wallets, I need to approve the transfer of funds from a secondary email/phone number which are both no longer active. Because I don't have access to my vault 's secondary email or phone number, I can not approve the transfer to my regular wallet or approve the withdrawal of funds to my bank account. I have tried contacting Coinbase via email and phone, and have not had my issue resolved. They told me they could manually transfer the funds from my vault to my regular wallet and then delete the old vaults. This would allow me to withdraw my funds. They had me authenticate my account, but I have not heard anything since. The company continues to say they are working on the case, but I have not had any resolution or update.
I have contacted them via phone on XX/XX/XXXX XXXX.
I have contacted them via email on multiple dates, they have not responded : The latest contact was XX/XX/XXXX.
The original date of contact was XX/XX/XXXX.
Company Response: Closed with explanation
2019-08-04
San Jose, CA
Problem adding money
Money transfer, virtual currency, or money service: Mobile or digital wallet
Complaint: I can not transfer my cryptocurrency BTC from my Coinbase vault into my Coinbase wallet. I have {$430.00} USD worth of Bitcoin that is in my Coinbase vault which needs to be withdrawn to my Coinbase wallet to access. I tried withdrawing but there is an issue with the withdrawal because I need to verify it from two of my emails ( my personal emails, one primary and another secondary that I had entered when I created my account ) to do so.
Coinbase sent me a confirmation to both of these emails which each included a link to approve the withdrawal, and i was able to successfully verify it from my primary because after, I was directed back to Coinbase and a green check was marked on that email address under the withdrawal transaction.
I then logged into my secondary email and followed the same steps, however after clicking on the link, a notification popped out from Coinbase which stated THE ACTION WAS ALREADY PERFORMED. Yet upon checking my Coinbase account and the withdrawal transaction, there was NO green check mark next to my secondary email address which meant that my approval from it was still pending.
I then tried to do it again , ave even tried canceling the transaction altogether to create another withdrawal yet the outcome was all the same. NO green check mark next to the secondary, and no approval.
I then did research online to see if any other Coinbase users have had the same problem, and found that there are MANY users who have encountered the same issue. However, Coinbase has not solved the problem after contact with support, and they still can not access the funds that are stuck in their Coinbase vaults. A few have even been waiting months which I found to be alarming, because the withdrawal process is stated to take no longer than 3 days.
This is theft because Coinbase will not release the funds which are rightfully mine, due to their verification problems and technical issues. Please help.
Company Response: Closed with explanation
2019-08-02
Beyersville, TX
Fraud or scam
Money transfer, virtual currency, or money service: Virtual currency
Complaint: On XX/XX/2019 I had sent XXXX XXXX from XXXX XXXX to Coinbase Exchange so that I could sell the currency. At the time worth approximately {$10000.00} ( Current value at the time of writing this complaint, {$8500.00} ) My Coinbase wallet address and destination tag were included. The transmission receipt shows that Coinbase received the currency however it was never credited to my Coinbase wallet. I contacted Coinbase XX/XX/XXXX to inform them that my funds hadn't arrived in a timely manner and they told me it would take five days to investigate. Immediately after getting off of the phone, I received and email from Coinbase support stating that it would take four to five weeks for a specialist to review. So I called back and they assured me that they would escalate the case. I have received several automated email messages since, stating that my case is being reviewed by an account specialist. This is still unresolved.
Transaction XXXX : XXXX XXXX XXXX
Company Response: Closed with explanation
2019-08-02
Houston, TX
Managing, opening, or closing your mobile wallet account
Money transfer, virtual currency, or money service: Mobile or digital wallet
Complaint: Ive had a Coinbase account for several years. Two months ago they locked my account. I made several complaints and no one ever got back to me. I want my money released back to me and I want to close my account with them for their terrible customer service. I almost feel like its a scam and they stole my money.
Company Response: Closed with explanation
2019-08-01
GA
Fraud or scam
Money transfer, virtual currency, or money service: Virtual currency
Complaint: Company : Coinbase.
Been a customer for years. On XX/XX/19, I successfully transferred XXXX USD into the Coinbase account. Coinbase put a hold on the funds ( already cleared my bank! ) and then disabled my account. I have sent numerous emails to find out what the issue is, and they do not respond with more than, " we are working on it. '' When I asked if they would send my money back into my bank account, they said no.
So in essence, they are holding my money for no reason, and will not respond to my emails.
I know it's not a lot of money, but it is to me. Very frustrated.
XXXX XXXX
Company Response: Closed with explanation
2019-07-31
Quartzsite, AZ
Other transaction problem
Money transfer, virtual currency, or money service: Virtual currency
Complaint: I noticed a transfer of {$1000.00} to Coinbase which I did not initiate on XX/XX/19. I contacted Coinbase support and they started an investigation and locked down my account. I have contacted them numerous times however they will not respond to my e-mails and when calling in simply tell me to e-mail the attached case. My account has been locked down for two weeks without any updates.
Company Response: Closed with explanation
2019-07-31
CA
Other transaction problem
Money transfer, virtual currency, or money service: Virtual currency
Complaint: I attempted to send approximately {$50.00} worth of cryptocurrency XLM to my CoinBase account on XX/XX/2019. My transaction made it to CoinBase, but never made it into my account because a " Memo '' line was input incorrectly. I immediately submitted a support ticket to CoinBase notifying them that the transaction had not gone through. I received a response on XX/XX/XXXX informing me that I would receive a response in 4-5 weeks.
I followed up on XX/XX/XXXX, as it had been more than the 5-week deadline and I had not received a response. I received a response on the same day asking me to send CoinBase additional transactions to verify ownership of the account sending the funds. I lost the credentials to the account in a hardware failure and am unable to recover them, so I can not complete this request. In an case, CoinBase has already mismanaged {$50.00} that I have tried to transact to them, so requesting additional money to recover the funds that they have already lost is untenable. CoinBase refuses to refund my money until I " comply '' with their request for additional transfers.
I made multiple contact attempts by phone to try to discuss this matter with a CoinBase representative. The automated system informed me that I could not be helped over the phone on two occasions without connecting me to customer service. On a third occasion, the automated system simply terminated the call.
This is within the definition of Unfair, Deceptive, and Abusive Acts and Practices in a number of ways : - I immediately contacted the organization with a host of information that would be sufficient for a reasonable person to verify that I made the transfer, including that the memo that was sent was only 1 digit off of the correct memo.
- CoinBase has made no attempt to verify my account in any way except for requesting additional transactions ( which have a transaction fee and involve sending money to CoinBase ), stating in an email that I must " comply '' with a request to send them additional funds.
- I would have had possession of my account if CoinBase had not held the {$50.00} without responding to me for over 5 weeks.
- Most importantly, CoinBase received the {$50.00} that I clearly intended to send to myself. They stand to profit from this deception for all customers who similarly are denied their funds.
Company Response: Closed with explanation
2019-07-31
La Vernia, TX
Money was not available when promised
Money transfer, virtual currency, or money service: Virtual currency
Complaint: On XX/XX/2019, XXXX XXXX, I contacted Coinbase Support with the following email, " Hi, My name is ******* *********. I am trying to initiate a transfer from my vault to my bitcoin wallet. Unfortunately, it seems that my secondary email address has changed without me doing it. I need my secondary email address changed back to the original one ( XXXX ) so I can approve the withdrawal from my Vault.
If you need any additional information, please let me know. My phone number is XXXX. You can also reach me at either XXXX or XXXX.
Thank you, XXXX '' I also called them on the same day thru their support number on XXXX, to reiterate my concerns, and I spoke with XXXX. He told me he would immediate forward my case to a specialist team.
Coinbase emailed me the following on the XXXX of XXXX. : " Hi there, Thank you for your patience.
This issue is being addressed by case XXXX. Please use that case number to communicate with us and track current developments involving your issue.
All the best, Coinbase Support '' I have been waiting for a month for Coinbase to resolve this issue, and during this time when I have wanted to withdraw my funds, bitcoin has fallen from {$14000.00} a coin to below {$10000.00}. This type of customer service is ridiculous.
I called them today ( XX/XX/XXXX ) to inquire about my account information and my inability to withdraw my funds, and it seems that they have not been working on my case, and XXXX, the service representative I was speaking with, repeated the same lines that XXXX said, and would be unable to do anything about it.
All I want to do is withdraw my money out of this organization. Changing my secondary email address without my permission should never have happened in a company of this size. And XXXX my issue, yielded results that this has happened to many other people, yet Coinbase is doing nothing about fixing the error with their own system.
After I called them on XX/XX/2019, the sent me two emails saying that they would look into it. I have attached those 2 emails. If you look at the attachment called email2, it says " Please note that these reviews are typically completed within 5-7 business days. '' It has been over a month since they said that, and there is no progress so far.
Company Response: Closed with explanation
2019-07-31
Jupiter, FL
Other transaction problem
Money transfer, virtual currency, or money service: Virtual currency
Company Response: Closed with explanation
2019-07-30
Occoquan, VA
Managing, opening, or closing your mobile wallet account
Money transfer, virtual currency, or money service: Mobile or digital wallet
Complaint: My brother passed away on XX/XX/2019. I found that he had a Coinbase account with XXXX ETH in it. Currently worth just under XXXX XXXX dollars. I looked up what to do with a deceased account and Coinbase said they would transfer the assets to another Coinbase account pending documentation. This initial contact with the company was on XX/XX/2019.
I submitted the documentation and was given a set of instructions. I followed the instructions and they did not work. I told support I followed the instructions. They said follow the instructions. I sent pictures of what my screen looked like, wallet ID info, address, etc. Coinbase responded with ... follow the instructions. It seemed like the process was run by a chat bot as responses did not react to my messages.
I tried to call Coinbase on XX/XX/XXXX, customer service said that only a specialist can help and I should get a response shortly. Nothing. Contacted on XX/XX/XXXX. No response. I contacted them on XX/XX/XXXX. Nothing.
Coinbase is refusing any action and wrongfully holding onto the assets of a deceased individual, ignoring family requests and court documentation.
Company Response: Closed with explanation
2019-07-30
Rochdale, NY
Unauthorized transactions or other transaction problem
Money transfer, virtual currency, or money service: Mobile or digital wallet
Complaint: I have an active account on Coinbase Pro online exchange platform. On XX/XX/2019 and unauthorized user gained access somehow to my account and transferred all digital assets to unknown addresses. The USD value of my account was {$2600.00} of which I transferred directly by ACH from my bank account.
The assets were digital currencies : BTC & LTC in which I had two open limit orders. The unauthorized user closed my open trades and withdrew the digital coins to two unknown addresses. The transactions are as follows : BTC : XX/XX/2019 - XXXX XXXX XXXX BTC : XXXX USD VALUE : {$2000.00} Destination Address : XXXX Transaction Hash : XXXX LTC : XX/XX/2019 - XXXX XXXX XXXX LTC : XXXX USD VALUE : {$380.00} Destination Address : XXXX Transaction Hash : XXXX I have contacted Coinbase support but have not received any response. My account had all security protocols in place at the time. 2FA and white listed withdrawal addresses. I do not know how this happened.
Company Response: Closed with explanation
2019-07-26
Itasca, IL
Other transaction problem
Money transfer, virtual currency, or money service: Virtual currency
Complaint: Back in XX/XX/2017, my credit card company XXXX XXXX XXXX accidentally marked my 8 Coinbase transactions as fraud and blocked them as a result. The transactions totaled {$1800.00}. I received a notification of this from Coinbase through email, which stated that I may need to sort this out with my bank. XXXX pushed these transactions through a few days later after I sorted the issue out with them over the phone. However, Coinbase took a little over 6.2 Ethereum ( virtual currency ) from my account days later on XX/XX/17 to cover the credit card charge backs. This equates to {$1800.00} of purchases, which are outlined below along with their Reference ID/ARN codes. My bank statement is also attached. I have still not been refunded my money.
Amount Reference ID {$360.00} XXXX {$100.00} XXXX {$300.00} XXXX {$410.00} XXXX {$100.00} XXXX {$200.00} XXXX {$150.00} XXXX {$100.00} XXXX {$36.00} XXXX I have since then reached out to Coinbase on multiple occasions in attempts to sort out the issue. For the first year, I received no responses other than auto replies and generic emails acknowledging the inquiry. My most recent exchange occurred from XXXX to XXXX this year. During this exchange I provided them with my credit card statement and ARN transaction codes that show that funds were sent from XXXX to Coinbase. My credit card statement initially sent me Security Credits for the transactions it mistook for fraud, but the same bank statement will also show that all of those credits were reversed shortly thereafter.
I've attached my credit card statement from XX/XX/2017 along with multiple email threads of me reaching out to XXXX. The most recent email with the subject title " Case # XXXX - Case # XXXX Unresolved Since XX/XX/2017, explains the dispute the best.
Thanks, XXXX
Company Response: Closed with explanation