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 38
2018-02-06
Money was not available when promised
Money transfer, virtual currency, or money service: Virtual currency
Company Response: Closed with explanation
2018-02-05
Federal Way, WA
Money was not available when promised
Money transfer, virtual currency, or money service: Domestic (US) money transfer
Complaint: I sent a wire transfer of {$100000.00} to Coinbase onXX/XX/2017 to invest in bitcoin. Coinbase 's website claims that deposit of wire transfer will automatically appear in coinbase account in 2 or 3 business days. However, it has been almost 8 weeks now, and the money still has not shown up in my Coinbase USD account, nor was it returned to my bank account.
I have sent Coinbase several tickets and received replies which seemed to be automatically generated by computer. Those replies repeatedly claim that wire transfer will automatically appear in my account and ask me to close the ticket, despite the fact that I have never seen the $ XXXX deposited in my account!
Six weeks later, on XX/XX/XXXX, after I threatened to file a complain on CFPB, I finally got a reply with a name signed at the end of the email. A support team member named XXXX said that he would work with a specialist on my case. My hope was up, I thought this would be solved finally. Yet almost two weeks later, my case is still not resolved and I have not yet received any meaningful response with case specific information despite my repeated request to them. The only response I got was one email which apologizes for the delay and asks me to reply if I still have not received my fund. Of course, I have not received my fund. I replied and still nothing happened till today!
This has been a nightmare. $ XXXX is not a small amount of money, 8 weeks are enough for a simple wire transfer. Yet I could not even get any meaningful reply on my case from Coinbase. All the replies seem to be copied from a template or simply AI generated reply. I hope that my complain through CFPB will help me to get my money back!
Company Response: Closed with explanation
2018-02-05
WI
Money was not available when promised
Money transfer, virtual currency, or money service: Virtual currency
Complaint: XX/XX/2018 This is written evidence of a felony theft of funds.
The crime has been committed by Coinbase, located at XXXX XXXX XXXX # XXXX XXXX XXXX, CA XXXX. Coinbase is a financial institution dealing in the trading of US dollars and several crypto-currencies.
Currently Coinbase is governed by and in violation of The Bank Secrecy Act by refusing to provide some records to their investors.
The USA Patriot Act by refusing to identify or allow communication with a designated a compliance officer.
Most states Money Transmission Laws and Corresponding Regulations.
Coinbase recently encouraged me ( and all of their investors ) to move our finds from their Electronic Wallet to their Electronic Vault, claiming our funds will be more secure and better protected. When moving those funds to the Electronic Vault, they required a secondary email for future authorization to move funds back to our Electronic Wallet. And, when attempting to make such a transfer or withdrawal, they refuse to send an authorization to our secondary email address ( the same one as they initially required ) so that we are able to authorize any funds to be transferred or withdrawn from Electronic Vault.
To say it more clearly, imagine if your bank suggested you take your money out of your wallet and put in their vault. Then, told you, we cant let into the vault and we cant go in the vault for you. However maybe we can help you at some time in the future. Essentially, that is what is going on here.
In short, they own and control our funds and have ( for 2 months ) replied to emails with a link to the Coinbase FAQs web-page, which does not address the issue. When calling in, they say ; we have lots of customers with service issues, well send your case to a specialist. However, the specialist will not be identified and any request to speak with a specialist, supervisor, company executive, or designated a compliance officer, is absolutely and firmly denied.
This issue is effecting hundreds of people in the region, thousands in the state, and 10s of thousands nationwide. How much are we talking about? My investment alone was over {$170000.00} US dollars when I attempted withdrawel. As of today the investment is valued at {$97000.00}.
It seems Coinbase is operating above the law and they are conspicuously unavailable to provide solutions.
I would caution you to look back on the financial travesty of the XXXX XXXX situation to understand the devastating personal loss that could be caused if Coinbase continues to break the law and turn its back on its investors.
This is not a case of bad customer service, or a glitch in the system, it is a case of stonewalling investors and blocking investors from their funds as long as the see fit or even worse permanently.
I have stacks of emails and records of phone conversations, all claiming the same thing ; we have escalated your case and it should be resolved soon. ( 4 months from the day I was locked out and 1 month of daily communication - still no access to my finds. ) I am available to answer any of your questions via phone conference, or email in order to help expedite any assistance you can provide before the worst possible scenario happens even when it could have been avoided.
I hope that you will take this matter seriously and I thank you in advance for your consideration.
Company Response: Closed with explanation
2018-02-05
Blairstown, IA
Money was not available when promised
Money transfer, virtual currency, or money service: Domestic (US) money transfer
Complaint: Here is the exact email I sent to Coinbase to figure out where my {$1500.00} wire transfer is. It was completed by my bank on XX/XX/17 and I have still not yet received my funds. This is unacceptable and I believe your Bureau has had to deal with this many times : Hello, My name is XXXX XXXX XXXX. I sent a wire transfer on the date of XX/XX/2017 and have not received funds in my coinable/XXXX account. The wire was sent from a bank located in the United States for {$1500.00} and should be credited to my account already. I understand that your company has been struggling to keep up with these wires transfers but I've seen on XXXX forums that international users have gotten their wires deposited into their account in a few business days. It has been too long and I want to know where my funds are. I work closely with the office of the ombudsperson at the XXXX XXXX XXXX and do not want to take this case to the next level. It would truly be a burden for the both of us. So if you could please look into the situation as soon as possible I would be more than grateful. If not, I will have to take legal action.
Thank you, XXXX XXXX XXXX This was the first email. Ive sent multiple emails and only get automated responses about a specialist looking into it. But no results yet and it has been over a month. Ive emailed, called, and posted to forums many times but have not yet received my funds. I am a XXXX XXXX and that money is very important to me to survive and be able to pay for school. I need it ASAP to cover
Company Response: Closed with explanation
2018-02-05
Key Biscayne, FL
Fraud or scam
Money transfer, virtual currency, or money service: Domestic (US) money transfer
Complaint: Hi my name is XXXX XXXX user in coinbase/XXXX XXXX XXXX, my email address at coinbase is XXXX On XX/XX/XXXX I made a domestic transfer for XXXX $ from my commercial account named XXXX XXXX XXXX from XXXX XXXX, and I forgot put the Recipient Instructions/Message XXXX here are the payment details Username : XXXX Entered on : XX/XX/XXXX XXXX XXXX Company : XXXX XXXX XXXX User Name : XXXX XXXX Approved 1 on : XX/XX/XXXX XXXX XXXX BankReceived on :XX/XX/XXXX XXXX XXXX First Confirmation Number : XXXX Entry Method : Freeform Status : Bank Received Account Type : ABA Bank Code Look-up Bank Code : XXXX Bank Name : XXXX XXXX XXXX Beneficiary Bank Address 1 : XXXX XXXX XXXX XXXX Beneficiary Bank Address 3 : XXXX XXXX XXXX State : NY Account Number : XXXX Payment Total XXXX USD to 1 Beneficiary on XX/XX/XXXX I've sent several e-mails. they keep giving me an automatic response. they haven't tried to contact me. I need my money back or id like to have the funds on my XXXX account.
Company Response: Closed with explanation
2018-02-05
Orion Twp, MI
Problem adding money
Money transfer, virtual currency, or money service: Mobile or digital wallet
Complaint: I purchased {$200.00} worth of Ethereum totaling XXXX ETH after fees off Coinbase. There was an error and I received an email cancelling the order. The occurred on XX/XX/XXXX. My bank account was debited {$200.00} and the charge is not reversed. In my transactions, I see the amount purchased and another event called " Sent to coinbase '' showing the purchased Ethereum transferred out of my account. Coinbase has not responded since.
Case # XXXX.
Company Response: Closed with explanation
2018-02-05
Las Vegas, NV
Money was not available when promised
Money transfer, virtual currency, or money service: Domestic (US) money transfer
Company Response: Closed with explanation
2018-02-05
Other transaction problem
Money transfer, virtual currency, or money service: Virtual currency
Complaint: I opened an account in XXXX on XX/XX/XXXX. I transferred XXXX to Coinbase, and I bought a virtual currency ( about XXXX Ethereum ) on XX/XX/XXXX.
That same day I tried to transfer that virtual currency to another platform ( XXXX ) and my account was locked.XXXXI opened a support ticket, and I got an automated reply on XX/XX/XXXX. After that I got another reply on XX/XX/XXXX, saying that there were going to investigate it. It's been more than 3 weeks since that but still no answer.
Following their instructions, I didn't open another ticket. I just replied the support email a couple of times to see if they were doing something but still no response.
Company Response: Closed with explanation
2018-02-05
Carmel, CA
Other transaction problem
Money transfer, virtual currency, or money service: Domestic (US) money transfer
Complaint: In XX/XX/2017 I created an account at Coinbase.com, with the intention of purchasing some cryptocurrency. I passed my identity verification screening, which included adding my name, address, bank account information, credit card and even uploading my driver 's license to confirm my address and age. I was allowed to make multiple deposits of XXXX, XXXX, XXXX and XXXX dollars.
I purchased some cryptocurrencies, paying fees each time, then sold them, again, paying coinbase a fee.
Once the funds for the transactions were released into my coinbase cash account, I went to make a withdrawal of said funds ( total amount in my account is {$1800.00} ), but was told that I would need to " verify my identity '' using their supposed " 3rd party verification service '', which required even more details than were required to fund the account. I went through the steps advised, entered all of my information, including new info ( last 4 of SSN ) but each time the provider said that " verification could not be completed at this time ''. I attempted to complete this procedure over FIFTY times. I emailed coinbase over a dozen times, have direct messaged them on XXXX and yet have gotten no help ( only automated replies, or suggestions to continue changing the information I enter into their verification system, to no avail ), and my funds remain frozen. In a last ditch effort, I went to CLOSE my account, so that I would finally get MY OWN MONEY, but even trying to close an account requires this broken verification. They won't even let me close the account or withdraw my funds!!! This is a significant amount of money, that belongs to ME, and it is criminal and negligant for coinbase to deny it to me, when I have done everything within reason to verify who I am.
It has been about 3 weeks since this debacle has started, and I am finally desparate enough for outside help ( Hence me contacting you, Consumer Finance Protection ).
Thank you for your help
Company Response: Closed with explanation
2018-02-05
Co Spgs, CO
Other service problem
Money transfer, virtual currency, or money service: Virtual currency
Company Response: Closed with explanation
2018-02-05
Money was not available when promised
Money transfer, virtual currency, or money service: International money transfer
Company Response: Closed with explanation
2018-02-05
Arlington, TX
Other service problem
Money transfer, virtual currency, or money service: Virtual currency
Company Response: Closed with explanation
2018-02-05
Other transaction problem
Money transfer, virtual currency, or money service: Virtual currency
Company Response: Closed with explanation
2018-02-05
East Troy, WI
Other transaction problem
Money transfer, virtual currency, or money service: Virtual currency
Complaint: I initiated a request to move all of my Ethereum from my vault to my wallet with the intention of selling on XX/XX/XXXX. At the time, the value of my investment was almost {$10000.00}. Coinbases delay has caused me significant losses ( approximately 40 % ). I never received a secondary confirmation e-mail from Coinbase, so Ive been unable to finalize the withdrawal.
I called Coinbase on XX/XX/XXXX to have a ticket opened on the issue, and was told it had been escalated to the highest level possible, and that details were included. The representative did not add any level of detail, even though they said they could see the issue was coming from a glitch within Coinbase. I then went in on XX/XX/XXXX to add the additional detail so the issue could be resolved.
On XX/XX/XXXX, I still hadnt heard back, so I called again. This time, the representative stated that due to a backlog, it would likely be several weeks before I heard anything back from the company, and additional time to resolution. I find this completely unacceptable every day Im unable to withdraw, I am losing money. This has caused me a great deal of personal and financial stress to say the least.
Company Response: Closed with explanation
2018-02-04
Grover Beach, CA
Other transaction problem
Money transfer, virtual currency, or money service: Domestic (US) money transfer
Complaint: I made a wire transfer to Coinbase in the amount of {$6000.00} on XX/XX/2017 from my business account. However, because the name on my Coinbase account did not match my business account the wire was supposed to be reversed. I received emails from Coinbase stating that my wire would be reversed. To this day I still have not received my money back. I have called and emailed several times with absolutely no help, not even one response from them besides automated email responses. I provided them with dates and the wire transfer transaction number. I saved all their emails and all my email attempts to get some support. My Coinbase case number is XXXX.
Company Response: Closed with explanation
2018-02-04
San Francisco, CA
Money was not available when promised
Money transfer, virtual currency, or money service: Domestic (US) money transfer
Complaint: Initiated a wire transfer from Coinbase to my bank account in early XX/XX/2017 for the amount of {$10000.00} USD.
Despite having opened two separate support tickets with Coinbase, and sending multiple followups to each, we have not received more than one ( auto-generated ) response from Coinbase, merely telling us to wait a few days longer.
It has now been almost two months ( 60 days ), and still no further reply from Coinbase, and the transaction has not yet been sent to our account. This delay and non-responsiveness is unacceptable.
Company Response: Closed with explanation
2018-02-04
Iowa City, IA
Money was not available when promised
Money transfer, virtual currency, or money service: Virtual currency
Company Response: Closed with explanation
2018-02-04
Foothill Ranch, CA
Money was not available when promised
Money transfer, virtual currency, or money service: Virtual currency
Complaint: Hi, My name is XXXX XXXX. The related company is coinbase. My issue is that I am unable to withdraw USD back into my bank account from my Coinbase wallet. The reason being is I do not have an SSN so I can not verify my account. However, the coinbase didn't require my SSN before I wired money into my account. I'm a XXXX XXXX in XXXX, XXXX and I don't have ssn, but I have verified my driver license. This is so serious because I just wired XXXX dollars into my usd wallet. The following are my case numbers : XXXX, XXXX. The case has been escalated and I was told that I will be approached by a specialist. However, it has been weeks and there has been zero response. Thank you so much for your time.
Sincerely, XXXX XXXX XXXX : XXXX XXXX
Company Response: Closed with explanation
2018-02-04
Atlanta, GA
Money was not available when promised
Money transfer, virtual currency, or money service: Domestic (US) money transfer
Complaint: coinbase.com has to give money to me as part of selling virtual currency. coinbase claims they initiated below wire transfers to my XXXX XXXX XXXX bank account. but money never arrived in my bank account.My bank clearly says they have not received the wires from coinbase. I have contacted coinbase many times but they never resolve the issue. please help me to get my money 1 ) {$2700.00} USD on XX/XX/2018 reference no XXXX 2 ) {$1300.00} USD on XX/XX/2018 reference no XXXX 3 ) {$240.00} USD on XX/XX/2018 refernce no XXXX
Company Response: Closed with explanation
2018-02-03
Tampa, FL
Money was not available when promised
Money transfer, virtual currency, or money service: Virtual currency
Complaint: I opened my Coinbase account in XX/XX/XXXX. Last time I had access to my account was about a year ago. I have been unable to acces the the account because I have a new phone number. Their website verification has been broken for at least 2 months.
After a few weeks of trying to verify my identity through their site, I started a tech support ticket on XX/XX/XXXX.
They rep had been unhelpful and had not responded in several weeks - no fix has been made.
Coinbase has effectively stolen my money/bitcoin. They have no intention of helping me get into my account and releasing my funds.
You can reference Coinbase support case number : XXXX Please help me.
Sincerely, XXXX XXXX
Company Response: Closed with explanation
2018-02-03
Spring Hill, FL
Other transaction problem
Money transfer, virtual currency, or money service: Domestic (US) money transfer
Complaint: Coinbase has {$4500.00} of my money more than a month after they said they returned it. On XX/XX/XXXX I wire transferred {$4500.00} from my bank to my XXXX account at Coinbase, who said on XX/XX/XXXX the wire was rejected and would be returned because of a name mismatch. I hadn't received the money by XX/XX/XXXX so I filed a complaint with the CFPB. On XX/XX/XXXX, exactly 15 days later, Coinbase told CFPB that the money was returned on XX/XX/XXXX and that the case was resolved. Further, Coinbase told me and the CFPB that I should ask my bank where the money was and they provided a FED reference number. My bank could not find the money and said that I should ask Coinbase to trace it.
Company Response: Closed with explanation
2018-02-03
Palisades Park, NJ
Other transaction problem
Money transfer, virtual currency, or money service: Virtual currency
Company Response: Closed with explanation
2018-02-03
ID
Money was not available when promised
Money transfer, virtual currency, or money service: Virtual currency
Complaint: I've deposited {$2000.00} into an account on Coinbase. Two weeks ago I was logging into my account and I wasn't able to log in. I submitted a service ticket. Since then I've submitted close to 50 emails, blog posts and made multiple phone calls. The only thing I've received from them are automated email messages and their phone representatives tell me that the issue has been escalated. I have no visibility to my funds and can not remove them from the market. I've spent countless hours trying to find a way to get their attention only to find thousands of more people that are having similar issues. Coinbase took my money and has charged me plenty fees and now are keeping from my funds. People need to know about this before they invest their hard earned money. The emotional toll that this has taken on me has been severe.
Company Response: Closed with explanation
2018-02-03
Simpsonville, SC
Money was not available when promised
Money transfer, virtual currency, or money service: Virtual currency
Company Response: Closed with explanation
2018-02-03
Federal Way, WA
Managing, opening, or closing your mobile wallet account
Money transfer, virtual currency, or money service: Mobile or digital wallet
Complaint: Formatted phone couldn't access account Accidentally click locked thinking it was unlock by text " Account is disabled '' please contact support Submitted ticket XX/XX/18 and made calls almost throughout the months No resolution or care about issue No response to e-mails always get same response " specialist or escalated ticket '' They have my all money tied up so I'll taking losses as it goes since its cyptocurrency I am unable to close account, move funds, or transfer to new account I did nothing wrong, illegal, or unauthorized access to be investigated for this LONG Offer to provide ID, SSN, ALL transactions, and whatever info they need to PROVE
Company Response: Closed with explanation