Coinbase, Inc

2018-02-01

Unauthorized transactions or other transaction problem

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

Complaint: On the XXXX XX/XX/2017 I transferred funds from my account on XXXX to my account on coinbase.com. The funds never showed up in my coinbase account. I contacted XXXX to ensure the transfer went through and was assured it had and to check with coinbase. I have sent numerous emails to coinbase requesting the matter to be looked at and have been ignored. I lodged a complaint with BBB and they too have tried to get the matter resolved and coinbase have ignored them. The transaction id is XXXX
Company Response: Closed with explanation

Timely Response

2018-02-01

Gardnerville, NV

Other transaction problem

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

Complaint: XX/XX/XXXX I sold XXXX BTC for XXXX after a XXXX fee to be transfered to XXXX. On XX/XX/XXXX I recieved notice that my XXXX account did not match my coinbase account, so the transfer failed. Also I recieved a second email saying XXXX blocked the transfer. I contacted XXXX and they said no attempt to send money was made. Coinbase is mistaken I contacted XXXX and they said they have no record of any attempt. A coinbase CS rep then told me the issue was how I added the account via login, not manual account/routing number input, and then backpedaled to day XXXX as a whole is not supported. XX/XX/XXXX I talked to another rep who claimed XXXX is supported. I also recieved an email saying my XXXX account is verified and enabled for transfer. Finally I recieved a refund of the BTC/USD but it is pending until XX/XX/XXXX to be transfered to my XXXX account. This is unreasonable to hold my USD like this. My account has been credited, but they are holding the money longer than any BTC transaction should take. especially at a nearly 10 % fee of XXXX. moreover, the BTC has already been sold so they are technically holding my USD until the XXXX. I am pretty much certain this is not allowed. But moreso, I am expecting this transfer to fail on the XXXX so I am proactively filing this complaint.
Company Response: Closed with explanation

Timely Response

2018-02-01

CA

Money was not available when promised

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

Complaint: I sent {$4000.00} wire transfer through my XXXX account to Coinbase on XX/XX/XXXX. After week later, I still didnt see my wire into Coinbase account. When I sent them an email since it was impossible to get them on the phone, all I got was generic email reply saying I should have funds within 10 days. Today is XX/XX/XXXX and it has been almost two weeks and I still havent received funds in my coinbase account and they do not reply to my emails anymore. Case # XXXX
Company Response: Closed with explanation

Timely Response

2018-02-01

Carlsbad, CA

Money was not available when promised

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

Company Response: Closed with explanation

Timely Response

2018-02-01

Liverpool, TX

Managing, opening, or closing your mobile wallet account

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

Complaint: Sunday morning XX/XX/XXXX Coin Base website would not accept my 2FA. I followed the guidelines and submitted front and back of drivers license and a vitural shotnof me holding my license. They already have this on file. Sunday afternoon I hear nothing. I then learned Coinbase is the one with the problem on there end with their 2FA system not working. Finally Sunday night I finally emailed customer service ( no phone number) and advised them they had $XXXXOf my money that they have locked me out of. She said she sent she would sent it to a specialist. This is Thursday and I still cannot get into my account to retrieve my money. This should be a crime at what these people are doing. I have no idea if they even have my money or have I been robbed or scammed? They have done nothing to help me. Please can you help me get my account unlocked and my money back?Warm regards XXXX XXXX XXXX
Company Response: Closed with explanation

Timely Response

2018-02-01

Flushing, NY

Fraud or scam

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

Company Response: Closed with explanation

Timely Response

2018-02-01

Austin, TX

Managing, opening, or closing your mobile wallet account

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

Complaint: XX/XX/XXXX Account Closure notice email from Coinbase regarding XXXX. I removed all my virtual currencies. However, I am not able to withdraw the USD I have on their system. XX/XX/XXXX Begin the support ticket process. Multiple telephone calls. Asked to not open multiple tickets. Wait a couple months with no help. XX/XX/XXXX Call again, account escalation. No response, no progress. 3 months pass and my USD is still tied up in Coinbase. All it would take is a simple temporary approval to add my banking information to remove it.
Company Response: Closed with explanation

Timely Response

2018-02-01

Franklin Lks, NJ

Money was not available when promised

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

Complaint: I had deposited over 25,000 dollars into XXXX. XXXX is an exchange that is owned by CoinBase. I withdrew XXXX USD Monday, XX/XX/XXXX. I never received my money to this day XX/XX/XXXX. I withdrew XXXX USD Tuesday, XX/XX/XXXX. I never received my money to this day XX/XX/XXXX. I withdrew XXXX USD Wedneday, XX/XX/XXXX. I received it the following day Thursday, XX/XX/XXXX. I have not received my XXXX USD to be credited to my USA bank in 44 days ( 29 business days ). I used ACH which usually only takes 1-3 days. I sent multiple emails to CoinBase/XXXX regarding my issue as follows and I've attached the contents in the supplemental documents I've attached. XX/XX/XXXX email sent to support website of CoinBase describing the issue. XX/XX/XXXX second email sent to support. Generic email reply without any answer to my specific problem. XX/XX/XXXX and 2 email sent to support. XX/XX/XXXX, I call XXXX by phone and they say they will escalate the issue and to please not send any more emails. " For fastest response, please do not create multiple tickets about your issue. '' - XXXX XXXX XXXX XX/XX/XXXX XXXX No change in status now. I called XXXX two days ago and they said they've escalated it as far as they can and that I will just need to wait. I am missing XXXX dollars and CoinBase has been very unresponsive and not reassuring if I will receive my money. I am a U.S. customer with a U.S. bank and this is a U.S. company. An ACH that usually takes 1-5 days to send should not take one month.
Company Response: Closed with explanation

Timely Response

2018-02-01

Bergenline, NJ

Unauthorized transactions or other transaction problem

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

Company Response: Closed with explanation

Timely Response

2018-02-01

Magnolia, TX

Money was not available when promised

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

Complaint: Still have not received $ XXXX withdraw made from coinbase through XXXX account. XX/XX/XXXX - Withdraw was made at XXXX for {$50000.00} Confirmation email has estimated arrival date XX/XX/XXXX XX/XX/XXXX emailed support case # XXXX Other emails sent XX/XX/XXXX amount still not present in account.
Company Response: Closed with explanation

Timely Response

2018-02-01

Other transaction problem

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

Complaint: I was sending Ethereum via my wallet on Coinbase, XXXX XX/XX/2018. After a few failed attempts on verifying my ID to accelerate my transaction as it was time sensitive, my account was locked without prior notice. A ticket has been sent but to no avail. I have tried reaching out on social media platforms including their emails to also no avail.
Company Response: Closed with explanation

Timely Response

2018-02-01

Garrett Park, MD

Money was not available when promised

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

Complaint: I wired {$30000.00} to Coinbase on XX/XX/XXXX. The funds didn't show up on my account. Since then, the customer service looked at the cases a couple of times to collect more information which I provided in time. But somehow, they closed my case on XX/XX/XXXX without any real resolution ( I haven't got my funds back anywhere ). I have reopened my case but after four business days no one has followed up my case. My support case ID is XXXX.
Company Response: Closed with explanation

Timely Response

2018-02-01

Berthoud, CO

Confusing or missing disclosures

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

Complaint: I am trying to remove a cash balance from my Coinbase account - USD Wallet. My bank isn't listed in their list of banks. Can't contact support because they are on some sort of crisis mode and my problem is not listed on their priority list. Went through all the automated support options to no avail. It is under {$10000.00} so I can not do a wire transfer. They took their fees and all I am getting is a wall. Just want my money in my hands. In my wallet there is one button that says " withdraw. '' When you click it you are sent to a list of banks. My bank is not there. How do I get my money out? My email with coinbase is XXXX XXXX
Company Response: Closed with explanation

Timely Response

2018-02-01

Houston, TX

Money was not available when promised

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

Company Response: Closed with explanation

Timely Response

2018-01-31

San Jose, CA

Money was not available when promised

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

Complaint: I sent {$13000.00} from XXXX XXXX XXXX XXXX Coinbase Inc on XX/XX/XXXX, here is the receipt, We have successfully sent the following transfer : XXXX Item # : XXXX Amount : {$13000.00} To : Coinbase, Inc Fee : XXXX Send on Date : XX/XX/ Service : Same Day ********************************************* Coinbase owns XXXX, and it promised that " Bank wire transfers may be credited to your XXXX account on the same day if submitted by XXXX PT. Otherwise, funds will be available after one business day. '' I've contacted XXXX and it's been about 2 days but nothing shows in my account. My XXXX account is XXXX XXXX
Company Response: Closed with explanation

Timely Response

2018-01-31

Soquel, CA

Other transaction problem

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

Complaint: Coinbase sold my bitcoin and didn't give me the proceeds. Coinbase 's records show for XX/XX/XXXX, a sale of XXXX bitcoin for {$49000.00} using my XXXX XXXX account. The transaction is marked as " completed '', but as of XX/XX/XXXX no funds have arrived at XXXX. Reference code XXXX. ( Screenshot XX/XX/XXXX at XXXX.XXXX ) .-.-.-. Previous sales of bitcoin resulted in successful transfers of funds to that same XXXX account on XX/XX/XXXX, XXXX, and XXXX, so a failure of the ACH transfer process is implausible. .-.-.-. My attempts to recover the missing {$49000.00} : .-.-.-. XX/XX/XXXX : I inquire through Coinbase 's online support system about the missing {$49000.00}. The case is assigned Case ID XXXX. ( Screenshot XX/XX/XXXX at XXXX ) .-.-.-. XX/XX/XXXX : Coinbase email tells me someone is " working with a specialist '' to address the problem. .-.-.-. XX/XX/XXXX : I ask by email when I might expect to hear from Coinbase. .-.-.-. XX/XX/XXXX : I phone Coinbase 's support number, but can not get any concrete information about schedule. .-.-.-. Previous history that might be relevant : XXXX. A previous mixup on Coinbase 's part might have contributed to the present problem : .-.-.-. XX/XX/XXXX : I sell XXXX bitcoin from my Coinbase account, which should result in a deposit of {$49000.00} into my XXXX account. No money arrives. ( Screenshot XX/XX/XXXX at XXXX ) .-.-.-. XX/XX/XXXX : Coinbase notifies me by email that " this transaction [ ... ] was canceled by your bank '', and restores the XXXX to my Coinbase account. I visit my bank, where energetic inquiries can not find any evidence that a deposit was attempted. Alarmingly, the email is phrased in a way that suggests that Coinbase thought I was purchasing, not selling, the XXXX bitcoin. .-.-.-. XX/XX/XXXX : I email Coinbase to point out, emphatically, the possibility that they had mixed up buying and selling. Case # XXXX. ( Screenshot XX/XX/XXXX at XXXX ) .-.-.-. XX/XX/XXXX : I start moving bitcoin from Coinbase to a different bitcoin exchange, XXXX. My first tentative transfer is at XXXX PST. When I attempt to transfer the rest of my bitcoin, at XXXX PST, I notice that about 3 bitcoin are missing, and that a transaction has been recorded for the sale of XXXX bitcoin and the deposit of {$49000.00} to my XXXX account. This is the deposit that was never made. ( ( Hey, CFPB webmaster : this would be much more readable if you gave us some formatting ability. ) )
Company Response: Closed with explanation

Timely Response

2018-01-31

Houghton, WA

Fraud or scam

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

Company Response: Closed with explanation

Timely Response

2018-01-31

Burlingame, CA

Other transaction problem

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

Complaint: TodayXX/XX/2018 I attempted withdrawing US Dollars from my account in Coinbase. After attempting to withdraw, I receive an email saying my bank is cancelling the deposit. However, my bank XXXX XXXX, states they never received any deposits nor blocked or cancelled any. So I tried Withdrawing again from Coinbase, and depositing into my XXXX XXXX account. Again, they say bank cancelled deposit, again bank denies. I lost $XXXX already on this, nobody at Coinbase responds, its a shame they even are licensed. Please help me get my money back.
Company Response: Closed with explanation

Timely Response

2018-01-31

Hazleton, IN

Money was not available when promised

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

Complaint: I am still missing my wire transfer and it was NEVER credited to my coinbase account. Details are as follows:Name on a/c: XXXX XXXXAmount: $XXXXSending Bank: XXXX XXXX XXXX XXXXDate Sent: XX/XX/18Fed Ref for wire tracking: XXXXReceiving Bank: XXXX XXXX XXXXRecipient: CoinbaseCoinbase Ref #: XXXXMy telephone # XXXXMy funds have been in limbo too long and I was charged a $XXXX fee for wiring these funds. This is very disappointing & difficult to understand how it could possibly take this long to credit or deposit funds into my Coinbase account or refund my wire back to my bank acct.I have called XXXX XXXX XXXX, they acknowledge receipt of the funds and stated this is a Coinbase problem. The only way to contact Coinbase is "online" support tickets, which they send preformatted responses to customer inquiries. No one has taken ownership of this issue nor replied where my missing funds have gone. Coinbase claims to be FDIC insured. How can a bank or brokerage firm be govt regulated and operate with impunity?
Company Response: Closed with explanation

Timely Response

2018-01-31

Boston, MA

Managing, opening, or closing your mobile wallet account

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

Complaint: When I signed up for the account I set up a two factor authentication with a phone number I have since lost. To recover access Coinbase requires and ID. While I am residing in the US I am a XXXX XXXX. I have sent them a XXXX ID, XXXX drivers license, XXXX passport, Massachusetts Liquor ID ( which is missing one of my last names ), and 2 statements from my bank with my name and address. Yet, I have still not been granted access to my account and am not receiving responses from Coinbase.
Company Response: Closed with explanation

Timely Response

2018-01-31

Great Neck, NY

Money was not available when promised

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

Company Response: Closed with explanation

Timely Response

2018-01-31

Silver Spring, MD

Other transaction problem

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

Company Response: Closed with explanation

Timely Response

2018-01-31

Chino, CA

Fraud or scam

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

Company Response: Closed with explanation

Timely Response

2018-01-31

San Gabriel, CA

Money was not available when promised

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

Complaint: As I write this, today is XX/XX/XXXXThis has happend one 3 different occasions. On XX/XX/XXXX I place a sell for XXXX, that coinbase shows as completed on XX/XX/XXXX On XX/XX/XXXX a sell for XXXX shows completed on XX/XX/XXXX On XX/XX/XXXX a sell for XXXX show completed on XX/XX/XXXX None of these have been paid out, Ive attempted to reach coinbase via email and call support and they do not respond to my attempts to reach out.
Company Response: Closed with explanation

Timely Response

2018-01-31

Unauthorized transactions or other transaction problem

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

Complaint: I have deposited XXXX euros into my coinbase account on XX/XX/XXXX through wire transfer and it is still nowhere to be seen. My bank has verified that the amount has already been sent. Coinbase had a guarantee that I will receive my funds within 3-5 business days, which is obviously not being fulfilled right now.I have tried contacting them through email inquiries on XX/XX/XXXXand XX/XX/XXXX, of which I was promised a reply within 24 hours, which was again not fulfilled. I finally did head back from Coinbase on XX/XX/XXXX, but the reply only included generic troubleshooting to ensure my wire transfer does not have incorrect detail, and also notice that my case was escalated to a "specialist". I have replied to this email, providing further details and proof of transfer, but have yet to hear back from Coinbase despite multiple follow-ups.
Company Response: Closed with explanation

Timely Response