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 41
2018-01-31
Money was not available when promised
Money transfer, virtual currency, or money service: International money transfer
Company Response: Closed with explanation
2018-01-31
Mill Creek, IN
Other transaction problem
Money transfer, virtual currency, or money service: Domestic (US) money transfer
Complaint: On XX/XX/XXXX @ XXXX XXXX PST I sent an email to coinbase support due to my missing wire transfer that was sent on XX/XX/XXXX by my bank. AS of this date XX/XX/XXXX my wire transfer has not made it to my coinbase account nor has it been returned. My bank and I have made numerous attempts to get the wire transfer returned and according to coinbase web site all " back logged XXXX '' issues have been resolved yet here I am still waiting for the return of my {$10000.00} wire transfer. After no help from Coinbase and reaching out to Coinbase bank XXXX XXXX without success ... My bank sent an email compliant to compliance officer at XXXX XXXX on XXXX XXXX, XXXX and have heard nothing as of today. The outgoing wire info was sent to compliance officer to investigate. On XX/XX/XXXX I rec 'd an email from " XXXX '' from coinbase customer service sending " apologies '' for delay in response and if my issues with wire transfer had not been resolved to respond to the email and they would resolve it ASAP. I immediately responded and as of today no further response and my {$10000.00} wire remains in their hands not mine! I want my wire transfer returned immediately. They said in XXXX if the account name, acct number etc didn't match exactly all wires would be immediately rejected and returned. My husband sent the wire transfer to my coinbase account and the bank put his name instead of mine. This error should have immediately caused the wire to be returned according to both banks & coinbase web site ... but it was not nor was it put in my coin base account or my husbands coin base account. Coinbase takes 45-50 mins to answer the phone and when they finally answer the phone no one can help nor can they forward you to anyone that can help ... .they simply say you have to wait until you receive an email to your concern. I have attached many documents and have many more if needed to prove my case.
Company Response: Closed with explanation
2018-01-31
Palm Springs, CA
Money was not available when promised
Money transfer, virtual currency, or money service: Virtual currency
Complaint: I have had XXXX XXXX stored in my account at Coinbase for several years. On XX/XX/2017, I submitted a " sell '' order on Coinbase for the full amount, asking Coinbase to transfer proceeds to my XXXX XXXX checking account that is linked. Coinbase confirmed the sale would generate {$170.00}, and that they would deposit that amount net their {$2.00} fee ( total {$170.00} ) into my checking account by XX/XX/2017. However, the money never arrived. I submitted an inquiry immediately and never heard back. I submitted another inquiry and heard back two weeks ago that they are investigating and would get back to me, but they have yet to do so. There are many complaints online that they have had issues with missing money transfers and no response to inquiries, and apparently only a CFPB complaint gets them to respond.
Company Response: Closed with explanation
2018-01-31
Enterprise, AL
Managing, opening, or closing your mobile wallet account
Money transfer, virtual currency, or money service: Mobile or digital wallet
Company Response: Closed with explanation
2018-01-31
Money was not available when promised
Money transfer, virtual currency, or money service: Virtual currency
Complaint: Hi. I have sent XXXX euros from my account via XXXX transfer to COINBASE, XXXX.LTD.
40 days ago on the date XX/XX/2017 from my bank account in the " XXXX XXXX XXXXXXXX XXXX XXXX ''. XXXX XXXX : XXXX The time for arrival is 1-3 days and still i have nothing listed in my account.
I have contacted them 3 times. I have sent them the photo of the invoice with them responding by automated bot.
These are the case numbers of my complaints : XX/XX/XXXX : XXXX XX/XX/XXXX : XXXX XX/XX/XXXX : XXXX Most of the times i get useless responses telling me to send them more money to verify my account. I dont want to send more money i want them to find the deposit i already made.
Company Response: Closed with explanation
2018-01-31
Other transaction problem
Money transfer, virtual currency, or money service: International money transfer
Complaint: Good evening, I recently opened an account with a company called Coinbase.i gave all of my information via the internet i.e. Proof of I'd, bank details, address etc. All was ok.
To verify my bank account they asked for a small amount to be deposited which I did, after three weeks of trying to get in touch by email and phone I have given up. The last email I replied to I sent a copy of my bank statement showing the money had left my bank account, my bank also confirm it has gone into The coinbase bank account. I had an email from a gent called XXXX who said it would be sorted out, but still not. My bank is still showing unverified on my coinbase account so am unable to transfer any of my money from them.I am a XXXX citizen and am regulated by the XXXX. Who regulate finance and banking within XXXX and in my line of work this would never happen. Please can you assist as I'm running out of patience.
Many thanks
Company Response: Closed with explanation
2018-01-31
TX
Unauthorized transactions or other transaction problem
Money transfer, virtual currency, or money service: Mobile or digital wallet
Complaint: In late XX/XX/XXXX I set up an account at Coinbase and after doing the confirming my bank account process I bought {$1000.00} of bitcoin.
I did not set up reacquiring payment but Coinbase started doing daily withdrawals of {$1000.00} on XX/XX/XXXX ; XX/XX/XXXX and three on XX/XX/XXXX.
I went to my bank on XX/XX/XXXX and put stop payment on any more transactions from Coinbase.
I tried calling Coinbase at ( XXXX ) XXXX but was put on hold for an hour or more and gave up.
On XX/XX/XXXX I emailed Coinbase through XXXX about the situation.
Doing an internet search, I found other phone numbers with one being XXXX which looked legitimate. On XX/XX/XXXX I called XXXX and was told they cant look up my account and needed to log onto my computer remotely to view my account which should have been a red flag. I allowed them access my computer and they went to my Coinbase account and set up {$940.00} to be sent to m
y Bitcoin address which was not what I was asking them to do. It showed as a test?
They moved other funds over from my Bitcoin wallet supposedly to be sent back to my bank.
On XX/XX/XXXX I called XXXX and talked with XXXX who I allowed to access my computer and my Coinbase account. I got know where and asking for a supervisor then talked with XXXX and requested to put the {$940.00} back into my Bitcoin wallet.
I called XXXX back on XX/XX/XXXX and was told the moved funds of {$4100.00} was to be sent back to my Bitcoin wallet. It was not.
On XX/XX/XXXX I called XXXX and talked with a XXXX who accessed my computer and went to my Coinbase account said that both the {$940.00} and the {$4100.00} would be put back into Coinbase Bitcoin wallet by the XX/XX/XXXX. At that time I could sell some with it depositing into my bank and it should be there within an hour! Noting was deposited back into my personal bank account or my Bitcoin Wallet?
In reviewing my account daily nothing was new except for confirmation details showing COMPLETED but all the funds were in the same place.
On XX/XX/XXXX I called Coinbase at XXXX ( XXXX ) XXXX and after being on hold for over an hour I gave up and hung up. I called several more times and was put on hold for extended periods of time before I hung up.
On that same day XX/XX/XXXX I did another internet search and from XXXX I got a number for Coinbase as XXXX.
I called that number where they answered as Coinbase and I talked with XXXX XXXX who I allowed to access my computer remotely and reviewed my Coinbase account. I asked for a supervisor and talked with a XXXX.
I was assured that everything was taken care of and not to worry. THEN they accessed my computer while I was away from my desk and got into my XXXX account and made unauthorized purchases. I was able to get two reversed, but one I was not able to cancel or reverse because the transaction came from my IP address.
I immediately called my computer tech and had him remove any programs where someone could access my computer.
I went into my Coinbase account and contacted support by email with all the details of my situation.
On XX/XX/XXXX, XXXX XXXX I called Coinbase at XXXX and using option Account Compromised I was put on hold and finally talked with XXXX. I told him everything and he disabled my account as Comprised and would escalate to an internal investigate.
I got email from XXXX, XXXX : working with a specialist to address it properly. In that email there was ; Follow this link to view the status of your case and add additional comments : http : //support.coinbase.comXXXX In following that link I always get a page with Partial System Outage : A fix has been implemented and we are monitoring the results I replied to that email with the details of my Coinbase problems.
On XX/XX/XXXX I got email from XXXX saying Thank you for contacting Coinbase.
In an effort to more quickly respond to requests, directly emailing XXXX is no longer enabled.
To get a response from our support team, please visit the following page and complete the request form : https : //support.coinbase.comXXXX Please use the email address that you use to log in to Coinbase, select the appropriate category, and include as much detail as possible when submitting your request.
Thanks in advance for your patience and support.
I went to https : //support.coinbase.comXXXX and it is a big run around getting me know where!
On XX/XX/XXXX, XXXX XXXX I called Coinbase at XXXX ; Finally talked with XXXX, who saw my account escalated to specialist, priority 10. I got and email from XXXX with Case # XXXX.
Email below : Ive just checked your account and can confirm that your request has been properly escalated.
For fastest response, please do not create multiple tickets about your issue.
We respond to cases from oldest to newest, and creating new tickets only makes your case appear new again, moving it to the back of the line.
I understand how frustrating it can be to wait, but this is the fastest way to receive a response.
If your request is cleared, well send you an email.
If you need any additional assistance in the meantime, please let us know.
This message was sent to XXXX in reference to Case # XXXX Follow this link to view the status of your case and add additional comments : http : //support.coinbase.comXXXX Again, in following the link I got the page with Partial System Outage : A fix has been implemented and we are monitoring the results XX/XX/XXXX ; XXXX XXXX called I called Coinbase at XXXX ; Finally talked with XXXX, who said my case was escalated priority 10, There was no supervisor he could let me talk to and nothing else he nor Coinbase could do ; for me to just wait patiently.
XX/XX/XXXX, XXXX XXXX ; I called Coinbase at XXXX ; after being on hold for a long I finally talked with XXXX who said my case was labeled critical, priority 10 and a specialist should get to it soon and he could not do anything.
XX/XX/XXXX ; XXXX XXXX ; I called Coinbase at XXXX, on hold 23 minutes ; talked with XXXX, told him to just close my account and send me my money! I got put on hold, he came back and said he cant do anything!
I got the same email from XXXX no subject line ; Follow this link to view the status of your case and add additional comments : http : //support.coinbase.comXXXX Again, in following the link I got the page with Partial System Outage : A fix has been implemented and we are monitoring the results On XX/XX/XXXX ; I went to my bank and did a reversal on the 5 unauthorized charges of {$1000.00} each ; I got 5 emails from XXXX, 1- for each reversal. I received 5 separate deposits of {$1000.00} back into my bank account On XX/XX/XXXX ; XXXX XXXX ; I called Coinbase at XXXX ; Talked with XXXX, who said he could do nothing to just wait. I got email from XXXX, see below Hi there, Thanks for calling in earlier ; it was a real pleasure speaking with you today!
This is a follow-up email for the call we had earlier regarding your escalated As promised, we have sent this issue out to a specialist to take a closer look and address it properly. I only ask that you please be patient as our specialists do have a long queue to process.
Again, I really appreciate your speaking with me. It truly was a pleasure! If anything else comes up, or if your issue develops further, please dont hesitate to reply to this email!
Thank you so much, -Coinbase Support Team This message was sent to XXXX in reference to Case # XXXX Follow this link to view the status of your case and add additional comments : http : //support.coinbase.comXXXX Again, in following the link I got the page with Partial System Outage : A fix has been implemented and we are monitoring the results XX/XX/XXXX ; I called Coinbase at XXXX ; talked with XXXX. As with most of my calls since the XX/XX/XXXX of this year I expressed my displeasure with their lack of doing anything on my Critical, High Priority 10. To just cancel my account and send my fuds to my bank. Was there anyone I could talk to or anyway to get this taken of. Why 45 days later had I heard nothing? XXXX was sympathetic, but he cant do anything.
Since XX/XX/XXXX I have not been able to log onto my account and their link http : //support.coinbase.comXXXX always go to a page with Partial System Outage : A fix has been implemented and we are monitoring the results They have over {$5000.00} of my money and I cant access my account or get them to close it and send the funds to my bank.
Company Response: Closed with explanation
2018-01-31
Other transaction problem
Money transfer, virtual currency, or money service: International money transfer
Company Response: Closed with explanation
2018-01-31
Ridley Park, PA
Other service problem
Money transfer, virtual currency, or money service: Virtual currency
Complaint: I like to start by stating my complaint is with the company Coinbase, which is a bitcoin wallet. On XX/XX/XXXX at approximately XXXX XXXX after having to replace my phone device I attempted to sign onto my Coinbase account. I was able to enter my user name and password correctly but as a secondary precaution Coinbase also requires the use of an authenticator code. However, with the replacement of my phone I lost access to my authenticator app. Not having the required authenticator code there is an option from Coinbase to submit a license and selfie to gain access to my account. I have attempted to gain access using my photo and ID over 11 times with a denial every time. I reached out to Coinbase on XX/XX/XXXX via phone and was told to keep trying that there was nothing else they could do. I reached out again on XX/XX/XXXX where I was told they were investigating the issue and working with a specialist to address it properly. I continued to attempt access using my License and photo with no luck. With no response I reached out again on XX/XX/XXXX, where I was told for a faster response to not continue to contact them and that my request has been properly escalated. As of XX/XX/XXXX I still have not heard from Coinbase regarding this matter. As of the last time that i had access to my Coinbase account I had roughly {$11000.00} vested. With not having access I have not been able to withdraw my money while watching the Cryptocurrency ascend and descend. This has been a very stressful journey.
Company Response: Closed with explanation
2018-01-31
NY
Fraud or scam
Money transfer, virtual currency, or money service: Virtual currency
Complaint: I had opened an account with coinbase in the beginning of the summer. I was having issues with my account about transfering money out and into my account. I was not able to deposit my Etherium and litecoin into my trading account. I contacted customer support through email and waited for a response. The response i received did not pertain to my inquirey. It basiclly said that I must wait for customer support and they were behind in support tickets. while I had been waiting almost 3 months my account was hacked and compromised. All my coin was converted into USD and then transfered out. I did not authorize those transactions. The moment it happened i emailed customer support to notify them that my account was hacked. I was emailed with a response with a phone number. I called the phone number and was placed on hold for 2hrs. After finaly getting to a live operator I was told the number I called wasnt for customer support issues and they would email me when they were ready to respond to my complaint. So durring this time when the hack happend The total amount of money stolen was about {$1500.00}. I waited several weeks, continued to email and call with no luck in getting my issue resolved. During that time a refund was placed into my account for some ICOs I had invested in. {$150.00} was deposited into my account from XXXX. I was not able to deposit that money into my account because since my bank and credit card were linked to coinbase the hacker also made transactions with those accounts for the amount of {$9000.00}. I had to close my bank account and cancel my credit card. Reimbursement is still pending. I was waiting for a new bank account number and was under the influence it would only take a few days. It was delayed on my banks end for some reason and during the delay my coinbase account was hacked again. The {$150.00} turned up missing and I also had a pending charge for a bank transfer for almost {$2300.00}. It was pending inly because I canceled my bank card and had my bank put a blick on my account from coinbase. I looked over my account and it does not show any activity of anyone logging in during the heist. I also had all my security setting set up and email notifications and did not receive any notifications for any of those transactions. Once again I contacted coinbase which claims they put my funds in a cold storage wallet for protection and security and also claim USD funds are insured by the FDIC. I am not sure how my funds can just disapear without anyone logging into my account. I contacted Coinbase again in reguards to the second hack in 2 weeks and they decided it was best to lock my account until they can get it resolved. I spoke to them on the phone and wanted to get it resolved then but was told that i wasnt calling the department that handles it. I asked to be transfered over to them but was told they coudnt do it but would put my complaint in a escalation. I asked how much longer I had to wait since i was now waiting 3 months from my first support ticket to get resolved. I was told a few more weeks. its been 3 more now and still have not received a response from them in regards to my funds disapearing from the cold storage wallet.
I have also submitted several complaint to many other agencies over 3 weeks and have not received any responses back from coinbase. I look at this company as a fraudulent website that does not take responsibility or care about its customers
Company Response: Closed with explanation
2018-01-31
Money was not available when promised
Money transfer, virtual currency, or money service: International money transfer
Company Response: Closed with explanation
2018-01-31
Wonder Lake, IL
Money was not available when promised
Money transfer, virtual currency, or money service: Domestic (US) money transfer
Complaint: OnXX/XX/XXXXat XXXX XXXX CST I went to XXXX XXXX XXXX and was assisted in sending a Bank Wire of {$11000.00} to XXXX ( Coinbase ). All Bank Wire steps were followed correctly and money was supposed to be available for use in XXXX that day. I did not receive it that day or that week. I went back to XXXX XXXX XXXX onXX/XX/XXXX and was given a printout of the send confirmation. The bank stated that they will send a request to receive confirmation from XXXX XXXX XXXX ( their bank ) that they indeed received the Wire. They have not responded. I contacted XXXX over the phone and explained the situation and was told that this would be forwarded to the applicable department and got a case number. Since then I have not heard anything. I have sent an email asking for a status update of my case and have not heard anything yet. I am extremely concerned as I am not receiving any assistance and just getting the runaround. It doesn't appear anybody can help me and I am amazed how a company can operate like this. Any help would be so greatly appreciated.
Company Response: Closed with explanation
2018-01-31
Scottsdale, AZ
Other transaction problem
Money transfer, virtual currency, or money service: Domestic (US) money transfer
Complaint: On XX/XX/2017, I authorized a wire transfer in the amount of {$60000.00} from my bank account to my XXXX account. The wire transfer was rejected by XXXX, because the names on the accounts did not match. The funds HAVE NOT BEEN RETURNED to the original bank account. It has been over a month since the wire transfer was rejected.
Company Response: Closed with explanation
2018-01-31
Ft Lauderdale, FL
Money was not available when promised
Money transfer, virtual currency, or money service: Virtual currency
Complaint: I transferred approximately $4800 worth of BTC to my Coinbase account from XXXX. I received messages on both ends that the transfer was successful. Then when I checked my Coinbase account, the money was not there. I called and complain with sheer panic that the money had just vanished. They informed me that somehow the money had been transferred to XXXX, and sure enough when I checked there was money there. So I proceded to try to withdrawal the full amount, and it showed an error stating that was an error withdrawing from XXXX and that I should transfer to Coinbase in order to withdrawal. So I did that, but then then things got even weirder. I couldn't convert my BTC to USD at all in order to perform the withdrawal. So for days my money was stuck as BTC which was steadily dropping. Finally I called again, and the lady said she had no idea what happened and had to make a ticket for an advanced technician to investigate the matter. The next day I had $XXXX even in my USD wallet. I was again so excited that the nightmare was over, but when I went to withdrawal the money, it said that I owed $XXXX still. I didn't understand at all how I could owe any money let alone $XXXX, especially while I had XXXX already in the account. It gave me 4 ways to pay, my credit card, 2 of my wifes credit cards, or I could subtract it from my XXXX USD wallet. Anyway I tried every method, now it says I owe 0 dollars, but I can't withdrawl still because it says I owe 0 dollars. HELP ME PLEASE!! I think they stole my money, or got hack and are trying to cover it up.
Company Response: Closed with explanation
2018-01-31
Federal Way, WA
Other transaction problem
Money transfer, virtual currency, or money service: Virtual currency
Complaint: XXXX XXXX # XXXX.
On XX/XX/XXXX, I became aware that I was unable to access or sell my cryptocurrency stored in a Coinbase Vault, because I did not have access to the 'secondary ' email address associated with the account. I submitted a support ticket through the Coinbase website. I received response from Coinbase via email that someone would close the Vault account and create a new Vault on my behalf with a valid email address.
After no further response or action from Coinbase, I followed up with several email asking for resolution. My follow-up email to coinbase were on XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX. Most email received an automated response. I also called the customer support line several times, but most attempts did not reach a person ( wait times >45mins ). The times I got through, customer support was unhelpful.
On XX/XX/XXXX, I reached out to the company ( XXXX ) associated with my secondary email address, to see if I could regain access. XXXX informed me that I never had an email address that matched the one on file with Coinbase ( started with " d '' ). It was at this point that I realized that Coinbase had changed the 'secondary ' email address associated with my account without my authorization. I checked the email Coinbase sent at the time of the Vault account creation, and can confirm that the email address I used at the time of account creation is no longer the email address associated with the account. It has now been XXXX months, without any resolution.
Company Response: Closed with explanation
2018-01-31
Keytesville, MO
Other transaction problem
Money transfer, virtual currency, or money service: Domestic (US) money transfer
Complaint: Coinbase.com is asking consumers to add funds to their account via credit or debit cards. They are then charging the consumers ' ( including me ) cards as a cash advance without proper notification of this transaction before purchase. My and other credit card companies are then charging transaction fees to me and other consumers because of this cash advance. Upon contacting coinbase, I was told it's not their fault and it's the credit card company 's fault. Which is false, due to the lack of proper knowledge provided by them when making the transaction. This problem is wide spread throughout the nation at the moment
Company Response: Closed with explanation
2018-01-30
Queens, NY
Money was not available when promised
Money transfer, virtual currency, or money service: Domestic (US) money transfer
Complaint: I Have wire transferred a sum of {$30000.00} USD to Coinbase via the wire instructions listed to purchase additional vitrual currencies. I have used them in the past but this was the first time sending a larger sum of money. My funds have not appeared for since XXXX XXXX 2018, which was the date of the transfer. My bank has confirmed the funds were indeed sent, the deposit bank acknowledged the funds have been recieved but it is up to Coinbase to settle the issue. Ive submitted a request a few days after with no response excpet that they will review. It has been a full week with no contact from coinbase.com or any resolution.
Company Response: Closed with explanation
2018-01-30
Glendale, CO
Other transaction problem
Money transfer, virtual currency, or money service: Virtual currency
Complaint: On XX/XX/XXXX I submitted a case to Coinbase.com. The case ID is XXXX.
My issue is I previously had an account with Coinbase shortly after they started doing business over 4 years ago. I have since lost access to the phone and email attached to my old account. This is not a new issue for Coinbase, as they have steps to restore access to your previous account on their website.
I followed the help article for restoring access step by step. I created a new account, uploaded identity verification documents, and submitted a case for resolution. Since XX/XX/XXXX I have received one correspondence from Coinbase, which was a support rep giving me the link to the help article I already followed. That was on XX/XX/XXXX. I have updated information on the case multiple times since then in an attempt to gain their attention but they still have not restored access to my previous account nor merged the two.
I understand with an influx of new users there may be a delay in handling support tickets, but two months is excessive and shows they have no sense of urgency.
Company Response: Closed with explanation
2018-01-30
Seattle, WA
Other transaction problem
Money transfer, virtual currency, or money service: Virtual currency
Complaint: On XX/XX/2017, I purchased XXXX ETH ( Ethereum ) from Coinbase for a price of {$500.00} on my XXXX credit card.
Since then, it has been marked as a Pending transaction for two months. In that time, the value of my purchase has doubled XXXX.
I've opened 3 separate support tickets from XX/XX/XXXX to XX/XX/XXXX, and they have been unwilling to credit my account for the XXXX ETH I purchased. Eventually they just stop replying to my emails.
They have already charged my credit card and taken my money, but will not give me what I paid for.
Company Response: Closed with explanation
2018-01-30
FL
Other transaction problem
Money transfer, virtual currency, or money service: Domestic (US) money transfer
Complaint: XX/XX/2018 Consumer Financial Protection Bureau XXXX XXXX XXXX XXXX, XXXX, DC XXXX ( XXXX ) XXXX To Whom it may concern : My name is XXXX XXXX XXXX and I live at XXXX XXXX XXXX XXXX, XXXX XXXX, FL XXXX. My birth date is XX/XX/XXXX and you of course have access to my XXXX drivers license and Social Security number. Two current phone numbers are XXXX and XXXX. Here is my complaint.
On XX/XX/XXXX I started to open an online account with Coinbase.com. I chose them as they were the only one operating within the U.S. and there was extensive information about them online. Since they and their partner company the XXXX, were operating as an online Brokers of International Currencies like the XXXX XXXX ; I assumed they had to meet a LOT of regulations to gain a license for the XXXX or XXXX XXXX XXXX. Not being familiar with laws regulating our Federal Reserve System, I was rather concerned that our Federal Government was saying they would not regulate Bitcoin or any other cryptocurrency as their legal tactic would be to not acknowledge it's existence at all. Looking at the big picture, your agency knew 10 years ago that it placed you in an awkward position between the American consumer ; and our Federal Banking system that sought to prevent people from using a radically different currency not backed by a recognized country. Well, the time has arrived that our Government can no longer play stupid. By allowing a corporation that trades in Billions of dollars daily to operate within the U.S. as an online broker, our government has given a " De Facto '' acknowledgment of not only Cryptocurrency 's existence, but permission for it to transact with our legal currency. It simply never got around to it's regulation, due to such a hatred of it's effect on our financial system. This means there will be a large, intense Supreme Court battle over the negligence of our Congress and Senate, but particularly the entire Executive branch of government. The American people will rather upset they can't sue Banks or their own Government for such negligence. Mayhem and likely a 2nd civil war will follow. ( maybe not, our success has made us particularly ignorant and lazy, as our President has pointed out many times ) But I digress.
While filling out all the personal and financial information necessary to open an account with Coinbase, there came a page where they reccommended I use a two-step authorization process to sign into my account. I thought about it, as I had only possessed an Android phone for a year, and was worried about my technical skills should something go wrong. But concerns for the safety of my money overruled that, and I joined up for the 2 step authorization process. I gave them permission for direct ACH access to my XXXX XXXX XXXX checking account, as that was the only way to transfer amounts greater than {$750.00} according to them. ( I know, warning bells should have been going off in my head ) They started to send me confirmation e-mails which I have attached to this document. I had given them as my main E-mail XXXX and I see by their e-mails that on XX/XX/XXXX they acknowledge my purchase of XXXX Ethereum for {$300.00}, which takes 5 business days according to their rules. I also began to open an account with their trading platform called XXXX, and began having problems. I couldn't seem to get a clear enough photo of my driver 's license to meet their account identity rules, so I was unable to access their trading website until XX/XX/XXXX. Nevertheless, I started a purchase of XXXX Litecoins on XX/XX/XXXX for {$4800.00}. This purchase was acknowledged on XX/XX/XXXX, along with acknowledgment of another {$5000.00} deposit started. ( again, everything takes 5 days despite the ACH link ) I also see XXXX e-mails sent to me from XXXX trying to assist me in gettting my photo to them, which after many e-mails and complaints by me they acknowledged receipt of an acceptable photo on XX/XX/XXXX. ( I'll attach all e-mails I have to and from them, I see I made the mistake of deleting some of them ) On XX/XX/XXXX they acknowledge the purchase of XXXX more Litecoins for the amount of {$3600.00}. On XX/XX/XXXX I took a snapshot of the coinbase account showing I had XXXX U.S. dollars in my account, with {$10000.00} more being sent from my bank account. I think the {$15000.00} number is showing what I had sent and was already in my account up to that point. Because I had already purchsed XXXX Litecoins by that point, and the dollar amount left would have been approximatly {$6200.00} due to both the Litecoins and the XXXX Ethereum I had purchased. I also took a snapshot of the XXXX account showing the XXXX Litecoins and {$5000.00} cash in that account.
On that same day, XX/XX/XXXX, I placed a stop order for the XXXX Litecoins at {$100.00} ; in order to test whether their trading system was on the up and up. ( It had reached {$100.00} and was dropping ) Sure enough, it got sold during the night, and my XXXX account was showing a little over {$25000.00} in cash, with one Ethereum still left at the coinbase website. Now come the problems. I did not purchase back the Litecoins, and Coinbase decided it was time to put on a show. Between Thursday XX/XX/XXXX and Monday XX/XX/XXXX Litecoin went from {$98.00} to {$370.00}. But this was not the problem for me. I had been having problems with my XXXX XXXX XXXX for about a week and stupidly took the advice from a XXXX E-mail to a " hard reset '' of the phone should all else fail. I ended up doing just that. Mistake! I was locked out of my phone, and even XXXX the Manufacturer could not help me. They claimed I had to take it to a XXXX XXXX to flash the BIOS or what passes for that in an Android phone. Turned out the closest XXXX XXXX was an authorized XXXX repair facility, I could drive an hour either North or South to leave the phone at one of those XXXX XXXX XXXX. I started writing E-mails to Coinbase, as when I called them they honestly stated they could respond in a timely manner ( which in my case meant 4 weeks ), and would hang up. When I posted my problem on their website, I got the same response, they could not respond in a timely manner even to e-mails! On XX/XX/XXXX they sent out this e-mail probably to everyone, " In an effort to more quickly respond to requests, directly emailing XXXX is no longer enabled. ''!!! As if to rub salt in the wound, they had also sent out an e-mail on XX/XX/XXXX to all their customers requesting that they " Please invest responsibly '' and proceeded to explain why they could not provide adequate customer service as they had taken on hundreds of thosands of accounts without increasing their support staff proportionally. Hmmm. Talk about the height of hypocrisy. They were acting like they were the XXXX or XXXX, largely unaccountable to their customers, despite opening the only cryptocurrency market within the U.S. border! The Banks were particularly jealous, THEY WERE REGULATED!!! There were laws preventing them from Trading billions dollars without safety or consumer protections being already in place. I of course was livid, as you can tell by my language in the e-mails I sent them, trying to gain access to my account. To no avail. They repeatedly sent me instructions to follow, which I did, and would get the response my e-mail was not linked to my account, so they could not begin to Identify me. And of course since both my home phone, and now my cell phone had changed, they would not call me either. I tried opening a new XXXX account, they would not respond to that one also. But they DID acknowledge receiving my {$10000.00} deposit on XX/XX/XXXX ... .... Hmmm.
On XX/XX/XXXX I received and E-mail from them acknowedging the receipt of mine sent on XX/XX/XXXX that I had been locked out for 4 days. They even sent an e-mail claiming that due to their mistake of taking on too many customers, they would prioritze those customers who had been locked out of their account first! They never contacted me directly through e-mail or phone call. ( I had sent them 2 of my new phone numbers ) They were of course in possession of all 7 of my unique identifiers as that what it took just to open an account. On XX/XX/XXXX I sent them a rather nasty e-mail stating I had locked out for 10 days, an eternity in the trading world, they completely ignored this and all future e-mails from me. Let 's go back to the XX/XX/XXXX
On XX/XX/XXXX, I contacted the XXXX XXXX XXXX and talked to XXXX and then XXXX to explain what was going on. They said they could perform a " reverse '' of the ACH deposits to Coinbase.com and I stated that probably wouldn't be accurate or legal within the financial world. Since I had profited from my sale of the Litecoin by about {$1700.00}, and still possesed XXXX Ethereum, they were going to owe me more. She stated this was all they could do on their end, and I said OK, do it. I wasn't too worried about Coinbase trying to steal my remaining money, as had I lost 5 or {$10000.00}, they of course would never have sent back the original amounts transfered from my account at XXXX. They would have followed their own rules outlined in the terms of agreement I had to digitally sign on order to open an account. So obviously I expect them to follow their OWN written agreement! TODAY ( XX/XX/XXXX ) they sent me 2 e-mails stating they are closing my account for the following reason, '' Upon careful review, we believe your account has engaged in prohibited use in violation of our Terms of Service and we regret to inform you that we can no longer provide you with access to our service. We respectfully request that you follow the on-screen instructions presented when you log into your Coinbase account to send any remaining balance offsite to an external address. '' Should you have any questions or need assistance, please let us know and we'll be happy to help. '' HILARIOUS! You will notice they are not about to elaborate on how I violated their terms of service.
This is rather humorous since I have not been able to sign in or access my account for over 30 days now, and therefore can not send my remaining money anywhere. I can not contact them in any way shape or form, and they have completly ignored my pleas for them TO contact me. Not only is this in breach of contract, but obviously illegal ; and I would like to sue them for {$100000.00}. But since the Supreme Court of the United States has ruled it is OK to lock the consumer out of the 3rd branch of Government by allowing Corporations to refuse to do business, unless the consumer signs away his rights, I am forced into arbitration. I would like some advice on how to do this, as Coinbase is looking to avoid any contact with me.
I would also request for my sake and probably thousands of others for the Dept. of Justice to shut them down immediately, as had any Bank or Insurance company did what they have done, and are continuing to do today is obviously illegal, or grossly negligent. They are handling Billions of U.S. dollars monthly and trading Billions of dollars daily, I'm sure our citizens outrage will be showing up on XXXX XXXX soon. I await your response.
Sincerly Yours, XXXX XXXX XXXX CC : finCEN.gov Post Notes : On XX/XX/XXXX the XXXX XXXX XXXX successfully transferred back into my checking account the amount of {$23000.00}, which would be about {$1300.00} less than the amount showing in my XXXX account before I became locked out. Also there is still the XXXX Ethereum left in the Coinbase account which as of today is worth {$1100.00}. Rather than send 40 sheets of paper through the mail, perhaps I could transfer all these e-mails directly to you, avoiding a paper waste. Perhaps I should note that all of this occurred 2 months after my mother 's XXXX, and that given the added paperwork I was already having to deal with, it was a bad idea to get involved with this venture in the first place.
Company Response: Closed with explanation
2018-01-30
Chestnut Street, IL
Money was not available when promised
Money transfer, virtual currency, or money service: Domestic (US) money transfer
Company Response: Closed with explanation
2018-01-30
San Gabriel, CA
Money was not available when promised
Money transfer, virtual currency, or money service: Domestic (US) money transfer
Complaint: I have wired XXXX on XX/XX/2017 to Coinbase. Still have not see money deposite to my Coinbase account. I have email to them many times. Feel those reply is by computer. Not real person. Msg to Coinbase employees XXXX on rebbit, no reply. I create case # XXXX I have they will solve this problem ASAP.
Company Response: Closed with explanation
2018-01-30
Fraud or scam
Money transfer, virtual currency, or money service: Virtual currency
Complaint: I made a wire transfer to Coinbase on XX/XX/XXXX, and they said it was declined due to a name mismatch, and that they will be returning this wire back to my bank within 7 business days. After 7 business days, I sent them an email, and they stated that they were dealing with higher than average requests time, and that they needed more information about the wire ( reference #, XXXX #, full name, etc. ). I quickly reply to that email providing all the information necessary. This was onXX/XX/XXXX
On XX/XX/XXXX, they replied stating that they recently experienced delays with wires due to high volume and the additional manual processing that they require, and that all delayed wires from their backlog have been processed ; and that I should receive my funds within the next 2 business days.
I sent them another email on XX/XX/XXXX about the status of my wire, and I have yet to receive a response. I have only been receiving automated responses, and it is now almost XXXX. This is ridiculous. WHERE IS MY MONEY?
Case ID : # XXXX
Company Response: Closed with explanation
2018-01-30
Fort Worth, TX
Money was not available when promised
Money transfer, virtual currency, or money service: Virtual currency
Complaint: I placed an order for currency on XX/XX/XXXX, was charged, but the currency was never delivered. Case number XXXX.
I am being told over the phone " it is being escalated '' and " they have to respond to the case '' but it has been nearly a month with no reply, and no way to contact " them. '' I do not want to dispute this charge.
Company Response: Closed with explanation
2018-01-30
Stevenson, MD
Money was not available when promised
Money transfer, virtual currency, or money service: Virtual currency
Complaint: I Sold my bitcoin on XX/XX/XXXX and I still have not received my money. ( {$370.00} ). The website stated my sale was completed. So I sent several emails to support through their website no response. I finally found their number and I called on XX/XX/XXXX and they gave me a case number and told me it may take 3 to 5 days for someone to contact me. Today, XX/XX/XXXX I still don't have my money. I called customer service again since I did not receive a call back from my call last week. The customer representative said she could see that my ticket is still in the queue but she gave me another case number.
Company Response: Closed with explanation