Coinbase, Inc

2017-12-15

Norwalk, CA

Money was not available when promised

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

Complaint: Hello On XXXX/XXXX/XXXX I have requested a withdrawal of {$9900.00} from XXXX to my bank account. It is a direct wire transfer which I have to pay money for. XXXX confirmed the transfer and state that my money would be in my bank by XX/XX/XXXX. I still havent received my money and been trying to contact XXXX for the status of my case with no avail. This includes email, phone call, and social sites like reddit. There were no feedback of any kind from XXXX https : //www.coinbase.com XXXX XXXX XXXX # XXXX XXXX XXXX XXXX CA XXXX
Company Response: Closed with explanation

Timely Response

2017-12-15

Fraud or scam

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

Complaint: On XXXX-XXXX-2017. Coinbase communicated to me via email to confirm new devices with IP address from XXXX and XXXX, asking me to immediately disable the account in case you do not recognize these activities I live in XXXX, and so I followed their advice by disabling my account through a link sent to me by coinbase. The problem that now I can no longer access my account and I 'm worried about my deposited money, the support always responds with a robotic message. XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX For fraud and scam Thank you for this chance
Company Response: Closed with explanation

Timely Response

2017-12-15

Vista Lago, PR

Managing, opening, or closing your mobile wallet account

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

Company Response: Closed with explanation

Timely Response

2017-12-15

Vancouver, WA

Other transaction problem

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

Company Response: Closed with explanation

Timely Response

2017-12-15

Money was not available when promised

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

Company Response: Closed with explanation

Timely Response

2017-12-14

Rome, NY

Money was not available when promised

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

Company Response: Closed with explanation

Timely Response

2017-12-14

MD

Managing, opening, or closing your mobile wallet account

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

Complaint: I have an account on Coinbase, which I use to invest in bitcoin. I have been using Coinbase since XX/XX/XXXX. Since XX/XX/XXXX, I have been unable to make any transactions, including selling my bitcoin. The message I get when I try to sell is that I need to first verify my identity. This has never been a problem in the past using coinbase, so I 'm confused as to why they need this now. When I go to verify my identity, I put in all the correct information and coinbase says they can not verify my identity. This basically means that I am locked out of the funds that belong to me. I first reached out by submitting a support ticket on their website on XX/XX/XXXX. Their response the next day was some generic message about trying to format my apartment number differently or using my legal name instead of a nickname, etc. I responded saying this was not the issue, as there really is n't any other way to format the information I 've given them on the identity verification page. I have heard nothing since then. I also reached out to their support XX/XX/XXXXpage on XX/XX/XXXX and have received no response. I also have made multiple calls over multiple days to their support line, and all I get is an automated message saying their support line is too busy to take my call and they hang up on me. With how volatile the price of bitcoin is, I 've lost hundreds of dollars because I am unable to make transactions. I want to cash out and never use their service again, but I am being blocked from my own funds. They have ignored my repeated attempts to even get into contact with someone from their support team for a week now.
Company Response: Closed with explanation

Timely Response

2017-12-14

E Meadow, 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

2017-12-14

Weston, CT

Other transaction problem

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

Complaint: On XX/XX/XXXX of this year I sent a wire tranfer worth {$20000.00} USD to coinbase to their account in XXXX XXXX XXXX to an account under my name. Coinbase confirmed through email that they recieived it and said as the wire wasnt send from an account under my name that they have reversed it ( I sent it from my business account ). Unfortunately my bank never received those funds back and coinbase just doesnt answer with any solution, they just say they are " working on it '', but dont give me a confirmation of the reversed wire or any documentation that support that indeed they reversed those funds. It has been almost 3 months about this, and I still havent seen any solution. PLEASE HELP!
Company Response: Closed with explanation

Timely Response

2017-12-14

Chicago, IL

Money was not available when promised

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

Complaint: I transferred XXXX XXXX to coinbase dated XXXX/XXXX/XXXX and the money is still not available as per promised. please help in resolving this. email : XXXXXXXXXXXX company : coinbase / XXXX
Company Response: Closed with explanation

Timely Response

2017-12-14

Newark, DE

Other service problem

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

Company Response: Closed with explanation

Timely Response

2017-12-14

MO

Money was not available when promised

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

Complaint: On XX/X/2017, I wired {$5000.00} from my bank to Coinbase/XXXX to have the money credited to my account. As of today, the money has still not been posted and the company has been non-responsive after multiple attempts. The XXXX for the wire transfer is : XXXX
Company Response: Closed with explanation

Timely Response

2017-12-14

Bloomington, MN

Money was not available when promised

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

Complaint: I have been trying to sell my XXXX from my Coinbase account since XXXX/XXXX/XXXX and it is now XXXX/XXXX/XXXX. I have uploaded the requested identity documents ( front and back of Drivers License ) multiple times. They have an automated response saying verification has failed due to a heavy load. The value of XXXX is dropping and it is proving to be illiquid with Coinbase. It seems like they are stalling because they cant complete the transaction.
Company Response: Closed with explanation

Timely Response

2017-12-14

Austin, TX

Unauthorized transactions or other transaction problem

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

Company Response: Closed with explanation

Timely Response

2017-12-14

Naples, FL

Other transaction problem

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

Complaint: I opened an account with Coinbase in XXXX of 2017. In late XXXX into early XXXX of 2017 the company 's system effectively locked me out of my account by an error that was happening on their dual verification system. After I emailed their customer service multiple times and received no response after days and days, I finally began to call them. I contacted them five times and waited on hold for one to two hours before I finally got through. Two of those times the customer service rep put me on hold and then the phone hung up. They did not call me back or email me, even thought they had my information. When I finally reached someone that said they could help, they instructed me that I would need to re-verify my credential, which is a process that takes up to 72 hours. I made the attempt to do so and tried to upload my license and photo a total of 17 times over a three day period. Each time I received an error message stating that their systems were overloaded and to try back. After all the attempts over a stretch of time, I called again and told it would be escalated to a senior adivsor. I was tole they can not tell me when I would hear back. In the meantime I have no access to my funds and have lost on significant profits as I would have sold off my currency at high points during the time I was shut out.
Company Response: Closed with explanation

Timely Response

2017-12-14

Brooklyn, NY

Fraud or scam

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

Company Response: Closed with explanation

Timely Response

2017-12-14

N San Juan, CA

Money was not available when promised

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

Complaint: Coinbase was supposed to transfer {$11000.00} to my account by XXXX XXXX they are very late and will not respond case # XXXX
Company Response: Closed with explanation

Timely Response

2017-12-14

Worcester, MA

Other service problem

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

Complaint: Hello I am contact you in regards to my active coinbase account. As of XXXX XXXX I was locked out of my account. I was directed on their website to follow a few steps to resolved the problem. I completed the process and received an email notifying me that it was approved and I should be receiving a code by text to allow me access to the account. I never received the code. Next I sent a request ticket through there website, but got no reply. After that I called the customer support number, who directed back to the website. Once I did get a reply regarding my ticket it directed me back to the website. Next I used their XXXX account and their XXXX XXXX account for assistance and have gotten no reply. I am now writing to you while being placed on hold by their support line, I have been on hold for two hours. I have not included the dates because of the large amount of attempts I have made. Please help me regarding this issues, I have went through the proper channel as they have directed with no success.
Company Response: Closed with explanation

Timely Response

2017-12-14

Washington, DC

Managing, opening, or closing your mobile wallet account

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

Company Response: Closed with explanation

Timely Response

2017-12-14

Keezletown, VA

Money was not available when promised

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

Company Response: Closed with explanation

Timely Response

2017-12-14

Money was not available when promised

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

Complaint: Dear CFPB Attached below is a copy of my correspondence to Coinbase. I have also attached three screenshots of my transaction. Please speak to coinbase and have them allow this transaction to go through, my payment by credit card is supposed to be instant ( as other transactions with coinbase by this method have been ). I am getting absolutely no where with them and having researched online, it appears I am not the only one! Please help! Regards XXXX XXXX Dear Coinbase RE : Outstanding Ticket # XXXX Please note, that if my outstanding ticket ( as quoted above ) is not resolved within the next 24-48hrs, I will have no choice left but to escalate matters to the Consumer Financial Protection Bureau " ( CFPB ) '' for their thorough investigation. I firmly believe that 24-48hrs is a respectable timeframe considering my purchase of XXXX LTC ( LiteCoin ) has remained 'Pending ' since XXXX ( GMT ) on XX/XX/XXXX. This purchase was made by Credit Card, which is supposed to be instant. ( You will note from your records that I have made other purchases by this method, and they have all been instantaneous ). Background On the XX/XX/XXXX, I had attempted to purchase XXXX worth of LTC ( LiteCoin ). This would have equated to XXXX LTC. However, my transaction initially failed. I therefore received your email to advise me of such. I therefore proceeded with the transaction again for XXXX worth of LTC ( LiteCoin ), for an amount of XXXX LTC. This time, I did not receive any confirmation via email. My transaction is listed as 'Pending ' - Please see the screenshot attached herewith marked 'Screenshot 1 ' as evidence. This problem may have arisen as I attempted the transaction literally seconds later, for the same amount. It may have flagged something up on your system for review as per my telephone call with, XXXX ( One of your advisers ). Attempts to contact you. I have attempted to contact you via several methods such as XXXX, XXXX, XXXX XX/XX/XXXX, and Telephone calls. To no avail. I have spoken to one of your advisors, XXXX, on Thursday XX/XX/XXXX, who had advised me that he would 'escalate my ticket ' to a 'specialist ' who would look into this further. I have heard nothing since. He advised that it would appear as though my transaction flagged for review as he could clearly see the first attempt had failed, and that my second attempt had gone through as 'Pending for Review ' literally a minute or two later. I have made a further call to another of your representatives who advised that she could not say when my issue would be resolved and that XXXX had correctly escalated my ticket. The line cut off. I did not get chance to ask any further questions. In addition, I have had no such luck in receiving any form of response from your @ CoinbaseSupport or @ CoinBase XXXX representatives surrounding my issue. Solution I ask that you PLEASE resolve my issue. I am a fair and understanding individual, but this is now starting to cause me a great deal of distress and inconvenience. I therefore reach out to you, and ask that you please resolve my ticket and allow the transaction to go through, as intended. My Bank have confirmed to me on several occasions that there is no problem on their end. I feel that if this is not resolved within the timeframe quoted, then I will have little choice other than to escalate to the relevant authorities, namely the CFPB for their assistance. I have attached two further screenshots as evidence, and if needed, I can supply my XXXX evidence also to illustrate my lack of support and evidence of my telephone calls. Please resolve this issue for me, Coinbase. Please. It should be something simple for you to resolve. Best wishes and I hope to hear from you soon. XXXX XXXX XXXX
Company Response: Closed with explanation

Timely Response

2017-12-14

Burlingame, CA

Managing, opening, or closing your mobile wallet account

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

Complaint: I updated my Coinbase App on iphone on XX/XX/XXXX. The updated Coinbase app was requesting me to re-login. I received SMS verify code from them and it just didnt work on the app. After several times of trying, my Coinbase account was temporarily disable. I followed the steps from Coinbase.com and submit a support request through email. No one respond. From the morning of XX/XX/XXXX to today, I called Coinbase customers support line four times and waited 40 mins on average. The call was disconnected 4 times. They sent me follow up emails that provide same information I can find online ( not actual help ). They have no idea, or no plan on how to solved the problem. No one from Coinbase has ever contact me beside the email that tells me to wait. It has been 5 days. The market changes every second. Their irresponsible customer support could result really thousands of customer a desperate financial situation. Please help me.
Company Response: Closed with explanation

Timely Response

2017-12-14

Rocky Ridge, MD

Problem adding money

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

Complaint: I can not connect my XXXX account to coinbase to withdraw money.
Company Response: Closed with explanation

Timely Response

2017-12-13

Boston, MA

Money was not available when promised

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

Complaint: I placed a wire transfer of {$25000.00} at XXXX XX/XX/2017 from my bank, XXXX XXXX XXXX , to Coinbase Inc , who instructed me to transfer it to their account with Metropolitan XXXX XXXX . Routing Number : XXXX Account Number : XXXX Recipient Instructions : XXXX As of this moment, the amount has not been credited to my XXXX account with Coinbase. I have opened a ticket with their support team and received no response. I have tried calling their support phone number and the phone was never answered. Case # XXXX This appears to have happed to several other people. XXXX XXXX XXXX
Company Response: Closed with explanation

Timely Response

2017-12-13

Nyc, NY

Managing, opening, or closing your mobile wallet account

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

Complaint: On XXXX XXXX I was locked out of my Coinbase account due to changing phones. I sent in all of the necessary paperwork on that. It 's been almost two weeks and I have n't heard a peep from them. I have over $ 50k in the account and ca n't access it nor do I have an update from them at all. I 've sent emails repeatedly, tried calling to no avail, sent messages to their support on XXXX and XXXX to no response. They 've done nothing and have told me nothing while they are holding my money and not letting me sell or get my money off the platform. I do n't know what else to do.
Company Response: Closed with explanation

Timely Response