Coinbase, Inc

2017-11-29

Other service problem

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

Company Response: Closed with explanation

Timely Response

2017-11-29

Fraud or scam

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

Complaint: Good evening, CFPB. I am writing to you regarding my " temporarily disabled '' Coinbase account. After hours of reading online, I could n't seem to find an answer that could resolve my issue. My coinbase account registered on e-mail XXXX has been temporarily disabled with funding in it. It is a known issue that Coinbase Support do n't handle the customer support cases that are submitted to them, and some people have been waiting for months. The highest one I 've found have waited for 135 days. With my account temporarily disabled, I am unable to retrieve my money from my account, and I am unable to manage the virtual currency that I have on my account. I would like a detailed explanation of why my account is temporarily disabled, and how to get it back. Thanks. XXXX XXXX
Company Response: Closed with explanation

Timely Response

2017-11-29

Alexandria, VA

Money was not available when promised

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

Company Response: Closed with explanation

Timely Response

2017-11-28

Other transaction problem

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

Company Response: Closed with explanation

Timely Response

2017-11-27

Nashville, TN

Money was not available when promised

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

Complaint: I used the online company Coinbase for two transactions on XX/XX/XXXX : Transaction 1 : Sold XXXX at {$6300.00} per BTC in bitcoin for total of {$220.00} Transaction 2 : Sold XXXX at {$6300.00} per BTC in bitcoin for total of {$360.00} Both transactions were supposed to be direct deposited in USD into my bank account on XX/XX/XXXX. They were both marked as complete but I never received the bank deposit. I opened up a support case on XX/XX/XXXX ( case # XXXX ) and never received a response. I also was never able to reach the company via phone. I am willing to provide bank statements proving this amount was never deposited.
Company Response: Closed with explanation

Timely Response

2017-11-27

Other transaction problem

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

Complaint: Hello On XXXX XXXX, 2017, I transferred from my account at Coinbase the amount of EUR XXXX to my bank XXXX XXXX ( XXXX : XXXX XXXX XXXX XXXX XXXX XXXX ) XXXX XXXX, XXXX. To this day, the money has never arrived. I have written to Coinbase support several times and called by phone. They recognized my problem, but do not respond further to my emails or calls. Every time they say the same thing : they would try, but nothing is done. I do not know what else to do. Could you please help me? Kind regards XXXX XXXX XXXX XXXX XXXX XXXX Tel. : XXXX Email : XXXX
Company Response: Closed with explanation

Timely Response

2017-11-27

Arco, CA

Money was not available when promised

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

Complaint: I transferred {$5200.00} from XXXX exchange to my coinbase wallet, which is advertised as instantaneous. However the money is not in my wallet or available.
Company Response: Closed with explanation

Timely Response

2017-11-27

Other transaction problem

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

Company Response: Closed with explanation

Timely Response

2017-11-27

Bellevue, WA

Other transaction problem

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

Complaint: I purchase ETH on XX/XX/XXXX for the amount of {$4600.00} and then they suddenly suspended my account on XX/XX/XXXX and refunded my money. I asked them several times to reopen my account but they do not respond back to my emails. They do not provide phone number to contact them.
Company Response: Closed with explanation

Timely Response

2017-11-27

Other transaction problem

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

Company Response: Closed with explanation

Timely Response

2017-11-27

Key Biscayne, FL

Other transaction problem

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

Complaint: on XX/XX/2017 at XXXX XXXX, i initiated a transfer from coinbase to XXXX. This was my first time trying to fund my XXXX account and had never been on the site for this purpose. XXXX makes it extremely confusing and offer no customer service. I clicked the little plus sign next to XXXX instead of XXXX. Coinbase should never have initiated the transacation as it was not possible to deliver. Coinbase is telling me there is nothing they can do to get my money back. it is in excess of over 30k usd. XXXX AMOUNT TRANSACTED XXXX XXXX FEES XXXX XXXX RECEIVED 15 days ago CONFIRMATIONS 6+ Advanced Details Block Hash XXXX Block Height XXXX Transaction Index XXXX ( permalink ) Size 225 bytes Lock Time Version 1 Relayed By : XXXX
Company Response: Closed with explanation

Timely Response

2017-11-27

Long Island City, NY

Other transaction problem

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

Complaint: Hello, I am getting in touch because I have received an unauthorized charge from Coinbase on the card I use to buy digital currency. This is the second time I have received such a charge ( the first time I worked through my credit card company and promptly received a refund ). For two weeks now I have attempted to work with Coinbase to identify the issue. Further, since I raised the issue to Coinbase they have locked my account ( I am unable to buy and sell digital currency ), presumably out of a concern about fraud. Coinbase 's website indicates that their representatives respond within a day in cases of fraud, however I have been waiting two weeks for resolution. In the meantime the unauthorized charges in the attachment I have posted below are still on my card. Thanks so much for your help. 1 ) XX/XX/XXXX : {$1500.00} - Legitimate charge 2 ) XX/XX/XXXX : {$950.00} - Legitimate charge 3 ) XX/XX/XXXX : XXXX : UNAUTHORIZED CHARGE - I did not make this charge and did not receive any email documentation from coinbase regarding this charge. 4 ) XX/XX/XXXX : Refund from my credit card for an unauthorized charge. 5 ) XX/XX/XXXX : UNAUTHORIZED CHARGE - this is the same situation as Charge 3 above - I did not make this charge and did not receive any emails from coinbase about it ; it simply appeared on my credit card statement.
Company Response: Closed with explanation

Timely Response

2017-11-27

Boulder, CO

Managing, opening, or closing your mobile wallet account

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

Complaint: I opened an account with Coinbase, a US-based financial services company specializing in crypto currency. XXXX XXXX XXXX XXXX XXXX. XXXX XXXX, CA XXXX. I traded in virtual currency. They arbitrarily froze my account, would not explain why ( I read the customer agreement meticulously and ca n't understand why ), and now will not allow me to withdraw my money. I have contacted their customer service department at least a dozen times, and they will not do anything except sequester my funds, which are stuck in limbo due to this account closure.
Company Response: Closed with explanation

Timely Response

2017-11-27

Other transaction problem

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

Complaint: On the X/XX/17 coin base decided to close my account for no reason I had only opened the account a couple of weeks earlier I got an email telling me they was closing my account and to move my coins and euros before they close it. I was able to move the coins to an outside wallet but to move my euros I had to select my bank from a drop down box to send my funds too but when I select a bank there is no bank there and I can not enter my bank details manually because I have only limited access to my account now basically there is no way of getting my money back I have XXXX euros in the coin base acc I have made four calls to support now and all I get is my case will be handed to a specialist? These calls have cost me XXXX as it takes forever for them to answer and no help at all I have three case numbers XXXX Coin base do not want to help
Company Response: Closed with explanation

Timely Response

2017-11-27

Oxford, GA

Managing, opening, or closing your mobile wallet account

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

Complaint: I lost access to an email I used to set up my first account on Coinbase. When I login using that email, I receive the SMS text message authorization, but the second step sends an email to the account I lost access to. So, I know the coinbase account is still active. They have guidelines for how to remedy this situation. I followed them by creating a new Coinbase account and uploading my driver 's license so they could verify I am the owner on both accounts. I have contacted them several times, but never get a response. Contacted them on the below dates : XX/XX/XXXX ( # XXXX ) XX/XX/XXXX ( # XXXX ) XX/XX/XXXX ( # XXXX ) XX/XX/XXXX ( # XXXX ) I have included snapshots of the emails with the case numbers created at the bottom of each. I purchased XXXX bitcoin in XX/XX/XXXX for {$95.00} and is now worth over {$1500.00}.
Company Response: Closed with explanation

Timely Response

2017-11-27

Money was not available when promised

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

Complaint: I have money invested with Coinbase. I now wish to withdraw my funds from my EUR Wallet and GBP Wallet. I have set up my XXXX bank account with Coinbase as requested. I have deposited XXXX Euros as requested ( on two occasions now ) which is part of Coinbase 's verification process. The money is showing as received in my Coinbase EUR Wallet and my EUR Wallet account has been credited. No when I click on the withdraw button the software directs me to the account verification page and requested that I deposit yet more money into the Coinbase EUR account so my XXXX bank account can be verified. I have emailed Coinbase, tried calling them and followed all on-line help available from Coinbase but can not get my money back. I am now starting to think Coinbase are either scammers or are having financial difficulties.
Company Response: Closed with explanation

Timely Response

2017-11-27

Problem adding money

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

Complaint: transferred money to coinbase money on XXXX XXXX 2017, XXXX sent the the screenshot, contacted customer service raised the case as well but no response.
Company Response: Closed with explanation

Timely Response

2017-11-27

Money was not available when promised

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

Company Response: Closed with explanation

Timely Response

2017-11-27

Unauthorized transactions or other transaction problem

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

Company Response: Closed with explanation

Timely Response

2017-11-27

Oxford, GA

Managing, opening, or closing your mobile wallet account

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

Complaint: I am unable to Withdraw or Purchase bitcoin via my Coinable account, they currently have {$180.00} of my money and have failed to respond to any emails, phone calls or support requests I have sent after over a weeks time and submitted multiple copies of identification.
Company Response: Closed with explanation

Timely Response

2017-11-26

Show Low, AZ

Wrong amount charged or received

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

Company Response: Closed with explanation

Timely Response

2017-11-26

Atl, GA

Other service problem

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

Company Response: Closed with explanation

Timely Response

2017-11-24

Fraud or scam

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

Complaint: I used to work with coinbase to buy bitcoins and till now everything worked fine. 1-2 weeks ago when bitcoin price crashed a bit i wanted to buy some bitcoins fast. so like every time i logged in and ordered some bitcoins. after the purchase i was asked to verify to speed things up else they would hold the coins for 3 days. Which was strange because i already was verified! i tried to verify again ( they asked for driver license ) but on the mobile it did not work and on my pc i have no webcam.. after some tries i got a error message and was logged out. Now i cant login because my account got locked. i already tried to contact their support of course but on phone i gave up cause no one i answered for over 30 minutes and via email i got an automated email they are " looking '' at it.. i ordered the bitcoins ( worth XXXX ) on XXXX 2017 and so i got not a single response till now! i just want my account to be unlocked and send the bitcoins to my wallet..
Company Response: Closed with explanation

Timely Response

2017-11-24

Newnan, GA

Managing, opening, or closing your mobile wallet account

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

Complaint: I was signed out of my mobile app and when I attempted to sign back into my account it says my phone is not a trusted device. I then start the verification process to log back into my account and when I type in the sms code provided to me it says " Invalid code ''. I am currently still unable to log into my account which I was logged out of from without my consent.
Company Response: Closed with explanation

Timely Response

2017-11-23

Bohemia, NY

Money was not available when promised

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

Complaint: On XX/XX/XXXX ( 17 days ago ) I wired {$6300.00} from my personal bank account and it still has not been depositted into my USD wallet. I opened a support ticket ( # XXXX ) two days after sending the funds ( on XX/XX/XXXX ) but I have yet to receive any useful information about my transfer. I have left numerous requests for update on the ticket and with no response. I have called the support number twice and spoken to two different reps after 20+ minute wait times. Both reps told me that they can not access this information but they will escalate the ticket to a specialist and I would be contacted back. Coincidentally, both calls ended with them hanging up on me followed by a response to my ticket stating " Sorry, we got disconnected ''. After the last call on XX/XX/XXXX, my ticket was marked as closed even though they did n't give me my money. I immediately reopened the ticket asking why it was marked as closed but I have n't received a response in 3 days now. Also, on XX/XX/XXXX I went back to my bank to make sure they did n't mess this up on their end. They ensured me that the money was successfully deposited into Coinbase 's bank account. They gave me the confirmation number which I included in my ticket. Attached to this complaint is proof of my wire transfer provided by my bank and the full transcript of my communication with Coinbase support via my open ticket.
Company Response: Closed with explanation

Timely Response