ComplaintsforCoinbase, Inc

• Initial Complaint

  09/18/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  On August 18th 2024 I sent 100 dollars worth of bitcoin to a legit investment platform. 35 days later I tried to send more bitcoin to the same legit platform and Coinbase said my account was restricted from sending any funds. Their system automatically done this thinking I was a victim of fraud. said I was restricted from sending funds for thirty days . I right away disputed this and requested a review. they asked me questions which I answered and asked me to verify my identity which I did. they said they would get back to me in 5-7 days and I never heard from them at all. I managed to call them on September 18th. they emailed me a form to fill out which I did. Now they are saying the review could take another ****************************** from spending ,my own funds which I paid for and earned in good faith.. I am requesting that they give me access to my crypto. Once they do, I will send it to my nano ledger and not have to deal with coinbase again .

  Business response

  09/20/2024

  Hi *****,

  Thank you for reaching out about this.
  
  Weve sent you an email containing more information regarding this report through your ongoing support case (********). If you have any further questions or concerns, please dont hesitate to reply to us in your ongoing support case. Thank you.

  Customer response

  09/20/2024

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  Sincerely,
  
  ***********************

• Initial Complaint

  09/17/2024

  Complaint Type:

  Product Issues

  Status:

  Resolved

  More info

  I am writing to file a formal complaint against Coinbase, Inc. regarding an unresolved issue with a missing refund of $2,000 to my Coinbase credit card, which has been pending since August 25th, 2024. I have made multiple attempts to resolve this issue directly with Coinbase, but despite repeated efforts via email, chat, and phone, no satisfactory resolution has been provided.On August 29th, 2024, Coinbase initiated an investigation under Case #********, which was later transferred to Case #********. However, to date, I have not received any resolution, nor have I been credited the missing refund to my Coinbase USD wallet. I was instructed by Coinbase representatives to check my USD wallet regularly, which I have done daily, yet there has been no progress in crediting the refund.The merchant provided an Acquirer Reference Number (ARN) #*********************** as proof that the transaction was processed, and a Coinbase representative confirmed that the deposit was acknowledged. Despite this acknowledgment, Coinbase has yet to credit the funds to my account. Moreover, the representatives I have spoken with have been unable to provide any updates from their Escalation team, citing that their only means of communication is through email. This lack of transparency and customer service is highly frustrating.I have waited for over 20 days without any communication or resolution from Coinbase regarding the status of my refund. I find this situation unacceptable and am seeking the Better Business Bureaus assistance in resolving this matter promptly. I hope that by bringing this issue to your attention, Coinbase will take the necessary steps to resolve my case.Please feel free to contact me if further information is required. Thank you for your attention to this matter.

  Business response

  09/19/2024

  Hi *****,

  Thank you for reaching out about this.
  
  Weve sent you an email containing more information regarding this report through your ongoing support case (********). If you have any further questions or concerns, please dont hesitate to reply to us in your ongoing support case. Thank you.

  Customer response

  09/20/2024

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.  I am happy this issue was resolved both professionally and amicably.
  
  
  

• Initial Complaint

  09/15/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  Date: Sep 15 2024 Subject: Complaint Against Coinbase Account Lockout and Lack of Support (Case #********)Dear Better Business Bureau,On Sep 11 My account was locked during a transaction when I attempted to transfer USDC from my Coinbase account to my ********************** Wallet. I successfully transferred $5, $100, and $1,000, but when I attempted to transfer $10,000, it was flagged. I also tried sending $50,000, and it too was flagged. Coinbase requested photo verification, but due to a damaged iPhone front camera, I could not complete the process.I manually verified my identity with Coinbase, confirming I am the rightful account owner. Despite this verification, I am still locked out of my ****************************** has ongoing proof of my ownership, as I have had continuous email conversations (about 55 emails )with them regarding other issues two weeks prior to being locked out. They know I am the legitimate owner of the account, yet the situation remains unresolved.Every time I log in and go through two-step verification, I am redirected to a lockout page and cannot access the photo verification process.I have tried resolving this issue using different devices, including other iPhones and a laptop running Windows 10, but I remain locked out of my account.My attempts to contact Coinbase support have only led to what feels like automated or bot responses. My issue has not been escalated to human representatives, and I have not received meaningful assistance in resolving the situation.This account lockout has caused significant inconvenience, particularly because I use Coinbase for substantial cryptocurrency transactions, I believe my issue has been mishandled, and there is an over-reliance on automated processes that fail to address individual cases like mine.I request that you investigate this matter and assist me in getting Coinbase to properly resolve my account access issues.Thank you for your attention to this matter.Sincerely,Sies Vorachith

  Business response

  09/16/2024

  Hi Sies,
  
  We hope youre doing well upon receiving our response to your BBB complaint.
  
  We understand that youre unable to access your account. Weve reached out to you via support case #******** to further assist you with your inquiry.
  
  Please reply to our email and we will be more than happy to assist you.
  
  Regards,
  Coinbase Support

  Customer response

  09/17/2024

  Complaint ID ******** I had received a more detailed response from Coinbase stating that they had removed sign in restrictions from my account and once I sign in with 2fa verification and pass photo ID verification then I would have full access to my account. Thats great news and Im happy. Currently Im running antivirus software and performing factory reset on devices that were linked to Coinbase just to be careful. I will finish later today and then attempt to access my account. Although ********************** said restrictions had been lifted, I truly wont know til I try. I will update you tomorrow.

  Customer response

  09/18/2024

  I am writing to confirm that the business response from Coinbase is satisfactory, as I have regained full access to my account and all trading privileges have been restored.

  
  

  I would like to extend my thanks to Coinbase Support for resolving this matter and ensuring my account is intact. I appreciate their assistance in this process.

  
  

  Additionally, I want to personally thank you, **********, for your quick and effective intervention in this matter. Your support was instrumental in reaching this resolution.

  
  

  Please consider this matter closed, and thank you once again for your help.

  
  

  Sincerely,

  Sies Vorachith

• Initial Complaint

  09/10/2024

  Complaint Type:

  Product Issues

  Status:

  Resolved

  More info

  Commencing on or around August 2023, I fell victim to a multilayered scam operation orchestrated by ***** (the Fraudsters or the Company), with the design, development, manufacturing, promoting, marketing, distributing, labeling, and/or sale of illegal and outright fraudulent investment services, all of which aim at contributing to the goal of robbing and defrauding clients through a predetermined cycle of client losses to gains in the equivalent of ******* USD which was transferred from my wallet utilizing Coinbase's services. I do not have a proclivity to blame others for my downfalls, however, I cannot help but link this enormous loss with the trust I had instilled in Coinbase as a regulated institution.I have contacted Coinbase back in February 2024, who then asked for additional information in regards to my experience. Even after providing them with enough evidence to prove that I am a victim of scam, in March ****************************************************************** any way. I decided to get back to them with even more evidence and additional arguments as to why they should help me resolve this matter, however I never heard back from them again.I would kindly ask you to help me get in contact with Coinbase again and finally resolve this issue.

  Business response

  09/14/2024

  Hi *****,
  
  We hope youre doing well upon receiving our response to your BBB complaint.
  
  We understand that you were scammed. Weve reached out to you via support case #******** to further assist you with your inquiry.
  
  Please reply to our email and we will be more than happy to assist you.
  
  Regards,
  Coinbase Support

  Customer response

  09/16/2024

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  Sincerely,
  
  *********************

• Initial Complaint

  09/09/2024

  Complaint Type:

  Product Issues

  Status:

  Resolved

  More info

  I purchased $3000 of USDC from Coinbase this past Friday, 9/6, and have yet been credited that amount to my Coinbase account. They have already charged my debit card and their support has been less than helpful not offering me any type of ETA.

  Business response

  09/14/2024

  Hi ******,
  
  We hope youre doing well upon receiving our response to your BBB complaint.
  
  We understand you were experiencing an issue with a stuck USDT transaction. Weve reached out to you via support case #******** to further assist you with your inquiry.
  
  Please reply to our email and we will be more than happy to assist you.
  
  Regards,
  Coinbase Support

  Customer response

  09/15/2024

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  Sincerely,
  
  ***************************

• Initial Complaint

  09/09/2024

  Complaint Type:

  Product Issues

  Status:

  Resolved

  More info

  I made a purchase of **** on Coinbase this past Friday, 9/6, and have yet to be credited the **** from that purchase. The money was removed from the debit card account attached to my ****** autopay setting for Coinbase ******* was the method I used to make this purchase) so at this point I'm just looking to be credited the **** owed to me.The transaction has been in "pending" status since Friday, 9/6, and I have reached out to Coinbase phone and chat support and all I was fed was canned messages with no help offered or no ETA for resolution provided.

  Business response

  09/13/2024

  Hi *****,
  
  We hope you are doing well. We have receive your complaint.
  
  We understand that you want to confirm the pending USDC purchase on 09/06/2024. We have reached out to you via support case #******** to provide more information about this inquiry..
  
  Please reply to our email and we will be more than happy to assist you.
  
  Regards,
  Coinbase Support

  Customer response

  09/13/2024

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  Sincerely,
  
  *****************************

• Initial Complaint

  09/08/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I have incorporated hundreds probably thousands and now they all of a sudden want to restrict my account when i asked for a refund for a coinbase one subscription thst im Eligible for because a customer service representative said they cancelled it and now they cant find trace if the call or anything so now because my account is restricted im not eligible for a refund or use of my account with money in it and if i cancel membership no refund but if i keep it i will still be charged like make it make sense why would i want to pay 30$ for a membership and not even be able to use the account features at all

  Business response

  09/12/2024

  Hi *******,
  
  We hope youre doing well upon receiving our response to your BBB complaint.
  
  We understand that you were unable to take advantage of the features included with your Coinbase One subscription. Weve reached out to you via support case #******** to further assist you with your inquiry.
  
  Please reply to our email and we will be more than happy to assist you.
  
  Regards,
  Coinbase Support

• Initial Complaint

  09/08/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  On August 31, 2024, my phone, driver's license, military ID (which contains my Social Security number), and two credit cards were stolen. Using this stolen information, a hacker gained unauthorized access to my Coinbase account, despite the two-factor authentication (2FA) I had in place, which was tied to my phone. The hacker attempted two large unauthorized Bitcoin transactions$9,800 and $7,000both of which were blocked by Coinbase. However, Coinbase failed to take further action, such as locking my account, despite these clear red flags.Later that day, the hacker successfully transferred $6,600.25 in BTC to 23 different external addresses. Despite this highly suspicious activity, Coinbase allowed these transactions to go through without further investigation. My account was not locked until September 1, 2024, after the funds were already stolen.In addition to the theft from my Coinbase account, the hacker engaged in other fraudulent activities, including:Opening new credit cards in my name (Venmo, Apple Card, PNC, Chase).Pulling a $100,000 margin loan from ******.Withdrawing $800 in cash from my Amex account.Withdrawing $200 from Cash App.Making bulk purchases totaling over $1,000 on three cards connected to Apple Pay.All other financial institutions responded quickly to the fraud and helped me correct or stop the unauthorized transactions. However, Coinbase has refused to take responsibility for the $6,600.25 theft, citing that cryptocurrency transactions are irreversible and stating that account holders are responsible for their own security.Despite multiple red flags and clear signs of account compromise, ********************** failed to act in time to prevent this theft. Their lack of timely intervention directly led to this loss, and I believe they should be held responsible for the security failure.I am seeking restitution for the $6,600.25 in stolen funds.

  Business response

  09/11/2024

  Hi *******,
  
  Thank you for your patience as we looked into your concern.
  
  Coinbase's decision remains final, and were unable to make the requested changes to your Coinbase account. 
  
  It's important to understand that cryptocurrency transactions are irreversible, and Coinbase does not have the ability to retrieve funds that were sent to unintended addresses and we are unable to provide any mediation with this matter.
  
  For more context, we've sent an email on support case ******** in regards to the lost funds in your account.
  
  If you have any questions unrelated to this issue, please open a new support case through our Help center: *****************************************************
  
  Best regards,
  Coinbase Support

  Customer response

  09/11/2024

   
  Complaint: 22257365
  
  I am rejecting this response because:

  To Whom It May Concern,
  I am extremely disappointed with Coinbase's response. You keep reiterating that cryptocurrency transactions are irreversiblethis is not, and has never been, the point of my complaint.
  The core issue is that Coinbases security system failed to protect my account after clear red flags: two failed Bitcoin transactions, the removal of payment methods, and suspicious activity that should have triggered an immediate account lockdown. The irreversible nature of cryptocurrency is irrelevant here. This is about your platform's failure to act when it mattered most, not the transaction itself.
  The analogy Id use is simple: If someone breaks into a bank and moves money out, the bank cant just wash its hands and say, "The money is gone, theres nothing we can do." Your security system failed at a critical moment, and the result was the theft of my funds. I dont expect you to reverse the transactionI expect you to acknowledge the security breach and take responsibility for allowing it to happen.
  Please stop hiding behind the excuse of irreversible transactions and focus on addressing your platforms security failures, which allowed this theft to occur.
  I look forward to a response that addresses the actual problem.
  Best regards,
  ***************************

  Business response

  09/12/2024

  Hi *******,
  
  Thank you for the response. We're really sorry to hear about the issues you've been experiencing. At Coinbase, we take the security of our users' accounts very seriously. We have a number of measures in place to detect and prevent unauthorized access, including monitoring for suspicious activity and implementing rate limits around sensitive actions.
  

  After reviewing your support case, we have identified that we are not able to provide you with any further assistance at this time. We have exhausted our internal resources and provided you with the most accurate and up-to-date information available. 

  In the past, other customers have tried reporting this incident to their local law enforcement, as they may be able to assist in the recovery of funds.

  We've sent an email on support case 20248243 in regards to the lost funds in your account.
  

  As a Coinbase user, you are responsible for the security of your devices, passwords, emails, and 2-step verification codes. We have multiple Privacy and Security articles to help you keep your account secure and this is also included in our User Agreement.

  I'm truly sorry for the inconvenience you've experienced and we appreciate your patience as we work to resolve this issue. We are not able to further assist you with this specific issue and will be closing this case.
  
  Best regards,
  Coinbase Support

  Customer response

  09/12/2024

   
  Complaint: 22257365
  
  I am rejecting this response because:

  I am writing to highlight Coinbase's repeated failure to take responsibility for their own security lapses and their inadequate customer service throughout this process.

  
  In Coinbases most recent response, they continue to deflect blame onto me by citing user responsibility for security, passwords, and 2FA. However, they are missing the crucial point: the breach occurred after my phone was stolen. Once that happened, 2FA was irrelevant because the hacker had physical control of my phone, and Coinbases system failed to respond appropriately to red flags.
  Had Coinbase simply shut down my account after two large failed BTC transactionsclear signs of suspicious activitywe wouldnt be here. Instead, they allowed my account to remain open, leading to the theft of $6,600.25 in *******. Their repeated statements that cryptocurrency transactions are irreversible only further deflect from the real issue: Coinbases security protocols failed when I needed them most.

  
  Rather than taking accountability, Coinbase is closing my case and advising me to report the matter to law enforcement. I have already taken that step, but it does not absolve Coinbase of their responsibility to protect their users.
  I would appreciate the BBB's help in holding Coinbase accountable for their failure to provide adequate security measures and their refusal to take ownership of this security failure. Coinbase is deflecting responsibility instead of taking steps to improve their platform and protect users like me.

  
  Thank you for your time and assistance in addressing this matter.
  

  Sincerely,

  
  ***************************

  
  
  Sincerely,
  
  ***************************

• Initial Complaint

  09/08/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I have been attempting to verify my identity with Coinbase so i can start investing sending and receive in my crypto currency. I have not been able to verify my identity because the link you guys send people to verify themselves doesnt work when you get to the selfie part the camera isnt a camera its literally just a black screen. I cant take a selfie of myself if the camera wont load Ive tried it 4 times and i have an iPhone so i know it isnt my phone or camera. This is absurd.

  Business response

  09/11/2024

  Hi ******,
  
  Thank you for your patience as we looked into your concern.
  
  We are unable to locate an account registered to the email address you are currently writing us from. 
  
  We've sent an email on support case ******** and asked for this detail so we can better assist you with the verification issues in your Coinbase account.
  
  If you have any questions, feel free to reply on the case ID mentioned above.
  
  Thank you,
  Coinbase Support

• Initial Complaint

  09/07/2024

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  I established my Coinbase account on August 22nd, ***************************************************** NFT market. Following a deposit made on August 24th, 2024, and successful identity verification using my passport, I commenced utilizing Coinbase's services, including participation in various events. However, on September 5th, 2024, an attempt to withdraw ****** SOL to the linked wallet (used for all previous transactions) resulted in my account being blocked without explanation. Upon contacting Coinbase customer service, I was informed that the account suspension was a security measure and required further identity verification. While prepared to provide my ID, the requested verification process involved taking a selfie holding a paper listing "For Coinbase Verification plus today's date" in one hand and my driver's license in the other. While unusual, I complied and submitted the picture. During a subsequent conversation with a customer service representative, the request was repeated with my passport instead of the driver's license. Despite complying, I was then instructed to access the sign-in page and click "forgot password" despite knowing my current password. I declined this request due to its highly unusual nature. The call was abruptly terminated, and subsequent calls involved increasingly strange requests for a video recording of me holding a paper, voice recordings, and other peculiar actions. This extreme and inexplicable difficulty in unlocking my account, despite previous identity verification, raises serious concerns about the legitimacy of these requests. The erratic nature of the verification process has led me to believe that this situation may be fraudulent. I definitely do not want get my identity stolen.I kindly ask you to help me accordingly!Coinbase case numbers:20263307 ********

  Business response

  09/11/2024

  Hi ****,
  
  Thank you for your patience as we looked into your concern.
  
  We've sent an email on support case 20266377 in regards to the verification issues in your Coinbase account.
  
  Please feel free to reply on the thread if you have additional questions or concerns.
  
  Best regards,
  Coinbase Support

  Customer response

  09/12/2024

   
  Complaint: 22254934
  
  I am rejecting this response because:
  
  Dear Coinbase,
  
  The selfie has been uploaded accordingly as per your request. I kindly ask you to review this case as soon as it is possible.
  Please note that I previously submitted two others selfies and I am still remain confused why you requested a new one.
  Thank you for your understanding.
  
  Sincerely,
  
  *******************

  Business response

  09/17/2024

  Hi ****,
  
  Thank you for your patience as we looked into your concern.
  
  We've sent an email on support case 20266188 in regards to the verification process.
  
  We will send an email on the case ID mentioned above if we have any additional questions or concerns.
  
  Best regards,
  Coinbase Support

  Customer response

  09/17/2024

   
  Complaint: 22254934
  
  Dear Coinbase Support,
  
  This message is to follow up on my account verification process. I have uploaded my selfie for verification three times, the last case number is ********, but I have not yet received a response. 
  
  I am eager to regain access to my Coinbase account as soon as possible. I understand that verification procedures are necessary for security, and I am confident that the documents I submitted meet all requirements.
  
  Please investigate the delay in my account verification and take any necessary steps to expedite the process.
  
  Thank you for your understanding.
  
  
  *******************

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩