Money transfer, virtual currency, or money service -- Fraud or scam -- Complaint #10512735
Complaint Overview
Complaint ID: 10512735
Company: Coinbase, INC.
Product: Money transfer, virtual currency, or money service
Sub-Product: Virtual currency
Issue: Fraud or scam
State: Tennessee
ZIP Code: 37013
Date Received: 2024-10-19T12:00:00-05:00
Date Sent to Company: 2024-10-19T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Dear Sir/Madam, on XX/XX/year> I reached out to Coinbase and they responded through their virtual assistant and an agent to my enquiry on whether I would be able to withdraw immediately if I bought XXXX on Coinbase the same day and both responded that yes I would that their existed no restrictions to immediate withdrawals. Today the XX/XX/year> I bought {$4100.00} worth of XXXX XXXX and wanted to withdraw them to make payment on an account that generates income for me daily and I was informed that I would only be given access to my funds on the XX/XX/year> by XXXX, I am currently XXXX I reached out immediately to their help desk informing that these development was contrary to the representation I was given before transacting. I trade and use these XXXX to earn a living and as a result of their breach of contract I lost my business income today and based on the date they told me I would have access to the XXXX I bought, I would lose an entire week 's income, my trading account would be delinquent for 7 days and my credit rating would be negatively affected. I pointed out all these damages I would suffer as a result of the breach of contract from their end but they refused to listen to me stating it was their policy to put an account on hold for customer protection which I find to be extremely dishonest. Kindly use your good office to help prevent a law abiding, hard working tax paying, US Citizen to suffer monumental damages and losses due to the flagrant breach of contract by Coinbase. Thank You
Frequently Asked Questions
What is Complaint #10512735 about?
Complaint #10512735 was filed against Coinbase, INC. regarding Money transfer, virtual currency, or money service specifically about Fraud or scam. It was received by the CFPB on 2024-10-19T12:00:00-05:00.
How did Coinbase, INC. respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Money transfer, virtual currency, or money service) and describe your issue in detail.
Can I see other complaints against Coinbase, INC.?
Yes, visit the Coinbase, INC. company profile at readthecomplaint.com/company/coinbase-inc to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.