Money transfer, virtual currency, or money service -- Other service problem -- Complaint #10666823
Complaint Overview
Complaint ID: 10666823
Company: Coinbase, INC.
Product: Money transfer, virtual currency, or money service
Sub-Product: Virtual currency
Issue: Other service problem
State: Oregon
ZIP Code: 97068
Date Received: 2024-11-02T12:00:00-05:00
Date Sent to Company: 2024-11-02T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Coinbase Case Number : XXXX Account Holder with Coinbase since XX/XX/XXXX Latest customer support phone transaction ID : XXXX XXXX XXXX I am filing this complaint against Coinbase for improperly restricting access to my account funds, resulting in significant financial and personal inconvenience due to Coinbases prolonged delays, lack of communication, and inadequate customer support. I have been a Coinbase customer since XX/XX/XXXX, and until XX/XX/XXXX, I experienced no issues with compliance or account access. In XX/XX/XXXX, Coinbase allegedly sent an email regarding a compliance review, requesting my response to restore full access to my account. I did not receive or respond to this email, possibly due to thinking it was spam. When I attempted a transaction in XX/XX/XXXX, I discovered my account was restricted and flagged for manual review. Since then, I have encountered multiple issues as follows : XXXX. Repeated Customer Support Failures : On XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX, I contacted Coinbase support via phone, requesting assistance to resolve the restriction and receive the compliance email. Despite multiple assurances that I would receive the compliance email within the next week, I have not received the promised email, and my case has even been accidentally closed and reopened, showcasing their lack of care. Support representatives have been unable to provide a means to escalate my case effectively. I should note that a monthly fee of {$30.00} a month is required in order to have access to 24/7 phone support. It seems like they just want to verify my identity with that email, but every time I contact them by phone, they have me confirm my name and date of birth, which is already confirming who I am. 2. Conflicting or Misleading Account Information : My Coinbase app and website account display a message instructing me to Check your email for next steps, yet no option exists to resend the email. Additionally, an option to verify identity on the website redirects to an unrelated account settings page, creating further confusion and blocking any means of resolving the restriction. 3. Financial Impact Due to Prolonged Restriction : The account restriction has prevented me from making transactions during several market opportunities, limiting my ability to invest or withdraw funds as intended. Coinbases failure to provide timely and effective support has severely impacted my right to access and manage my account funds. Despite multiple attempts to follow Coinbases instructions to wait for the email, I have been met with delays, miscommunication, and inadequate guidance. They have not provided a reason for any of the delays and they always say they are escalating the case, but nothing ever happens. I have been left in the dark by them and have thousands of dollars that are essentially wrongfully frozen.
Frequently Asked Questions
What is Complaint #10666823 about?
Complaint #10666823 was filed against Coinbase, INC. regarding Money transfer, virtual currency, or money service specifically about Other service problem. It was received by the CFPB on 2024-11-02T12:00:00-05:00.
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.