Money transfer, virtual currency, or money service -- Other transaction problem -- Complaint #10979550
Complaint Overview
Complaint ID: 10979550
Company: Coinbase, INC.
Product: Money transfer, virtual currency, or money service
Sub-Product: Virtual currency
Issue: Other transaction problem
State: California
ZIP Code: 92114
Date Received: 2024-11-29T12:00:00-05:00
Date Sent to Company: 2024-11-29T12:00:00-05:00
Company Response: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
My Coinbase.com login email is XXXX. As of XX/XX/XXXX, I have XXXX XXXX funds. I purchased this amount myself on XX/XX/2024. However, on XX/XX/2024, Coinbase automatically transferred {$500.00} worth of the funds to their new XXXX wallet. On XX/XX/XXXX, this same issue occurred with the remaining {$300.00}. The value of the funds have fluctuated due to the market. Nonetheless, after multiple outreaches via phone, live tech support, and the XXXX Coinbase thread, I've received ZERO help. I can see the funds but am unable to extract them, convert them, or exchange them in any way. In short, Coinbase automatically pushed my Coinbase primary account funds for XXXX into their newly released XXXX wallet, and won't provide me access to this XXXX wallet in any way. They said they provided me a secure passcode phrase, but I never received that in any way, shape or form from that. Their XXXX wallet is a beta feature they apparently released. I'm seriously concerned that Coinbase is manipulating and defrauding people of their investments through their technology.
Frequently Asked Questions
What is Complaint #10979550 about?
Complaint #10979550 was filed against Coinbase, INC. regarding Money transfer, virtual currency, or money service specifically about Other transaction problem. It was received by the CFPB on 2024-11-29T12:00:00-05:00.
How did Coinbase, INC. respond to this complaint?
The company responded with: "Closed with monetary relief". 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.