Money transfer, virtual currency, or money service -- Fraud or scam -- Complaint #11220326
Complaint Overview
Complaint ID: 11220326
Company: Coinbase, INC.
Product: Money transfer, virtual currency, or money service
Sub-Product: Virtual currency
Issue: Fraud or scam
State: New York
ZIP Code: 125XX
Date Received: 2024-12-18T12:00:00-05:00
Date Sent to Company: 2024-12-18T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
On December 15-16, 2024, my Coinbase account was hacked into. I had opened up an email that day that was later identified as a fraudulent email & my Coinbase account got hacked for around {$5000.00} the following evening. Before it got hacked I went into my Coinbase account to change my password & click on fraudulent account/lock account prompt ( as I noticed it was a phishing scam ) and a prompt from Coinbase popped up after changing my password your funds are secure and I assumed they were based on reading the prompt. After contacting Coinbase customer support, they told me that this prompt pops up automatically. This is very misleading & lead me to believe that my funds were indeed secure when they clearly werent. If I had known my funds werent secure I would have taken extra measures by making sure my account was locked & notifying Coinbase support asap. The very next afternoon my funds were still in my Coinbase account but that evening they were stolen from my account. This is very misleading & I could have done something to stop this fraudulent activity but believed that Coinbase did secure my funds based on reading their prompt & I assumed I was in good hands with a reputable platform but clearly that wasnt the case.
Frequently Asked Questions
What is Complaint #11220326 about?
Complaint #11220326 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 2024-12-18T12:00:00-05:00.
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.