Money transfer, virtual currency, or money service -- Other transaction problem -- Complaint #11276120
Complaint Overview
Complaint ID: 11276120
Company: Coinbase, INC.
Product: Money transfer, virtual currency, or money service
Sub-Product: Virtual currency
Issue: Other transaction problem
State: North Carolina
ZIP Code: 28451
Date Received: 2024-12-24T12:00:00-05:00
Date Sent to Company: 2024-12-24T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Servicemember
Consumer Narrative
In XXXX of XXXX I opened a COINBASE account purchased XXXX ( {$500.00} on XXXX XXXX, {$200.00} on XXXX XXXX ), XXXX ( {$150.00} on XXXX XXXX, {$100.00} on XXXX XXXX ) and XXXX ( {$100.00} on XXXX XXXX and {$100.00} on XXXX XXXX ). On XXXX XX/XX/XXXX my account was drained by somebody/something. XXXX {$1400.00}, XXXX {$550.00}, and XXXX {$96.00} were removed from my account leaving it with a balance of {$0.00}. Since I did not access the account since XXXX of XXXX I did not realize I'd been the victim of a crime until XXXX or XXXX. My attempt to get back into my COINBASE account was arduous and I could not get any help or feedback from CONBASE. I followed up seriously XXXX XX/XX/XXXX ( obtained account access took multiple steps including scanning my passport and a video call ) and did chat with " XXXX. '' COINBASE 's response was : " once the transaction has already been completed there is no way that we can recover funds. If I have the option to manually recover these funds I will do that immediately since I'm a consumer also and I don't want to lose any money but I hope you understand that were just following instructions and policies in Coinbase. '' COINBASE then locked my account ( I saved the transactions ahead of time in case COINBASE tried to block my information ) and advised me to scan my devices with anti-virus software, update my device operating systems, and check my email for any unfamiliar rules, filters, or forwarding addresses. Being that the last transaction on my account was the theft on XXXX XX/XX/XXXX this is not a good faith path forward but seems like an attempt to dissuade further action on my part. What recourse do I have? Understand the funds are not FDIC insured but COINBASE should not be able to have my funds removed with no recourse.
Frequently Asked Questions
What is Complaint #11276120 about?
Complaint #11276120 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 2024-12-24T12:00:00-05:00.
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.