Money transfer, virtual currency, or money service -- Money was not available when promised -- Complaint #11377225
Complaint Overview
Complaint ID: 11377225
Company: Coinbase, INC.
Product: Money transfer, virtual currency, or money service
Sub-Product: Domestic (US) money transfer
Issue: Money was not available when promised
State: California
ZIP Code: 95765
Date Received: 2025-01-03T12:00:00-05:00
Date Sent to Company: 2025-01-03T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Background and Facts 1. Transaction Details : o On XX/XX/year>, I initiated a purchase of {$50000.00} XXXX through my Coinbase account. o The funds were to be drawn from my linked XXXX XXXX account, from which I have successfully executed similar transactions in the past. 2. Transfer Confirmation : o On XX/XX/year>, my bank confirmed the successful completion of the transfer, and I received a confirmation from Coinbase that the funds had been credited to my account with them. ( Reference Code : XXXX ). o The ACH trace number for this transfer is XXXX, and a bank statement confirming the transaction is attached to this letter. Apart of that on my complaint to CFBP against XXXX XXXX- they again confirmed that this transfer was successfully delivered to Coinbase. 3. Subsequent Coinbase Actions : o On XX/XX/year>, I received an email from Coinbase stating that the transfer was not received and that Coinbase recovers ( appropriates ) the amount from my assets. o On XX/XX/year>, Coinbase deducted {$50000.00} from my account. 4. Bank Investigation Findings : o XXXX confirmed that the original transfer of {$50000.00} was successfully completed to Coinbase. o XXXX also reported that a second attempt to withdraw an additional {$50000.00} was made on XX/XX/year>, resulting in a decline ( XXXX Code : Insufficient Funds ) due to the remaining account balance of {$21000.00}. This second withdrawal attempt was unauthorized and unrecognized by me.
Frequently Asked Questions
What is Complaint #11377225 about?
Complaint #11377225 was filed against Coinbase, INC. regarding Money transfer, virtual currency, or money service specifically about Money was not available when promised. It was received by the CFPB on 2025-01-03T12:00:00-05:00.
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.