Money transfer, virtual currency, or money service -- Other transaction problem -- Complaint #12075356
Complaint Overview
Complaint ID: 12075356
Company: Coinbase, INC.
Product: Money transfer, virtual currency, or money service
Sub-Product: Virtual currency
Issue: Other transaction problem
State: Texas
ZIP Code: 77379
Date Received: 2025-02-12T12:00:00-05:00
Date Sent to Company: 2025-02-12T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Subject : Formal Complaint Against Coinbase Misrepresentation & Mishandling of Transactions To the FTC & CFPB, I am filing a formal complaint against Coinbase , Inc. for fraudulent misrepresentation, failure to honor confirmed transactions, and unethical account handling. On XX/XX/XXXX, I made a {$50.00} deposit to my XXXX account. Initially, XXXX claimed the deposit failed, but after multiple inquiries, a XXXX agent confirmed on XX/XX/XXXX that the balance was successfully cleared ( Case # XXXX ). However, on XX/XX/XXXX, I received an email from XXXX falsely stating a collection attempt had failed, contradicting the prior confirmation. When I followed up, a new agent falsely claimed that no payment was made and that XXXX was unable to pull funds due to insufficient funds. This is false, as my deposit was processed and used per CBs policies. Despite repeated attempts, XXXX refuses to acknowledge their internal error and continues providing contradictory information. XXXX XXXX : XXXX falsely claimed my deposit failed, despite prior confirmation that it cleared. XXXX conflicting responses show a lack of internal accuracy and transparency. XXXX refused to provide written confirmation that my account would not face restrictions due to their system errors. I request that the FTC XXXX CFPB investigate XXXX for misleading transaction handling, failure to provide accurate records, and unethical business practices. I demand : Written confirmation that my account will not be restricted due to XXXX error. An explanation for why XXXX falsely claimed my deposit was unpaid. Assurance that XXXX will not attempt further collections on a resolved balance. XXXX handling of this situation has been deceptive and unacceptable. Beyond the {$50.00} financial loss, I have experienced loss of productivity, emotional distress, and unnecessary administrative burden due to Coinbases mismanagement of my account. Their contradictory responses and refusal to provide proper documentation forced me to engage in excessive back-and-forth communication, wasting valuable time and effort that could have been allocated elsewhere. I appreciate the FTC & CFPBs attention to this matter. Sincerely,
Frequently Asked Questions
What is Complaint #12075356 about?
Complaint #12075356 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 2025-02-12T12:00:00-05:00.
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.