Money transfer, virtual currency, or money service -- Other transaction problem -- Complaint #12694039
Complaint Overview
Complaint ID: 12694039
Company: Coinbase, INC.
Product: Money transfer, virtual currency, or money service
Sub-Product: Virtual currency
Issue: Other transaction problem
State: Maryland
ZIP Code: 21037
Date Received: 2025-03-26T12:00:00-05:00
Date Sent to Company: 2025-03-26T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
On XX/XX/year>, my Coinbase account was compromised. The attacker sold my crypto assets ( XXXX and XXXX ), initiated unauthorized deposits from my linked bank account, and withdrew funds to a fraudulently added XXXX XXXX account ending in XXXX. I noticed suspicious activity within an hour of the first transaction and immediately reported it to Coinbase while multiple transactions, including two withdrawals, were still pending. I was advised by Coinbase support to wait while their specialist team investigated. Despite my fast action, both unauthorized withdrawals were allowed to complete : 1 ) {$980.00} USD to Step account XXXX XXXX ) {$750.00} USD to XXXX account XXXX These actions, along with trading fees and an overdraft fee from my linked bank, led to a total loss of {$1900.00} USD. Coinbase has not yet resolved the issue or explained why the withdrawals were not halted, despite being reported in real time. They have prevented me from submitting a formal complaint while their internal case remains under investigation, with a response timeline of up to 45 days.
Frequently Asked Questions
What is Complaint #12694039 about?
Complaint #12694039 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 2025-03-26T12:00:00-05:00.
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.