Money transfer, virtual currency, or money service -- Other transaction problem -- Complaint #4559479

Complaint Overview

Complaint ID: 4559479

Company: Coinbase, INC.

Product: Money transfer, virtual currency, or money service

Sub-Product: Virtual currency

Issue: Other transaction problem

State: California

ZIP Code: 95831

Date Received: 2021-07-20T12:00:00-05:00

Date Sent to Company: 2021-07-20T12:00:00-05:00

Company Response: Closed with monetary relief

Timely Response: Yes

Consumer Disputed: N/A

Submitted Via: Web

Consumer Narrative

Let me start by saying that I have NEVER had to file a complaint against a company. Im pretty understanding when it comes to customer service/resolution since I know it can take some time for a company to fix a problem. On XXXX XXXX XXXX ( pacific time ) I was at work when I received a weird text message from an XXXX phone number ( XXXX ). It had a verification code that said it was from COINBASE, but did NOT contain a link. I immediately knew something was wrong because I never saw that number from Coinbase before. Almost instantly after, I got another text from Coinbase ( # XXXX ) that said my account recovery was being processed and my two step recovery had been changed as apart of the process. Since Coinbase doesnt have live support I called the XXXX number to lock my account. They sent a text from the same number about XXXX minutes later saying that the request was cancelled. However I still logged in to see the amount of crypto that I had was sent to another wallet address ( essentially stolen ). The hackers also took {$200.00} from my debit card that was linked to my account to purchase XXXX. I contacted my bank account to close my card. I also opened a support ticket with Coinbase that same morning this happened. After work I get home and see that Coinbase responded to my case by email. Coinbase told me that they would be able to help me get my account recovered since they saw that I had called and locked my account earlier that day. They told me to make sure that all of my accounts were secured and to reply to the same email thread when I was ready to begin my account recovery. Knowing that I had already done my steps to secure everything, I immediately responded saying that I was ready to begin. Shortly after I get an email stating : Thanks for reaching out. Having investigated the issue, we are working with a specialist to address it properly. We will follow-up with you as soon as we have an update. The following morning on XXXX XXXX, they respond to the email saying that a specialist would be investigating and reach out to me in the email thread within 4-5 BUSINESS DAYS. I was also in for a surprise when I saw that their was an unauthorized ACH transfer from my account of {$200.00} causing me to overdraw my bank account. I asked them in the email thread how was someone able to still have access if I locked my account yesterday? NO RESPONSE. I reached out again on XX/XX/2021 to see if they were able to help me as well as open a new ticket but they just redirected me to the same email thread. On XX/XX/2021 I filed a complaint hoping that they would take me serious but they stated : We are writing in response to your XXXX XX/XX/2021 complaint regarding unauthorized transactions on your Coinbase account. Coinbase has received your formal complaint regarding unauthorized access to your Coinbase account. Your account safety is our priority and we need to take certain steps to secure your account. Someone from our team will contact you with further instructions regarding securing your account and any potential credits to your account due to the unauthorized access. Please allow us to resolve your issues through our Coinbase Support Team first and if you are still dissatisfied with our resolution at that time please submit a new Formal Complaint. At this point it is now XXXX XXXX and I still havent gotten access to my account. I know this was a lengthy complaint but I have tried everything to get help : - I filed a police report that day ( XX/XX/2021 XXXX since I did have money from my account stolen ( just to have it on record ). - I tried reaching out to them via social media. - I have tried opening a new case because they just abandoned the original case. - I have tried researching online to see how others have gotten account issues like SECURITY resolved. I have filed another complaint on XX/XX/2021. Tried to open a new case. And have even provided my identification to the email threads so they wouldnt have to waste time asking me for it. The new cases that I did try to open would just be closed without having my problem resolved. Im honestly at the end of my rope and I have told Coinbase this but they DONT CARE. I take full responsibility for the loss of my XXXX, but it becomes an issue to where someone else can access my account and not myself. I have not asked them for any money back or anything of that sort, I just wanted them to restore my XXXX that the hackers changed so I can have access back to my account. Lastly, The company has asked for personal information when I created the account and when tax time comes around the hackers can have access to my ssn on the forms that they upload online. I need help. I am at the end of my rope.

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This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.

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