Money transfer, virtual currency, or money service -- Unexpected or other fees -- Complaint #4671323
Complaint Overview
Complaint ID: 4671323
Company: Coinbase, INC.
Product: Money transfer, virtual currency, or money service
Sub-Product: Mobile or digital wallet
Issue: Unexpected or other fees
State: California
ZIP Code: 94608
Date Received: 2021-08-29T12:00:00-05:00
Date Sent to Company: 2021-08-29T12:00:00-05:00
Company Response: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Everybody : Read this and complain about coinbase at XXXX XXXX XXXX XXXX XXXX XXXX # XXXX and here : Report possible securities fraud to the SEC. Call OIEA at XXXX, ask a question using this online form, or email us at Help@SEC.gov. This is a public company and they can't pull this BS anymore. Edit : I posted a draft of this : Hi, One XX/XX/XXXX, I had purchased a cryptocurrency from the public company Coinbase. Upon purchasing the cryptocurrency, I was allowed to withdraw it like any other coin on the coinbase platform. The abbreviation for the cryptocurrency purchased was called XXXX XXXX. Basically, I wanted to withdraw the currency, and was able to as well. When I was submitting my withdrawal request, coinbase gave me an estimated time of " instant '' processing time ( Can submit photo evidence ). However, it has already been 8 hours and I have still been unable to withdraw it. I have contacted their support and there is no response through email during market hours. Moreover, they ask for a transaction ID when contacting their specific team of support and I am not even given one. This means that the error is purely from their end and their support for other problems are not even responding. Morever, I am unable to sell or exchange that currency back to anything else. You could imagine, that Coinbase gave me an estimated time of being instant but I am now stuck with the option of waiting over a day without the option to cancel the transaction. For all we know, the price of the cryptocurrency might go to XXXX and I would still be stuck holding the coin waiting for coinbase 's transaction to go through. This is just ridiculous and should almost be fraud in some sense. Who would be responsible for these financial losses? I want to report coinbase for fraud and deceiving lies, which should not be tolerated for a publicly operated company where users deposit their money with a platform. Thanks
Frequently Asked Questions
What is Complaint #4671323 about?
Complaint #4671323 was filed against Coinbase, INC. regarding Money transfer, virtual currency, or money service specifically about Unexpected or other fees. It was received by the CFPB on 2021-08-29T12:00:00-05:00.
How did Coinbase, INC. respond to this complaint?
The company responded with: "Closed with monetary relief". 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.