Money transfer, virtual currency, or money service -- Fraud or scam -- Complaint #4717012
Complaint Overview
Complaint ID: 4717012
Company: Coinbase, INC.
Product: Money transfer, virtual currency, or money service
Sub-Product: Virtual currency
Issue: Fraud or scam
State: Wisconsin
ZIP Code: 53132
Date Received: 2021-09-13T12:00:00-05:00
Date Sent to Company: 2021-09-23T12:00:00-05:00
Company Response: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Purchased XXXX cryptocurrency for a list price of {$0.00}, spent {$2300.00} USD. This price was listed higher than other exchanges but since its what many of us have access to. Paying higher was acceptable as the price would grow and wed sell for higher. However Coinbase pulled the rug out and later decided to manually adjust their price to match other exchanges so those of us who paid more on their platform were now selling for less. The price was now {$0.00}! This was NOT standard market movement, it was manipulation by CB. This was illegal, immoral and absolutely recirculate. In seconds my balance dropped from {$2300.00} to under {$300.00}! again we all know stocks and coins move, price fluctuates etc. this is NOT marked fluctuation - see the picture its straight manipulation and they have a lot of unhappy customers right now. I either want my {$2000.00} difference imbalance back or an adjustment to my amount of XXXX so I can sell it and retain my total of {$2300.00}. Im not selling in the meantime as I would only get {$280.00}!
Frequently Asked Questions
What is Complaint #4717012 about?
Complaint #4717012 was filed against Coinbase, INC. regarding Money transfer, virtual currency, or money service specifically about Fraud or scam. It was received by the CFPB on 2021-09-13T12:00:00-05:00.
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.