Money transfer, virtual currency, or money service -- Fraud or scam -- Complaint #4942125
Complaint Overview
Complaint ID: 4942125
Company: Coinbase, INC.
Product: Money transfer, virtual currency, or money service
Sub-Product: Mobile or digital wallet
Issue: Fraud or scam
State: California
ZIP Code: XXXXX
Date Received: 2021-11-23T12:00:00-05:00
Date Sent to Company: 2021-11-23T12:00:00-05:00
Company Response: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
i initially had XXXX invested in coinbase XXXX app. They allow you to make deposits through ach bank and loan you the money in advance. my bank reveersed a deposit for XXXX on XXXX, XXXX PST, Coinbase completed the transaction by processing your XXXX XXXX for {$1.00}, on XXXX, XXXXXXXX XXXX, Coinbase completed the transaction by processing your XXXX XXXXt for {$350.00}, and lastly, on XXXX, XXXX XXXX, Coinbase completed the transaction by processing your XXXX XXXXt for {$500.00}, which brought your balance down to {$1800.00}. the remainder balance was locked in I couldn't transfer it out even though i hade paid what i owed. they said they finally released my funds on the XX/XX/2021. come to find out when the are holding my account on lock again even though I had paid I attempted to transfer out until the XXXX i still couldn't transfer out my funds. only allowed to trade. I invested again in XXXX XXXX " stablecoin '' the XXXX cents totaling to XXXX tokens. that very same day they disable the coin completely remove it from listing causing the value to drop significantly not allowing my to even access my balance than completely disappears. when it reappears in valued at XXXX my XXXX was now XXXX and to this date I sill cant access what is left of my investment. the restricted sell buy trade and transfer functions. They responded to my with a blunt robo helper that the matter is being investigated still it been about XXXX days since. I've also reached out to XXXX as well they redirected me to your agency. This is my complaint file on XXXX : XXXX : :XXXX I am honest man. a husband father of XXXX. I just want to recover my money. This is to disciple and evil of a rug pull they did. i know im not the only individual who got scammed. their XXXX account is full of its victims. i appreciate your support and thank you for your contribution to our communities
Frequently Asked Questions
What is Complaint #4942125 about?
Complaint #4942125 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 2021-11-23T12:00:00-05:00.
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.