Money transfer, virtual currency, or money service -- Fraud or scam -- Complaint #5154359
Complaint Overview
Complaint ID: 5154359
Company: Coinbase, INC.
Product: Money transfer, virtual currency, or money service
Sub-Product: Virtual currency
Issue: Fraud or scam
State: California
ZIP Code: 91745
Date Received: 2022-01-26T12:00:00-05:00
Date Sent to Company: 2022-01-27T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
My friend, XXXX XXXX XXXX someone on XXXX about Mining Pool using Coinbase Wallet. This scammer said if I open a Coinbase Wallet and deposit USDT ( tether ) you can earn liquidity mining rewards based off USDT. The scammer then sent him a mining certificate that allowed access to the mining pool. I think clicked on the mining certificate which turned out to be a smart contract that gave the scammer complete control of my coinbase wallet on USDT. I then deposited USDT one a time and proceed to earn rewards in USDT. I continued to add USDT when on XX/XX/2021, the scammer emptied my Coinbase wallet and drained all my funds. In total, {$310000.00} was stolen out of my wallet and transferred to other wallets.
Frequently Asked Questions
What is Complaint #5154359 about?
Complaint #5154359 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 2022-01-26T12:00:00-05:00.
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.