Money transfer, virtual currency, or money service -- Fraud or scam -- Complaint #6100497
Complaint Overview
Complaint ID: 6100497
Company: Coinbase, INC.
Product: Money transfer, virtual currency, or money service
Sub-Product: Virtual currency
Issue: Fraud or scam
State: Kansas
ZIP Code: 668XX
Date Received: 2022-10-18T12:00:00-05:00
Date Sent to Company: 2022-11-02T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I would like to draw your attention to XX/XX/2022, and XX/XX/2022 I sent my complaint letter to Coinbase, in which I clearly stated how this scam has affected me personally, psychologically, and financially. I am afraid I have had to go through so much " bureaucracy '' thus far in order to catch their attention to my concerns. This really doesn't show their complaints department in a good light, to say the least ; and certainly, does not contribute to my overall satisfaction and peace of mind. My complaint is against the bank that did not do its job properly ( could not prevent/foreseen fraud and could not conduct a proper investigation ) and not against the vulnerable customer who fell victim and lost all the savings due to the misconduct of the bank. I feel very distressed and cheated, all because no one took action immediately and practice their duty of care, therefore I only request what I believe to be rightfully mine, as all institutions were more than negligent in protecting my account and handling the complaints. I comprehensively provided explanations and proof to my claim, even so, Coinbase never acknowledge my complaint, therefore, I have approached you CFPB and I would like to receive your assistance on this matter. General Obligation : Commencing on or around XX/XX/2022, I fell victim to a multi-layered scam operation orchestrated by XXXX ( the Fraudsters or the Company ), with the design, development, manufacturing, promoting, marketing, distributing, labeling, and/or sale of illegal and outright fraudulent investment services, all of which aim at contributing to the goal of robbing and defrauding clients through a predetermined cycle of client losses to gains. Money was transferred from my XXXX XXXX XXXXXXXX and XXXX XXXX XXXX account in the total amount of XXXX USDT and then to scammers utilizing Coinbase services.
Frequently Asked Questions
What is Complaint #6100497 about?
Complaint #6100497 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 2022-10-18T12:00:00-05:00.
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.