Money transfer, virtual currency, or money service -- Fraud or scam -- Complaint #6681278
Complaint Overview
Complaint ID: 6681278
Company: Coinbase, INC.
Product: Money transfer, virtual currency, or money service
Sub-Product: Mobile or digital wallet
Issue: Fraud or scam
State: Georgia
ZIP Code: 305XX
Date Received: 2023-03-11T12:00:00-05:00
Date Sent to Company: 2023-04-07T12:00:00-05:00
Company Response: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Case # XXXX On XX/XX/XXXX my Coinbase " XXXX '' wallet was " dusted. '' ( aka " Dusting Attack '' ) There was a unfamiliar cryptocurrency inside the " newly '' added application called the " dapp Wallet '' ( functionality added to supposedly give access to web XXXX crypto websites. ) After reporting and opening a case, coinbase has not only ignored my case for over 3 months, they've also refused to give access back to my " Trading Account. '' The terminology they've used is as follows : " Why the wait? We understand it may be frustrating to wait, but this is the fastest way to get back into your account. Contacting out customer support team could delay your account review by several weeks. '' The review of my account was supposed to end XXXX XXXX, XXXX. XXXX date is XX/XX/XXXX. I believe that coinbase is systematically involved in shutting out customers whom have large amounts of funds on their platforms. Using the funds to manipulate cryptocurrency prices, and then either " allowing '' certain customers access back, or " retaining '' the funds of others for extended periods of times. Not only to boost their stock prices but also to " boost '' the prices of cryptocurrency they offer. This is Fraud. This constitutes " Ponzi Scheme, '' even under the most basic interpretation of United States Tax Law Code. My losses to this company are the most I've experienced. Ever. Being locked out of over XXXX $ of my own personal funds, for months, constitutes theft and scam in my book. No explanation for their email support, and zero reply to my case 3 months after the promise of my account being restored. This also, as a note, happened almost 2 weeks after the XXXX collapse and theft of Billions of customer funds. It seems coinbase has taken a " slow burn, '' approach to the appropriation of customer funds instead of a " total collapse, '' as XXXX had. Its apparent to me, that coinbase is either mismanaging customer funds, as I'm apart of the group they've stolen from, if not directly, in part. However, even in part, this is against the law. My case is either being delayed on purpose, or in order to give the entity known as " Coinbase Inc. '' time to re-organize their holdings in order to better meet a legal case already being brought forth against them, or future such cases that will be, based on their already " suspicious, '' activity. That of which I've directly observed. My such case is on of XXXX other such cases ( that I know of ) that are quickly turning into legal action against " Coinbase XXXX '' XXXX Customer Support, XXXX Response from anyone representing coinbase. XXXX accountability by " The Worlds Number XXXX Cryptocurrency Trading Platform. '' I believe this to be fraud, theft/scam, and a Ponzi Scheme, if not on the world stage as I claim here, in part for my case. Which, is still illegal in any case. Whole, or part.
Frequently Asked Questions
What is Complaint #6681278 about?
Complaint #6681278 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 2023-03-11T12:00:00-05:00.
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.