Money transfer, virtual currency, or money service -- Money was not available when promised -- Complaint #8394803
Complaint Overview
Complaint ID: 8394803
Company: Coinbase, INC.
Product: Money transfer, virtual currency, or money service
Sub-Product: Virtual currency
Issue: Money was not available when promised
State: Illinois
ZIP Code: 62269
Date Received: 2024-02-21T12:00:00-05:00
Date Sent to Company: 2024-02-21T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
On XX/XX/2023, I initiated what is known as a " reversal '' of a Bitcoin deposit to my XXXX XXXX XXXX wallet. XXXX informed me it was unable to accept it due to unspecified " security reasons. '' I reversed it to my Coinbase Bitcoin wallet. Upon inspection, it was sent to coin base with less than ten percent of the original fee. Coinbase shows it as received. XXXX XXXX confirms it was received by coinbases network on the tenth. However, I still do not have access to the funds. Coinbase has stated it has simply not been confirmed and to contact XXXX XXXX. XXXX states to contact receiving wallet. My tax documents from either sight don't show this amount in any of the 1099s for 2023. I do not know who I need to contact regarding this. It is the industry standard that after a few weeks at most the funds will be kicked out of the mempool and would need to be resent. It has been three months. I have contacted both companies numerous times seeking resolution. Exact dates and times would be excessively burdensome due to the sheer amount.
Frequently Asked Questions
What is Complaint #8394803 about?
Complaint #8394803 was filed against Coinbase, INC. regarding Money transfer, virtual currency, or money service specifically about Money was not available when promised. It was received by the CFPB on 2024-02-21T12:00:00-05:00.
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.