Consumer complaint received 2022-06-03
Company: Coinbase, Inc.
State: VA
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Problem with a purchase shown on your statement
Sub-issue: Credit card company isn't resolving a dispute about a purchase on your statement

Complaint:
Summary : A clearly fraudulent charge was made to my Coinbase XXXX card for {$700.00}. Coinbase support was immediately informed of the charges, but failed to prevent the transaction from completing. A dispute was filed with Coinbase, but after weeks, the fraud team closed the claim without reversing the charge. The funds have been taken from my account without my consent, and Coinbase has left me with no further way to combat this fraud. 

-- -- Details : As a user of Coinbase ( www.coinbase.com ), I signed up for a Coinbase Card in XX/XX/XXXX. This is a XXXX debit card issued by XXXX which uses various currencies in a Coinbase account to fund the debit card payments. 

After using the card without issue for many months, I experienced a pair of fraudulent charges on XX/XX/XXXX ( screen shots attached ). My card was still in my possession at the time. 

Charge # 1 : {$5.00} to " XXXX  XXXX XXXX '' on XX/XX/XXXX at XXXX AM ( this charge was later declined ) Charge # 2 : {$700.00} to " XXXX XXXX '' on XX/XX/XXXX at XXXX AM ( this charge originally showed as {$710.00} ) Hours later, when I first noticed these charges, I contacted Coinbase via their website to report the fraudulent attempt. I also followed up by calling the customer service number listed on the website. 

On the phone ( XXXX AM, XX/XX/XXXX ), the Coinbase card representative indicated that nothing could be done as the charge was " still pending ''. I locked the card per his advice, and was left hoping that both fraudulent charges would be declined in due time. 

On XX/XX/XXXX, I received an email ( attached ), which reiterated that the transaction was still pending and that nothing more could be done. He also indicated that my card would be deactivated at that time. 

On XX/XX/XXXX, a second charge by XXXX XXXX was attempted, but it was declined since the card was locked. The original charge for {$710.00} was still pending. 

On XX/XX/XXXX, I replied via email that a charge for {$700.00} from XXXX XXXX had completed. I also followed up via phone on XX/XX/XXXX. The phone representative indicated that a dispute would be opened with a fraud specialist, and I should wait for an email from that team. 

On XX/XX/XXXX, I received indication via email that the Coinbase Card US support specialist was looking into the case ( see attached email ), and that I would receive a follow-up via email. 

By XX/XX/XXXX, I had received no follow-up, so I requested an update via email reply. Within five hours, I received a reply that my fraud dispute was rejected as invalid and that Coinbase would be closing my claim. 

I now have no recourse to fight this fraudulent charge within Coinbase, and my account is missing the {$700.00} which was taken without my consent. 

-- -- Notes : Repeated fraudulent charges from XXXX XXXX to other Coinbase Card holders have been reported online. 

1XXXX XXXX XXXX XXXXCoinBaseXXXX/ 2. XXXX XXXX XXXX/CoinBase/XXXX 3. XXXX XXXX XXXX/CoinBase/XXXX  4. XXXX XXXX XXXX XXXX XXXX XXXX XXXX

Company response to consumer: Closed with monetary relief