Consumer complaint received 2021-04-25
Company: Coinbase, Inc.
State: IL
Product: Money transfer, virtual currency, or money service
Sub-product: Mobile or digital wallet
Issue: Managing, opening, or closing your mobile wallet account

Complaint:
On Thursday, XX/XX/XXXX I discovered that my email account had been compromised. I immediately logged into Coinbase on my iphone. All the Bitcoin I owned was still there, and nothing was out of the ordinary. 

I followed their specific customer service instructions. Coinbase has specific instructions on their site in case your email has been hacked. Their specific instructions are to call their 800 customer service number, and lock the account immediately. I went ahead and called the number. An automated response picked up and said my account was now locked. This seems accurate as Im no longer able to access my account. I received no case number or follow up instructions after having my account locked. 

There was also an online form to submit asking for the specific reason I was concerned about my account. I specifically stated the reason Im locking my account is that my primary email on file had been compromised. I stated in the form that they should not try to communicate with me through the email on file because it has been hacked. The online form also specifically asked whether I still had access to my phone. I answered Yes. I figured I would receive some type of communication from Coinbase by text or call to prove my identity and begin the account recovery process. Coinbase stated on their site that due to high volume they would contact me within 15 days.

Over 15 days have now passed. Not only have I not been contacted by Coinbase, I have not even received any case number to follow-up. Im hopeful Coinbase wouldnt be so negligent as to have sent my case # to the compromised email, but Im concerned this is the case. I tried to follow-up but a case number is required. In trying to follow up, their site says they will only communicate by email. The entire reason I locked this account was because the email on file has been hacked. A compromised email must be a common reason people contact Coinbase to protect their account. Not only is their no human customer service at Coinbase, they may be communicating with the person who hacked my email to restore my account. 

I notified Coinbase as quickly and professionally as possible that my email had been hacked. My level of concern over the past 15 days has grown due to the way Coinbase specifically instructed me to handle this issue. Either this company has been negligent in sending my case number to a hacked email, or negligent in not even sending me a case # after locking my account. 

I own about XXXX Bitcoin on Coinbase. It was all there when I filed the complaint over 15 days ago. Ive lost about XXXX dollars by being unable to access or sell any of this Bitcoin over the past 15 days. Following Coinbase specific customer service instructions cost me money, and seems to have put the funds in my account at greater risk of being stolen by this email hacker. I hope its still there. Im concerned and frustrated that a publicly traded company is allowed to behave in this manner. 

Thank you in advance for your attention to this matter.

Company response to consumer: Closed with monetary relief