Consumer complaint received 2023-04-23
Company: Coinbase, Inc.
State: CA
Product: Money transfer, virtual currency, or money service
Sub-product: Virtual currency
Issue: Other transaction problem

Complaint:
On XX/XX/2023, I received several emails from Coinbase informing me that my cryptocurrencies ( XXXX, XXXX, XXXX, and XXXX  ) were sold at the same time, with a total market value of around {$39000.00} USD. In addition, at XXXX XXXX  PDT, I received two withdrawal emails, one for {$9800.00} USD and another for {$8600.00} USD, which alarmed me. Shortly after, I received an email indicating that my Coinbase account had been locked for security reasons. 

After reviewing the emails, I hoped that they were not true and attempted to log into my Coinbase account to verify their validity. However, I was unable to access my account and immediately began searching online for a way to contact Coinbase directly over the phone. When I noticed that all the emails had a 'contact support ' option, I decided to use those links and spoke to a virtual assistant, who then connected me to a Coinbase agent. I explained the situation, but they refused to discuss the matter in chat text and instead asked me to wait for a follow-up email with more details. 

After finding a phone number to call Coinbase, I spoke with a support specialist, but each time I initiated a call, it would drop, forcing me to reach out to another agent. This experience left me feeling increasingly suspicious about what was happening. Eventually, I was able to speak to an agent who listened to my explanation of the activity on my account. However, he was very rude and warned me that any crypto transactions are irreversible. I made it clear that I wanted all transactions to be stopped and prevented from being executed. He said he would follow up via email, but he also stated that Coinbase was not responsible for any hackers who might have taken control of my account. I disagreed with this, as any transaction made to or transfer made from my account would have a time frame within which the funds should be available to deposit or transfer. Additionally, all of the cryptocurrency transactions were sold and converted into USD cash " they were not transfer to another wallet " this means that the cash has to be withheld before it goes to a bank account or transfer if they did in fact put a restriction like I asked them. 

After unlocking my Coinbase account following the 24-hour period, I noticed that two bank accounts had been added to my account without my knowledge. This made me suspicious that they were being used to transfer money out of my account. I discussed this matter over the phone with Coinbase and brought to their attention that these two accounts were added to my account on XX/XX/2023, and I do not recognize them. 

For the past five days, I've been trying to reach out to Coinbase, but I haven't made any progress. Despite mentioning the issue during our phone conversations, they haven't confirmed whether the accounts are frozen, and they haven't provided any information regarding the two bank accounts that were added to my Coinbase account on XX/XX/2023. As a result, I'm completely in the dark about this entire situation, and I'm in desperate need of assistance.

Company response to consumer: Closed with explanation