Consumer complaint received 2023-08-23
Company: Coinbase, Inc.
State: WA
Product: Money transfer, virtual currency, or money service
Sub-product: Mobile or digital wallet
Issue: Unauthorized transactions or other transaction problem

Complaint:
Consumer Financial Protection Bureau XXXX XXXX XXXX XXXX  XXXX, Iowa XXXX United States Subject : Complaint Regarding Theft of Coinbase Wrapped Ethereum ( CBETH ) Dear Sir/Madam, I am writing to file a formal complaint regarding the theft of my Coinbase Wrapped Ethereum ( CBETH ) that occurred on XX/XX/2023, at approximately XXXX XXXX  PST. I am extremely concerned about this incident and the implications it has for the security and integrity of my financial assets. I believe that my rights as a consumer have been violated, and I am seeking your assistance in resolving this matter promptly. 

Details of the Incident : Date and Time : XX/XX/2023, XXXX XXXX  PST XXXX XXXX : XXXX Coinbase Wrapped Ethereum ( CBETH ) Estimated Value : Approximately {$65000.00} Timeline of Events : On the morning of XX/XX/2023, I discovered that my Coinbase Wrapped Ethereum ( CBETH ) wallet had been compromised. I immediately checked my transaction history and found that a total of XXXX CBETH had been transferred from my wallet to an unknown address without my consent. This unauthorized transaction took place at XXXX XXXX  PST. I can provide transaction IDs and any other relevant information to aid in your investigation. 

Actions Taken : Upon discovering the theft, I immediately reached out to Coinbase customer support and they told me your funds are gone and key is compromised. But, I have a lot of other assets in the same wallet and I do not think, my key is compromized. I have attached summary of my chat with Coinbase to this complaint. As wallet app is maintained by Coinbase. I asked them about details of when I authorized that transaction. They could not provide it and asked me to reach out to Law reinforcement. 

I have also taken the necessary steps to enhance the security of my account, including changing my passwords, enabling two-factor authentication, and closely monitoring my other cryptocurrency holdings. However, the loss of XXXX CBETH has had a significant financial impact on me, and I believe that the responsibility for this theft lies beyond my control. 

Requested Resolution : I am seeking your assistance in investigating this incident and recovering my stolen assets, or compensating me for the loss I have incurred. Additionally, I request that you investigate Coinbase 's security protocols and measures to prevent such incidents from occurring in the future. The loss of my cryptocurrency has caused me considerable distress and financial harm, and I believe that immediate action is necessary to address this issue. 

Enclosed Documents : Screenshots of unauthorized transaction details Coinbase transaction history Correspondence with Coinbase 's customer support I appreciate your attention to this matter and hope for a prompt resolution. Please do not hesitate to contact me if you require any further information or clarification. I am hopeful that the Consumer Financial Protection Bureau can provide the necessary assistance to rectify this situation and ensure the protection of consumers ' financial interests. 

My coinable wallet address - XXXX Address funds were sent to - XXXX ( XXXX ) Transaction hash - XXXX Thank you for your time and consideration. 

Sincerely,

Company response to consumer: Closed with explanation