Consumer complaint received 2022-02-23
Company: Coinbase, Inc.
State: IL
Product: Money transfer, virtual currency, or money service
Sub-product: Foreign currency exchange
Issue: Fraud or scam

Complaint:
XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX, IL XXXX XX/XX/2022 Coinbase.com XXXX XXXX XXXX XXXX  XXXX XXXX XXXX, CA XXXX Re : Reopen due to discrepancies ( Fraud is noted ) XXXX CFPB XXXX Dear Consumer Financial Protection Bureau & Coinbase.com : As I have submitted my feedback to you in nature to Coinbase.coms answer or response. I would like to add for the record and ask you to submit this complaint back to Coinbase for factual evidence where it says in any written communication that I submitted something to someone that claimed to be working for Coinbase.com and on Coinbase.com behalf. 
In the following stated communication where it is addressed to XXXX XXXX XXXX and not directly to me ( XXXX XXXX ). Where in the records where it was ever noted and stated that such cryptocurrency XXXX XXXX XXXX sent anything to XXXX XXXX or XXXX XXXX. XXXX XXXX or XXXX XXXX claimed to be working for Coinbase.com so how can such be sent to XXXX XXXX or XXXX XXXX or Coinbase.com. If such is true, accurate, or correct then Coinbase.com could have easily dealt with the matter or situation and STOP everything at that moment for the records. 

Coinbase.coms records do not show any such information that such was properly authorized and as you can see by the attached statement from Coinbase.com it clearly stated and noted that such was not authorized or never was authorized. 

Now it is very easy for Coinbase.com to sit there and say that such to any such blockchain address are irreversible but such was not submitted or processed for over a 72-hour period in which I clearly had time to contact XXXX XXXX XXXX XXXX XXXX and Coinbase.com not to honor or accept any transaction activities coming into my XXXX XXXX XXXX XXXX account coming from a Coinbase.com You can use such section or such agreements after the facts they are not proper or should not be used or brought up in this matter at this point for such if FRAUD and based on the Statements provided by Coinbase.com it is clearly stated and noted that such activities, claims, and statements made by Coinbase.com are fraudulent. 

Coinbase.com have the direct contact of the person or criminal using their system to transmit such illegal transaction where they can immediately request such funds to be recalled back from such backend account for if something is set up to receive then there should be information there in accordance with the Federal Trade Commission Regulations to know who, where and the exact person name and address or account where such funds are going to or have gone to if not then this is clearly an illegal business set up to support money laundering and other illegal activities. 
No one can not say that this business is not an illegal transaction pool to support criminal activities. 

If Coinbase.com feels that criminals are not using their platform for illegal use in any form as necessary or possible they should immediately contact the Federal Bureau of Investigation ( FBI ), XXXX and report such matter. 
Coinbase.com mentioned a subpoena and they clearly know in order for a subpoena to be generated one will have to file a complaint with the Circuit Court in the district where the criminal act too places and from filing such complaint and getting a case number for civil damages a subpoena will be brought up at that time. While I have Coinbase.com before the Consumer Financial Protection Bureau. I would consent to a Jury Trial in any court of law to validate and support my claim or complaint before Consumer Financial Protection Bureau and the Federal Trade Commission for the evidence already speaks for themselves and it was Coinbase.com should have honored all requests not to process anything to my XXXX  XXXX XXXX, XXXX. account. Coinbase refused to take notice and see that something was not right, and such transaction clearly fit in in accordance with Coinbase.coms cancellation and Reversal Policy. Why have such a policy if you dont honor such a policy? Such policy is clearly stated in written form the conditions under which such reversal should be honored. This is clearly noted and well documented as a crime. Coinbase.com should have immediately noticed that the transaction involves ( or has a high-risk involvement in ) money laundering. If money laundering is not in clear view, then Coinbase.com must show under the letter of the law that money laundering is not in this case and prove why such is not a money laundering issue or matter. Coinbase.com has the Federal Bureau of Investigation, IC3 at this disposal and for immediate assistance. Why havent Coinbase.com once shown any evidence or commitment to notify the Federal Bureau of Investigation? 

It is noted that if Coinbase.com is claiming that XXXX XXXX or XXXX XXXX is not an employee or staff person or member of Coinbase.com then right there this is a fraud and a serious scam case or complaint here until Coinbase.com can prove otherwise. So far Coinbase.com has not proved anything, but they have made several contradicting statements here. 

This can be a serious issue or terrorist financing, fraud, or other types of financial crime. If such does not fit into this complaint, then what kind of a complaint is this Coinbase.com? 

If youre going to respond and asked for time to collect your thoughts and your facts, then where are your facts in your answer or response here. Coinbase.com still has not produced anything but they still have my funds and know where such funds went to and know who account these funds went to. Money just doesnt go out to someone, and no one knows the end destination of such funds. This is no excuse and is not acceptable. 

You are trying to say and tell me that Coinbase did not or do not reasonably suspects that the transaction is not erroneous ; or Coinbase.com does not suspect the transaction is related to Prohibited Use or Prohibited Business as they so claim as set forth under the description and layout of this complaint, In Coinbase.com own words it clearly say and tell everyone that Coinbase.com will reverse the transaction and that Coinbase.com is under no obligation to allow any investor to reinstate a purchase or sale order at the same price or on the same terms as the canceled transaction. Did I say or tell everyone that I clearly immediately notified both XXXX  XXXX XXXX, XXXX, and Coinbase.com not to go through or continue with any transaction to my XXXX XXXX XXXX, XXXX account? Yes, I did. Did I act in a reasonable manner to notify Coinbase.com of suspicious activities here? Yes, I did. Why Coinbase.com did not honor such a request for I strongly and fully believe that Coinbase.com and XXXX XXXX or XXXX XXXX are working together in some form or fashion. 

By law, I am entitled to see licenses by Coinbase.com to operate and have an internet business to fully function and operation as a financial service merchant. As of this date, I still have not seen or received anything from Coinbase.com. 

I am too by law required to see licenses for this business and to have the physical address of such business legal counsel of record. As of this date, Coinbase.com has not sent me anything by first-class mail showing such legitimacy. By law, I am entitled to get Coinbase.com legal counsel of record information for my record for any further legal processing or matter as well as get all employees of records in case this matter should go before a judge in a courtroom or arbitration. 

I turned over Coinbase.com information Coinbase tried to cover this up by sending such to XXXX  XXXX XXXX, XXXX. claiming they have full right to pull funds from my account after submitting a cease or stop a transaction after seeing something was not right. 

Therefore, this complaint is not complete and should not be closed for Coinbase.com still has not produced anything that is legal, accurate, and make any sense to counterattack the records that I have submitted validating this complaint. 

Coinbase.com should be returning my {$10000.00} immediately and show valid records such as sworn statements and official and legally written declarations for the records. If such can not be produced, then my complaint serves its purpose. 

In Coinbase.com answer coinbase.com did not show any effort in accordance with the attached records given by the Federal Bureau of Investigation and the Federal Trade Commission showing they have done everything they had to do to corporate with law enforcement. This should show and tell everyone that this matter does not matter to them, but they are in support of such illegal events and illegal activities. 
Sincerely, XXXX XXXX Complaint, Fraud Victim

Company response to consumer: Closed with explanation