Consumer complaint received 2022-07-21
Company: Coinbase, Inc.
State: TX
Product: Money transfer, virtual currency, or money service
Sub-product: Virtual currency
Issue: Other transaction problem

Complaint:
On or about XX/XX/XXXX, I sold some cryptocurrency on Coinbases mobile app ( a cryptocurrency exchange ). The sale amounted to {$490.00}. Coinbase inadvertently made a duplicate deposit to my XXXX XXXX XXXX account in this amount. I immediately alerted Coinbase and my bank. 
On XX/XX/XXXX, Coinbase retrieved the duplicate ( overpayment ) of {$490.00}. When I first alerted Coinbase to their mistake, they changed the history on my Coinbase account so as not to reflect their own accounting error. I complained to them at the time about that. 
Then, in XX/XX/XXXX, Coinbase locked me out of my account. At the time, I had approximately {$3.00} on their platform. Coinbase confiscated that balance and began claiming that I owe them {$490.00}. Clearly, {$3.00} plus {$490.00} equals {$490.00}. I explained immediately when I realized I had been locked out of my Coinbase account what had happened. I sent Coinbase a copy of my bank statement to prove that they had indeed received back their overpayment to me. 
Coinbase made a bogus claim that I owed this money because I received crypto and my bank reversed the charges. I have refuted this and so has my bank. I do not have any reverse charges on my account to Coinbase or Coinbase , Inc . I have proven that Coinbass claim is not true. There has been no crypto received by me that I did not pay for unless it was staking rewards, quizzes I took on Coinbasess app offered to all Coinbase customers, or other promotional rewards. I have paid for all of the cryptocurrency that I own. These things are easily verifiable because every cryptocurrency transaction is logged on the XXXX XXXX 
Coinbase then threatened to go into my account and force a payment of {$490.00} which I do not owe. I have repeatedly requested for Coinbase to show XXXX XXXX XXXX records which would identify what crypto I supposedly received for which Coinbase was not compensated, how much and on which date. Coinbase has failed to do this because there is no such transaction. 
Simply making a claim that I owe something and then demanding that I pay it is not a good or fair business practice. Coinbase can not show that I received any cryptocurrency from them for which they have not received payment because such a thing did not happen. 
Coinbase then sent me an email with some bogus reference number that I do not have in any of my records and nor does XXXX XXXX XXXX and Coinbase purports that the reference number is for an attempt to buy cryptocurrency where my bank simply did not honor the transaction. Again : attempting to purchase something and being denied is a completely different thing than receiving something and having the charges reversed. 

If Coinbase is willing to lose a customer and lock me out of my account, they should be able to prove what I owe. I reported Coinbase to the XXXX XXXX XXXX after not getting anywhere with the company internally. Coinbase repeatedly said they escalated my issue and they were working on the matter. That was their constant response via the XXXX  to have the appearance of working with me. They never gave a resolution nor have they provided any proof of transaction numbers, supposed XXXX purchased, amounts of crypto purchasedabsolutely nothing. Coinbase is simply making a claim and expecting me to pay for it even though I have irrefutable proof that Coinbase is in error. Apparently this is a common practice of theirs which has resulted in Coinbase receiving a rating of XXXX by the XXXX XXXX XXXX 

In addition to this, last year, in XX/XX/XXXX, when I was new to cryptocurrency, I transferred roughly {$320.00} worth of XXXX  XXXX from my XXXX account to my Coinbase wallet. I did not realize that Coinbase only supported this type of transaction on the Ethereum network at the time. In their investigation regarding the matter I am bringing forth today, Coinbase has gone back and made a deposit on my Coinbase account for this {$320.00} because they are now able to support transactions on the XXXX network. Also, just days ago, I accidentally transferred XXXX ( XXXX  ) cryptocurrency to my Coinbase wallet instead of my intended wallet on a different platform. There is now XXXX dollars of money that belongs to me stuck on the Coinbase platform because they have locked me out of my account. I do not owe Coinbase any money. They have not done one single thing to prove otherwise however they have locked up money that belongs to me and my family. I want it back. 

I no longer have the desire to do business with Coinbase, but I do want my funds off of their platform that belong to me. Please help me get my money back.

Company response to consumer: Closed with explanation