Consumer complaint received 2018-03-30
Company: Coinbase, Inc.
State: VA
Product: Money transfer, virtual currency, or money service
Sub-product: Virtual currency
Issue: Other transaction problem

Complaint:
Summary : Coinbase has failed to address, correct or actually respond to the issues on multiple support emails about it technology failure on Thursday XX/XX/XXXX and unauthorized trade. Coinbase does not offer an phone number for customer service/trading issues rather requires one to email support. They however take weeks/months to respond with a pro-form answer and links and never actually address or correct the mistakes made by their technology. They are also in breach of there own terms of service.

Events : Thursday XX/XX/XXXX : I entered an order to purchase XXXX   Ethereum Coins. The trade did NOT go through. I did not ( and have not ) received a confirmation email. My weekly allowable trading dollars did not change. AND I received an error message saying something to the extend of Coinbase was having technical difficulties and to try back later.

Friday, XX/XX/XXXX: I re-entered an order to purchase XXXX Ethereum Coins. The trade was processed. I received a confirmation email. My weekly allowable trading dollars were reduced.

Saturday, XX/XX/XXXX : I noticed a debit in my bank account for the wrong dollar figure. As I would later find out, Coinbase held my trading order from Thursday and processed on their own. I emailed Support explaining that the trade should not have been executed based on the error message, and lack of confirmation etc. I asked the to correct there error and bust the trade.

Tuesday, XX/XX/XXXX: I received an email back with a stock or pre-fabbed response with links and description from there FAQs. It was clear no one actually read my email nor addressed the issue.

Tuesday, XX/XX/XXXX : I responded to the response with the following email : " I submitted an issue via email 2 weeks ago and received a stock response this morning. The response failed to address the Coinbase technology issue that resulted in a duplicate trade, failure to provide any confirmation and failure to provide any solution or resolution.

Please allow this follow up email to serve as my formal complaint against coinbase, coinbases errors and the possible violation of terms and conditions set forth by coinbase.

Again, after attempting to place a trade onXX/XX/XXXXfor XXXX ethereal coins I received an error message. I did not receive a trade confirmation. My weekly available trading balance did not change and nothing happened. The order did not take place- After wait

ing 24 hours and receiving nothing I place another trade for the same XXXX ethereum coins. It wasnt until my account was debited 2x did I notice any problem. My intent and actions wereto purchase XXXX ethereum coins. Coinbase 's known technology issue on that day is at fault. I first emailed coinbase on the XX/XX/XXXX because I believed the debit was in error. I received the below stock answer ... not
acceptable.

As such, and due to the failing of coinbase I kindly request you bust the trade on XX/XX/XXXX for XXXX ethereum coins. Please let me know immediately how you will/wish to proceed. '' Wednesday, XX/XX/XXXX: I received a response from XXXX that again ignored the issue. Email stated : Hello there, All transaction that was made on your account are completely successful. " Wednesday, XX/XX/XXXX : I responded with : " XXXX, Please escalate to your supervisor as it is clear you are incapable of addressing any of the questions or concerns stated in my previous emails. Please ask them to contact me and address the issues at hand : your systems malfunctioned causing problems. Furthermore, your response to a formal complaint is not even a sentence- this is beyond insufficient and inadequate.

Friday, XX/XX/XXXX : I received the following : " Hi there, Thanks for reaching out. Having investigated the issue, I am working with a specialist to address it properly. We will follow-up with you as soon as we have an update. Thank you for your patience. '' Friday, XX/XX/XXXX : " Hi there, Thank you for contacting Coinbase support. We know that it has taken a while to reply. Were working to improve our response times as quickly as possible and want to check if your issue has been resolved.

Sunday, XX/XX/XXXX : I responded : ...

Wednesday, XX/XX/XXXX : I received an identical response to the original email I received on XX/XX/XXXX.

Please help as it has been made clear that coinbase lacks the infastructure or desire to address and respond to unauthorized transactions made by them AND they have, without permission debited my account and held my funds for over 2 months now.

Company response to consumer: Closed with explanation