Consumer complaint received 2021-11-27
Company: Coinbase, Inc.
State: ME
Product: Money transfer, virtual currency, or money service
Sub-product: Virtual currency
Issue: Wrong amount charged or received

Complaint:
i have contacted Coinbase 3 times about the situation. There customer service is non existent, not helpful, mostly bots with automated messages that are sent. 

they launched a stablecoin called GYEN a XXXX yen to USD peg on the XXXX on there platform. i purchased it as i felt the crypto market had become unstable. i initially purchased quite a few coins the moment it was available. the coin was anything but stable as the price had fluctuated quite rapidly all the way to {$.00}. so there is a possibility that coinbase could have purchased the coins at XXXX and sold them at XXXX a XXXX profit in as little as 2 days, perhaps they hadnt sold off all of the purchased shares. the situation is still ongoing as they had locked accounts and locked gyen  accounts. they noticed people had purchased at the amount of XXXX where the actual value of the yen is XXXX this let to coinbase shutting doen trading. i purchased more coins as the price had fallen from its XXXX high back to XXXX immediately after it had fallen back down they shut down trading, locked peoples accounts and then began manipulating peoples accounts, which states in the user agreement they will not do as the coins are property of the consumer. i had my account locked for 2 days. i then calculated the total amount of coins in my wallet and noticed that i was XXXX coins short about {$4800.00}. an accounting error. i contacted the company to open a report. what transpired from that was nothing. i contacted again the response was they would look into it. they ended up selling off my remaining shares in other cryptocurrency that i owned, i owned 12-15 other crypto coins they liquidated my portfolio. i felt everything was shady about the whole situation from day one, so i screenshotted every single transaction reciept. i am glad i did that because they later went back and changed every single transaction reciept that i had. this is highly illegal on its own terms. after they had done that i went in and created a tax report that also states the original amount of coins i owned, this is a pdf document from the company that shows every single purchase for the price and amount of coins you own. the pdf shows what i originally purchased. coinbase is illegally going in and changing reciept history as they have either oversold too many coins or are running a scam. when i go to my GYEN wallet it now shows the alterred amount of coins. but i also have screenshots of the original amounts. i have the entire original history with screenshots and timestamps. i also have the modified screenshots with timestamps. so after locking peoples accounts down and readjusting peoples total coins ( stealing property from customers ) they transferred the gyen coins from one wallet to 80 different wallets in equal amounts, as can be seen on XXXX people bought into this coin paying 2-6x what the value of the yen is, then coinbase locked these accounts down stole the coins and readjusted their coin totals to suit coinbase to hide what they did. some people are out XXXX bucks, some are out XXXX dollars with no recourse as the company has not updated anybody of the ongoing situation. 

i firmly believe coinbase knew what they were doing with this scam as it had happened on XXXX  just months earlier and profited heavily off of its userbase, all while claiming they lost money etc. all of the coins can be tracked and traced and where they ended up was back in coinbases wallets where they own 80 percent of the total coins minted from XXXX according to XXXX 

so the accounting error can also be found in my gyen  wallet as the accounting of coins does not add up. as well as total dollar amount

Company response to consumer: Closed with explanation