Consumer complaint received 2018-01-06
Company: Coinbase, Inc.
State: OH
Product: Money transfer, virtual currency, or money service
Sub-product: Virtual currency
Issue: Other transaction problem

Complaint:
I own three types of cryptocurrency ( Bitcoin, Litecoin, and Ethereum ) and manage them using Coinbase. For each currency I have a wallet and a vault on Coinbase. The wallet allows me to  send/receive and buy/sell currencies. The vault allows me to store my currencies more safely. On XXXX XXXX, XXXX I made transfers of all three of my currencies from my vaults to my wallets. The transfer from the vault has a 48 hour waiting period and requires the approval from two separate email addresses for security. The Bitcoin and Litecoin transfer went smoothly. When I initiated the Ethereum transfer, I did not receive an email to either address. I was also not able to cancel the transfer and attempt to start a new one. I was attempting to transfer XXXX ETH ( {$1300.00}, but worth more now ).

I contacted Coinbase through their online support site immediately at XXXX and XXXX XXXX the same day. After no response, I contacted them again on XXXX/XXXX/XXXX. I have also attempted to reach them by phone multiple times since the XXXX, but have never gotten through ; sometimes waiting on holds for hours. On XXXX/XXXX/XXXX I received a generic response from XXXX outlining Coinbase 's policy on priority support cases. I replied the following day restating my claim and stating that mine was a priority case according to their policy. I never got a response from XXXX. On XXXX/XXXX/XXXX I received a response from XXXX explaining what a Vault is and directing me towards their FAQ page ( which I had read and re-read thoroughly ). It was evident that either XXXX had not read my original case, or it was a automatic response. I responded to XXXX to following day again restating my original claim. I have not heard from XXXX since. Here is the complete line of communication with Coinbase that I have just described : XXXX XXXX XXXX XXXX, XXXX XXXX I transferred from all 3 of my vaults to wallets. The BTC and LTC transfers were approved and say they are waiting the 48 hour period. However, now my accounts do n't show that currency in either my vaults or my wallets. Is that normal? Also when transferring from my ETH vault to my ETH wallet, the website crashed and now it says that the ETH transfer is " Waiting on a Signature '', the currency also does n't show in either the wallet or vault. What does that mean? I know you 're busy right now, thanks for your help. 


XXXX XXXX XXXX XXXX, XXXX XXXX I attempted to transfer from my ETH vault to my ETH wallet but the Coinbase website crashed in the middle. Now the current does n't show in either account, and the transfer says in it " Waiting for Signature '' but also wo n't let me cancel the transfer. I never received any approval email. 


XXXX XXXX XXXX XXXX, XXXX XXXX Ok so it 's been 48 hours and my LTC and BTC transfers are  complete and the funds are in my wallet, but the ETH transfer in still in limbo " Waiting for Signature ''. Please help, I would like to access my ETH funds. 


XXXX XXXX XXXX, XXXX XXXX Thank you for contacting Coinbase support. Coinbase has experienced unprecedented levels of website traffic resulting in increased support wait times. The purpose of this notice is to explain how we are prioritizing our responses. 


Our first priority will be resolving trust and safety issues and payment issues. These specifically include : Account lockouts ( password resets, 2-factor authentication, device verification, lost access to email address ) Delayed payments or orders If your issue is one of these priority issues : : Review our Support Center content : https : //support.coinbase.com/ If you are still unable to resolve your issue, reply to this message with as much detail as possible Our next priority will be the issues listed below. You can find solutions to these issues in our Support Center : https : //support.coinbase.com/. Please carefully review the solutions presented in the Support Center as this will be quickest way to resolve your issue. 


These issues include : New account registration and setup Limit increase requests ID verification not related to lockouts, etc. 

Bypassing 24-hour lock-out windows Buy and Sell restrictions Country changes Linking new cards Order cancellations Bypassing transaction times Referral bonus inquiries Digital currency transactions external to Coinbase General questions about Coinbase and digital currencies You can always monitor the status of Coinbase here : https : //status.coinbase.com/ Coinbase is committed to providing excellent customer support and the highest quality customer experience. Thank you for joining us as a customer and partner in our mission of creating an open financial system for the world. We appreciate your patience as we grow with the digital currency community XXXX XXXX XXXX XXXX, XXXX XXXX On XXXX/XXXX/XXXX I transferred XXXX ETH from my ETH Vault to my ETH wallet. The amount still has not been transferred and it will not allow me to cancel the transaction and try again. When I look at the details of the transaction it says " Waiting for Signature ''. I need to be able to access those funds. Thanks. 

XXXX XXXX XXXX XXXX XXXX, XXXX XXXX Hello XXXX, Thank you for contacting Coinbase! 


Sorry for the trouble and for the delay on responding. 
Vault withdrawals require approval from both the primary account email address, as well as the secondary vault email address. When a vault withdrawal is created, we email both accounts with approval links. Both of these links need to be opened for the withdrawal to proceed into the 48 hour waiting period prior to completion.

If you are having trouble finding both emails, I recommend cancelling your current pending withdrawal and starting a new one. This will generate a fresh set of approval emails. 


Please keep in mind, if you see the message You have already performed this action. You will want to logout of your primary Coinbase account prior to clicking the verification link.

For more information on our Vault, please refer to the following link : https : //support.coinbase.com/XXXX Please let me know if you have any questions. Thank you for choosing Coinbase! 


You can always visit our self help tool found at https : //www.support.coinbase.com for more issue resolution steps. 

If you require further assistance, please let me know. 


Thanks, XXXX Coinbase Support XXXX XXXX XXXX XXXX, XXXX XXXX XXXX , Thank you for the response, but it does not address the problem I am having. I am unable to cancel the transaction and start a new one. That option is not given to me. Also, I have never received either confirmation email regarding the transfer. My ETH is still stuck and inaccesible to me. How can I either cancel the transaction and restart the approvals? 
-XXXX

Company response to consumer: Closed with explanation