Consumer complaint received 2021-07-15
Company: Coinbase, Inc.
State: FL
Product: Money transfer, virtual currency, or money service
Sub-product: Mobile or digital wallet
Issue: Managing, opening, or closing your mobile wallet account

Complaint:
CASE # XXXX I get an email stating my account My photo ID has been verified and then another email rite after stating my account is closed! I have been with them for over 4+ Years now, and never had an issue like this. I also looks like whatever has caused this caused another account thru XXXX XXXX to close as well. Can you please have them reopen my accunt and not have my account closed. I can not access Coinbase Pro which has over XXXX worth of my money I cant access and Coinbase Support is not getting back with me. This is an extremely volatile market and for them to lock me out of my account without accessing my Coinbase Pro account which is where my money is at is UNACCEPTABLE and it looks like others are having this same issue as well. Please help. I can not login to my Coinbase Pro which just keeps putting me back to my Coinbase which shows to withdraw only my Coinbase funds not the Pro funds, which is where the bulk of my money is at. 

In the same day, I got another email from Coinbase THE EMAIL STATES : Hello, Thank you for your interest in Coinbase. Our primary goal is to make digital currency safe and secure for our customers. Coinbase is a regulated Money Services Business under XXXX XXXX XXXX XXXX, and as part of achieving this goal, we are legally obligated to implement regulatory compliance mechanisms. 

Upon careful review, we believe your account has engaged in prohibited use in violation of our Terms of Service and we regret to inform you that we can no longer provide you with access to our service. We respectfully request that you follow the on-screen instructions presented when you sign in to your Coinbase account to send any remaining balance offsite to an external address.

If you are currently enrolled in USD Coin rewards, you may want to wait up to 40 days before withdrawing funds to ensure you have received all eligible reward payouts. You will not be able to access these funds after account closure. 

Should you have any questions or need assistance, please let us know and we'll be happy to help. 


Respectfully, Coinbase Customer Support 2nd EMAIL : XXXX XXXX, Thank you for your interest in Coinbase. 

Our primary goal is to make our platform safe and secure for our customers. Coinbase is a regulated Money Services Business under XXXX XXXX XXXX XXXX, and as part of our responsibility, we are legally obligated to implement regulatory compliance mechanisms.

We regret to inform you that we are no longer able to support your Coinbase account as well as any other accounts you may have created. Please note, we have not blocked access to the balance currently in your Coinbase account ; while we can no longer process brokerage orders via our banking relationship, you may still send your balance offsite to an external address.

There are a variety of factors which have been weighed in your case, and for security reasons we are unable to elaborate on our internal decision process. Please know that we do not make these decisions lightly, and do regret losing you as a customer.

We wish you all the best in your future endeavours.

Regards,

Company response to consumer: Closed with explanation