Consumer complaint received 2018-06-10
Company: Coinbase, Inc.
State: VT
Product: Money transfer, virtual currency, or money service
Sub-product: Mobile or digital wallet
Issue: Managing, opening, or closing your mobile wallet account

Complaint:
Dear Sir / Madam, I have an account with coinbase to which I have been using for trading but has been restricted, so say coinbase, because I needed to verify my identity. I have since done that on the XX/XX/XXXX and made countless replies to the support ticketing system, to which I am consistently getting a somewhat generic response to wait until a specialist looks at my account. This problem has been going on since XX/XX/XXXX! After uploading the initial documentation recently, I have had a reply, stating : ( by XXXX XX/XX/XXXX XXXX Thank you for writing back. I understand that you have waited for quite some time now and you want your account restriction lifted. Please allow me to explain further. I made a clear review and your concern has been properly forwarded. Sometimes the time-frame given can take longer depending on the volume of cases. I can assure you that your case will be looked into and will be addressed by our specialists. Thank you for your utmost patience. Your understanding on this matter is highly appreciated. I then repeatedly advised XXXX that coinbase have no right to restrict access to my wallets. I stated that all I want to do is withdraw my coins from the coinbase run wallets so that I can store the coins in my own hardware wallet. I have also noted to coinbase that before the intention to restrict my account, I have never been given an opportunity to withdraw my coins from coinbase wallet and close the account. Instead coinbase have restricted the ability to send/withdraw coin. I have repeatedly stated to coinbase that I need access to my coin because I am a full time trader, I trade crypto markets for a living, and because they have restricted access to my coin, they are causing me great emotional distress and financial hardship, as well as it being illegal to withhold my coin. I have successfully uploaded all identification documents and a selfie, received the appropriate emails from coinbase to confirm this, I have done nothing wrong, yet my wallets are still restricted and I am unable to withdraw my coins. The answer from coinbase is always, please wait whilst a specialist checks the account. by XXXX XX/XX/XXXX XXXX Hi, XXXX XXXX Thank you for writing back and thank you for completing the identity verification. Let me ensure that this gets addressed as soon as possible. I am working with a specialist to continue resolving this issue for you. We will follow-up with you as soon as we have an update. I do not understand why coinbase have restricted access to my coin wallets, nor should they be allowed to do so. I have repeatedly asked them to fix this issue, but the generic reply is always given which is to wait and wait and wait. I do not wish to do business with coinbase any longer, I just want to withdraw my coins to my own hardware wallet and then subsequently close my account with coinbase as I have been treated very badly and no longer wish to pursue any future business with them.There is a significant amount of coins in my account, that coinbase are withholding from me, preventing me from withdrawing my coin to my own hardware wallet. The coin details are attached.

Company response to consumer: Closed with explanation