Consumer complaint received 2021-03-30
Company: Coinbase, Inc.
State: OH
Product: Money transfer, virtual currency, or money service
Sub-product: Mobile or digital wallet
Issue: Unauthorized transactions or other transaction problem

Complaint:
Correspondent Name : Mr. XXXX XXXX Create Date : XXXX XXXX Origin : Web File # : XXXX : XXXX : :XXXX  Description : XXXX XXXX is my name on the account. I invested several XXXX dollars to Coinbase and everthing was going fine I had earned up to around {$5500.00} total in my account when unauthorized transactions and until they started taking money out of my account without my permission which I will list below along with the emails. You will see a total of 7 withdrawls which were all unauthorized. Once I complained about them and asked for help they locked my account I could not access it. They were responding to me as well via email then the responses just stopped. I asked for my money back at that point and they have been radio silent since. I have sent several emails which I copied below all the way back from XX/XX/XXXX to both help@coinbase.com and support@coinbase.com XX/XX/XXXX - {$200.00} - {$100.00} - {$200.00} - {$600.00} XX/XX/XXXX - {$100.00} - {$100.00} - {$100.00} Coinbase Support Mon, XX/XX/XXXX, XXXX XXXX  to me Hello XXXX, Thank you for contacting Coinbase and providing us with information regarding your issue. We appreciate your patience while we work through a high volume of support tickets. Before we can restore access to your account, we need you to confirm that you have taken the following security precautions : 1 ) Scan your devices with anti-virus software and ensure that your devices operating systems are up to date. 2 ) Reset your emails password to something that is long, random, and unique to your email account. You should also enable 2-step verification if you have not already done so. Additionally, please check for any unfamiliar rules, filters, forwarding addresses, or recovery emails. 3 ) Reset the password to your Coinbase account here : https : //www.coinbase.com/password_resets/new. Please be sure to create a password that is long, random, and unique to your Coinbase account. Do not reuse the same password across multiple online accounts. ( Please note : password resets can be completed regardless of the account being disabled. This step does not unlock the account automatically. ) 4 ) Contact your mobile service provider to inquire about security measures you can enable on your mobile account to prevent unauthorized changes such as a SIM swap or phone port. For additional guidance on securing your online accounts, please reference this help center article : https : //help.coinbase.com/en/coinbase/privacy-and-security/data-privacy/how-can-i-make-my-account-more-secure.html We will keep your account disabled until you are certain your mobile number, devices, and online accounts are secure. Please reply back to this email when you are ready to restore access to your account. If you no longer have access to your mobile device or original phone number, please let us know so that we can assist you with additional steps for account recovery. Please note that all digital currency transactions are irreversible. Coinbase has no way of reversing transactions confirmed on the blockchain network from your Coinbase account. If you have any additional questions, please include them in your reply. Thank you for your cooperation and understanding. Kind regards, Coinbase Support XXXX XXXX Mon, XX/XX/XXXX, XXXX XXXX  to Coinbase I guess the main question and The problem is is it normal for you guys to withdraw money when the market goes down? -- - XXXX XXXX " The superior man is modest in his speech, but exceeds in his actions. '' -Confucius A man can fail many times, but he isn't a failure until he gives up. Coinbase Support Mon, XX/XX/XXXX, XXXX XXXX  Hello XXXX, Thank you for contacting Coinbase and providing us with information regarding your issue. We appreciate your patience while we work through a high XXXX XXXX Mon, XX/XX/XXXX at XXXX XXXX  Subject : [ Reply ] Case # XXXX - Unauthorized withdrawals around XXXX worth To : XXXX Hello XXXX, Thank you for contacting Coinbase and providing us with information regarding your issue. We appreciate your patience while we work through a high volume of support tickets. Before we can restore access to your account, we need you to confirm that you have taken the following security precautions : 1 ) Scan your devices with anti-virus software and ensure that your devices operating systems are up to date. 2 ) Reset your emails password to something that is long, random, and unique to your email account. You should also enable 2-step verification if you have not already done so. Additionally, please check for any unfamiliar rules, filters, forwarding addresses, or recovery emails. 3 ) Reset the password to your Coinbase account here : https : //www.coinbase.com/password_resets/new. Please be sure to create a password that is long, random, and unique to your Coinbase account. Do not reuse the same password across multiple online accounts. ( Please note : password resets can be completed regardless of the account being disabled. This step does not unlock the account automatically. ) 4 ) Contact your mobile service provider to inquire about security measures you can enable on your mobile account to prevent unauthorized changes such as a SIM swap or phone port. For additional guidance on securing your online accounts, please reference this help center article : https : //help.coinbase.com/en/coinbase/privacy-and-security/data-privacy/how-can-i-make-my-account-more-secure.html We will keep your account disabled until you are certain your mobile number, devices, and online accounts are secure. Please reply back to this email when you are ready to restore access to your account. If you no longer have access to your mobile device or original phone number, please let us know so that we can assist you with additional steps for account recovery. Please note that all digital currency transactions are irreversible. Coinbase has no way of reversing transactions confirmed on the blockchain network from your Coinbase account. If you have any additional questions, please include them in your reply. Thank you for your cooperation and understanding. XXXX XXXX Mon, XX/XX/XXXX, XXXX XXXX  to Coinbase, support@coinbase.com My prior account was compromised I have a new account now with new numbers. Im just sitting here not able to invest. Can somebody please help me get my account updated with my new banking account information so I can get my coin base turned back on because right now it says my account is Disabled? Coinbase Support Thu, XX/XX/XXXX, XXXX XXXX  to me Hello, We need additional information from you before we can resolve this case. If you still require support with this inquiry, please reply to our original email with the needed information. If you are unable to locate our emails in your inbox, please check your spam and trash folders as some email providers automatically filter our automated messages as spam. If you no longer require support, please let us know and we'll close the case. We'll send a follow-up email every five days to check if you still need support with this inquiry. Thanks, Coinbase Support XXXX XXXX Fri, XX/XX/XXXX, XXXX XXXX  to Coinbase Hello we were getting Unauthorized withdraws from our banking account that is linked to coin base about a week ago so we decided to have our bank make A new account so I think were good all I need to do is link my new account to coin base please let me know the next steps? Thx -- - XXXX XXXX " The superior man is modest in his speech, but exceeds in his actions. '' -Confucius A man can fail many times, but he isn't a failure until he gives up. Coinbase Support Fri, XX/XX/XXXX, XXXX XXXX  to me Hi XXXX, Thanks for reaching out. Having investigated the issue, we are 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. Kind regards, Coinbase Support XXXX XXXX Fri, XX/XX/XXXX, XXXX XXXX  to Coinbase Thank you I appreciate your response. I do want to know and make sure and ask why these unauthorized withdraws happened and what are you guys going to do to make sure it doesnt happen again? I was just getting ready to put almost double in my account and now somewhat hesitant to invest much more. Thank you for your attention to this matter XXXX XXXX Sun, XX/XX/XXXX, XXXX XXXX  to Coinbase Can I log back in also I have a new account number how do I add it? Coinbase Support Tue, XX/XX/XXXX, XXXX AM to me Hello XXXX, We received your inquiry, and because you've previously written in about this same issue, we're consolidating your cases into this email thread. We've passed all new information on to an account specialist who is reviewing your case they'll reach out to you here ( review generally takes 4-5 business days ). All future questions about this issue should be directed to this email thread so that our account specialist can better support you. Thanks, XXXX XXXX Tue, XX/XX/XXXX, XXXX AM to Coinbase Awesome thank you for the update XXXX XXXX Mon, XX/XX/XXXX, XXXX XXXX  ( 9 days ago ) to Coinbase Hello any update on this please? Around XXXX just sitting there is nothing I really want to do moving forward please either just give me my money and I will not invest into Coinbase or open up my new account with what I have in there so I can continue please. Please provide an update as it has been 6 days now Thank you XXXX XXXX Mon, XX/XX/XXXX, XXXX XXXX ( 9 days ago ) to Coinbase Please close my account and give back my money ASAP or you will be hearing from my business attorney very soon! XXXX XXXX Fri, XX/XX/XXXX, XXXX XXXX ( 5 days ago ) to Coinbase Hello? How can I access my account? XXXX XXXX Sun, XX/XX/XXXX, XXXX XXXX  ( 3 days ago ) to Coinbase Filing a case with SEC tomorrow BBB and many others if I dont here back from you by EOD tomorrow ref : XXXX, XXXX : ref

Company response to consumer: Closed with monetary relief