Consumer complaint received 2021-10-16
Company: Coinbase, Inc.
State: CA
Product: Money transfer, virtual currency, or money service
Sub-product: Virtual currency
Issue: Money was not available when promised

Complaint:
XXXX XX/XX/2021, I sold an NFT on XXXX.io after accepting an offer for XXXX WETH ( XXXX XXXX XXXX After selling this NFT XXXX I knew the safest place to transfer the currency was to my Coinbase account where I have a security authenticator. To transfer the currency from my XXXX  wallet to Coinbase, I sent the XXXX to my ETH address in Coinbase after not finding a XXXX address in my portfolio. 
Assuming these currencies were the same as they hold the same exact value and no warning popped up, I sent XXXX WETH into my ETH portfolio in Coinbase. I waited an hour, which turned into two hours, and later turned into 8 hours when the funds still never arrived. 
Looking at XXXX, the transaction was accepted and looked to have no issues ( XXXX  : XXXX ). But the funds never arrived as I write this on XX/XX/2021. 

XXXX XX/XX/2021, I submitted a case with the following response : ** Subject : Case # XXXX - Sent as XXXX and it is not showing up in my account Hello XXXX XXXX XXXX Thank you for contacting Coinbase Support. 
Your Coinbase account includes a wallet for each cryptocurrency we support. Only supported cryptocurrencies can be sent to Coinbase and they must be sent to the correct wallets using the supported blockchains, otherwise that crypto may be lost. 
If you sent unsupported cryptocurrency to Coinbase or sent cryptocurrency to a wallet that isnt specifically for that cryptocurrency, we may soon be able to recover your funds. 
We're developing a service to help recover some of these cryptocurrencies, which should roll out later this year. For information about this service, see our help article XXXX XXXX XXXX XXXXy Before sending crypto to Coinbase, be sure to check if it's supported by visiting our Supported Cryptocurrencies article : https : //help.coinbase.com/en/coinbase/getting-started/crypto-education/supported-cryptocurrencies Thanks, Coinbase Support **Which I responded with : ** I understand that this is an unsupported crypto. What can you do to help me reverse this transaction? 

Thank you, XXXX XXXX received this response from Coinbase support : ** Hi XXXX XXXX Thank you for contacting Coinbase Support. 

Only supported cryptocurrencies can be sent to Coinbase and they must be sent to the correct wallet address through the supported blockchain. It is very important that you check the list of assets supported by Coinbase before sending any asset to a Coinbase account : XXXX XXXX XXXX If youve transferred any unsupported crypto to your Coinbase account, then there is no way to recover these assets. However, if a previously unsupported XXXX asset becomes available on Coinbase, then itll automatically be credited to your Coinbase account. Learn more : XXXX XXXX XXXX XXXX In the meantime, if you need help with anything else, please dont hesitate to reach out. 

Regards, **On XX/XX/2021, I submitted a new claim after the conversation was giving me auto responses for my issue with the same responses : ** Case # XXXX - Sent WETH to my ETH portfolio Hi XXXX XXXX Thank you for contacting Coinbase Support. 

Only supported cryptocurrencies can be sent to Coinbase and they must be sent to the correct wallet address through the supported blockchain. It is very important that you check the list of assets supported by Coinbase before sending any asset to a Coinbase account : XXXX XXXX XXXX If youve transferred any unsupported crypto to your Coinbase account, then there is no way to recover these assets. However, if a previously unsupported XXXX asset becomes available on Coinbase, then itll automatically be credited to your Coinbase account. Learn more : XXXX  : XXXX XXXX In the meantime, if you need help with anything else, please dont hesitate to reach out. 

Regards, **as well as** Hi XXXX, Thank you for your response. We aim to provide relevant solutions to each request, we highly appreciate your patience and guarantee we'll address your concern as quickly as possible. 

If you haven't yet, please read our help article about the crypto recovery service, which should roll out later this year : XXXX XXXX XXXX We'll continually add more unsupported cryptocurrencies to the recovery list, but if the crypto you're wondering about isn't on that list, we can't recover it at this time. 

For the most up-to-date information about our supported cryptocurrencies, please visit the following help article : hXXXX XXXX XXXX Please let us know if there's anything else we can assist you with. 

XXXX XXXX, XXXX  to XX/XX/2021 : ** I have continued to submit cases to assist in returning my funds to my account as it is sitting in Coinbase XXXX here are the cases I have submitted with the exact same responses all ranging between XX/XX/2021 to XX/XX/2021 : Case # XXXX - XXXX  sent to ETH address Case # XXXX - Sent as XXXX and it is not showing up in my account Case # XXXX - XXXX  to my ETH address Case # XXXX - Reverse XXXX transaction to ETH Case # XXXX - Sent XXXX  to my ETH portfolio Case # XXXX - Sent as XXXX and it is not showing up in my account The issue with this is that Coinbase claims they can reverse these transactions in the future, but are not willing to work with individuals to reverse this in the meantime. 
XXXX ETH as I write this on XX/XX/2021 is worth {$32000.00} in USD and is has been placed in Coinbase limbo with no way for the customer to reverse the transaction, access the transaction, or receive any assist with the transaction. XXXX XXXX is one of the most commonly used currencies on XXXX and other marketplaces in order to transfer across multiple platforms, yet Coinbase Exchange has not given individuals a way to access it or assist in returning the funds if accidentally sent to a Coinbase Portfolio.

Company response to consumer: Closed with explanation