Consumer complaint received 2022-02-27
Company: Coinbase, Inc.
State: KS
Product: Money transfer, virtual currency, or money service
Sub-product: Virtual currency
Issue: Other transaction problem

Complaint:
I've been a Coinbase Customer for approx XXXX  mo. Coinbase never had live support. You could use their auto response system but that was worthless. I was told by a friend they were now doing support on XXXX. I stated to him that's a bad move because it opens Coinbase and customers to be hacked. But oh well it's their company and they will eventually have to pay out a lot of money. 

2 maybe 3 times there has been a link on the Coinbase platform for a XXXX sweepstakes. Of course, I'm going to enter. The last time I never received an email for completing the required task of buying or selling {$100.00} worth of crypto. In the meantime, I had downloaded the new Coinbase XXXX and the desk top extension. 

On XXXX XX/XX/2022, I went to their support on XXXX, to which I was a rank novice at using. I never really wanted to use social media, especially for support. I asked 2 questions. Why haven't I received my email for the sweepstakes and why is my Coinbase platform pricing over {$100.00} off from XXXX and Coinbase XXXX. The " support '' person made sure I received the confirmation email and then told me I would need to move my crypto to the Coinbase wallet so my basic platform could be " reset '' it wasn't functioning properly. I did as instructed. 

On XXXX XX/XX/2022, the same " support '' person told me the crypto bot nodes were all locked up and I was required to make a deposit of XXXX XXXX to get the nodes to unlock. After all was said and done, they stole {$3000.00} in crypto from my wallet. Attached a XXXX system and apparently intercepted the confirmation email, because I never authorized it. XXXX days later, my system found XXXX attached to the Coinbase XXXX. The hacker, who in my opinion, works for Coinbase. After reading all of the complaints against Coinbase on the XXXX  site I'm more convinced it's an inside job. 

The hacker gained access to my basic platform and tried to purchase XXXX. {$9200.00} worth to be exact. I notified my XXXX and Coinbase. I had to change ALL of my banking info, all of my passwords and reported this to every agency I could. Coinbase never locked my account after so many failed attempts, they never contacted me to verify it was me. My XXXX never contacted me as they knew I'm a crypto fan. My XXXX refunded me {$460.00} in NSF charges as I was able to provide documentation. 

In the meantime, Coinbase locked up my account, they refused to help me. They told me I was responsible for what the hack tried to purchase. I told them I don't have {$9200.00} just laying around. I was threatened with liquidation to pay for what the hack did. I was forced to let them. I had almost $ XXXX XXXX locked up for interest rewards. And had a little over $ XXXX available that I hadn't staked yet. Coinbase took it all on XXXX XX/XX/2022. I was still short {$180.00}. Coinbase blocked me at every attempt to make the payment. I called them AGAIN and this time I told them what they were doing is actionable in a court of law and I would win, because I was trying to make the payment and Coinbase was refusing to allow me to do so. The next morning, I tried one last time and they must have listened as I was able to make the payment. But yet, my XXXX was never deposited to my account. 

I have called so many times, I have asked to speak with a manager, I have been given the run around, transferred from one support person to the other for hours and then eventually hung up on. I was told since the {$9200.00} I paid for was the result of a hack, I was not entitled to receive it. Yes, you read that right. I was forced to pay for what the hack attempted to purchase, but not allowed to have it. That is wrong on so many levels. Unjust enrichment on Coinbase 's part. 

Coinbase support admitted to me the sweepstakes was a hack to get personal info from those that entered. But yet they never removed it from the platform, nor did they warn customers. Their only excuse for the XXXX issues is it's the customers responsibility to know a hacker from the verified users. So, a brand-new user is to know everything. 

Emailing Coinbase was a bust as well. After XXXX emails they would close the case and refuse to reopen it. So, I would have to start over. I made a {$100.00} purchase of XXXX XXXX to test my account. It was over 3 weeks before Coinbase would let me have access to it. Now I have to wait 8 days before I can have access to my XXXX. 

In my opinion, Coinbase needs to be shut down and have a full-on financial audit. They need to make their customers whole, with interest. Coinbase has been unjustly enriched at the sake of their " minnow '' customers. They make sure to take care of the whales but leave the minnows behind. I have filed complaints with the FBI, FTC, US and KS AG as well as several other places. I think the SEC should take a real hard look at Coinbase as a whole, since they are listed on the XXXX. 

I'm hoping you can help move this along. I just want to get my crypto and move it to my XXXX wallet, which I have since purchased. In the meantime, I'm slowly trying to purchase the other XXXX the hack got out of my wallet. 

Coinbase is touting itself as the most secure crypto platform there is, and it is not. In my opinion that's false advertisement.

Company response to consumer: Closed with explanation