Consumer complaint received 2017-09-02
Company: Coinbase, Inc.
State: CA
Product: Money transfer, virtual currency, or money service
Sub-product: Virtual currency
Issue: Other transaction problem

Complaint:
I 've had my Coinbase Account for 4-5 yrs., & never experienced such problems. Internet Reports indicate they 've received more Complaints in XX/XX/XXXXthen since Company 's inception.
1.On Tues.,XX/XX/XXXX logged into my Coinbase Account to retrieve Wallet Address Code, preparing to transfer bitcoins to Coinbase for additional transfer to my Bank Account for end-of-the-month necessary transaction completion.
2.Noticed a Coinbase Message indicating a transaction from XX/XX/XXXX was returned, and payment was required to update my Account. During that time, my then-credit card was hacked, cancelled, and replaced by my bank. Therefore, since I was hurried, I assumed this message was related to a transaction on the cancelled credit card, so I re-submitted the payment, then copied my Wallet Address to receive the incoming bitcoins, as planned. However, research into my Bank Statement indicates that this payment WAS ALREADY RECEIVED by Coinbase.
3.Still, the new transaction from XX/XX/XXXX, including transaction fees, I suppose, Posted to my Account AGAIN onXX/XX/XXXX.
4.The day the payment was made ( XX/XX/XXXX ), I could see the transaction pending on my Bank Account Statement. I assumed that since Coinbase was receiving the requested payment, all was well with my Account.
5.The next day ( Wed. XX/XX/XXXX ), I transferred Bitcoins into my Coinbase Account, intending to withdraw them to my Bank Account. However, my Account was still Block. The Page requesting payment for the returned item keeps repeatedly blocking me from proceeding with any transitions.6.I emailed : XXXX ( as suggested on the Website ), only to receive the message, below : RESPONSE : Thank you for contacting Coinbase. In an effort to more quickly respond to requests, directly emailing XXXX is no longer enabled.To get a response from our support team, please visit the following page and complete the request form : XXXX XXXX XXXX Please use the email address that you use to log in to Coinbase, select the appropriate category, and include as much detail as possible when submitting your request.
Thanks in advance for your patience and support.
This message was sent to XXXX in reference to Case # XXXX XXXX.I followed the instructions, submitting two-to-three Support tickets over the next 24-hours, anxious for a response so that I can sell bitcoins, then transfer needed monies into my Bank Account. I received no response from Coinbase.
8. I attemted emailing, again, and received this response : Type your response ABOVE THIS LINE to replyRe XXXX XXXX  Coinbase | XX/XX/XXXXXX/XX/XXXX PDT Thank you for submitting your request. Due to increased volume it may take several days to receive a response. If you suspect that your Coinbase account has been compromised, please submit a request and select the Hacked account category. Check out the following support articles to get your issue resolved more quickly. Account access and verification : Phone, XXXX Authenticator, or Authy issues Tips to complete photo ID verification I want to change my country or state Raise my account limits Buying and selling : Verifying a credit or debit card How do I withdraw money to my bank account? How long does a buy take? Digital currencies : Pending digital currency transactions.Where is my wallet address?
9. On Thursday, XX/XX/XXXX, after not hearing from Coinbase, nearing the close of day, I began searching on the Website and Internet for a Coinbase Contact Phone number. I came across two phone numbers that had been Posted in the last 6-hours ( XXXX, and XXXX ), and called them both. A woman answered the 2nd number, and after asking me what I thought were odd questions, like how much Bitcoin was in my Account -- - AFTER, Id given her the email associated with my Account, so she should have known the answer to this question -- - she transferred me to a man, whom she claimed was her Manager. After giving him the same explanation as the woman, he informed me that in order to access my existing bitcoin, I would need to transfer {$1000.00} into the Account. I hung up on him, and continued searching for a Coinbase Contact phone.
10. Desperate for help, I called back the man again, since it keep insisting that he was a Coinbase Representative. This time, he acted like he had never spoken with me, and questioned who might have instructed me to deposit {$1000.00} into my Account? He asked me the persons name, and I replied that I did not write it down, but asked for HIS name. Although both HE, & the woman who answered the phone sounded either XXXX XXXX, or XXXX ( & I could hear another voice, presumably on the phone, talking in the background, also XXXX sounding ), the man told me that his name was XXXX XXXX. This time, he assured me that my Account was CLEAR on his end, but in order to determine why I was receiving the Error message, he would need to electronically gain access to my computer, and thereby access my Account. Again, I hung up on him, indicating that he was a scam, probably a hacker, and that no way was his name XXXX XXXX, since he sounded XXXX, not XXXX! I also informed that I was going to report his name and number to Coinbase.
11. I then found what I think is an actual Coinbase Fraud Phone Number ( XXXX ), and called it, indicating that I believed the fraudulent parties I just described might have hacked my Account. I left a message after the Coinbase out-going message indicating that Coinbase takes Fraud very seriously, and would contact me within 4-hours of message receipt M-F, XXXX
12. The first call was made around XXXX XXXX on Thurs.,XX/XX/XXXXand so I expected to hear back from Coinbase on Friday,XX/XX/XXXX per their outgoing message.
13. By Friday morning, after not being contacted, I called the number again, leaving an additional message. I repeated this process 3-4 times. No response was ever received. During this process, I also submitted at least one ( if not more ) additional Support tickets from the Website, and attempted Live Chat. No response was received.
14. By now, my Bank Account -- - where the funds were intended to be transferred -- - has gone into over-draft, and it is the XXXX XXXX weekend, therefore, the next business day will not transpire until Tuesday, XX/XX/XXXX and so I am desperately trying to contact Coinbase to determine the issues with my Account.
15. Also, during this time, I am searching the Internet, and feel regret in the pit of my stomach when I read that Coinbase has received MORE COMPLAINTS in XX/XX/XXXXthan since its inception. I feel RELIEVED that I am not just being targeted for punishment, however, this does not make me feel good, that Customers are not being treated professionally.
16. I really want and need my bitcoins. Whether or not I continue my Coinbase Account is another story, but if Customers can not depend on prompt communication when issues arise, then the business can not be trusted.
17. Below is the continual Error Message that I am receiving, Blocking me from conducting ANY transactions, including withdrawing my money to my Bank, or sending the Bitcoins to another outside Wallet. When I click the link, it takes me in a loop, continually requesting the {$0.00} payment, since the amount initially requested has already been completed, according to my Bank Records,XX/XX/XXXX.
Issue with XXXX XXXX We could n't complete one of your buys due to an issue with your payment method. Please select a payment method to continue.
COMPLETE YOUR BUYS Amount {$0.00} Payment method XXXX XXXX XXXX Make Payment AFFECTED PURCHASES Please contact XXXX if you have questions or require additional help.
Currently, Coinbase does not have enough resources to catch up to complaints/issues, everything is robotic and automated. U ca n't reach out to a live support line when needful, & Company keeps accounts disabled for security reasons, but damages clients ' well- being! Lack of adequate support resources is destroying Coinbase 's public image. used to highly respect the Company for its innovation and powerful technology in digital currencies, but recently lost my trust.

Company response to consumer: Closed with explanation