Consumer complaint received 2024-02-17
Product: Money transfer, virtual currency, or money service — Mobile or digital wallet
Issue: Unauthorized transactions or other transaction problem — 
Company: Coinbase, Inc. (CT)

On XX/XX/XXXX, I was robbed of my phone and then became the victim of identity theft when the perpetrator hacked into it and was able to bypass all my XXXX factor security, face ID, any security I had setup. They took over my existing accounts and opened multiple new accounts in my name, banking, credit, debit, etc ... and stole funds amounting to around what I would estimate to be $ XXXX. This was resolved quickly and I was refunded all of the fraudulent transactions by all institutions except Coinbase. 

The perpetrator hacked into my Coinbase Account, bypassing all of their security measures, and applied for a Coinbase Card, which was then funded by USD I had sitting in my account. They made XXXX transactions on my account that I am aware of : {$2500.00} USD at XXXX XXXX  # XXXX on XXXX, XXXX PST {$2500.00} USD at XXXX XXXX  XXXX on XXXX, XXXX PST {$1200.00} USD at XXXX XXXX  # XXXX on XXXX, XXXX PST {$130.00} USD at XXXX XXXX on XXXX, XXXX PST Once I became fully aware of what was happening on XX/XX/XXXX, I put in a case with Coinbase through their system. Initially, I received good support except for the fact that the transactions above occurred in exactly the same fashion by exactly the same perpetrator and were assigned different case investigators that decided on different outcomes. The XXXX XXXX  for {$1200.00} and {$130.00} USD at XXXX XXXX XXXX decided as fraud and charged back to my account, so I received that refund. In a completely contradictory decision the other XXXX cases for {$2500.00} USD at XXXX XXXX  XXXX and {$2500.00} USD at XXXX XXXX  # XXXX were labeled as valid " since a PIN was entered to validate the transaction. '' I tried repeatedly to explain that it does not matter in the slightest that a PIN was entered. This was not my account and not my PIN Code. I knew nothing about it, and I never even had access to it. The perpetrator stole my information to set it up. It is very simple. The reason Coinbase used to decide on my case outcome was simply not a valid reason After this, the Coinbase case investigators, or whoever they outsource it to, just stopped responding. I called every possible number I could find as well emailing their support email and contacting their Legal Department. I finally emailed their Executive Team directly a few weeks ago after looking the information up online as a last resort after chasing an acceptable response and outcome for about a year, and the Exec Team were initially very responsive, but stopped responding after awhile as well without proper explanation of what happened or why the cases were decided that way and of course, no refund/chargeback to my account. It is like they knew they were wrong but still refused to give me my money back. They never gave me a proper or valid explanation and just said, " We tried, but are unable to offer you a refund '' in more or less those words. 
I told them that it was the law and they were required to resolve the case as Fraud appropriately, as it should have been initially, and charge back my account as they did for the first two transactions I mentioned above.

I have sent all of the attached documents including a ID Theft Report with the FTC, Police Report, Demand Letter, Case Documents and Email Trails to Coinbase multiple times demanding resolution. I have called, emailed and contacted them in various methods probably over 100 times now if I look at my collective emails and phone records. I want my money back as these systems that are set up in America are supposed to protect consumers from crime like this. Personally, I think Coinbase 's customer service should be scrutinized by regulators as they are providing financial products like Debit Cards and parading around like they are not a bank and do not act like one ( in fact the Execs said this to me through email ), yet they are the administrator for debit card products in partnership with XXXX XXXX and XXXX. This is straight from their website : " The Coinbase Card is issued by XXXX, XXXX, Member FDIC, pursuant to a license from XXXX XXXX XXXX. The Coinbase Card is powered by XXXX. You may use Coinbase Card to make purchases anywhere XXXX XXXX cards are accepted. '' This would suggest to me that they are in fact acting like a bank and need to insure their card exactly as a bank would and provide the same level of customer support, case resolution and security.