Consumer complaint received 2021-09-05
Product: Money transfer, virtual currency, or money service — Virtual currency
Issue: Fraud or scam — 
Company: Coinbase, Inc. (GA)

On XXXX XXXX, 2021 I met a person online ( via XXXX ) who gave his name as XXXX XXXX ( XXXX name ), who claimed to work at XXXX XXXX ( ) in New York. We started chatting on XXXX and he seemed to be a friendly person. We chatted about XXXX politics among other things, and how XXXX stocks were trending in recent weeks. 
After a couple of days Mr. XXXX suggested we chat via XXXX instead of XXXX, and he provided the number XXXX first, then changed to XXXX. Since we are both XXXX and appareently have both left XXXX left a long time ago and missing home, we therefore had a lot to talk about, including cooking. I told him that I'm ready to retire. 
He started suggesting how to better manage my money, specifically trading in digital currency. I told him that I'm too old to play Bitcoin, Ethereum, etc. and they sound risky.

He suggest trying some currency trades using ETH currency and continue to persuade me now the digital currency is a very good bet and hard to lose. He even claimed it was a lifetime opportunity. I decided to use {$15000.00} on XX/XX/2021 to try. He sent me two links ( below ) to load the required apps and showed me how to open accounts at following sites : 1. https : //Coinbase.com - Coinbase 2. XXXX XXXX XXXXXXXXXXXX XXXX XXXX - XXXX XXXX XXXX guided me on how to wire transfer money from my bank to my new Coinbase account and then to my new XXXX account. He also showed me how to withdraw money ( we tried {$1700.00} ) from XXXX back to my Coinbase account. Everything seemed very resonable and went smoothly. 
Meanwhile, he continued to try persuading me to sell all my stocks to have > $ XXXX to increase the profitability. Finally he strongly urged me ( texting more often ) to rollover my 401K to an IRA and borrow on it for 60 days to increase the available capital, then have an even better chance of profitability. 
I have transferred total of {>= $1,000,000} from my bank account to my Coinbase account and then to my XXXX account. 
I spoke to my husband & he felt supicious, suggesting this is a scam and asking me to get money back ASAP. But at this pint, XXXX was not allow me to do so. I submitted a request to Coinbase Support as follows with case # XXXX : " A friend ( phone # XXXX and XXXX, His name is XXXX XXXX ) was guided me to create two account 1 ) a Coinbase account and 2 ) a XXXX ( XXXX  XXXX XXXX ) Global Digital Currency Exchange account. 
The purpose is using XXXX account to do some currency trade and make money and sand back to Coinbase account to buy BTC and EHT. As I understand Coinbase is US official company and only connected with official Bank and exchange company by U.S Federal law. But now, I seems have problem to get money back from XXXX and need help from Coinbase. All transition from Coinbase on my account record. Please proved your gainacancy. 
Also, please confirm that XXXX is legit company. 
Thanks! 
XXXX XXXX '' -- -- -- -- -- -- -- Coinbase reply as follows and without answer my question about Bitchem : " Hello XXXX, Thank you for contacting Coinbase Support. 
We advise you to cease all communication with these parties and report the incident to your local authorities. 
All cryptocurrency transactions that are completed on the blockchain are irreversible. Because this is an external process, there is no way for Coinbase to cancel, reverse, or recover crypto sent off our platform. 
To regain access to your account, please complete the following identity-verification steps to reset you account ''. 

I reply Coinbase back with following questions, but with no answers : " Attn. : Coinbase Support ( Case # XXXX ) : Dear Sir/Madam, Appreciate if you could please help me with following three questions : 1. " All cryptocurrency transactions that are completed on the blockchain are irreversible '' - It seems like this potentially helps criminals to steal money. Is this allowed by U.S. federal law? As I understand, Coinbase is a US-based company and connected only with official banks and exchange companies.

2. My money was sent to XXXX ( XXXX XXXX XXXX - XXXX XXXX XXXX XXXX account ). 
Appreciate if you could please confirm that XXXX is in fact a legitimate enterprise, since Coinbase has more information than a private individual such as myself.

3. Appreciate if you could please provide me some information for how to report a suspected scam and try to get my money back. "