Consumer complaint received 2017-12-28 00:00:00
Product: Money transfer, virtual currency, or money service — Virtual currency
Issue: Other transaction problem — 
Company: Coinbase, Inc.
State: WA

Complaint narrative:
1 Identifying Information -Coinbase account established under name XXXX XXXX for web security reasons. 
-Actual name of owner is XXXX XXXX XXXX . 
-Coinbase account number unavailable because of inability to log in to my account. 
-Owners email : XXXX 
-Original username used to set up account is same as email ; XXXX -Willing to share password to company if needed -Account number of XXXX XXXX account ( now closed ) used to originally purchase bitcoins is # XXXX -Bank statement with proof of purchase is available on request -Account number of XXXX XXXX XXXX XXXX ( XXXX ) account which is current checking account is # XXXX and general account number is # XXXX -Both accounts ( XXXX XXXX and XXXX ) are under the name, XXXX XXXX XXXX and XXXX XXXX account is linked with XXXX XXXX XXXX. 
-Bitcoins were originally purchased on XX/XX/XXXX for {$10.00} and XX/XX/XXXX for {$34.00}. Amounts totaled approximately XXXX bitcoins. 

2 - Complaint I purchased XXXX bitcoins using Coinbase on XX/XX/XXXX and XX/XX/XXXX. During XX/XX/XXXX I closed my checking account at XXXX XXXX that I had been using for Coinbase which I used to originally purchase my XXXX bitcoins. I opened a new checking account at XXXX XXXX XXXX XXXX ( XXXX ) and was attempting to verify my bank account on the app, I requested numerous times ( 10-15 times ) to have verification charges sent to me, and the one time that the two verification charges were sent, I input them in the correct places on the app and was told that the amounts did not match their records. Each time that I tried to have the verification charges sent to my bank account, I have checked over and over in my checking and savings accounts and they were never there. At some point, I was checking my bank account and noticed that two charges from Coinbase, one for {$0.00} and one for {$0.00} were on my checking account. I immediately went to the Coinbase app and attempted to input the charges into the two designated spaces. I was then told that the charges that I had entered did not match their records. I suspect this may have been because one of the attempts I made to have the charges sent, they actually went through and I may have not noticed this and made another attempt which reset the previous charges so that Coinbase was expecting the charges from my most recent attempt, not the charges that actually went through. My Coinbase account was originally set up under the name XXXX XXXX for web security reasons. I was concerned that there might be difficulty linking my new bank account to my Coinbase account for this reason. During my attempt to update my personal information ( Name and address ) I was logged out of my account and when I tried to log back in, I received the message, " Your account has been locked. Please visit Coinbase.com to resolve ''. I visited Coinbase.com but I was directed to their general support page which did not have any links or answers to resolve my problem. I later tried to log back into my Coinbase account a few times and each time I would get the same message linking me to the support page. Later on, I received an email from Coinbase titled, " Notice of Account Closure ''. This email informed me that suspicious activity had been detected on my account and it was under their policy to close my account. They also informed me that I when I log into my Coinbase account I will be given instructions on how to have my funds sent to either another service or to my bank account. This is impossible though, because I am unable to access my account. I then tried to use the bot service on the Coinbase support page and tried calling, unsuccessfully spending three hours on hold with the company over four different phone calls to Coinbase and was never answered. Using the bot service, I received two response emails but neither of them addressed my request and appeared to be form letters.

3 Resolution needed 1 ) Allow updating of name and address on website 2 ) Verify new XXXX account without errors and with communication during process to ensure it works 3 ) Funds sent to bank.

4 ) I want the funds reimbursed to me at the value of Bitcoin on the date that my account was closed. It is through no fault of my own that this amount of time has passed waiting for my account to be credited since it was closed by Coinbase for vague reasons ( violations of policy ) which were not explained to me nor was I able to contact customer service and receive an explanation. The price of Bitcoin has declined since I first began this process of requesting my funds be sent to my bank account. The price of bitcoin on XX/XX/XXXX,  the day my account was closed by Coinbase, was approximately {$16000.00}. The price of Bitcoin currently, as you know, has dropped and is approximately {$14000.00} at the time I am writing this.

Company response to consumer: Closed with explanation