Consumer complaint received 2023-11-23 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Problem with a company's investigation into an existing problem — Investigation took more than 30 days
Company: Coinbase, Inc.
State: GA

Complaint narrative:
I was a very large customer of coinbase, as I swing/day trade habitually and I utilized their service for about 6+ years. I have trusted their service with a total USD cycle volume of around XXXX  XXXX ; My cryptocurrency trading volume was well into a XXXX USD ( according to listed market prices ; the true crypto prices would have sent my volume well over a XXXX USD ). 
There were several instances where I had over XXXX  XXXX worth of assets stuck on their platform. MANY situations where every minute counted during extremely volatile market conditions ; as these securities were worth fractions of a XXXX per asset and I was holding XXXX at a time ; as this is my trading style. Time and time again I contacted Coinbase support only to be stuck in a constant loop of automated support bots. Some situations the platform would just say order failed, or connection error. Other times it would randomly ask for me to verify my identity with a physical copy of my drivers license with a handwritten note showing the date. Even after I proved my identity, Coinbase would make me wait until the documents were approved to gain back access to my assets and cash out. Please note that these issues conveniently occurred only during times where I had more than doubled my investment and was attempting to capitalize. This prevented me from managing my positions and funds ; thus they were not complying by our user agreement. However, I still remained profitable, so I stuck around and contacted support as needed and documented issues. 
During a later date, XX/XX/XXXX, Coinbase posted an alert of a trading suspension for the security that I was heavily invested in. This of course not only prevented me from selling and managing my position, but also impacted price action significantly ; as this was an asset that was listed on a limited number of accessible exchanges. The alert noted Tradingwill be suspended on XX/XX/XXXX. Your ability to store, send, and receivewill not be impacted. Note that the ability to store, send, and receive would not be impacted ; however, my ability to purchase, sell, and withdraw my USD was 100 % revoked. 
Upon reviewing the transactions on my bank account from the last deposit from coinbase ( capturing all of the money that I honestly sent coinbase for this trade, and not including those which were associated with previous trades or withdrawals. ) This totaled to about {$7100.00} starting from XX/XX/XXXX - XX/XX/XXXX over 17 transactions. Upon attempting to open a dispute online, I was unable to do so. I called XXXX XXXX dispute center and they stated that they would need to initiate the claim for me. 
Upon answering the questions asked and identifying the 17 transactions, I received a confirmation number for my claim and was notified that if a resolution could not be reached within 10 business days, a provisional credit for the disputed amount would be credited to my account. 
I called XXXX XXXX multiple times following the allotted 10 business days, as I had not received the provisional credit. The updates received were not consistent at all. I was notified that it was closed by one representative, still pending by another, etc.

I eventually received the provisional credit after multiple inquiries. However, on XX/XX/XXXX I received an email that my college credit card limit had been increased to XXXX  XXXX from XXXX  XXXX. 
On XX/XX/XXXX I received an alert that my debit card was declined. Upon checking my bank account balance, XXXX XXXX had overdrafted my checking account {$4000.00}, in addition to maxing out my credit card cash advance to a credit balance of {$4900.00}. This put my total bank account to a negative account balance of around {$9000.00}. 
As I was XXXX at the time and independent, I had to resort to private loans to pay off the checking account negative balance to be able to pay my bills. The cash advance on the credit card had to wait, which lead to additional interest charges as well as cash advance fees. 
Upon calling XXXX XXXX in an attempt to clear things up, after several conversations, I was notified that my claim was denied due to not receiving info requested on my behalf. It was discovered that they had been sending paper mail ( even though I selected paperless updates ) to my parents address. I formally changed my address and updated my contact information BOTH over the phone as well as online. I was told that the second dispute would be reopened and that the forms would be sent to my new updated address. 
The forms were again sent to my parents address. After calling XXXX XXXX again and still receiving XXXX support and valid information, I eventually received an email update on XX/XX/XXXX, stating that my dispute was rejected as it was not submitted within the allotted time period from the debited transaction. The email then states that my claim was opened XX/XX/XXXX to dispute transactions debited FROM XX/XX/XXXX- XX/XX/XXXX. They also stated that after conducting their investigation on XX/XX/XXXX ( 4 months after my initial claim that was neglected ), they found that the transactions were authorized by me on the same date and that a letter was sent to my address on file detailing the decision to decline my request for reimbursement. My address on file had since been updated multiple times, and these forms were still sent to the wrong address. Upon reviewing the forms, the survey questions in the dispute were COMPLETELY wrong. Opposite to those in which I answered. Have you contacted the merchant? I answered YES. Of course I had contacted the merchant. Several times, as this was XXXX XXXX XXXX XXXX XXXX XXXX  The survey documented by the XXXX XXXX representative during the SECOND dispute states that I did not contact the merchant. It also states that I did not return the merchandise, which was false. 
I responded to the email with dated DOCUMENTATION proving that every conclusion made in the fraudulent investigation conducted was false. I requested that this documentation be shared with his supervisor. I reminded him that I had been waiting since May when initially submitting my original claim immediately after realizing my funds had been stolen from me. Their email stated We take our responsibility to safeguard the funds of customers seriously and we take many measures to prevent FRAUD and unauthorized activity My funds were not safeguarded, and were stolen. The transactions were NOT authorized ; as I did not receive the service nor SECURITIES in which I authorized to purchase with my funds. 
On XX/XX/XXXX I received an email notifying me that my XXXX XXXX contact information had been updated, and listed an updated phone number that was NOT mine and which I do NOT recognize. I did not catch this detail until just now after reviewing past documentation. 
I later had major vehicle issues and went to purchase a used vehicle from XXXX XXXX. I had a credit score of XXXX and was given an interest rate quoted at 6.9 % without a cosigner from XXXX XXXX XXXX with a down payment of XXXX  XXXX. This was unacceptably aggressive, however, I am independent and the truck market was limited at the time of need. The situation was a bit sketchy and I never received my spare key. My truck 's odometer then continued to move extremely fast ; as if it was not calibrated correctly. I supposedly drove XXXX miles in roughly 8 months. My odometer now reads a lot slower than before since having the vehicle serviced. 
I noticed my credit score took a significant hit of XXXX points and upon further review, XXXX XXXX had like 6 different lenders run a hard credit check on my account. This is unacceptable ; as I had a credit score of XXXX and a credit card limit THROUGH XXXX XXXX of {$6000.00}. If my credit ran 6 different times, why did I get baited into an interest rate of 6.9 % WITH a {$7000.00} down payment. 
My credit score is now down XXXX points and differs significantly from what XXXX XXXX displays in my bank account. Additionally, multiple issues have occurred with my credit card which is difficult to audit, however, XXXX XXXX often prevents me from disputing transactions online. 
Additionally, my XXXX XXXX brokerage account has been fraudulently swapped for another account with blank trading history with zero record of my securities purchased ; conveniently including XXXX. XXXX has also conveniently deleted all of my trading history and swapped my trading history with a fraudulent account which is not mine. There has been MULTIPLE incidence where XXXX XXXX, Coinbase, and XXXX My privacy has been breached multiple times and my money has been stolen by multiple parties. Documents on both my personal cell phone as well as computer, and other electronic forms of storage have been deleted WITHOUT my permission or me deleting them. This is not only mentally, physically, and financially exhausting, but is also the textbook example of criminal racketeering, under the Organized Crime Control Act of 1970.

Company response to consumer: Closed with explanation