Consumer complaint received 2025-10-17 00:00:00
Product: Money transfer, virtual currency, or money service — Virtual currency
Issue: Money was not available when promised — 
Company: Coinbase, Inc.
State: CA

Complaint narrative:
I filed XXXX cases already with ConsumerFinance.GOV earlier, the XXXX  XXXX with case ID XXXX on XX/XX/XXXX, the XXXX  XXXX  with case ID XXXX on XX/XX/XXXX. I didn't hear anything back from Coinbase even after both cases have been closed. That's why I am filing the XXXX case again. See below for my original message in the case that is never being addressed by Coinbase. 

Back in XXXX to XXXX of XXXX, I made multiple transfers from my XXXX XXXX accounts to my coinbase account because back then, coinbase was selling me their 4.7 % APY if I park my money to their XXXX virtual currency XXXX account. However, after I made the transfer, my account is frozen in XX/XX/XXXX and received an email from XXXX XXXX coinbase.com and ask me to verify my source of fund. I then submitted all my XXXX XXXX  statements to them to show that every XXXX I transferred to coinbase is from my XXXX  XXXX  account. On XX/XX/XXXX, I got an email from coinbase saying that my account is verified and resumed to normal ( see the email screenshot attached in the prior XXXX cases that I filed ). However, when I log in to the coinbase website, the restriction is still there and I still can't access my money. Since XX/XX/XXXX, I have been contacting coinbase customer support every week ( I have chat logs for record ). And every week, the customer support live agent is telling me that the issue will be resolved, but week after week, it never gets resolved. Besides contacting coinbase customer support, I also send email to XXXX XXXX coinbase.com and ask why my account is still frozen even after account verification is completed with full clearance. I got no response from XXXX XXXX coinbase.com at all. I explained to the coinbase customer support agents that I need my savings back asap as those money that I transferred from my XXXX saving account to coinbase account is my hard-earned savings. The economy is getting tough, and I need those money to put food on the table for my kids. But it appears that no one from coinbase seems to care. CFPB XXXX, please help. I'm not sure if it's a crypto scam conducted by some bad employees inside coinbase to steal all my savings or not. I just want to get my hard-earned money back to my XXXX  account. 

P.S. My hard-earned savings from XXXX has XXXX locked up by Coinbase for a year, and as much as I want to resolve the issue ( I provided all the bank statements to show that the money I transferred to Coinbase is from my XXXX  XXXX  account ), Coinbase is turning a deaf ear in regard to my concerns. Coinbase 's system being hacked in the past further makes me seriously worried if my money and my personal data and identity is compromised. I'm not being over-sensitive here, my concern is real and solid, as I have lost access to my hard-earned savings for a XXXX! I have followed up with the Coinbase customer support in regard to the case ID Coinbase provided in the reply on CFPB, but just like numerous ( more than XXXX times ) prior interactions with the Coinbase support staff, he/she has no information nor update in regard to the case, not to mention any resolution in sight. All I got is the boilerplate answer saying that my access restriction issue will be resolved ASAP. But I've been filing the same support cases again and again for over a year now, I got no resolution nor reply, what exactly is ASAP? CFPB XXXX, I don't mean to bother you again and again, but I do want to get my family 's hard-earned savings back. It is the money for my kids ' daily expenses and college education, and Coinbase is taking it away. Please help.

Company response to consumer: Closed with explanation