Consumer complaint received 2025-02-25 00:00:00
Product: Money transfer, virtual currency, or money service — Virtual currency
Issue: Fraud or scam — 
Company: Coinbase, Inc.
State: TX

Complaint narrative:
This concern is about money transfers, virtual currency, and money services. This is to report both Coinbase and XXXX, both are cryptocurrency fintech nonbank companies. I believe they both have some responsibilities over this act, whose rules arent adequate to enable perpetrators using them to collect the illegal proceeds. 

All of the involved entities are listed below that I do not know how each of them is or should be liable for this crime to go through successfully. However, Ive listed all of them for this investigation analysis, please also note, I have also tried to contact a lot of them myself with no avail. 
XXXXXXXX XXXX XXXX XXXX believe this is a fake business portraying to be XXXX XXXX after I contacted XXXX XXXX myself on Monday, XX/XX/XXXX. 
Coinbase whose bank is XXXX XXXX XXXX  XXXX whose bank is XXXX XXXX XXXX Bank XXXX XXXX XXXX XXXX XXXX XXXX XXXX ) FDIC Cert # XXXX XXXX XXXX XXXX-FDIC Insured ( Coinbase ) FDIC Cert # XXXX Internet seems to show the few of deposit wallets are somewhat associated with Revolut ( a XXXX based XXXX company ) who refused to continue further unless authority is involved and theyll cooperate. 
XXXX XXXX  internet shows related to XXXX of the wallet addresses ; however, XXXX responded to me that they dont service any digital wallets so Im uncertain if the internet search result linking XXXX and XXXX to the wallet addresses are correct or not. Nevertheless, I have listed this information to share what Ive found. 

Due to character limitation on Step 4 question, I was only able to list 1 company ( Coinbase ) ; however, I believe all of them itemized above are to be investigated to understand the extent of their responsibility together allowed this to go through successfully.

Im severely impacted financially by their malicious act and took total of USD {$490000.00} ( done in 11 separate transactions. See itemized details on attached Transactions tab. ) from me in XX/XX/XXXX. I was first approached by XXXX XXXX XXXX, XXXX @ XXXX for a part time job performing medical product reviews. Followed by XXXX contacts via a series of XXXX messages on how to conduct the work, and what to do to get paid. They assigned me a XXXX work account at XXXX XXXX XXXX From a separate conversation with a forensics company, I was informed this website was only established 7 months ago. 

XXXX contacts who worked with me are trainer XXXX XXXX @ XXXX ), customer service group ( XXXX XXXXXXXX, no individual names displayed ), Senior Manager ( XXXXXXXX XXXX XXXXXXXX XXXXXXXX XXXX ) and XXXX XXXX XXXX XXXX group chat contacts via XXXX. Total about XXXX contacts Ive also itemized on attached Contacts tab. Training began on XX/XX/XXXX, job requirement is to perform XXXX missions of medical product reviews per day ( each containing XXXX medical product reviews ) to earn a full day working pay. Salary is promised to be {$7000.00} per month, paid in incremental amounts after working 1 week of " full day '' as defined above, 2, 3 and 4 weeks.

Each performed medical product review generates random % of bonus and reward which indicates additional payout on top of XXXX base salary. Those generated bonus and rewards could sometimes show up as " negative balances '' on the assigned XXXX work account online. To get paid for that full working day, product reviewers like me need to deposit funds to offset those negative balances in order to receive the earned pay + the fronted offset balance back for that working day. I was then tricked into converting the deposit to various Crypto currencies and they will deposit the balance into my XXXX working account. Due to performing these conversions and thresholds involved, I have also been tricked into opening XXXX XXXX ( non Crypto app ) and other XXXX related apps XXXXXXXX XXXX XXXX XXXX XXXX XXXXXXXX to get paid for my wages and earnings. 

I need help recover my lost USD cash {$490000.00} through this malicious financial crime faking a business to recruit for employment. They laundered scammed money into cryptocurrencies via XXXX  ( XXXX ), XXXX ( XXXX ) and XXXX XXXX XXXX XXXX  cryptocurrencies and did the exchange through XXXX  and Coinbase. Both XXXX  and XXXX  exchanges failed to do proper AML and KYC review in my case, or whoever that is responsible to conduct XXXX XXXX for opening up a nonbank financial account for this, that ultimately enabled XXXX XXXX criminals to exploit out of abiding citizens like me. Please help me with the recovery efforts. Im ready to cooperate with the institutions in catching those criminals behind a large scam network judging by the # of people they sent to trick and make contacts with me from the beginning. 

The deposits requested of me have totaled USD {$490000.00}. Those came in XXXX different amounts and each of those was later tricked into XXXX different crypto wallet deposits as differentiated by XXXX on the attached spreadsheet, Transactions tab. Lastly on XX/XX/XXXX, they asked me to pay for 100 % of my un-collected full balance and was being nice enough to cut me an " advance '' 40 % break to only have to pay another {$400000.00}. This time if I were to pay it, I was assured to get all of my fronted money + earned wages, which already raised high suspicion to me as a prior guarantee was also issued to me yet Im being asked for funds once again. On Monday, XX/XX/XXXX, I found a close enough company name on the internet by the name of XXXX XXXX. I called few times to confirm if it is in fact the same company with whom hired people like me to perform medical product review. Unfortunately, they denied conversations with me and thought I was the perpetrator trying to trick them into a scheme. I have nowhere to go now as Ive no more money but to leverage the authorities who are there to protect us from bad crimes as such. 

Please let me know what I can do to effectively assist with my funds recovery and catching the bad-guys. All of these XXXX  contacts are sending happy messages via XXXX daily and multiple times a day commenting this is the best job ever that they only have to work few hours of product review and earn handsome amount of money. This is so sickening reading their illegal behaviors in words and seeing them showing no remorse and getting the highest paid free lunch everyday. They must go under!!! 

Due to size of the conversation history and screenshots involved, I was only able to provide Contacts and detailed Transactions information I have gathered, but Im ready to surrender those full conversation history with images of the screenshots when a large space can be provided for me to upload next. Let me know what other information youd require to investigate this malicious act next. 

Thank you

Company response to consumer: Closed with explanation