Consumer complaint received 2025-01-09 00:00:00
Product: Money transfer, virtual currency, or money service — Mobile or digital wallet
Issue: Unauthorized transactions or other transaction problem — 
Company: Coinbase, Inc.
State: TN

Complaint narrative:
On XXXX Coinbase violated our User Agreement and Terms of Service as well as Regulation E, KYC, the Bank Secrecy Act, and Title III of the Patriot Act by allowing a XXXX XXXX bank account, which is not in my name, to be added to my Coinbase account, and then on the same day, allowed unauthorized transactions of {$51000.00} USD to be withdrawn from my Coinbase account and transferred to the checking account at XXXX XXXX. 

My accounts, passwords, 2-step verification codes, and networks are secure. I do not use unsecured networks or public computers. I adhere to all the terms of the Coinbase User Agreement. 

Total Loss : {$51000.00} USD ( Unauthorized Withdrawals : {$51000.00} USD + Fees for Unauthorized Transactions : {$980.00} USD ) Coinbase is in explicit violation of my User Agreement, their Terms and Conditions, and has violated my consumer rights. 

Coinbase did not notify me of any suspicious activity, or that a bank account that is not in my name was added to my account, which violates the terms and agreements. 

Coinbase should have notified XXXX immediately about the fraudulent activity. They did not. They still have not. 

Coinbase has not issued a Hold Harmless Agreement letter to the receiving bank, XXXX XXXX, to reclaim the funds. 

Coinbase has not issued provisional credit to my account while they conduct the investigation. 

Coinbase will not give me the full checking account number of the XXXX XXXX account that was added to my Coinbase account. FBI and XXXX and Police cant issue a XXXX to freeze the money or investigate without it. Coinbase is impeding the investigation. 

Coinbase will not give me the exact date and time stamps ( with timezone ) of when the IP addresses that were used to access my account were used to interact with the XXXX account, which has been requested by the FBI, which is impeding and obstructing the investigation. 

As of XXXX, Coinbase is no longer answering my phone calls. Until today, my call would be answered by a customer service representative. Now my calls only go into an automated system and there is no option to connect to a representative, even when selecting the security and fraud options. 

Coinbase continues to be unhelpful, and is repeatedly sending me copy / paste, stock responses stating that they are not responsible. 

On XXXX I was on with them for an hour and a half to try to regain access to my account. At the end of the call, before the issue was resolved, they hung up on me. I was being courteous, gracious, patient, and appreciative. 


Coinbases Terms State The Following For your security, the name on your payment method must match the name on your Coinbase account. Mismatched names will be reviewed manually in XXXX to XXXX business days. ( XXXX XXXX XXXX ) The Following is from the Coinbase User Agreement : ( XXXX XXXX XXXX ) 3. Payment Services, Purchase & Sale Transactions, and Credit Transactions 3.1. USD Funds. You can load funds into your USD Wallet from a valid bank account via ACH transfer or wire transfer. Your USD balance is in a pending state and will not be credited to your USD Wallet until after the bank transfer has cleared, usually within five ( 5 ) business days. We may debit your linked bank account as soon as you initiate payment. The name on your linked bank account and your wire transfer must match the name verified on your Coinbase Account. 3.9. Reversals & Cancellations. You can not cancel, reverse, or change any transaction marked as complete or pending. If your payment is not successful, if your payment method has insufficient funds, or if you reverse a payment made from funds in your bank account, you authorize Coinbase, in its sole discretion, either to cancel the transaction or to debit your other payment methods, including your USD Wallet or Digital Asset Wallet balances or other linked accounts, in any amount necessary to complete the transaction. You are responsible for maintaining an adequate balance and/or sufficient credit limits in order to avoid overdraft, non-sufficient funds ( NSF ), or similar fees charged by your payment provider. We reserve the right to refuse to process, or to cancel, correct, clawback, or reverse, any Digital Asset Transaction or Transfers in our sole discretion, even after funds have been debited from your account ( s ), in response to a subpoena, court order, or other government order ; or if we suspect the transaction may : involve money laundering, terrorist financing, fraud, or any other type of financial crime ; be erroneous ; or relate to a Prohibited Use or a Prohibited Business as set forth in the Prohibited Use Policy. In such instances, Coinbase will reverse the transaction and we are under no obligation to reinstate a purchase or sale order at the same price or on the same terms as the canceled transaction.

I followed the procedure described by the Coinbase User Agreement in Section 7. Customer Feedback, Queries, Complaints, and Dispute Resolution and APPENDIX 5 : ARBITRATION AGREEMENT, by trying to resolve my complaint with Coinbase Customer Service. When resolution wasnt met, I followed the same procedure by filing a Formal Complain with Coinbase. I followed the procedure described by Coinbases User Agreement, APPENDIX 3 : State License Disclosures and filed a complaint with the New York Department of Financial Services. 

I have the following Coinbase Case Numbers : XXXX ( email from XXXX, Consumer Complaint Supervisor re : Formal Complaint. XXXX ) XXXX ( email from XXXX with the Coinbase Executive Escalation team. XXXX ) XXXX ( email from Coinbase Support. XXXX ) Re : Locking the account. Escalated. Saying its now being handled by the account specialists. For the unauthorized transaction. ( Most recent ) ( theyre saying on XXXX that this is the main / only one now, but I should keep the others for my records ) XXXX ( email from Coinbase Support. XXXX ) Re : Locking the account. ( but the mother number is this one ) ( this one is now closed, as of XXXX ) XXXX ( email from Coinbase Support. XXXX ) ( this one is now closed - as of XXXX at XXXX ) XXXX ( email from Coinbase XXXX. XXXX ). Re : Regaining access. XXXX The following reports have been filed : Coinbase Formal Complaint Case Number XXXX Date Filed : XXXX FBI - IC3 Complaint IC3 Complaint Submission ID : XXXX Date Filed : XX/XX/XXXX XXXXXXXX XXXX EST Federal Trade Commission - Identity Theft Report FTC Identity Theft Report Number : XXXX Called them on XXXX at XXXX XXXX XXXX Police Called on XXXX at XXXX Police report Number : XXXX Filed on XXXX at about XXXX Detective XXXX XXXX : XXXX Fraud Alert - 7-year Extended I froze my credit report at XXXX on XXXX at about XXXX Filed XXXX, XXXX and XXXX Tennessee Department of Financial Institutions Consumer Complaint XXXX XXXX XXXX XXXX New York State Department of Financial Services Consumer Complaint Case : XXXX XXXX Submitted : XX/XX/XXXX Office of the Comptroller of the Currency Report Number : ( waiting for this as of XXXX. The confirmation page said it will be coming by email. ) Date Submitted : XX/XX/XXXX Timeline of Fraudulent Transactions Below is the order of events. All of these were fraudulent and were not authorized : XXXX. Sold XXXX XXXX ( XXXX ) for {$47000.00} USD. ( Price at transaction : {$100000.00} ). Date and Time : XXXX XXXX UTC XXXX. Withdrawal : {$9000.00} USD from Coinbase to XXXX  - XXXX  Checking. Date and Time : XXXX XXXX UTC XXXX. Withdrawal : {$9000.00} USD from Coinbase to XXXX  - XXXX  Checking. Date and Time : XXXX XXXX UTC XXXX. Withdrawal : {$8000.00} USD from Coinbase to XXXX  - XXXX Checking. Date and Time : XXXX XXXX UTC XXXX. Withdrawal : {$8000.00} USD from Coinbase to XXXX  - XXXX  Checking. Date and Time : XXXX XXXX UTC XXXX. Withdrawal : {$7500.00} USD from Coinbase to XXXX  - XXXX  Checking. Date and Time : XXXX XXXX UTC XXXX. Converted XXXX  ( XXXX ) into XXXX Sent XXXX XXXX  ( XXXX ). Total : {$4000.00}. ( Price at transaction : {$3900.00} ). Date and Time : XXXX XXXX XXXX Received XXXX CBETHs. Total : {$4000.00}. ( Price at transaction : {$4200.00} ) XXXX. Sold XXXX XXXX for {$3900.00} USD. ( Price at transaction : {$4200.00} ) XXXX. Withdrawal : {$9500.00} USD from Coinbase to XXXX  - XXXX  Checking. Date and Time : XXXX XXXX UTC XXXX. XXXX : {$300.00} XXXX. Price at XXXX : {$1.00}. Date and Time : XXXX XXXX UTC

Company response to consumer: Closed with explanation