Consumer complaint received 2022-09-27 00:00:00
Product: Money transfer, virtual currency, or money service — Virtual currency
Issue: Fraud or scam — 
Company: Coinbase, Inc.
State: FL

Complaint narrative:
Description : Coinbase account XXXX XXXX XXXX! Case # XXXX - Call for US Coinbase Support from XXXX at XX/XX/XXXX XXXX XXXX # XXXX my last successful sign in to my coinbase account through my coinbase app on my XXXX XXXX XXXX was on around XX/XX/XXXX, I tried to sign in since than but unsuccessfully, and the last transaction that I did authorized in my account was on XXXX XXXX XXXX it was a XXXX purchase of {$500.00} any transactions after this date was NOT AUTHORIZED, and I also made several purchases and sold cryptos on the month of XX/XX/XXXX! Answer # XXXX the unauthorized actions that I was able to see was only from my bank account since I was and still blocked from my coinbase account since the end of XXXX so I can't access or see anything that's going on with my coinbase account, my bank notified me immediately on the same time when XXXX unauthorized attempt transactions withdrawals were made by coinbase this month of XXXX from XXXX thru XXXX, here 's the amounts in US dollars : $ XXXX $ XXXX $ XXXX $ XXXX {$950.00}! My bank was able to stop this transactions to go further and when they notified me I immediately called coinbase also on the number XXXX and spoke with an agent and he confirmed that this unauthorized transactions were made in my account but was still on hold ( pending ) so the agent said that he was able to stop this transactions to be completed and blocked my account again, but my account was already blocked before because I couldn't have access to it and every time I tried it was asking me to enter a 2nd verification code that I didn't have it and never needed before to sign in, my sign in was always from my coinbase app from iPhone Face ID recognition since I opened the account many years ago, so I wasn't able to sign in because I didn't have access to this new verification code requirement! # XXXX YES, my device was and is always in my possession at the whole time and I'm living in XXXX for a year now not in the USA XXXX so any attempts made to access my account outside XXXX XXXX XXXX wasn't me XXXX # XXXX YES, I've been in touch with coinbase customer service almost everyday since I felt that my account was compromised, I spent many days and many hours with coinbase on the phone and no solution was provided, only exhausted excess of times trying to unblock my account trying to sign in without the 2nd verification in a different way on my coinbase app choosing * try another way verification* with my photo ID front and verse with their assistance unsuccessfully done, than sending my self prof of ID of my self holding a piece of paper saying in writing for security verification requirement only, the date and a photo ID attached many times, the last time I sent was XX/XX/XXXX, many excuses for not being able to unblock my account and calls eventually been dropped, disconnected after hours on the phone, agents without knowledge to respond of what was going on with my account with very limit information and details overall! Very stressful and humiliating! XXXX NO interruption with my phone! Nothing! # XXXX NO, I received a email from coinbase * XXXX on around XX/XX/XXXX requesting me to send my photo ID for an account security verification requirement, clicking on the link I prompted received a SMS from coinbase with another link to download my photo ID, before doing the upload and send the information to coinbase I even called coinbase on their number XXXX and asked the agent if coinbase to make sure that the request really came from coinbase and if was veritable and he confirmed yes, that coinbase needed that information to update my account for security reasons and that's formally done every now and then, which I've done it in the past, so I completed the request downloading the photo ID on the link and sending to coinbase, after that I received another text message saying that my account verification was successfully completed and that I was outset to sign in into my coinbase account! For security reasons I also changed my password and I also received a text message after changing from coinbase advising that my password was successfully changed and If wasn't me, that I must block my account immediately! # XXXX NO- # XXXX NO, I have the most new technology XXXX XXXX XXXX! # XXXX NO- # XXXX all I know is that I start to have issues to access my account on the end of XXXX after responded to coinbase request to update my account information, even making sure that the email was veridic from coinbase by calling coinbase to confirm the receive of the email requesting that information, so all I can suspect is that my account was compromised, by whom? I don't know, it's very strange that after been in touch with coinbase all this time with my account been blocked many times, coinbase been very aware of my account been compromised because was coinbase to first contact me to request security verification and suddenly after weeks my assets vanished and yesterday I received another email from coinbase now saying that my account is was putting under restriction for a negative balance of {$110.00}, this is insane, a nightmare, where's my assets investments of {$13000.00} that worked hard to invest and the last saw this balance in XXXX on my coinbase account that's secured by coinbase and insured by coinbase insurance! My initial investment was over {$50000.00} with purchases of thousands of XXXX different cryptos currencies, when I purchased the cryptos market price was high, now in the low with the devaluation is about {$13.00}! Please I demand to have my assets refund to my account immediately and also to be able to sign in to my account! I will not measure any efforts to file a lawsuit and to bring coinbase to justice for financial crimes against its customers! I called XXXX  bureau and they advised that are thousands of customers complaints only in the month of XXXX and XXXX for the same reason as mine! Millions of assets have been vanished from coinbase customers accounts and this is unacceptable and coinbase is fully responsible for this fraud period!

Company response to consumer: Closed with monetary relief