Consumer complaint received 2025-06-23 00:00:00
Product: Money transfer, virtual currency, or money service — Mobile or digital wallet
Issue: Fraud or scam — 
Company: Coinbase, Inc.
State: NY

Complaint narrative:
b'To Whom It May Concern,\n\nMy name is XXXX XXXX. I entrusted my son, XXXX XXXX, with funds to purchase XXXX XXXX XXXX on my behalf using Coinbase Pro, based on the understanding that Coinbase Pro offered enhanced security over the standard Coinbase platform. However, after Coinbase discontinued Coinbase Pro and migrated assets to the standard Coinbase platform, the Ethereum coins eventually disappeared from the account.\n\nUpon discovering the loss, I contacted Coinbase support. Unfortunately, the experience was extremely difficult due to a language barrier, and I was not permitted to speak with a manager, supervisor, or anyone from the security team. The support team conducted an investigation and informed me via email that the coins had been stolen from an IP address in XXXX XXXX.\n\nFollowing this, my son filed a police report with the XXXX XXXX Police Department. The department informed us that Coinbase has a history of being uncooperative with law enforcement, which was consistent with our experience despite Coinbases assurances that they would collaborate. We repeatedly provided the assigned detectives contact information, but Coinbase failed to follow through.\n\nSubsequent investigations by Coinbase produced conflicting information. The second report claimed the coins were accessed from an IP address near my sons, in XXXX XXXX. A third investigation cited an IP address in XXXX NY. At no point did Coinbase provide any meaningful detailssuch as the destination of the stolen funds, associated bank account numbers, or account holder informationdespite repeated written requests.\n\nCoinbase offered a one-time credit if we fully cooperated with their investigation. We complied with all their requests, including filing a report with the FBI and completing identity verification procedures such as facial and voice recognition. We also answered detailed security-related questions regarding phone access, suspicious emails or calls, and downloads, all of which confirmed no external compromise.\n\nI have documented this experience extensively, including recordings of phone calls and over 30 emails that illustrate a pattern of inconsistent and misleading communication from Coinbase. Based on the contradictory information provided and their failure to engage with law enforcement, I have strong reason to believe this may have been a case of internal theft. Furthermore, Coinbase has reportedly experienced multiple security breaches around the time of this incident.\n\nAs a rXXXX XXXX XXXX XXXX who is also a XXXX XXXX  dealing with ongoing health issues, I am simply trying to get my affairs in order to ensure my family is taken care of. The lack of professionalism, transparency, and accountability shown by Coinbase throughout this process has been deeply troubling. At one point, I was even mocked by a support representative while discussing the theftsomething I found appalling and disrespectful.\n\nWe have been exceedingly patient and cooperative throughout this ordeal. I hope you will take this matter seriously and assist in bringing about a resolution.\n\nThank you for your time and consideration.\n\nSincerelyXXXX XXXX XXXX XXXX

Company response to consumer: Closed with monetary relief