Consumer complaint received 2026-03-09 00:00:00
Product: Money transfer, virtual currency, or money service — Virtual currency
Issue: Other transaction problem — 
Company: Coinbase, Inc.
State: CA

Complaint narrative:
On XX/XX/XXXX, my Coinbase account was accessed without authorization and used to liquidate my major crypto holdings and execute a rapid sequence of unauthorized trades, including Coinbase Retail Simple XXXX Buy transactions. I did not initiate, approve, or intend these transactions. Unauthorized transactions ( from Coinbase transaction history ) : XXXX XXXX UTC : XXXX sold ( XXXX XXXX {$22000.00} ) XXXX XXXX UTC : XXXX sold ( XXXX ETH {$9400.00} ) Immediately after ( approx. XXXX UTC ) : XXXX USD/USDC conversions and multiple Retail Simple XXXX Buy transactions in large tranches ( including approximately {$5000.00}, {$8000.00}, {$17000.00}, {$10000.00}, {$2000.00}, and {$850.00} ). Total loss is approximately {$33000.00} {$35000.00}. My Coinbase Account Activity log around the same period shows a compromise/break-in pattern ( multiple failed password attempts and failed 2-step verification attempts, followed by successful sign-in/2-step verification events and a password change, and activity across multiple locations/IPs in a short window ). This is not consistent with normal account usage. I immediately secured my account and reported the incident to Coinbase Support. Coinbase denied reimbursement and repeatedly treated the activity as authorized based primarily on device/IP assertions. Coinbase also did not adequately address my requests for key information, including : A notification audit for the major liquidation sales ( what alerts were sent, channel/timestamps, and whether notification settings changed during the compromise window ). Clarification of how Coinbase concluded a XXXX device was consistent with prior usage ( I have been a Coinbase customer since XXXX and have never used a XXXX device to access Coinbase ). Clarification on what, if any security / anti-fraud mechanisms were triggered, and if not, why, by " XXXX '' XXXX transactions within Coinbase of a know-to-be Scam coin XXXX and XXXX. I submitted a formal complaint to Coinbase on XX/XX/XXXX. Coinbase issued a final response dated XX/XX/XXXX denying the complaint and reimbursement. The final response contains a material factual error : it states that I alleged the attacker sent the funds in question to an external blockchain address, which is not what I alleged. My complaint concerned unauthorized access and unauthorized internal liquidation/trading activity within Coinbase, including Retail Simple XXXX XXXX transactions. Coinbase closed the matter and refused to reopen or correct this mischaracterization. I am requesting that Coinbase reopen and properly review this incident as unauthorized access/unauthorized transactions, provide a written determination supported by complete session/device/notification logs, correct the record regarding the nature of my complaint, and provide remediation/compensation ( account credit and/or reversal where feasible ) for losses resulting from the unauthorized liquidations and XXXX trades.

Company response to consumer: Closed with monetary relief