Consumer complaint received 2026-04-24 00:00:00
Product: Money transfer, virtual currency, or money service — Virtual currency
Issue: Other transaction problem — 
Company: Coinbase, Inc.
State: WA

Complaint narrative:
The origin of this complaint comes from the failed follow through of a previous CFPB report XXXX. The company claimed the following, " In regards to your concern about the verified bank account that did not match your personal information, a review of your account and your communications with Coinbase shows that Coinbase XXXX is still actively working on our investigation regarding this particular issue via support ticket # XXXX. We encourage you to continue working with our support team via support ticket # XXXX. '' They are referring to an email I received at XX/XX/year> a day before the CFPB report was due. The email greets me with the opening " XXXX XXXX '' before it explains that they have concluded that the attack vector had been identified as a session compromise. My name is not XXXX. Despite the fact they couldn't get my name right for an email that is supposed to be a continuation of the XXXX team that worked on the CFPB report, they failed to even make any note of the bank name mismatch that would be acknowledged XXXX days latter in the CFPB report that was submitted a day late. On XX/XX/year> I replied to the email on XX/XX/year> wanting them to clarify my name and asking questions in relation to the name mismatch they themselves admitted to way back in XX/XX/year> and a screenshot showing the Coinbase site informing the user that names must match. On XX/XX/year> I called the Coinbase customer response team and demanded some answers as to how they are allowed to directly go against their own CFPB report. The first call lasted about XXXX minutes before I was hung up on while on hold. The second call at XX/XX/year> XXXX I got a hold of a wonderful if unfortunately limited representative that went by the name XXXX that took a look at my case. After nearly half an hour she was able to find in the notes of the case that the first name did match but the last name didn't. She then said she would escalate the case again in hopes it would land in the hands of a competent XXXX that would actually answer my questions. She also provided me with an email admitting the information and possible reasons for the name verification failing. The reasoning that was provided was either fuzzy matching or bank data latency. Both of which force Coinbase to be liable for damages resulting from the name mismatch. XXXX also asked if I could give them XXXX days to finish up their report to provide a full response. XXXX days latter I call again on XX/XX/year> XXXX. The Coinbase representative was barely audible on the other end forcing me for the betterment of my time to hang up after XXXX minutes and request another call. At XX/XX/year> XXXX I attempted to simply call back but this failed due to their system not accepting incoming calls. At XX/XX/year> XXXX for over XXXX hours I had attempted to get answers out of them and have them honor their agreement for XXXX additional days of investigation. They provided no answers to me or other then an email at XX/XX/year> XXXX claiming they where finalizing records to ensure my report is addressed accurately. On XX/XX/year> XXXX I received XXXX more emails from the investigation team, XXXX XXXX minutes after the other. The first mentions the name mismatch with the following, " Youre absolutely right to be concerned about the name mismatch. Under normal circumstances, controls around identity and payment method ownership are intended to help prevent exactly this kind of scenario. However, when an attacker is acting from within a fully authenticated, trusted session, they can effectively " bypass '' many front? end protections and warnings, because the platform treats them as the legitimate, logged? in customer at that moment. '' That is the message copy pasted from the email, random question marks and all. The second email provides no additional information other then showing their aptitude for formulating emails that brush right up to the line of directly insulting their consumers. On XX/XX/year> XXXX I respond to their email with questions as to their prosses for name verification and whether or not a withdraw was able to conclude before confirming an exact name match especially considering my account was flagged and locked immediately after the withdraw initiated. They have failed to provide a response as of righting this report. On XX/XX/year> XXXX I requested another call, and was fortunate to get XXXX XXXX, whom figured it would be time to file a formal complaint. After attempting to do so for over an hour, failing to pass the verification step every time for an unknown reason, XXXX said she would call me back at XXXX to try again. She wasn't able to call back but did email me about her attempt. I request a call from the customer support team once again and get connected to another agent. She apparently knew XXXX and spoke to her regarding my case directly. We attempted to file another formal complaint like last time but ran into the same issue regarding the verification system not working and allowing me to send the complaint. The call lasted an hour and XXXX minutes and i was hung up on while on hold yet again. Its here I would like to make something clear that I don't believe has been properly understood yet. To whoever at Coinbase is reading this, I am never going away. I lost XXXX of everything I own because your name verification software failed me. I'm on medical leave and unable to hold a job due to a literal list of health issues. I would like to get this over with more then you but unlike you XXXX cant simply walk away.

Company response to consumer: Closed with monetary relief