Consumer complaint received 2025-10-22 00:00:00
Product: Money transfer, virtual currency, or money service — Virtual currency
Issue: Fraud or scam — 
Company: Coinbase, Inc.
State: NC

Complaint narrative:
Issue Type : Unauthorized transactions/ identity theft / failure to investigate or remediate fraud Case Reference ( Coinbase ) : # XXXX Complaint Summary : I am filing this complaint regarding a severe case of identity theft and financial fraud involving multiple unauthorized Coinbase accounts created under my name and using my personal information without consent. These accounts have been used to conduct transactions totaling XXXX XXXX XXXX  of dollars, including unauthorized withdrawals directly from my personal bank account, resulting in the theft of several XXXX dollars. 

On XX/XX/year>, I contacted Coinbase XXXX and spent more than XXXX hours on the phone with a representative named XXXX. During that call, Coinbase confirmed that at least XXXX separate accounts had been opened in my name. I was assured that a full investigation would be conducted, that I would receive a detailed report from XXXX fraud and compliance team, and that I would be reimbursed for the stolen funds. 

Instead, I received a non-functional link and a follow-up email indicating that the case was closed without any investigation results or refund. Coinbase has since failed to respond meaningfully to repeated follow-up requests. 

This situation constitutes a serious breach of Coinbases legal obligations as a regulated Money Services Business ( MSB ) under the Bank Secrecy Act, the XXXX XXXX XXXX, and the XXXX XXXXt, which require : Timely investigation and reporting of fraudulent financial activity ; Protection of consumer financial data ; and Cooperation with identity theft victims under the Electronic Fund Transfer Act ( EFTA ) and XXXX XXXX regarding disputed transactions. 

XXXX failure to investigate or remediate this fraud and its decision to close the case without transparency has caused ongoing financial and reputational harm. I am now receiving tax liability notices linked to fraudulent accounts that I did not open, showing Coinbases reporting of these unauthorized transactions as legitimate income under my XXXX XXXX number. 



Law Enforcement Involvement : This matter is currently under active criminal investigation with the XXXX XXXX XXXX XXXX XXXX : XXXX XXXX Email : XXXX Phone : ( XXXX ) XXXX Case Report # : XXXX Requested Resolution : I am requesting that the CFPB compel Coinbase to : XXXX. Reopen Case # XXXX and conduct a full, good-faith investigation ; XXXX. Provide a detailed written report identifying all Coinbase accounts and transactions created using my name, personal data, or linked financial instruments ; XXXX. Refund all funds fraudulently withdrawn from my personal bank account via Coinbase or related platforms ; XXXX. Correct any false tax reporting or account data associated with my identity ; and XXXX. Confirm in writing the steps Coinbase will take to protect against further unauthorized activity Due to the severity of this case and the companys ongoing noncompliance, I respectfully request urgent regulatory review and enforcement action to ensure Coinbase fulfills its obligations under federal consumer protection and financial privacy laws.

Company response to consumer: Closed with explanation