Consumer complaint received 2024-11-03 00:00:00
Product: Money transfer, virtual currency, or money service — Virtual currency
Issue: Other transaction problem — 
Company: Coinbase, Inc.
State: OK

Complaint narrative:
Complaint Against Coinbase Reference : Case # XXXX Nature of Complaint I am filing this complaint regarding Coinbase 's : 1. Discriminatory refund practices 2. Inadequate security measures 3. Pattern of closing multiple fraud cases without resolution 4. Failure to properly investigate unauthorized transactions 5. Systematic practice of ignoring customer complaints Pattern of Negligence Multiple support cases were opened for the same unauthorized transactions ( Case # XXXX, XXXX, XXXX and XXXX ) Coinbase repeatedly closed these cases without resolution Final case ( # XXXX ) also closed without proper investigation Research reveals numerous similar lawsuits from other Coinbase customers facing identical issues On XX/XX/XXXX, after multiple failed resolution attempts, I : o Made final demand for resolution o Withdrew all remaining assets from platform to prevent further risk o Informed Coinbase of intent to pursue regulatory and legal remedies Incident Details On XX/XX/XXXX, my Coinbase account experienced unauthorized withdrawals totaling {$12000.00} : {$9700.00} at XXXXXXXX XXXX XXXX {$1500.00} at XXXX XXXX  XXXX {$940.00} at XXXX XXXX  XXXX Coinbase confirmed these transactions were initiated from an unauthorized IP address ( XXXX ) using a XXXX XXXX device. 
Primary Violations 1. Systematic Case Mishandling o Multiple cases opened and closed without resolution o Pattern matches complaints in existing class action lawsuits o Demonstrates systematic failure in customer protection 2. Geographic Discrimination o Coinbase explicitly on the phone denied my refund based s on geographic location o Company confirmed New York residents would receive refunds for identical circumstances o This represents potentially discriminatory practices in violation of consumer protection laws 3. Security and Response Failures o Failed to prevent multiple successive unauthorized withdrawals o No fraud detection system flagged unusual withdrawal patterns o Multiple support cases closed without resolution o Pattern of similar incidents reported by other customers Actions Taken 1. Filed police report 2. Completed account recovery process 3. Documented all unauthorized transactions 4. Maintained extensive correspondence with Coinbase Support 5. Made final attempt to resolve on XX/XX/XXXX 6. Withdrew remaining assets to prevent further unauthorized access 7. Researched similar cases and class action lawsuits Supporting Documentation Available Multiple case numbers and correspondence Police report Transaction records Email correspondence with Coinbase Account activity logs Documentation of similar cases and lawsuits Requested Action I request that CFPB and SEC investigate : 1. Pattern of systematically closing fraud cases without resolution 2. Coinbase 's discriminatory refund policies 3. Relationship between my case and existing class action lawsuits 4. Adequacy of their security measures 5. Compliance with consumer protection regulations Contact Information Name : XXXX XXXX Phone : XXXX Email : XXXX Case Reference : # XXXX

Company response to consumer: Closed with explanation