Consumer complaint received 2025-11-12 00:00:00
Product: Money transfer, virtual currency, or money service — Virtual currency
Issue: Money was not available when promised — 
Company: Coinbase, Inc.
State: NC

Complaint narrative:
I am filing this complaint because Coinbase has effectively locked me out of my active derivatives position, preventing me from managing, closing, or even viewing it for around XXXX XXXX. 

On or around XX/XX/year>, my open derivatives position on Coinbase became invisible in my account dashboard. The interface showed {$0.00} derivatives balance and no open positions, even though my account continued to incur daily funding and maintenance fees proof that the position still exists on Coinbases backend.

Coinbases support team initially advised me to delete my open limit orders, claiming this would restore visibility. I followed all instructions, yet my account still shows no active position, and I continue to be charged daily.

Coinbase has had system issues notifying investors of an app. liquidation price so I initially added approximately {$45000.00} XXXX  in the account in order to have collateral against my position so my liquidation price is lowered. Coinbase automatically extracted funds from this open USDC amount and added to the position margin these previous XXXX weeks or so. I now have approximately {$35000.00} XXXX open funds sitting in the account. I can not extract the $ XXXX because the position is showing closed and extracting the XXXX risks my liquidation. I am currently in urgent need of this XXXX to transfer back into my bank account for bills. I have no ability to close, hedge, manage or see where my liquidation price is currently sitting. Coinbase is continuing to debit fees and funding costs from my account while denying me access to control or even view the trade. 

This situation directly violates Coinbases own user agreement and federal consumer protection standards under the Consumer Financial Protection Act ( 12 U.S.C. 5531 and 5536 ), which prohibit financial institutions from engaging in unfair, deceptive, or abusive acts or practices ( UDAAP ).

Coinbase is charging me for a product or service I can not use, while I can not have access to my own XXXX or derivatives position, which constitutes : -Unfair practices under 12 U.S.C. 5531 ( c ) ( 1 ) ( A ), as it causes substantial injury to a consumer that is not reasonably avoidable.

-Deceptive practices under 5531 ( d ), as their system displays a {$0.00} balance while fees continue to accrue.

-Abusive practices under 5531 ( d ) ( 2 ), as they have taken advantage of their control over my account and technical system to my detriment.

This has caused significant financial harm and risk, as I have no ability to protect or recover my capital while they continue billing me daily.

I am demanding the following resolution : -Immediate closure of the hidden derivatives position in full.

-Full refund of all margin at the original cost basis, as if the position were never opened.

-Refund of all funding, maintenance, and related fees accrued.

-A written confirmation from Coinbase of corrective action taken to prevent this from happening to other users.

Coinbases conduct here constitutes an unfair and abusive financial practice, and I request that the CFPB review their derivatives and margin trading operations for systemic consumer protection violations. Please see attached screenshots proving {$0.00} balance from laptop and from phone app, also screenshot of fees being charged in transaction history for past 30 days. 

Thank you for your consideration and assistance in this matter.

Company response to consumer: Closed with monetary relief