Consumer complaint received 2025-03-05 00:00:00
Product: Money transfer, virtual currency, or money service — Virtual currency
Issue: Other transaction problem — 
Company: Coinbase, Inc.
State: CO

Complaint narrative:
Description of the complaint : XX/XX/XXXX - I signed up and created an account with Coinbase. I submitted my driver 's license as proof of ID, and linked my bank account via XXXX XX/XX/XXXX- I purchased {$1100.00} worth of crypto ( XRP and Shib ) XX/XX/XXXX I got an email saying they suspected suspicious activity and they temporarily limited my ability to purchase or send additional crypto. 
XX/XX/XXXX, I logged into my account and saw the message " Unable to buy crypto?

To help keep Coinbase safe for everyone, we determined that you are no longer eligible to buy crypto on Coinbase. However, you can still sell, transfer, or withdraw any cryptocurrency you have on Coinbase. For security reasons, we are unable to disclose the details behind this decision.

I was extremely confused by this, as I've never been banned from any website before, I searched their FAQs to see if I could get more info. I " talked '' to their chatbot and was given a repeating menu that took me nowhere. Eventually, I requested a phone call to see what the issue was, and how to retrieve the money I purchased. The agent on the phone told me there was still a hold on my account and that I should be able to make a withdrawal on or after XX/XX/XXXX. 
XX/XX/XXXX- I received an email from Coinbase saying that the withdrawal hold was released. 
XX/XX/XXXX- I went into my account and sold the shares of crypto I purchased, but I was then prevented from withdrawing the money. I called Coinbase again, and they told me there wasn't much they could do, but to just wait. However, an agent assured me she escalated the issue to their review team and that it would be resolved in a week. I waited a few days to give them time to review my issue. 
XX/XX/XXXX- I requested a call ( requesting a call is the ONLY way to talk to a live person ). The agent was more helpful and spent 1.5 hours on the phone with me. He asked me questions ( last 4 digits on my bank account, can I send screenshots of the issue, where am I located, etc. ) that made me think it would be resolved on the call. At the end of the call he told me that the escalation/review team was on it and reviewing the issue and would have it resolved in 2-3 business days. I was given a link to a XXXX  to send a screenshot of the message I see when I try to withdraw my money. I asked if there was a case ID or support ID # I could use to reference this issue. He said he wasn't authorized to give me that info. 
XX/XX/XXXX - I requested a call from Coinbase again. This agent said she would escalate the issue ( so now I am unclear, it wasn't escalated before )? This time she said I needed to verify my ID ( again ). I had to upload my driver ID and take a live selfie. Then she said I should have an update in 24-48 hours. She said once that clears I should be able to connect my bank account and withdraw the money. 
XX/XX/XXXX- I'm still unable to withdraw my money. So I requested a phone call. I was on the phone with the agent for a while again as they investigated the issue. The agent once again confirmed I am banned from using Coinbase and that it is irreversible. I keep being told the same thing over and over. I just want to get my money back. He said he was on the line with the review team to help me transfer my money. I finally got an email saying that my bank account access has been restored. They said it was escalated to their escalation team and would contact me in 2-3 business days. 
XX/XX/XXXX- I did not check my profile to give their team time to review the issue. 
XX/XX/XXXX- I logged in and still am unable to connect my bank account XX/XX/XXXX - Logged in and am still unable to connect my bank account. Its been 3 business days at this point and they have not communicated anything with me. 
XX/XX/XXXX - I still am unable to withdraw the money and as of this writing no one has emailed me any updates. I requested a phone call. The agent reviewed the notes, saw there is still a hold and contacted the review team to get more answers. I was told they are still reviewing my account ( conducting a thorough review - no info on what that means ) and it could take seven more days. She wasnt sure if its business or calendar days, my assumption is business days given the pattern thus far. The agent said they would email me with updates XX/XX/XXXX - No updates from Coinbase

Company response to consumer: Closed with explanation