Consumer complaint received 2022-07-19 00:00:00
Product: Money transfer, virtual currency, or money service — Virtual currency
Issue: Other transaction problem — 
Company: Coinbase, Inc.
State: NJ

Complaint narrative:
On XX/XX/XXXX around XXXX my phone number was XXXX swapped and a hacker got access to my phone number, logged into my Coinbase account and changed my password. In the morning I saw I had no service and called my service provider ( XXXX XXXX ), they told me I had transferred my phone number. I denied this acting and they locked my phone number right away so hacker won't access any more of my accounts I fought back with my service provider to gain back my number and even had to get a police report. As I do this, I try to login to Coinbase and see my password had changed. I called Coinbase right away and explained to them what happened and that I needed access to my Coinbase account. They sent me email instructions to unlock my account and they told me that all of my cryptocurrencies were in my account and that there were no transfers in my account for the past 3 days. The next day ( XXXX ) I called back because I haven't received an email and the representative sent me another email. I never received that email also, so I checked my XXXX  settings and the hacker had blocked Coinbase from contacts. I unblocked coinbase from my XXXX and called coinbase again for the email. They sent me another email to unlock my account which I finally received and I had to wait XXXX after unlock to access my account. Next day ( XX/XX/XXXX ) I finally log in my account and my account balance was {$0.00}. I had invested over {$440000.00} in Coinbase, but due to market volatility and a recent transfer of over {$50000.00} to my ledger I only had a value of around {$80000.00}. I called Coinbase to ask them what happened to my cryptocurrencies since own XX/XX/XXXX when first called, they told me all of my funds crypto 's were there and that there were no transactions. The representative couldn't answer my question, They couldn't see any cryptos, history, statements, transactions or even a payment method in my account. It seemed like I had a brand new Coinbase account. They escalated my case to Coinbase pro department case # XXXX and told me to wait for an email because they don't had phone service. On XX/XX/XXXX I wake up and receive an email from Coinbase : Our records show that on XXXX XXXX XXXX XXXX your Coinbase Password was changed using a XXXX XXXX XXXX XXXX, from residential IP address : XXXX - XXXX, ILLINOIS. After resetting your password, the attacker entered the new password and a 2-step verification code sent to your verified mobile number and signed in. This device was also confirmed for use with your account via the new device confirmation link sent to your email address. 

To reset your password, access to your email is required, suggesting an email compromise. your 2FA method has been changed as well, we highly suggest you contact your service provider to ensure only you are in control of your number, as an unauthorized password reset also indicates your phone number may have been compromised. 

After your account was accessed, the following transactions occurred in your Coinbase Pro account : XXXX XXXX XXXX XXXX - XXXX XXXX sent to external address XXXX XXXX XXXX XXXX XXXX - XXXX XXXX sent to external address XXXX XXXX XXXXXXXX XXXX XXXX  - XXXX ETH sent to external address XXXX XXXX XXXXXXXX XXXX XXXX  - XXXX XXXX sent to external address XXXX XXXXXXXX XXXX XXXX XXXX  - XXXX XXXX sent to external address XXXX XXXX XXXX XXXX XXXX - XXXX XXXX sent to external address XXXX XXXX XXXXXXXX XXXX XXXX - XXXX XXXX sent to external address XXXX Coinbase was aware of my account being compromised on XX/XX/XXXX and assured me my account was being handled safe but they allowed hacker to transfer over {$80000.00} in crypto value the next day even when I called every day to get access to my account. Now Coinbase is not willing to take responsibility for their mistake and unwilling to refund me the cryptocurrencies they allowed to be transferred without my permission. I had first called on XX/XX/XXXX, there shouldn't be a reason why Coinbase allowed my account to be wiped out on XX/XX/XXXX.

Company response to consumer: Closed with monetary relief