Consumer complaint received 2025-12-22 00:00:00
Product: Money transfer, virtual currency, or money service — Virtual currency
Issue: Money was not available when promised — 
Company: Coinbase, Inc.
State: DC

Complaint narrative:
Summary of Complaint I am submitting this complaint regarding Coinbase XXXX Inc.s handling of two failed bank deposits totaling {$10000.00}, which were debited from my bank account but never credited to my Coinbase account, followed by wrongful liquidation of my crypto assets to cover an alleged negative balance.

Despite repeated assurances from Coinbase support agents that the funds would be refunded within specified timeframes ( 3 business days, then 10 business days, later XX/XX/year> ), Coinbase never returned the funds, failed to maintain a transparent or accessible case history, and ultimately sold approximately XXXX XXXX from my account during an active support chat, causing additional financial harm. 

Detailed Timeline XXXX XX/XX/year> Two separate bank transfers of {$5000.00} each were initiated to Coinbase. 

Both amounts were successfully debited from my bank account. 

Neither deposit ever appeared in my Coinbase account. 

Initial Coinbase Support Case ( Case # XXXX ) Coinbase support acknowledged the failed transactions. 

I was informed verbally and via chat that funds would be automatically returned within 13 business days.

No refund occurred. 

Follow-up Case and Document Submission ( Case # XXXX ) Coinbase requested bank statements and transaction proof via their SendSafely portal. 

I uploaded bank statements and transaction screenshots, clearly showing : {$10000.00} debited by Coinbase No corresponding credit to Coinbase Coinbase support agent XXXX confirmed in writing that : Our specialist team took a look, and the good news is you should be receiving your refund within the next 10 business days. 

Lack of Case Transparency Coinbases Case History interface consistently showed only : Case Created Agent working on your request None of my emails, uploads, or communications were visible or acknowledged in the case history. 

Support agents repeatedly stated they could not see prior emails or documents, nor provide written confirmation. 

Bank Recovery and Coinbase Clawback Due to Coinbases failure to return the funds, I filed a dispute with my bank.

The bank temporarily credited my account, reversing the original debit.

Coinbase then : Marked my account as having a negative balance Threatened liquidation unless I deposited {$10000.00} Automatically sold approximately XXXX XXXX  from my account without consent Active Chat During Liquidation ( Case # XXXX ) While I was actively chatting with Coinbase support, my XXXX  was sold via automatic recovery. 

Multiple agents gave conflicting explanations, but ultimately acknowledged : The XXXX was sold to cover a negative balance The negative balance resulted from the bank reversal This ignores the original fact that Coinbase never credited the deposits in the first place. 

Conflicting Assurances Coinbase agents repeatedly assured me that {$10000.00} would be made available on XX/XX/year> at XXXX XXXX  PDT, but : Could not confirm whether this would be cash or crypto Could not provide written confirmation Could not explain why assets were liquidated before resolution Improper Fund Handling Coinbase debited my bank account without crediting my Coinbase account.

Coinbase failed to refund those funds directly.

Wrongful Asset Liquidation Coinbase liquidated crypto assets to recover a negative balance that arose only because Coinbase failed to return funds it never credited.

Lack of Ticket Transparency No complete or auditable support record.

Emails and uploaded documents not visible to customer or agents.

Cases repeatedly marked closed despite unresolved status.

Misleading and Contradictory Representations Conflicting timelines ( 3 days, 10 days, XX/XX/XXXX, XX/XX/XXXX ). 

No written confirmation of commitments. 

Agents acknowledged specialist review but provided no evidence.

Consumer Harm Loss of ~ {$10000.00} in liquidity for weeks. 

Forced liquidation of XXXX XXXX. 

Emotional XXXX, significant time spent, and inability to rely on Coinbases dispute process.

Company response to consumer: Closed with monetary relief