According to a CNBC investigation, 11,000 US customers filed complaints against Coinbase due to possible account hacks and poor exchange support.
CNBC reporters published an investigation with links to interviews with numerous Coinbase clients. Traders claim that hackers have devastated their accounts. The problem was aggravated by the fact that the exchange’s support service did not respond to inquiries or got along with unsubscribes:
“Interviews with Coinbase customers across the country and reviewing thousands of complaints have revealed a pattern in account hacking. Users claim that money has suddenly disappeared from accounts on the exchange. The poor performance of Coinbase customer support makes the situation worse – users feel abandoned and angry. ”
One of Coinbase’s clients, Tanya Vidovich, said she lost almost all of her crypto assets worth around $ 168,000 after receiving a series of password change alerts in April. Attempts to contact Coinbase by phone have been unsuccessful, Tanya said.
Another exchange client told the publication that after logging into the Coinbase app in March, almost $ 35,000 in various cryptoassets disappeared from his account. Coinbase’s regulatory response team sent the victim an email stating that blockchain transactions are irreversible and Coinbase’s insurance policy does not cover theft from individual accounts.
In March, the New York Times published an article about a Coinbase client who is suing the company after losing $ 100,000 in cryptocurrencies. Some disgruntled Coinbase clients have taken to social media. For example, the popular analyst Caleo stated on Twitter that the company showed a low quality of customer service in relation to his father, who for three months has not been able to receive a response from the exchange to his request.
The tweet caught the attention of the community, and many users wrote in the comments that they were facing similar issues. Coinbase responded to Caleo’s complaint, to which one of the users wrote that the company is ready to help only customers with a large number of followers on social networks to maintain its reputation, but is not interested in solving the problems of other users.
You will only reply and assist people who has many followers so your reputation will not go down to hell! What about us? 5 months with no help! Locked account!
— mshb (@Mmswerh) August 24, 2021
Since 2016, Coinbase users have filed over 11,000 complaints against Coinbase with the FTC and the US Consumer Financial Protection Bureau, according to CNBC. Most of them are related to customer service. As a reminder, in April, Coinbase began trading on the Nasdaq stock exchange under the ticker COIN.
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