|
Title: COINBASE - Serious Issue - Reversing Bank Deposits, erroneous withdrawals, etc.. Post by: crazy_rabbit on December 02, 2013, 03:54:50 PM First off, I'm a long time bitcoiner, been with coinbase since the very, very, begining. (Back when they were giving free 0.1 BTC for sign up). I'm verified, and verified at all the exchanges. I've been a speaker at the Bitcoin Conference, used to be big in terracoin, most people should kinda know me, and nothing to hide, etc....
So the week before thanksgiving I sold a number of bitcoin, less then 5, using coinbase. Transaction went fine, was a bit delayed, but the money for the sold bitcoin was deposited in my bank account. Today however I see that they have DEBITED my bank account for the exact same amount they previously deposited. No coins have been returned on my coinbase account however, and my bank account is now overdrawn by a could hundred dollars. https://i.imgur.com/hilIsGG.jpg I'm traveling at the moment and you can imagine my surprise when I tried to pay my airport taxi this morning and the charge was refused. I've received no email or information from Coinbase whatsoever to explain what has happened here. I have written support, but not heard back as of yet. Yes I have my bank account linked- as I THOUGHT Coinbase was a trustworthy company as they are a leader in the field. I am furious at the idea they will reverse bitcoin sales buy force debiting your account without notifying you. It was all I could do to find a way to pay for my taxi at JFK and now of course I'm on the hook for overdraft fee's at my bank. Has anyone else experienced a problem link this? I am absolutely dumbfounded. EDIT: I changed the subject line to sound less dramatic and inflamatory. Obviously I'm calming down a bit, but still stocked and very much upset. Title: Re: COINBASE - Serious Issue - Reversing Bank Deposits and Reversing Bitcoin Sales!! Post by: BitcoinWalker on December 02, 2013, 04:31:46 PM It looks like it's a very weird situation. Make sure everything is fine on your end before contacting Coinbase. Good luck!
Title: Re: COINBASE - Serious Issue - Reversing Bank Deposits and Reversing Bitcoin Sales!! Post by: sangaman on December 02, 2013, 07:50:08 PM This is one of the sketchiest issues yet. I hope they explain what happened and why it happened as well as reimburse you for any NSF fees you incurred. They can't just go sapping money out of your bank accounts without any reason or notice.
Title: Re: COINBASE - Serious Issue - Reversing Bank Deposits and Reversing Bitcoin Sales!! Post by: goxed on December 02, 2013, 11:32:21 PM Someone had BTC10 stolen from coin base account today
https://bitcointalk.org/index.php?topic=355045.0 Title: Re: COINBASE - Serious Issue - Reversing Bank Deposits and Reversing Bitcoin Sales!! Post by: crazy_rabbit on December 03, 2013, 02:57:35 AM Someone had BTC10 stolen from coin base account today https://bitcointalk.org/index.php?topic=355045.0 Besides the obvious (the money being taken from my bank account), I haven't had anything stolen as far as I know. I have 2FA, so I feel like that is reasonably secure. Still no word from coinbase though as to whats up. :-( Title: Re: COINBASE - Serious Issue - Reversing Bank Deposits and Reversing Bitcoin Sales!! Post by: Phinnaeus Gage on December 03, 2013, 04:01:29 AM Something ain't right!
http://coinowl.com/coinbase-adds-65000-users-in-the-last-week/ Quote Coinbase has added a record 65,000 users in the past seven days, a ~15% increase in just one week. This comes on the heels of their Black Friday Special wherein they waived all fees on 11/29/2013. http://coinowl.com/wp-content/uploads/2013/11/coinbase-record-growth.png Title: Re: COINBASE - Serious Issue - Reversing Bank Deposits and Reversing Bitcoin Sales!! Post by: Phinnaeus Gage on December 03, 2013, 04:19:58 AM Good news! https://coinbase.com/security
Quote Coinbase employees must pass a criminal background check as part of the hiring process. Whatever happened, it probably wasn't by an employee. Title: Re: COINBASE - Serious Issue - Reversing Bank Deposits and Reversing Bitcoin Sales!! Post by: mustkillidiots on December 03, 2013, 04:26:11 AM A background check doesn't mean as much as you think.....It might just mean they haven't had the opportunity to steal an amount that is great enough to overcome their 'morality'. So they have passed background checks...doesn't meant that ethically, and for enough reward vs risk, they wouldn't take the risk for the reward.
Title: Re: COINBASE - Serious Issue - Reversing Bank Deposits and Reversing Bitcoin Sales!! Post by: italeffect on December 03, 2013, 08:40:15 AM There was something on reddit last week about a bunch of folks who sold on a certain day and had double deposits made to their checking accounts. Someone from CB was saying they were going to reverse the extra deposits this week. I didn't bother to search for it now but perhaps you can find something on the topic, and perhaps it is related to your issue. Still sketchy without any notification of course. I had a buch of bitcoin go missing from my account 2 weeks ago. It took several days to hear from support but after some quick back and forth they admitted to some sort of software bug and restored the BTC back into my account.
Title: Re: COINBASE - Serious Issue - Reversing Bank Deposits and Reversing Bitcoin Sales!! Post by: technomancer on December 03, 2013, 08:47:18 AM I sold my coins at nov 25th, still waiting my money. Customer support not answering emails.
Title: Re: COINBASE - Serious Issue - Reversing Bank Deposits and Reversing Bitcoin Sales!! Post by: crazy_rabbit on December 03, 2013, 01:31:30 PM There was something on reddit last week about a bunch of folks who sold on a certain day and had double deposits made to their checking accounts. Someone from CB was saying they were going to reverse the extra deposits this week. I didn't bother to search for it now but perhaps you can find something on the topic, and perhaps it is related to your issue. Still sketchy without any notification of course. I had a buch of bitcoin go missing from my account 2 weeks ago. It took several days to hear from support but after some quick back and forth they admitted to some sort of software bug and restored the BTC back into my account. Interesting, I'll check this to see if it's true in my case. Like most people, I'm not going over my balances with a fine tooth comb, and just accept my available balance as my real balance. Reversing transactions though with no notice is not cool though. EDIT: I haven't found anything on reddit yet. But I was checking the "issue tracker/operational status" thing on coinbase's page and they list no problems as having occurred. I'm still pretty upset with them. In terms of priorities, if they did double deposit people, top of their list needed to have been to inform users immediately of the situation. Title: Re: COINBASE - Serious Issue - Reversing Bank Deposits and Reversing Bitcoin Sales!! Post by: crazy_rabbit on December 03, 2013, 03:22:48 PM Coinbase got back to me saying indeed they were double depositing people and so a few days latter were debiting people back for the same amount.
They "thanked me" for bringing it to their attention, however of course they already knew about it if they were debiting people back for the same amount. I've asked them to refund any overdraft charges I may have to pay as a result, so I'll let you know what they say. Of course I should have noticed the double deposit, but I'm on the road at the moment, and like most people when you're in and out of airports: if there is money on the card, you assume you have money on the card. If they refund the overdraft charges I'll be satisfied, so here goes the litmus test. Title: Re: COINBASE - Serious Issue - Reversing Bank Deposits and Reversing Bitcoin Sales!! Post by: crazy_rabbit on December 04, 2013, 09:23:27 PM Well unfortunately things are not settled as of yet. Still no response to my request that the overdraft fee's be compensated by coinbase.
More disturbingly however: I got an email saying a 1 BTC purchase from my coinbase account on the 20th of Nov. was cancelled because I didn't have enough funds in my account. (Oh the irony). The real problem however is I didn't try to make any bitcoin purchases (I never have bought bitcoin with coinbase). So what the heck is going on? I wrote support again, but still no response. 12/02/2013 Fee RETURNED ITEM FEE FOR AN UNPAID $586.72 ITEM - DETAILS: COINBASE.COM/BTC *********** WEB ID: ******* $34.00 So basically I'm getting charged even AGAIN for a purchase I didn't make. It's such a mess, I wish support would step up and address whats going on. EDIT: My coinbase transaction history clearly shows I never made any attempt to purchase bitcoin through coinbase. Title: Re: COINBASE - Serious Issue - Reversing Bank Deposits, erroneous withdrawals, etc.. Post by: crazy_rabbit on December 17, 2013, 11:52:21 PM Update: Still no response from Coinbase. I've written them again. Not very nice customer service (no customer service) from what should be the market leader.
Title: Re: COINBASE - Serious Issue - Reversing Bank Deposits, erroneous withdrawals, etc.. Post by: nahtnam on December 18, 2013, 12:19:44 AM Coinbase recently "stole" 0.08 from me and I just PM'ed Olaf from coinbase. If they dont respond in a few days I will be giving them a call.
Title: Re: COINBASE - Serious Issue - Reversing Bank Deposits, erroneous withdrawals, etc.. Post by: fcmatt on January 09, 2014, 12:05:41 AM Any update? How they handle your problems will mean a lot to me and if i use their services.
Title: Re: COINBASE - Serious Issue - Reversing Bank Deposits, erroneous withdrawals, etc.. Post by: nahtnam on January 09, 2014, 12:33:22 AM Any update? How they handle your problems will mean a lot to me and if i use their services. For me? I still haven't gotten a reply from Coinbase. Title: Re: COINBASE - Serious Issue - Reversing Bank Deposits, erroneous withdrawals, etc.. Post by: fcmatt on January 09, 2014, 12:42:38 AM Any update? How they handle your problems will mean a lot to me and if i use their services. For me? I still haven't gotten a reply from Coinbase. I meant the OP but your answer does not help my faith in them. Title: Re: COINBASE - Serious Issue - Reversing Bank Deposits, erroneous withdrawals, etc.. Post by: nahtnam on January 09, 2014, 01:28:45 AM Any update? How they handle your problems will mean a lot to me and if i use their services. For me? I still haven't gotten a reply from Coinbase. I meant the OP but your answer does not help my faith in them. Essentially you probably won't have any issues but if something happens then you probably won't get it solved for about a month. Title: Re: COINBASE - Serious Issue - Reversing Bank Deposits, erroneous withdrawals, etc.. Post by: ajw7989 on January 09, 2014, 03:05:33 AM PM olaf from coinbase on these forums he usually responds back quick and with good results. Recently the few support issues I have had have been responded to pretty quickly too now though that more support has been hired.
Title: Re: COINBASE - Serious Issue - Reversing Bank Deposits, erroneous withdrawals, etc.. Post by: nahtnam on January 09, 2014, 03:49:10 AM PM olaf from coinbase on these forums he usually responds back quick and with good results. Recently the few support issues I have had have been responded to pretty quickly too now though that more support has been hired. At first he did reply fairly quickly but he stopped now. :( Title: Re: COINBASE - Serious Issue - Reversing Bank Deposits, erroneous withdrawals, etc.. Post by: nahtnam on January 09, 2014, 04:52:44 AM PM olaf from coinbase on these forums he usually responds back quick and with good results. Recently the few support issues I have had have been responded to pretty quickly too now though that more support has been hired. At first he did reply fairly quickly but he stopped now. :( I just re-pmed him, and bumped my case on their support. Lets see how long it takes for them to respond. Title: Re: COINBASE - Serious Issue - Reversing Bank Deposits, erroneous withdrawals, etc.. Post by: crazy_rabbit on January 14, 2014, 10:19:17 AM I'm finally getting really upset at coinbase.
In the past few days they have been sending me these messages: "Olaf replied: Thank you for contacting Coinbase Support! Unfortunately, we are experiencing a tremendous volume of support requests, and have not been able to answer your ticket in a reasonable amount of time. If you are still experiencing difficulties, simply reply to this email with a note that you still need help (you don't need to re-explain the issue you're experiencing), and we will do our best to address it as soon as possible. If your issue has been resolved please do not reply to this email. We have been experiencing exponential growth and are quickly expanding our support team to match. Thank you for your patience during this time and for your continued support while we grow! " Its insulting to ask if I am still experiencing difficulties, and it's more then once that they send this message, each time I reply back YES but they only send em another Olaf Excuse. WTF. Seriously, it's been over a month now and you can't find the time to direct some support person to my issue? Jerks. Title: Re: COINBASE - Serious Issue - Reversing Bank Deposits, erroneous withdrawals, etc.. Post by: nahtnam on January 14, 2014, 08:23:13 PM I'm finally getting really upset at coinbase. In the past few days they have been sending me these messages: "Olaf replied: Thank you for contacting Coinbase Support! Unfortunately, we are experiencing a tremendous volume of support requests, and have not been able to answer your ticket in a reasonable amount of time. If you are still experiencing difficulties, simply reply to this email with a note that you still need help (you don't need to re-explain the issue you're experiencing), and we will do our best to address it as soon as possible. If your issue has been resolved please do not reply to this email. We have been experiencing exponential growth and are quickly expanding our support team to match. Thank you for your patience during this time and for your continued support while we grow! " Its insulting to ask if I am still experiencing difficulties, and it's more then once that they send this message, each time I reply back YES but they only send em another Olaf Excuse. WTF. Seriously, it's been over a month now and you can't find the time to direct some support person to my issue? Jerks. They aren't trying to insult you. They get a lot of spam request do they occasionally send this out Nd if you reply to it then they know tag you ate real and need your problem solved. Title: Re: COINBASE - Serious Issue - Reversing Bank Deposits, erroneous withdrawals, etc.. Post by: patricktim on January 15, 2014, 08:25:29 AM I am trying to contact Coinbase about withdrawal haven't gotten a reply yet.
Title: Re: COINBASE - Serious Issue - Reversing Bank Deposits, erroneous withdrawals, etc.. Post by: nahtnam on January 15, 2014, 03:49:31 PM I am trying to contact Coinbase about withdrawal haven't gotten a reply yet. Same here. They randomly took out 0.08 out of my account and I want to know why. Title: Re: COINBASE - Serious Issue - Reversing Bank Deposits, erroneous withdrawals, etc.. Post by: bittydude on January 15, 2014, 05:18:35 PM i was going to take my 500btc/120day volume to the coinbase outfit instead of virtex...nope! sticking with my guys in me homeland.
Title: Re: COINBASE - Serious Issue - Reversing Bank Deposits, erroneous withdrawals, etc.. Post by: FiatKiller on January 15, 2014, 08:41:35 PM Thanks for the heads-up to watch them. I recently signed-up and did two buys. No issues yet.
Are they the only site that can do ACH transfers so far? Title: Re: COINBASE - Serious Issue - Reversing Bank Deposits, erroneous withdrawals, etc.. Post by: crazy_rabbit on January 16, 2014, 09:46:06 AM Got an email from support this morning:
"JAN 16, 2014 | 09:19PM PST Alex replied: Hi there, Thanks for alerting us to this problem! It appears that the ACH credits on your sell of 1.00 BTC for $586.72 were sent out twice in error. In response, our system initiated a debit to correct the duplication. When this debit of your bank account was reversed due to insufficient funds (R01), the system reclaimed 1.00 BTC from your Coinbase balance instead (OC977Q2O). Thanks again for bearing with us on this!" Get that? So not only did they debit my account without telling me, (incurring a overdraft fee that I have to pay and coinbase still doesn't look like they will take responsibility for), they then "RECLAIMED" 1BTC from my coinbase balance instead. I'm furious. I've written the CEO Brian with the hopes of getting a response, but so far, I'm just so angry. None of this stuff was listed in my transaction history (at least at the time) and there was no communication from them it was going on. Title: Re: COINBASE - Serious Issue - Reversing Bank Deposits, erroneous withdrawals, etc.. Post by: nahtnam on January 16, 2014, 03:26:52 PM Got an email from support this morning: "JAN 16, 2014 | 09:19PM PST Alex replied: Hi there, Thanks for alerting us to this problem! It appears that the ACH credits on your sell of 1.00 BTC for $586.72 were sent out twice in error. In response, our system initiated a debit to correct the duplication. When this debit of your bank account was reversed due to insufficient funds (R01), the system reclaimed 1.00 BTC from your Coinbase balance instead (OC977Q2O). Thanks again for bearing with us on this!" Get that? So not only did they debit my account without telling me, (incurring a overdraft fee that I have to pay and coinbase still doesn't look like they will take responsibility for), they then "RECLAIMED" 1BTC from my coinbase balance instead. I'm furious. I've written the CEO Brian with the hopes of getting a response, but so far, I'm just so angry. None of this stuff was listed in my transaction history (at least at the time) and there was no communication from them it was going on. You are very lucky and unlucky. You are lucky because atleast you got a reply, but unlucky because it didnt get solved. Title: Re: COINBASE - Serious Issue - Reversing Bank Deposits, erroneous withdrawals, etc.. Post by: Rygon on January 16, 2014, 04:17:12 PM Got an email from support this morning: "JAN 16, 2014 | 09:19PM PST Alex replied: Hi there, Thanks for alerting us to this problem! It appears that the ACH credits on your sell of 1.00 BTC for $586.72 were sent out twice in error. In response, our system initiated a debit to correct the duplication. When this debit of your bank account was reversed due to insufficient funds (R01), the system reclaimed 1.00 BTC from your Coinbase balance instead (OC977Q2O). Thanks again for bearing with us on this!" Get that? So not only did they debit my account without telling me, (incurring a overdraft fee that I have to pay and coinbase still doesn't look like they will take responsibility for), they then "RECLAIMED" 1BTC from my coinbase balance instead. I'm furious. I've written the CEO Brian with the hopes of getting a response, but so far, I'm just so angry. None of this stuff was listed in my transaction history (at least at the time) and there was no communication from them it was going on. I'm having a hard time following what the issue is here. Is the only issue an insufficient funds fee that the OP had to pay? And why did that happen if the debit came a week after the credit? Shouldn't the bank be at fault for not processing the debit correctly? Clearly the debit was just a reversal of the previous credit. Title: Re: COINBASE - Serious Issue - Reversing Bank Deposits, erroneous withdrawals, etc.. Post by: bittydude on January 16, 2014, 05:53:09 PM Got an email from support this morning: "JAN 16, 2014 | 09:19PM PST Alex replied: Hi there, Thanks for alerting us to this problem! It appears that the ACH credits on your sell of 1.00 BTC for $586.72 were sent out twice in error. In response, our system initiated a debit to correct the duplication. When this debit of your bank account was reversed due to insufficient funds (R01), the system reclaimed 1.00 BTC from your Coinbase balance instead (OC977Q2O). Thanks again for bearing with us on this!" Get that? So not only did they debit my account without telling me, (incurring a overdraft fee that I have to pay and coinbase still doesn't look like they will take responsibility for), they then "RECLAIMED" 1BTC from my coinbase balance instead. I'm furious. I've written the CEO Brian with the hopes of getting a response, but so far, I'm just so angry. None of this stuff was listed in my transaction history (at least at the time) and there was no communication from them it was going on. When a unregulated company is using your account as a piggy bank, get the hell out. Title: Re: COINBASE - Serious Issue - Reversing Bank Deposits, erroneous withdrawals, etc.. Post by: newts on January 24, 2014, 12:55:25 PM I have been having good luck with Coin Base. They are slow but the only alternative is btQuick and you have to give so much personal info to regester it is scary. Coinbase just gets access to your checking account which BitQuick gets access to you banking accoung web account (savings etc.)
At first Coin Base really was a pain, but it you plan and only do one or two transactions per week it seems to work pretty well. Don't know what I would do without it actually. Title: Re: COINBASE - Serious Issue - Reversing Bank Deposits, erroneous withdrawals, etc.. Post by: nahtnam on January 24, 2014, 03:00:18 PM My issue recently got solved! :)
Title: Re: COINBASE - Serious Issue - Reversing Bank Deposits, erroneous withdrawals, etc.. Post by: newts on January 24, 2014, 04:07:37 PM My issue recently got solved! :) Yes I think they see that BtQuick is falling had and have a good change at corning the market, so the have their game hats on ;D Title: Re: COINBASE - Serious Issue - Reversing Bank Deposits, erroneous withdrawals, etc.. Post by: nahtnam on January 24, 2014, 05:41:48 PM My issue recently got solved! :) Yes I think they see that BtQuick is falling had and have a good change at corning the market, so the have their game hats on ;D If you need to get your ticket solved, you can just call them... Title: Re: COINBASE - Serious Issue - Reversing Bank Deposits, erroneous withdrawals, etc.. Post by: newts on January 24, 2014, 08:02:14 PM My issue recently got solved! :) Yes I think they see that BtQuick is falling had and have a good change at corning the market, so the have their game hats on ;D If you need to get your ticket solved, you can just call them... That's what I heard but I generally sleep when they are open. I understand you can do a transaction now without having to generate a service tickets. Its good to have competition, that's all I'm saying. Edit: I just checked and btquick is out of btc's AND you can't use your checking account. I guess as many problems people have with Coin Base, the ONLY alternative is much worse. This is to be expected when there is no real competition, either there isn't a profitable market for this sort of service or it is too new. But without being about to buy btc's from your checking account sitting at your computer I don't see the platform surviving. Title: Re: COINBASE - Serious Issue - Reversing Bank Deposits, erroneous withdrawals, etc.. Post by: nahtnam on January 24, 2014, 08:51:49 PM My issue recently got solved! :) Yes I think they see that BtQuick is falling had and have a good change at corning the market, so the have their game hats on ;D If you need to get your ticket solved, you can just call them... That's what I heard but I generally sleep when they are open. I understand you can do a transaction now without having to generate a service tickets. Its good to have competition, that's all I'm saying. Edit: I just checked and btquick is out of btc's AND you can't use your checking account. I guess as many problems people have with Coin Base, the ONLY alternative is much worse. This is to be expected when there is no real competition, either there isn't a profitable market for this sort of service or it is too new. But without being about to buy btc's from your checking account sitting at your computer I don't see the platform surviving. You are right. BTW the way, you can call them right now. Title: Re: COINBASE - Serious Issue - Reversing Bank Deposits, erroneous withdrawals, etc.. Post by: newts on January 24, 2014, 09:04:43 PM My issue recently got solved! :) Yes I think they see that BtQuick is falling had and have a good change at corning the market, so the have their game hats on ;D If you need to get your ticket solved, you can just call them... That's what I heard but I generally sleep when they are open. I understand you can do a transaction now without having to generate a service tickets. Its good to have competition, that's all I'm saying. Edit: I just checked and btquick is out of btc's AND you can't use your checking account. I guess as many problems people have with Coin Base, the ONLY alternative is much worse. This is to be expected when there is no real competition, either there isn't a profitable market for this sort of service or it is too new. But without being about to buy btc's from your checking account sitting at your computer I don't see the platform surviving. You are right. BTW the way, you can call them right now. And I guess that's what surprised me the most about BTC, the only reliable way to buy them is a 40 mile drive to quwickmart or walmart to buy an money pak or similar and HOPE you find a reputable seller on the internet, no commerce can survive long term liik that. We need serves like Coin Base and BTQuick to be reliable for BTC to survive. And no Well Fargo isn't open when I'm not working or sleeping. Title: Re: COINBASE - Serious Issue - Reversing Bank Deposits, erroneous withdrawals, etc.. Post by: nahtnam on January 24, 2014, 09:54:05 PM My issue recently got solved! :) Yes I think they see that BtQuick is falling had and have a good change at corning the market, so the have their game hats on ;D If you need to get your ticket solved, you can just call them... That's what I heard but I generally sleep when they are open. I understand you can do a transaction now without having to generate a service tickets. Its good to have competition, that's all I'm saying. Edit: I just checked and btquick is out of btc's AND you can't use your checking account. I guess as many problems people have with Coin Base, the ONLY alternative is much worse. This is to be expected when there is no real competition, either there isn't a profitable market for this sort of service or it is too new. But without being about to buy btc's from your checking account sitting at your computer I don't see the platform surviving. You are right. BTW the way, you can call them right now. And I guess that's what surprised me the most about BTC, the only reliable way to buy them is a 40 mile drive to quwickmart or walmart to buy an money pak or similar and HOPE you find a reputable seller on the internet, no commerce can survive long term liik that. We need serves like Coin Base and BTQuick to be reliable for BTC to survive. And no Well Fargo isn't open when I'm not working or sleeping. I wasnt talking about wells fargo. You can call Coinbase right now if you have any issues. On another note, some people are having issues with coinbase and they are fine with other exchanges. Each has its pros and cons and it all depends on what you prefer. Title: Re: COINBASE - Serious Issue - Reversing Bank Deposits, erroneous withdrawals, etc.. Post by: newts on January 24, 2014, 11:57:21 PM What I meant is without these exchanges (the whole 2 of them in NA) we have to leave work and find a wells Fargo to buy a bit-coin (or does that even work anymore?)
I think people underestimate the service these exchanges provide and without them IMHO I don't see much future for BTC. The investors in the exchange services see a gold mine, but the employees might not see the importance of their jobs, hence the subpar service. So it is important for issues ( like the OPer) to bring up the issues far up the help chain so the can get fixed. Title: Re: COINBASE - Serious Issue - Reversing Bank Deposits, erroneous withdrawals, etc.. Post by: sn1cklefr1tz on January 26, 2014, 04:09:55 AM Law STUDENT here. STUDENT, not lawyer. This is NOT LEGAL ADVICE. This is simply what I would do if I were being f'd around like you guys apparently are.
Don't hesitate. File complaints with your state's Attorney's General. Follow up with a demand letter. Give them 30 days to resolve the matter. Print out the emails that you received from coinbase indicating that it was their problem. Go in to your bank/credit union's branch manager. Show him/her said emails. Beg them to refund the NSF fees in the mean time. PROMPTLY file a small claims court civil action for all of your losses and add $1,000 for negligent infliction of emotional distress. You will not likely get the $1,000 but you will likely get their attention and your fees reimbursed. Good luck. Title: Re: COINBASE - Serious Issue - Reversing Bank Deposits, erroneous withdrawals, etc.. Post by: nahtnam on January 26, 2014, 04:10:54 AM Law STUDENT here. STUDENT, not lawyer. This is NOT LEGAL ADVICE. This is simply what I would do if I were being f'd around like you guys apparently are. Don't hesitate. File complaints with your state's Attorney's General. Follow up with a demand letter. Give them 30 days to resolve the matter. Print out the emails that you received from coinbase indicating that it was their problem. Go in to your bank/credit union's branch manager. Show him/her said emails. Beg them to refund the NSF fees in the mean time. PROMPTLY file a small claims court civil action for all of your losses and add $1,000 for negligent infliction of emotional distress. You will not likely get the $1,000 but you will likely get their attention and your fees reimbursed. Good luck. Thats funny. Emotional Distress :P Title: Re: COINBASE - Serious Issue - Reversing Bank Deposits, erroneous withdrawals, etc.. Post by: sn1cklefr1tz on January 26, 2014, 04:56:09 AM Thats funny. Emotional Distress :P Same disclaimer as stated in my previous post above applies. Emotional distress is no laughing matter. If you're harmed, you're entitled to compensation for damages. Sometimes those damages are emotional distress as evidenced by physical outbreak (rash, illness, etc) and/or visits to mental health professional(s). With the right lawyer, you could recover. A reasonable person having had their finances destroyed would certainly suffer this. Title: Re: COINBASE - Serious Issue - Reversing Bank Deposits, erroneous withdrawals, etc.. Post by: sn1cklefr1tz on January 26, 2014, 09:23:18 AM Who's the one that posted it now then, fool? I posted it in case they change it later on. Nail me to the cross, why don't you. Trolls.
Title: Re: COINBASE - Serious Issue - Reversing Bank Deposits, erroneous withdrawals, etc.. Post by: BawsyBoss on January 26, 2014, 04:49:08 PM coinbase.com I am sure that we can all find that out by ourselves. I don't see the need to post it here.Is this your domain name? Renew it now. ; This data is provided by InterNetworX Ltd. & Co. KG ; for information purposes, and to assist persons obtaining information ; about or related to domain name registration records. ; InterNetworX Ltd. & Co. KG does not guarantee its accuracy. ; By submitting a WHOIS query, you agree that you will use this data ; only for lawful purposes and that, under no circumstances, you will ; use this data to ; 1) allow, enable, or otherwise support the transmission of mass ; unsolicited, commercial advertising or solicitations via E-mail ; (spam); or ; 2) enable high volume, automated, electronic processes that apply ; to this WHOIS server. ; These terms may be changed without prior notice. ; By submitting this query, you agree to abide by this policy. ISP: InterNetworX Ltd. & Co. KG URL: www.inwx.de domain: coinbase.com created-date: 2012-05-18 updated-date: 2013-04-12 expiration-date: 2022-07-02 owner-id: 83770 owner-name: Coinbase, Inc. owner-street: 14525 SW Millikan Way #26680 owner-city: Beaverton owner-zip: 97005-2343 owner-country: US owner-phone: +1.4158431515 owner-email: domain@coinbase.com admin-id: 83770 admin-name: Coinbase, Inc. admin-street: 14525 SW Millikan Way #26680 admin-city: Beaverton admin-zip: 97005-2343 admin-country: US admin-phone: +1.4158431515 admin-email: domain@coinbase.com tech-id: 1 tech-organization: InterNetworX Ltd. & Co. KG tech-name: Hostmaster Of The Day tech-street: Prinzessinnenstr. 30 tech-city: Berlin tech-zip: 10969 tech-country: DE tech-phone: +49 30 66400137 tech-fax: +49 30 66400138 tech-email: hostmaster@inwx.de billing-id: 1 billing-organization: InterNetworX Ltd. & Co. KG billing-name: Hostmaster Of The Day billing-street: Prinzessinnenstr. 30 billing-city: Berlin billing-zip: 10969 billing-country: DE billing-phone: +49 30 66400137 billing-fax: +49 30 66400138 billing-email: hostmaster@inwx.de nameserver: sam.ns.cloudflare.com nameserver: sue.ns.cloudflare.com Title: Re: COINBASE - Serious Issue - Reversing Bank Deposits, erroneous withdrawals, etc.. Post by: nahtnam on January 26, 2014, 06:46:35 PM Yes. That information is not that hard to find. Their office is located in San Fransisco.
Title: Re: COINBASE - Serious Issue - Reversing Bank Deposits, erroneous withdrawals, etc.. Post by: 31337157 on January 26, 2014, 11:04:36 PM Thats funny. Emotional Distress :P Same disclaimer as stated in my previous post above applies. Emotional distress is no laughing matter. If you're harmed, you're entitled to compensation for damages. Sometimes those damages are emotional distress as evidenced by physical outbreak (rash, illness, etc) and/or visits to mental health professional(s). With the right lawyer, you could recover. A reasonable person having had their finances destroyed would certainly suffer this. Oh absolutely, I think people tend to look at a situation like this in a very singular manner like "on, it was just an overdraft charge" but, what about someone's monthly bills? What about the monthly rent the user was supposed to have in at the end of the month, but now is stuck with an empty account? People usually have a timed plan when it comes to exchanging and moving money around, it's not just done for fun so running into delays or trouble with that can cause a lot of distress. Tack a family onto all of that and it's a mess. Anyway, I hope that everything gets resolved without too many problems. It seems that once these startups can get over the growing pains we'll have a solid foundation to built up on. For now though, it is very stressful. Title: Re: COINBASE - Serious Issue - Reversing Bank Deposits, erroneous withdrawals, etc.. Post by: adeojo on February 06, 2014, 12:14:02 PM I had coins stolen from my account at coinbase.
2 out of 3 transactions that happened within a min was flagged by coinbase as highrisk, and was rightly cancelled by coinbase, the third where my coins were transferred was not. How can this be ? I sent several emails (via support) and requested them to call me or if there is a phone nos to call. No one called me and there is no phone nos to call. I got a few emails where they claim it was my fault, they say it was a phishing attack I am well aware of these kind of attacks. I have used other online services for years (with simple pw and no 2FA auth) - never had a cent lost. with coinbase , I had a very strong pw, 2FA auth, yet my coins were stolen. Any reputable company will have a phone nos you can call an speak to someone or at the least call you. some people on this forum have accused me of having an agenda - yes I do. I want to make sure no one else suffers same faith as me. PLEASE PEOPLE STOP USING COINBASE - THEY ARE NOT SECURE. Title: Re: COINBASE - Serious Issue - Reversing Bank Deposits, erroneous withdrawals, etc.. Post by: FiatKiller on February 06, 2014, 03:23:16 PM Never keep any significant amount online. Soon as you have a balance, grab them.
Title: Re: COINBASE - Serious Issue - Reversing Bank Deposits, erroneous withdrawals, etc.. Post by: nahtnam on February 06, 2014, 06:09:07 PM Hey guys. I just thought I should give you an update. I finally got all my issues solved and am as happy as can be.
Title: Re: COINBASE - Serious Issue - Reversing Bank Deposits, erroneous withdrawals, etc.. Post by: stex2009 on February 06, 2014, 11:33:24 PM Few days ago I remember my account turned off 2-FA (on it's own), when I always had 2-FA on my account. Today I see, it asks for the code again. It was a bit scary to see no 2-FA on my account, as my Bank account is directly linked.
Title: Re: COINBASE - Serious Issue - Reversing Bank Deposits, erroneous withdrawals, etc.. Post by: fcmatt on February 07, 2014, 02:46:23 AM Rabbit, i finally got around to trying out coinbase. My first sell went very well. Easy as could be. So i did a second and i imagine it will also go well. Did you get your problems resolved yet?
Title: Re: COINBASE - Serious Issue - Reversing Bank Deposits, erroneous withdrawals, etc.. Post by: tvbcof on February 07, 2014, 03:02:51 AM Got an email from support this morning: "JAN 16, 2014 | 09:19PM PST Alex replied: Hi there, Thanks for alerting us to this problem! It appears that the ACH credits on your sell of 1.00 BTC for $586.72 were sent out twice in error. In response, our system initiated a debit to correct the duplication. When this debit of your bank account was reversed due to insufficient funds (R01), the system reclaimed 1.00 BTC from your Coinbase balance instead (OC977Q2O). Thanks again for bearing with us on this!" Get that? So not only did they debit my account without telling me, (incurring a overdraft fee that I have to pay and coinbase still doesn't look like they will take responsibility for), they then "RECLAIMED" 1BTC from my coinbase balance instead. I'm furious. I've written the CEO Brian with the hopes of getting a response, but so far, I'm just so angry. None of this stuff was listed in my transaction history (at least at the time) and there was no communication from them it was going on. So do I have this about right: - Coinbase double-paid you for a sale (and I know others who were similarly impacted by this bug.) - You said nothing about it, but spent all the money or transferred it out of your linked bank account. - Coinbase tried to reclaim the money the overpaid you via ACH, but it failed because you had taken evasive action. - Coinbase took BTC instead since you were not, apparently, fast enough to close off that avenue. - You whined bitterly about it on the forum, but somehow neglected to mention the fairly important detail about the double-pay. If that's about the size of it, I've lost more than a little respect for you. FWIW, anyone who double-paid me would hear about it from me and as soon as I discovered the error. This is not idle conjecture. I've done it in every such situation. It just saves everyone a lot of grief and I'm in no worse shape than when I started out. Title: Re: COINBASE - Serious Issue - Reversing Bank Deposits, erroneous withdrawals, etc.. Post by: nahtnam on February 07, 2014, 03:04:19 AM Got an email from support this morning: "JAN 16, 2014 | 09:19PM PST Alex replied: Hi there, Thanks for alerting us to this problem! It appears that the ACH credits on your sell of 1.00 BTC for $586.72 were sent out twice in error. In response, our system initiated a debit to correct the duplication. When this debit of your bank account was reversed due to insufficient funds (R01), the system reclaimed 1.00 BTC from your Coinbase balance instead (OC977Q2O). Thanks again for bearing with us on this!" Get that? So not only did they debit my account without telling me, (incurring a overdraft fee that I have to pay and coinbase still doesn't look like they will take responsibility for), they then "RECLAIMED" 1BTC from my coinbase balance instead. I'm furious. I've written the CEO Brian with the hopes of getting a response, but so far, I'm just so angry. None of this stuff was listed in my transaction history (at least at the time) and there was no communication from them it was going on. So do I have this about right: - Coinbase double-paid you for a sale (and I know others who were similarly impacted by this bug.) - You said nothing about it, but spent all the money or transferred it out of your linked bank account. - Coinbase tried to reclaim the money the overpaid you via ACH, but it failed because you had taken evasive action. - Coinbase took BTC instead since you were not, apparently, fast enough to close off that avenue. - You whined bitterly about it on the forum, but somehow neglected to mention the fairly important detail about the double-pay. If that's about the size of it, I've lost more than a little respect for you. FWIW, anyone who double-paid me would hear about it from me and as soon as I discovered the error. This is not idle conjecture. I've done it in every such situation. It just saves everyone a lot of grief and I'm in no worse shape than when I started out. Wow, if you put it this way, its rabbit's fault. Title: Re: COINBASE - Serious Issue - Reversing Bank Deposits, erroneous withdrawals, etc.. Post by: tvbcof on February 07, 2014, 03:26:02 AM Wow, if you put it this way, its rabbit's fault. I'm not sure what I find more annoying: - Companies (so-called) who feel like they are so far above their customers that they don't have to trouble themselves with updates, explanations, equal treatment (e.g., personal identification), etc. - Customers who feel that they are positioned such that if by some accident of fate they end up on the winning side of an accident they have the God-given right to any positives but don't have any obligation to shoulder the slightest negative or inconvenience. Shit happens. Really. I'm not going to preach to people, but it certainly works better for me to just be straight up and try to solve problems in a fair way. That doesn't mean getting walked on if I'm wronged, but most accidents in the real world are exactly that. Accidents. Maybe not so much in Bitcoinland however. Title: Re: COINBASE - Serious Issue - Reversing Bank Deposits, erroneous withdrawals, etc.. Post by: nahtnam on February 07, 2014, 03:28:46 AM Wow, if you put it this way, its rabbit's fault. I'm not sure what I find more annoying: - Companies (so-called) who feel like they are so far above their customers that they don't have to trouble themselves with updates, explanations, equal treatment (e.g., personal identification), etc. - Customers who feel that they are positioned such that if by some accident of fate they end up on the winning side of an accident they have the God-given right to any positives but don't have any obligation to shoulder the slightest negative or inconvenience. Shit happens. Really. I'm not going to preach to people, but it certainly works better for me to just be straight up and try to solve problems in a fair way. That doesn't mean getting walked on if I'm wronged, but most accidents in the real world are exactly that. Accidents. Maybe not so much in Bitcoinland however. So, I think we got this issue solved. Is the customer fault for assuming he should always get the good side. To be more specific: Quote Customers who feel that they are positioned such that if by some accident of fate they end up on the winning side of an accident they have the God-given right to any positives but don't have any obligation to shoulder the slightest negative or inconvenience. Title: Re: COINBASE - Serious Issue - Reversing Bank Deposits, erroneous withdrawals, etc.. Post by: fcmatt on February 07, 2014, 04:00:26 AM After reading the last few posts i am not even sure where the problem is now. Does coinbase owe him money or the other way around... And it also appears the double pay was for different amounts? Some of the first post bank info is blacked out.
Title: Re: COINBASE - Serious Issue - Reversing Bank Deposits, erroneous withdrawals, etc.. Post by: nahtnam on February 07, 2014, 04:49:26 AM After reading the last few posts i am not even sure where the problem is now. Does coinbase owe him money or the other way around... And it also appears the double pay was for different amounts? Some of the first post bank info is blacked out. Here is what happened. Coinbase accidentally double paid for the transaction. All the balance was removed from his bank account. Coinbase was then looking to get the 1/2 of the money back from the bank (since it was a double pay). The bank account was empty. Then it just took 1btc (which is 1/2 of the transaction in bitcoins) and now he is complaining. (He spent the other btc) Title: Re: COINBASE - Serious Issue - Reversing Bank Deposits, erroneous withdrawals, etc.. Post by: russokai on February 07, 2014, 07:37:08 AM CONbase has stolen money from me on a few occasions. I am done with them.
Title: Re: COINBASE - Serious Issue - Reversing Bank Deposits, erroneous withdrawals, etc.. Post by: Olaf (Coinbase) on May 07, 2014, 09:30:09 PM Hello, Olaf from Coinbase here.
I just saw this thread. I'm extremely sorry for the trouble people here experienced using our site! I believe some of these problems stemmed from our slow customer support during the November/December time frame. We were swamped with the 10-fold price increase. We now have a much larger team - I want to address any outstanding problems. Please let us know! PM me or email support@coinbase.com - I want to work out any issues anyone is encountering. Again, I'm sorry for any problems that occurred during the price run up. Let us know what we can do. |
