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Author Topic: Coinbase Scam  (Read 5923 times)
kenerwin88
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April 02, 2013, 11:32:58 PM
 #1

Hi Everyone,

I have been obtaining bitcoins through Dwolla --> Mtgox and Coinbase.  Recently because I could lock in the price with Coinbase, I started using them more.  I locked in a purchase at $90 per coin, which is obviously worth much more now.  It was supposed to clear today, and today right before it cleared, I received an email saying the following:

"Unfortunately, we have decided to cancel this order because it appears to be high risk. We do not send out any bitcoins on high risk transactions, and you will receive a refund to your bank account in 3-4 business days.

Please understand that we do this to keep the community safe and avoid fraudulent transactions. Apologies if you are one of the good users who gets caught up in this preventitive measure - we don't get it right 100% of the time, but we need to be cautious when it comes to preventing fraud.

You may have more luck trying again in a few weeks. Best of luck and thank you for trying Coinbase.

Kind regards,
The Coinbase Team"

To me, this is very convenient, as the coins are worth much more now.  I had already purchased several coins before from them without issue (however they had not gone up in value nearly as much).  After having my funds locked up from March 28, until today April 2nd, I now have to wait for it to be refunded so that I can slowly transfer it into Mtgox via Dwolla. 

I just wanted to warn anyone else so they don't have the same problem.  Cry

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zedicus
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April 03, 2013, 01:13:11 AM
 #2

Man i got 1 more step before i get verified there.. i hope its not as bad as people say! !!

I just have to buy and wait 30 days.  for the last step..


You tried giving them a ring.. I assume they have a rather large load of crap that gets caught in filters and i cant imagine a human running through everything so maybe you just got caught in a net like it says.. Im trying to give them the benefit of the doubt here..

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kenerwin88
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April 03, 2013, 02:34:05 AM
 #3

You're probably right--I just felt pretty frustrated seeing my order cancelled.  I hope they get everything sorted out in the future, the interface is so much better than the rest.

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boscorocks
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April 03, 2013, 02:42:46 AM
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You're probably right--I just felt pretty frustrated seeing my order cancelled.  I hope they get everything sorted out in the future, the interface is so much better than the rest.

They are not a scam just not big enough for their britches and have pretty much come to a standstill from what I have seen. It says on their website that there is some algorithm that determines if a transaction is high risk. If you ever got a hold of them it might be straightened out eventually. 
Severian
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April 03, 2013, 02:57:55 AM
 #5

"Unfortunately, we have decided to cancel this order because it appears to be high risk.

There's a high risk they'll lose their shirts based on their business model so it's easier just to renege on deals instead.
zedicus
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April 03, 2013, 03:32:20 AM
 #6

You're probably right--I just felt pretty frustrated seeing my order cancelled.  I hope they get everything sorted out in the future, the interface is so much better than the rest.


I so understand my .. i wish there was (1) standup company with good people behind em that we could all get behind!

From purchasing gear to just storing your wallet or even trading.. its a bit of a mine field  ..

Not to just pick on them but Mtgox for example... i signed up only to give them sensitive info and not be able to complete the verification process!


Really, wells fargo, patelco, chase,  paypal even coinbase manage to easily verify my identity without having to send passport, drivers license, SSN number... and do it in a manner thats safe and convenient! But nooooo not mtgox!!!

REALLY, YOU GOTTA RE-CREATE THE WHEEL JUST FOR IDENTIFICATION!!! IF YOU GONNA RE-CREATE YOURE OWN WHEEL IT BETTER DAM WORK!!!

8000 people in que and they cant even reply to my dam email!!!

/rant but you know what i mean

If just even 1 company or group had their act together we could have some faith! Instead at the very site of something not working we are like , wait a minute is this a SCAM???



The whole scene is just breeding faulty *****.. we need people to stand out!



---

Nonetheless im sure if you gave em a ring they will sort ya out, tho you have lost you moment in time! Smiley



EDIT: Jeebus, i just read some post on reddit.. im treading carefully ..

Man can we get one company , just one!~
 

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..INVEST  ●  RENT  ●  TRADE..
  ✓Assurance     ✓Price Discovery     ✓Liquidity     ✓Low Fees





███
███
███
███
███
███





███
███
███
███
███
███
███
███
███
███
███
███

◣Whitepaper ◣ANN ThreadTelegram
◣ Facebook     ◣ Reddit          ◣ Slack


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