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Author Topic: Coinbase - Screwed for the Second Time  (Read 904 times)
theonewhowaskazu
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November 01, 2013, 09:33:38 PM
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Hi [email],

On Oct 28, 2013 you purchased [amnt] BTC via bank transfer for $[amnt].

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 your bank account will not be charged.

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

Let me explain the situation with my Coinbase account.

- I bought Bitcoins on a low, a significant amount lower than it is now.
- I have verified TWO bank accounts (obviously the account from which I made the supposedly "fraudulent" transaction), and even completed a transfer from the other one.
- I have verified my identity, with the same name as that on the bank account from which I just tried to complete the transaction which was canceled.
- I waited SEVEN DAYS
- The other bank account, with a different name than the one that I used to verify my account, that transaction went through fine.
- The difference? Last time, the Bitcoin price went DOWN. This time, the bitcoin price went UP.

Seriously, is there ANY legitimate reason for this to be occurring?

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Shallow
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November 03, 2013, 01:12:22 AM
 #2

Coinbase is known to do these things

TradeFortress
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November 03, 2013, 02:20:38 AM
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Seriously, is there ANY legitimate reason for this to be occurring?

The bottom line?

If you're unhappy with their unspoken business model, don't use it. Simple as that.
InwardContour
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November 03, 2013, 06:18:05 AM
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Seriously, is there ANY legitimate reason for this to be occurring?

The bottom line?

If you're unhappy with their unspoken business model, don't use it. Simple as that.

Exactly. I always thought their whole way of "reserving" and then screwing people in this fashion should have sent them down the tubes. Newbs love em though.

culexevilman
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Bitcoin is too valuable to be used as a currency


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November 03, 2013, 06:48:06 AM
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Seriously, is there ANY legitimate reason for this to be occurring?

The bottom line?

If you're unhappy with their unspoken business model, don't use it. Simple as that.

Exactly. I always thought their whole way of "reserving" and then screwing people in this fashion should have sent them down the tubes. Newbs love em though.

People have bad memorys...

Shallow
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November 03, 2013, 06:54:02 AM
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Seriously, is there ANY legitimate reason for this to be occurring?

The bottom line?

If you're unhappy with their unspoken business model, don't use it. Simple as that.

Exactly. I always thought their whole way of "reserving" and then screwing people in this fashion should have sent them down the tubes. Newbs love em though.
I think they one of the only exchanges available to US residents though

BitcoinWalker
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Keep Walking Around the BTC World


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November 03, 2013, 07:25:57 AM
 #7

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Seriously, is there ANY legitimate reason for this to be occurring?

The bottom line?

If you're unhappy with their unspoken business model, don't use it. Simple as that.

Exactly. I always thought their whole way of "reserving" and then screwing people in this fashion should have sent them down the tubes. Newbs love em though.
I think they one of the only exchanges available to US residents though
CampBX is still in business, they are less noticeable though.

theonewhowaskazu
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November 03, 2013, 04:44:18 PM
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Seriously, is there ANY legitimate reason for this to be occurring?

The bottom line?

If you're unhappy with their unspoken business model, don't use it. Simple as that.

Exactly. I always thought their whole way of "reserving" and then screwing people in this fashion should have sent them down the tubes. Newbs love em though.
I think they one of the only exchanges available to US residents though
CampBX is still in business, they are less noticeable though.

Then you're screwed by slippage if you're buying large amounts. Also verification with them is a huge pain.

ajw7989
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November 03, 2013, 08:02:37 PM
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Try emailing the support team. Some of them are not willing to work with you but Olaf who posts in this forum is very helpful and was able to give me the rate I locked in. Try PMing him. I was in your situation 2 weeks ago.
theonewhowaskazu
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November 03, 2013, 08:41:52 PM
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Try emailing the support team. Some of them are not willing to work with you but Olaf who posts in this forum is very helpful and was able to give me the rate I locked in. Try PMing him. I was in your situation 2 weeks ago.

Sent an email within an hour of receiving the email, been waiting 2 days for a response.

ajw7989
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November 03, 2013, 11:36:17 PM
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did you PM olaf on bitcointalk that is a much better way
axilla
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November 04, 2013, 08:51:46 PM
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This exact thing just happened to me.. I've made many purchases price goes up. Cancelled because of fraud.. Amazingly they white listed me, apologized,and never offered to honor said price.. Asked them how to remove all trace of my bank information and close my account.. Still have yet to hear back... Crooks... Stay far away from coinbase.

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axilla
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November 05, 2013, 06:02:32 PM
 #13

Still no word from coinbase.. They've gone back to ignoring me.. Everyone needs to see what kind of company coinbase really is.

Growth-O-Matic Grow your business, and increase brand awareness | While everyone else delivers your news to the wire, hoping it gets picked up, we put your press release in front of the eyes of the top bloggers, writers, and decision makers in your industry.
theonewhowaskazu
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November 05, 2013, 06:22:13 PM
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did you PM olaf on bitcointalk that is a much better way

Thanks for the help, I PM olaf, get a response within 24 hrs, I email Coinbase, 4 days and counting, no response.

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