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Author Topic: Coinbase defrauding customers, misleading !  (Read 4488 times)
almostmike
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November 18, 2013, 05:13:26 AM
 #21

I am starting to lose faith in this company. I don't know if Rees or Olaf will ever respond to me.  Sad
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justusranvier
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November 18, 2013, 06:44:36 AM
 #22

I don't know if Rees or Olaf will ever respond to me.  Sad
Try sending Olaf a message through this forum's PM system.
Jesterize
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November 18, 2013, 05:46:59 PM
 #23

Don't want to be just another "me too", but had to add my two cents.

Like everyone else that posted here, I had some transactions go through and some that did not. When my transaction did not go through, I sent a message to support (a very non-happy one). Surprisingly, they responded. It was the algorithm response that others have heard, but at least they responded. I replied with some suggestions on how to improve their service with better communication and an understanding of what it feels like from this end. Namely, they have my bank account info, my credit card info, my bit coin and my money, but yet they maintain that I'm the one that trying to do a fraudulent transaction. With all the info they have on me, what possible fraudulent activity could I be engaging in? Instead, one is left with the impression that they are fraudulent ones.

*sigh* I really want to like Coinbase because of the web plugin they have for merchant services. But if I am experiencing this, I don't want to subject my customers to it; so, for now, I am pulling it from my site.

P.S. I did PM Olaf last week and have not heard anything.
almostmike
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November 18, 2013, 07:33:26 PM
 #24

I PM'ed Olaf too last week and haven't heard anything.

Like you, Jesterize, I really want to like Coinbase (I used to love them) and was going to implement their merchant services on some client sites. But now I'm hesitant and won't move forward until further notice.

I hope they get things worked out for all of us, but as I said earlier, my faith in Coinbase is slipping.
nuffsaid420
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November 19, 2013, 04:36:16 AM
 #25

I sure am glad Olaf and the guys at CoinBase could come on over here and give their customers some relief from wondering what exactly is going on with their money..... o wait that was 4 days ago and he just gave a copy and paste response in here...

Coinbase.... continuing to base customers.
javaguardian
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November 19, 2013, 04:53:48 AM
 #26

Lol yea. Olaf isn't responding. Got my PM nuffsaid?
MPOE-PR
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November 20, 2013, 02:35:57 PM
 #27

I have no reason to believe they won't make things right for me, whitelist my account, and push my order through as the original exchange rate. Despite the stress of the situation (the opportunity cost of my canceled orders is big for me), I must be patient and not go off the rails as many people have. Coinbase seems to be lacking customer support power at this time, but that doesn't mean they aren't an honest, trustworthy company who will make things right if only we're patient.

Right, because

Coinlab/Coinbase/Coincrap - Multiple cases of stealing from users through the "canceling BTC sale when price goes up" scam, amplified by "pay anyone complaining on the forum" double-down. In any event their burn rate takes them out of the picture this year, so damage should be limited, but try and sit at a safe distance.

This doesn't make it any better than another Ycombinator failure.

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accord01
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November 20, 2013, 09:08:08 PM
Last edit: November 22, 2013, 12:44:19 PM by accord01
 #28

Trance,

Sorry for the confusion here. We use machine learning algorithms to prevent fraud and they're not always 100% accurate. If you feel you've had a transaction cancelled incorrectly send support an email. We regularly review transactions and push them through at the original purchase price upon request. I also wrote a bit about our fraud program in the fourth section here:

http://newsbtc.com/2013/11/07/coinbases-olaf-carlson-wee-answers-questions-users-technical-issues/

Hope that helps!

Really?  That's not what Rees told me:

I am extremely sorry for the confusion on this. I've taken further steps to review your account and at this point we've been able to get you whitelisted. Any future purchases you make from this point forward will not encounter this cancellation. Unfortunately, since the refund has already been sent out on these original purchases, I'm unable to push through or re-create the original transactions.

Again, I apologize for the frustration this has caused. If you need further assistance please let me know and I'll be happy to help!


You're not being honest Olaf.
opentoe
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November 21, 2013, 05:34:32 AM
 #29

Whitelist? Jesus, just to join the place they vette you like beocoming the president. You add a bank account and they make two small deposits which you need to confirm. Once that is done they should have NO reason to suspect anything is wrong, you just went through their process and passed. Same thing with a credit card. They make two small deposits. You confirm what they are and they confirm. Same thing with your phone. They call your phone with a pin# that you enter on the site. Now they have THREE ways they confirmed it is the correct person and yet they still select people as being fraudulent. What is this shit?

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dominicwin
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November 21, 2013, 05:41:11 AM
 #30

Whitelist? Jesus, just to join the place they vette you like beocoming the president. You add a bank account and they make two small deposits which you need to confirm. Once that is done they should have NO reason to suspect anything is wrong, you just went through their process and passed. Same thing with a credit card. They make two small deposits. You confirm what they are and they confirm. Same thing with your phone. They call your phone with a pin# that you enter on the site. Now they have THREE ways they confirmed it is the correct person and yet they still select people as being fraudulent. What is this shit?

Shady and disorganized

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knybe
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decentralize EVERYTHING...


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November 21, 2013, 06:47:44 PM
Last edit: November 23, 2013, 06:49:40 PM by knybe
 #31

Coinbase is a sham. I too was "vetted" by their system and was buying from them without incident until they forced the backup credit card scheme. Now they have numerously charged my backup credit card AND my bank account but yet canceled pending bitcoin purchases due to "high risk"?!!!?? Bullshit! more likely cancelled because they didn't like the lower price I bought at. At this point I consider it a HIGH RISK to buy from coinbase… They are getting too powerful in this supposedly decentralized arena of bitcoin. They are not even an exchange, the only reason everyone started using them is because they were the first that made your bank account available as a deposit source.
opentoe
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Personal text my ass....


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November 21, 2013, 09:33:43 PM
 #32

They do selectively scam people, that's a given. My deposit made it to my bank, but it was three days late. But where was that money in those three days? Who was using that money? Getting the possible interest on it? Next time I purchase bitcoin or sell bitcoin for that matter, I will maybe choose Dwolla. I'm confirmed and up to par there. Its too bad, because their system has the potential to be very good and be a bitcoin users dream....but instead of making things work and being a shining star of the bitcoin community they opt to choose shady practices and lousy service. Too bad.

O yea, the FORCEFUL action of making you add your credit card is pretty pathetic too. They basically tell you that you can't do anything with their service if you don't add your credit card and/or blood.

Be VERY careful when using this service and DO NOT store or hold ANY of your bitcoin there.

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defaced
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November 23, 2013, 01:53:40 AM
 #33

I dont want to say scam, ill just say.. not as honest as I would like.

The amount I clicked accept too was not the amount they charged me, the amount they charged me was more then what I agreed too and over drafted my account... made a support ticket and nada.

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applelover
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November 24, 2013, 01:27:36 AM
 #34

thanks i was gonna buy through them but dont anymore.  i hope they get more justice than the FTP owners did
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