COINBASE - Serious Issue - Reversing Bank Deposits, erroneous withdrawals, etc..

[newts]

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.

[1715558345]

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[1715558345]

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[sn1cklefr1tz]

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.

[nahtnam]

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

[sn1cklefr1tz]

Thats funny. Emotional Distress

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.

[sn1cklefr1tz]

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.

[BawsyBoss]

coinbase.com
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

I am sure that we can all find that out by ourselves. I don't see the need to post it here.

[nahtnam]

Yes. That information is not that hard to find. Their office is located in San Fransisco.

[31337157]

Thats funny. Emotional Distress

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.

[adeojo]

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.

[FiatKiller]

Never keep any significant amount online. Soon as you have a balance, grab them.

[nahtnam]

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.

[stex2009]

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.

[fcmatt]

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?

[tvbcof]

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.

[nahtnam]

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.

[tvbcof]

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.

[nahtnam]

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:

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.

[fcmatt]

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.

[nahtnam]

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)

[russokai]

CONbase has stolen money from me on a few occasions.  I am done with them.