Scam report Coinbase.com

[i_am_viral]

I intend to make something clear here.

I wouldn't do this for me as I would like to continue to resolve this in a civil matter.

but because Bitcointalk.org appears in Google search quite often,

and I am genuinely curious if I was the only one who made this mistake or rather ( unintended accident ) or something similar has befallen on someone using Coinbase.



Scam Report Format

Code:
What happened::

Sent Bitcoincash to Coinbase Bitcoin address

Scammers Profile Link:

Billionaire and philanthropist and CEO of Coinbase
https://twitter.com/brian_armstrong?s=09

Reference Link:


https://bitcointalk.org/index.php?topic=5137810.msg50837576#msg50837576

Amount Scammed:

10.5 Bitcoin cash

Payment Method:

Blockchain to Coinbase Bitcoin cash transaction

Proof of Payment:

1. Transaction hash/ID (only provide the URL to the transaction hash as our system is unable to process screenshots)
https://www.blockchain.com/bch/tx/69fd16f3c65b0ef0f97478ce911c1acc36cadc30ad5e56cbbdc95795aa041993
2. Recipient wallet address (and Destination Tag/Memo, if applicable)
pr994hajwtscfvgcprmak52czn95uyg6gu6kysfpcq
3. Type of cryptocurrency
Bitcoin cash
4. Amount of transaction
10.5
5. Date of transaction

2019.02.24, 19.08PM

PM/Chat Logs:


picture host

Additional Notes:


Now all this wouldn't quality as a Scam report if they wouldn't give back the Bitcoin cash and the Bitcoin cash would of stayed in my inaccessible address, but here is where things go wrong.

Coinbase was the only one who could of accessed that Bitcoin cash wallet and around 4 months later my Bitcoin cash address was accessed and emptied.

And all this wouldn't qualify a scam report against the CEO instead of their Coinbase employee,

but what if I'm not the only one, what if there are many people and they have stolen millions like that instead of doing the right thing and refunding their users ?

[AB de Royse777]

I think many old timers in the bitcoin community do not trust Coinbase after they licked some users' data in the recent time. So Coinbase already lost the reputation in the community.

Regarding your case, I think the problem here is sending the coins to a bitcoin address instead of a bitcoin cash address. Many big service providers do not take the risk of recovering funds however this can be done easily. But since they moved the coins already this creates the flag that ultimately they moved those funds then why not they gave the coins to you.

Anyway, good thing that you made it public and I hope many people will see it and avoid using Coinbase.

[The Cryptovator]

In this case, Coinbase getting advantage of user's mistakes. I don't know why peoples are using custodial/web wallets when they are dealing with big funds. Te fund is easily recoverable if they want. Few exchanges have recover opportunities in case funds send into a cross-chain like your case. Although it's your mistake, but they should resolve it if they are professional with their business. We can't do anything here, only Coinbase the one who could help you. Keep continue contact with their support and avoid such as dealing in the future. It would be a lesson for other users here.

Sorry for your loss.

[bob123]

What happened::

Sent Bitcoincash to Coinbase Bitcoin address

So.. you made the mistake.
You did not get scammed. You are the only one responsible for that.

They might help you out of goodwill, but they definitely aren't obliged to do so.

Te fund is easily recoverable if they want.

No, it isn't.
It might be easy for you and me. But it definitely isn't for such a company. Well.. it is possible, but it has its price.

There are strict security measurements. Not every person working for their support can access the private keys.
It is absolutely understandable that most of it is automated and only a handful of people have access to the funds (probably multisig only).

To be honestly, 2.5k$ might even not be worth their time required for that, depending on how many people are required and the security measurements (physical access, etc.) there.


A lot of exchanges do that, yes. At least above a specific amount and for a fee. But that is absolutely out of goodwill and you have no right to request that.

[Flagship11]

As much as Coinbase sucks you shouldnt call it a "scam".   Its your own fault.

Its on their terms

Going forward, we cannot guarantee that funds will be properly credited when one asset is sent to the address of a different asset. Please make sure that you only send funds to the specific deposit address displayed in your Coinbase account for the asset you are sending.

https://help.coinbase.com/en/coinbase/getting-started/general-crypto-education/bitcoin-cash-faq

[Jawhead999]

and I am genuinely curious if I was the only one who made this mistake or rather ( unintended accident ) or something similar has befallen on someone using Coinbase.

but what if I'm not the only one, what if there are many people and they have stolen millions like that instead of doing the right thing and refunding their users ?

No, there're another victim has a similar issues like you and both of them was unable to get the coins back.

1. Sent bitcoin to bitcoin cash wallet and havent received it
2. im an idiot/ need advice transfered from bittrex - bitcoin to coinbase BCH cash

I agree with @Flagship11 Coinbase is not scam, but its your fault. You need to be carefully read all terms and conditions before start using any service.

[AB de Royse777]

¬snip¬

After reading this post I edited my previous post a bit. It makes sense when considering the risk of handling the private keys but in this case Coinbase eventually moved the BCH which means they already exploited the addresses to get the BCH from there.

[Rikafip]

@i_am_viral You might wanna change the title of this topic, as its kinda misleading. You did the mistake, sending BCH to wrong address, and based on Coinbase Tos they are not obliged to sort that out for you. Don't get me wrong, I hope they sort that out for you and you get your money back, but in this case I don't think that Coinbase scammed you.

[i_am_viral]

¬snip¬

After reading this post I edited my previous post a bit. It makes sense when considering the risk of handling the private keys but in this case Coinbase eventually moved the BCH which means they already exploited the addresses to get the BCH from there.

+1 Respect for Royse777 who gets that they took the Bitcoin cash.

If the Coins would of stayed in that address than I would of never reopened the case.

If it's not a scam it's theft.

Changed the topic from scam to theft.

+ If it's not company policy and It was a single employee he would likely get fired from Coinbase.

[bob123]

After reading this post I edited my previous post a bit. It makes sense when considering the risk of handling the private keys but in this case Coinbase eventually moved the BCH which means they already exploited the addresses to get the BCH from there.

+1 Respect for Royse777 who gets that they took the Bitcoin cash.

If the Coins would of stayed in that address than I would of never reopened the case.

If it's not a scam it's theft.

Changed the topic from scam to theft.

I agree that seeing the BCH got accessed, but not refunded to you seems unethical.
But it definitely is not theft. You send them the coins yourself. And you are not obliged to receive them credited, since you sent them to a wrong address.

You can hope for them to show their goodwill. But you can't force them.


Additionally, just because the funds moved, it doesn't mean that a person accessed them.
It is very well imaginable that this happened automatically without intervention from any human. However, refunding should be relatively easy in that case.

That's definitely not how a company should act. But it is not illegal, and neither scam nor a theft.

+ If it's not company policy and It was a single employee he would likely get fired from Coinbase.

I doubt "a single employee" has access to the private keys.

[Lucius]

i_am_viral, if we look at the matter from a legal angle you made a mistake and Coinbase is not at all obliged to correct that mistake in any way. It is their right and rule that they have in their TOS, and you cannot fight against it legally.

What is certainly strange and unethical is that they took that money for themselves, although it would have been perfectly normal if they had returned it to you as the original owner. So I think you have every reason to be angry about this behavior, but still maybe Coinbase is not responsible for your BCH moving to another address since any miner can do that if you send BCH to SegWit BTC address.

I’m not saying this is the case, but if you sent BTC to a Coinbase SegWit address (and I see that you are here), this option should be considered as well.

Accidentally sent BCH to BTC address!

[i_am_viral]

Note that this was the kind of accident that I wasn't even AWARE that was made until Coinbase said so weeks later.

I personally though that I had sent Bitcoin cash to Bitcoin cash address,





@jawhead pointed out two others and one more in reddit.

One of them lost 300$ the other 15.000$ and have not searched further.

Within 24 hours there are 4 people with including me who's money Coinbase has.

Whether or not their wallets have been emptied or not is unknown,

But let's request Coinbase for data on every person who has ever made a similar accident on Coinbase.


------------------------
Now there are 3 questions.
___________________________

How many Coinbase users have done the same error ?

How much money is out there that can be reimbursed?

How can we request this Coinbase data from them ?

[bL4nkcode]

That's unfortunate, this case is a common mistake whatever wallet/exchange a user used. Though there are some instances that exchanges resolve such issue.
But what I observed is they only do that if the money is huge enough for them to take action like binance.

It takes time for them to recover your funds due security reasons. Most exchange writes their terms about this, and most of them doesn't care, it just like a donation for them.
But some exchange charge fees to recover and resolve such mistake.
Some charge a fixed fee such Bittrex and some charge a percentage of the total fund wrongly sent such coinexchange.

Hope things will be alright for you soon regarding this.

[i_am_viral]

That's unfortunate, this case is a common mistake whatever wallet/exchange a user used. Though there are some instances that exchanges resolve such issue.
But what I observed is they only do that if the money is huge enough for them to take action like binance.

It takes time for them to recover your funds due security reasons. Most exchange writes their terms about this, and most of them doesn't care, it just like a donation for them.
But some exchange charge fees to recover and resolve such mistake.
Some charge a fixed fee such Bittrex and some charge a percentage of the total fund wrongly sent such coinexchange.

Hope things will be alright for you soon regarding this.

They have a big list of declined single incidents,

so if they could they should take the time, gather data and reimburse every single individual in one mission.

Of course someone would be really disappointed if he/they had made other plans with the money....

[Finestream]

And all this wouldn't qualify a scam report against the CEO instead of their Coinbase employee,

They are just one, CEO and Coinbase employee are labeled as Coinbase as they all work for the company.
Maybe their internal control is weak and some people are abusing it, but that needs to be proven, besides, it was you who made a mistake by sending your Bitcoin cash to a bitcoin address. Maybe have more patience, I'm sure they'll recover that for you, but in case you are tired of waiting, this is a registered business, you can also find a way to sue the company.

but what if I'm not the only one, what if there are many people and they have stolen millions like that instead of doing the right thing and refunding their users ?

We will never know unless they will make an accusation, and I think only few would really make such mistake like yours.

[bob123]

You do realize that using cryptocurrencies means be your own bank..
And this includes securing funds as well as properly managing funds / being careful when sending funds.

You can not send BTC to an altcoin address or send altcoins to a BTC address without risking to lose everything.

[XmasJohn08]

Sorry for saying this but this thread is a waste of time   you should close it, read the FAq and Terms boy.
 
By the way where can I send 51200 DGB to get YFI? 1.1 please 

[i_am_viral]

Sorry for saying this but this thread is a waste of time   you should close it, read the FAq and Terms boy.
 
By the way where can I send 51200 DGB to get YFI? 1.1 please 

Not smart to call someone boy when that boy can take your head and smash it into Brian Armstrong's ass for stealing millions of dollars from hundreds of users

[btc_angela]

Sorry for saying this but this thread is a waste of time   you should close it, read the FAq and Terms boy.
 
By the way where can I send 51200 DGB to get YFI? 1.1 please 

Not smart to call someone boy when that boy can take your head and smash it into Brian Armstrong's ass for stealing millions of dollars from hundreds of users

This gives me a good chuckle,  It looks like there is a good example of as to what happen and the fault is in your end. Perhaps consider this as a lesson learned and check everything before doing any transactions, just move on, best of luck!

[XmasJohn08]

Not smart to call someone boy when that boy can take your head and smash it into Brian Armstrong's ass for stealing millions of dollars from hundreds of users

Not smart to do what you just did from the beginning! A boy will need help to take his toys back, a Man will act as a Man.