Notorious Coinbase holding my bitcoins in name of 'Review' | Be careful

[Wexnident]

Try tagging them somewhere other than their customer support? Idk if they have a twitter or Facebook, but you can try looking out for them. Even an email could be tried. Well, even with that they won't answer, I guess you can't really do anything about it, they have your wallet locked after all. Possibly trace the coins that came from your wallet that was sent somewhere else, coinbase might, just might, have seen something odd or weird in the recipients, and if yes, well you can coordinate with them to speed up the process.

so transfer smaller amounts into coinbase then to bank account is the lesson?

whats a reputable alternative to get funds from exchange ---> bank account other than coinbase?

The lesson learned is not to use coinbase as a wallet, or any other exchange for that matter. You can just use it as a medium to buy and sell your coins, but after that, immediately move it to your non-custodial wallet so that no one can actually lock you out of your funds.

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[Sparrow96]

I am also a verified user of Coinbase. I have been using Coinbase since 2014. In June, this year when I logged in my account after a long time. I see the banner that my account is under review. They said it will be fixed in a few days. After 4/5 months the account is under review. They only give robotic reply, nothing else. I am unable to transfer and receive bitcoins. So, I moved to non-custodial wallets fully. I believe custodial wallet no more. I also suggest you to move from Coinbase to any non-custodial wallet.

How did you move your coins to non-custodial account while their 'Review' is on going?  So, after 4/5 months your account is still under review and all funds are unusable?

The fund became unusable. I am unable to receive and send bitcoins in that account. The fund there can't be transferred it's locked there. I have forgot about this. I was using Blockchain. Maximum fund was residing there. I have transferred them to non-custodial one. Coinbase fund can't be moved unless they remove the tag.
Maybe the same will happen to you. Your account might not get rid of the tag. Coinbase is doing some fishy here.

[Bitstar_coin]

I am with coinbase for several years. I am fully verified user. As we see BTC is now at ATH for this year, my plan was to sell the btc now and buy back later. Before doing that I was planning to bring some more BTC from other exchanges in coinbase and then sell all together.  After transfer is completed I was ready to sell.

But before that all on a sudden yesterday coinbase sent me this status " Account under review Your account is currently being reviewed and we need some time to verify your info. During this review, you won't be able to use Coinbase. Reviews generally take a few days, so sign in every day or two to check your status."

I am fully verified so, no idea why on earth they are doing this. I sent them email and got a copy past reply!  If you remember coinbase did similar kind of things on last bull run on 2017 when their webpage was just went down at the time when BTC was hitting $20k. I couldn't cash the opportunity back then because of this. Now in this bull-run they are doing so called 'Review' out of no where and hold my account. I can't buy/sell, or even transfer my btc to other exchange! No sure if coinbase is intentionally doing this during Bullrun!

I am fade-up with coinbase and will transfer all my balances to another exchange as soon as it is sorted. 

I just thought I will  make everyone aware of this so that you also don't fall for this crap at time when you need to sell/buy to grab the opportunity.

You can't conclude that what is happening to you now is similar to what happened in last bull run, and have you find out if thus is happening to other people as well or just only you,
If you are fully verified and don't use the account frequently,  why would they place it under review! There is more to this,
Anyways, I don't use coinbase but for those who have account with them should be aware.

[Josefjix]

This puts the potential trader in a state of dilemma, what might have triggered the suspension? Did you log your account in a new device recently? Did you give someone else your account he/she might have violated some T&C? Did you perform a live chat with the customer care unit? Or they don't have like Binance? Some centralised exchanges had better realised the meaning of "Decentralization" Bitcoin was trying to bring, why locking an account without any reason given? What makes your different from a banking institution? They'll likely unlock it when they get to see reactions on this thread.

[Fundamentals Of]

Coinbase has this stain already in their track record. They have a lot of negative feedback and this is one of them. So you have heard of it already most probably because you have been using their services for some time. This is a reminder for you to take caution when using this exchange.

For now, since you still have some Bitcoin in your hardware wallet, you could either wait for Coinbase's finding and sell or sell for now if you have a definite price to stick to and then withdraw your Bitcoin from Coinbase as soon as you are allowed to. And leave this exchange for good. Also, if possible you better sell Bitcoin using other means aside from centralized exchanges.

[momchilandonov]

Coinbase like to ban accounts without reasons. People say the same about paypal. And despite of it, a lot of people are going to buy crypto there and after it we will see much more threads like this

[ranochigo]

Coinbase and any other exchanges are probably not evil and don't want to prohibit you from trading unless they have to. What do they stand to gain and losing out on the fees by doing so? The main factor here involves the government since most of them are supposed to be compliant with the local laws and that they have to err on the side of caution for many of the accounts; I've seen Coinbase accounts being banned for it's linked to tainted coins and Binance accounts getting blocked for using CoinJoin.

Honestly, I don't trust most of the exchanges with my coins and would rather use P2P platforms but in your case, it certainly isn't possible The only applicable advice for you is to use exchanges which aren't known to block accounts and sell it there. I don't get why would you continue to use Coinbase, they're really good at going down during price peaks 

[pixie85]

Coinbase like to ban accounts without reasons. People say the same about paypal. And despite of it, a lot of people are going to buy crypto there and after it we will see much more threads like this

The problem is that any ban should mean they will not provide any exchange services to you but should allow you to withdraw or at the very least send coins to an address they came from. That second option would suck for people who used coinbase address to withdraw from other services like online gambling sites but would be at least partially fair.

Stealing client funds is never the right way. I stopped using them a while ago after reading of people who had similar beefs with them.

[Becky666]

Why not store your btc in a wallet that's not an exchange and when you need to trade or sell, you'll transfer the sum you want to sell into the exchange website. That is safer.

Basically, Coinbase cryptocurrency exchnage is safe honestly, am a Coinbase user for sometime now and have been very much happy with their services' What OP tried to explained should be a user who actually violate Coinbase exchnage ToS, If this is not the case then he should contact the support team which could lead to his account recovery, to be realistic, for Coinbase to get hold onto an account with funds come with outright violation of their Terms Of Services.

[btcwish1]

Why not store your btc in a wallet that's not an exchange and when you need to trade or sell, you'll transfer the sum you want to sell into the exchange website. That is safer.

Basically, Coinbase cryptocurrency exchnage is safe honestly, am a Coinbase user for sometime now and have been very much happy with their services' What OP tried to explained should be a user who actually violate Coinbase exchnage ToS, If this is not the case then he should contact the support team which could lead to his account recovery, to be realistic, for Coinbase to get hold onto an account with funds come with outright violation of their Terms Of Services.

As I mentioned in my post, all I did was sent some btc from my another exchange to coinbase so that I can sell all together. I did same thing many times before. There is no violation whatsoever. Also I raised the support ticket and as most of people know their support is full of crap. I asked 'WHY' my account is under review after 4 years of being a fully verified user.  Their reply was 'Your account is currently under review and it should take few days bla bla' a copy paste crap reply.  The don;t have live chat or a phone number. the number they have is for automated account closure in case of fraud and that's it. You can't get an explanation from a human being. 

I don't know where they get the authority to hold user's fund? I can't transfer my coins to some where else, sell, withdraw or anything.

[celot]

I think you should waiting what the respond from support team, what going on need for re submit your KYC again. I see on coinbase rule have detected with some country not available for submit KYC and coinbase not allowed for any district country to use coinbase with many rule break before, like Indonesian have banned for submit KYC and have other country get the same cases. Very disappointed if you lost your assets in Coinbase and you need waiting their respond what happen on your coinbase account, during you not break their rule is not matter for coinbase to banned and not allowed to get back your fund.

[ReiMomo]

As I know, there are a few non-custodial wallets that are also Dex or they called open- source and can be used in selling but I haven't tried any of those as of the moment but you may try checking other exchanges that I guess meet your needs in the future after your concern with Coinbase.

I couldn't say that you were scammed since you mentioned that you've been with coinbase for years now and it only happens every time we are near the ATH and the only thing I can suggest is for you to get in touch with the coinbase support desk and hopefully it will be fixed before the ATH and you will not miss this for the second time.

[btcwish1]

Try tagging them somewhere other than their customer support? Idk if they have a twitter or Facebook, but you can try looking out for them. Even an email could be tried. Well, even with that they won't answer, I guess you can't really do anything about it, they have your wallet locked after all. Possibly trace the coins that came from your wallet that was sent somewhere else, coinbase might, just might, have seen something odd or weird in the recipients, and if yes, well you can coordinate with them to speed up the process.

so transfer smaller amounts into coinbase then to bank account is the lesson?

whats a reputable alternative to get funds from exchange ---> bank account other than coinbase?

The lesson learned is not to use coinbase as a wallet, or any other exchange for that matter. You can just use it as a medium to buy and sell your coins, but after that, immediately move it to your non-custodial wallet so that no one can actually lock you out of your funds.

They don't have any other way of communication apart from crappy support ticket even which they don't reply!  My plan was exactly that as you said to not use coinbase apart  from buy/sell. I just wanted to sell and boom.. before that they put me on 'review' after being a verified users for many years! such a pathetic piece of crap. I don't understand who gave them the authority to hold users money as ransome. someone should do something about this. even if someone violates their so called toc, they shouldn't have the authority to hold the fund!

[Lucius]

I don't understand who gave them the authority to hold users money as ransome. someone should do something about this. even if someone violates their so called toc, they shouldn't have the authority to hold the fund!

They run their business in accordance with US law, and if you want to complain about the methods of their business then you need to contact those who have given them business licenses. Consequently, if you are a US citizen you should contact FinCENo or perhaps the SEC and complain about the proceedings Coinbase is taking against you - and if you are outside the US you should probably contact your local service which has approved Coinbase to provide services in your country.

I sincerely doubt anything can change, Coinbase is too big and too powerful at the moment and can do whatever they want - it's a US based company after all.

[avikz]

Coinbase made it clear long time ago that they have a data sharing mechanism with IRS. So if your existing bitcoin holding pattern doesn't match with your tax status and income details, Coinbase has the full authority to review your bitcoin and report to the appropriate tax authorities. So with Coinbase, you are pretty much holding a bank account which is visible to the authorities of US.

So it brings us to the conclusion that - "Not your Keys, not your bitcoin"! Try using a desktop bitcoin client from now onwards for better safety!

[seoincorporation]

Is a big mistake to use an exchange as a wallet, people must learn this because is easy for them to leave their coins and there are multiple risks on this move:

1.- If the exchange gets hacked you will lose your coins
2.- If your account gets hacked you will lose your coins
3.- If the exchange decide it them will take your coins

So, take this as a lesson and play it wisely the next time

[Silberman]

Why not store your btc in a wallet that's not an exchange and when you need to trade or sell, you'll transfer the sum you want to sell into the exchange website. That is safer.

Then your account is going to be frozen because of it suspicious activity, and I'm pretty sure that this is the case because I have read cases in the forum in which people have accounts in different exchanges and for the most part their accounts do not present any kind of movement for months and then when they want to buy or to sell they just open their account, deposit their coins, sell them and then when they want to withdraw they are hit with that limitation.

[NotFuzzyWarm]

Coinbase in recent years has often had cases of user information. They were unreasonably suddenly inspecting and seemingly intending to possess the person's property. In my company, my colleague lost 12 Bitcoins at Coinbase due to inability to verify his identity, and support always refused user-provided information for no apparent reason.
So be careful when you put too much money on Coinbase, even if you have a 100% verified account.

The only time I have had an issue with KYC documentation was when using a low-resolution picture of your ID. It was probably 300-DPI which is the default for most cameras and scanners. You need to scan it at least 600-DPI so the security micro-printing on it can be clearly seen & read when the picture is viewed. Provide a high rez scan and they are happy.

Long ago I ran into this with Coinbase and in their support FAQ they had the info about resolution. I scanned at 1,200DPI and was it was accepted within an hour.

[LFC_Bitcoin]

Coinbase don’t just confiscate innocent peoples bitcoin or limit their accounts.

OP, you don’t have to answer here but ask yourself a few things.

• Are the coins in your wallet clean?
• Did you scam somebody?
• Have you used fake KYC docs to verify your account?
• Are you accessing Coinbase via VPN from a country where bitcoin is banned?
• Are you money laundering?
• Are you part of a crime syndicate?

Like I said Coinbase do not do this to people who aren‘t doing anything wrong or against their T&C’s.

[cryptoboss2020]

Coinbase don’t just confiscate innocent peoples bitcoin or limit their accounts.

OP, you don’t have to answer here but ask yourself a few things.

• Are the coins in your wallet clean?
• Did you scam somebody?
• Have you used fake KYC docs to verify your account?
• Are you accessing Coinbase via VPN from a country where bitcoin is banned?
• Are you money laundering?
• Are you part of a crime syndicate?

Like I said Coinbase do not do this to people who aren‘t doing anything wrong or against their T&C’s.

What about server downtimes??