Report: #1504232

Complaint Review: Coinbase, Inc - San Francisco CA

  • Submitted:
  • Updated:
  • Reported By: Rahila — Spring Hill FL United States
  • Coinbase, Inc 100 Pine St Ste 1250 San Francisco, CA United States

Coinbase, Inc Crypto Platform Coinbase employees stole over $500,000.00 from my account San Francisco CA

*Consumer Comment: I can help you

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Over $500,000.00 was stolen from my Coinbase account 3 months ago.

For more than a month Coinbase was misleading me by saying that someone â€‹stole my API key,​ created by me on July, 2018 to access my account and withdrew all the funds. But my API key has following permissions: “read”, “create”, “delete” account. It means if someone access to my account with my API key, he will not be able to trade (buy/sell) and withdraw at all (these buttons are inactive). I sent my API key with my permissions to Coinbase and asked them:

How could someone trade and withdraw about 80 times in only three hours  if icons are inactive? Or why Coinbase did not stop this action and block my account?

Coinbase did not respond to me. I opened Dispute (#03781413) with Coinbase and they supposed to write me in 2 weeks, but it is about a month I did not get from them any explanation.

Coinbase increased my withdrawal limit from $150,000.00 to $400,000.00 without my request. And I got approval-email after my account was robbed completely.

How could Coinbase approve such a high limit without my request when I remember that I could not get an approval even for $250.000? Coinbase lied to me when saying they got request from me but they could not to prove it so far.

For your information: if someone is stealing your money, he will never send any request because to get approval he must verify his location, 2FA phone, send a link for a LinkedIn account, send a Bank Statement and it takes about 2-4 days. I asked Coinbase send me all verifications for that request, but they could not provide me with any.

Coinbase deleted activity records from my account for the date of the robbery (IP access).

I can see that someone converted all my funds to 972 ETH and withdrew all of them. 25 times withdrawal was cancelled because it exceeds the $400,000 limit but still could withdraw $100,000 above that limit.

I remember I could not withdraw even $300 above the limit.

On my Transactions data Page I could see that someone did about 80 transactions from a Bogon (hidden, invalid) IP but in my Portfolio Coinbase deleted all unauthorized transactions on blockchain. But somehow they left 3 transactions only and I could see the funds were sent to the UK. Coinbase knows I'm a resident of the USA, I transferred all my money from the US Bank and I linked in Coinbase a US Bank Account only. How could Coinbase let someone send over half millions $$$ to the UK hidden way (smuggled out)? When I asked Coinbase about it, they deleted those 3 transactions also. 

Even my 2FA Authenticator is enabled on my phone all these transactions were without 2FA confirmation, only Coinbase could disable that function. All transactions were without email-withdrawal notification (Coinbase turned off that function as well).

 P.S. I notified Mr. Brian Armstrong (Co-Founder) & Mrs. Alesia Haas (Chief Financial Officer) regarding all above in emails but no response so far.

 What kind of Company is this if the employees are stealing money from the users and they do not do anything?

 Coinbase is responsible for a full refund because in the Coinbase Insurance Policy it is written: the insurance policy covers any losses from Coinbase’s hot storage resulting from a breach of Coinbase's physical security, cyber security, or by employee theft.


 But they do not follow their own rules and do not want to give me a refund. If Coinbase don’t want to solve this case I need a hire Fraud Crypto Lawyer and sue Coinbase.


This report was posted on Ripoff Report on 01/23/2021 03:21 PM and is a permanent record located here: https://www.ripoffreport.com/report/coinbase/san-francisco-ca-crypto-stole-1504232. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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#1 Consumer Comment

I can help you

AUTHOR: johnnie - (United States)

POSTED: Wednesday, January 27, 2021

 Please contact me and provide your contact info johnnycollect@yahoo.com thank you . I can help you

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