Coinbase users angry with customer support after funds disappear from accounts
coinbase is under fire for terrible customer service following reports of users’ accounts being hacked and drained of funds.
According to a Tuesday investigation by CNBC, thousands of customers across the country have lodged complaints against the company.
The outlet stated that it had interviewed numerous Coinbase customers who claimed hackers had drained their accounts, with the issue exacerbated by the exchange not responding to support requests:
“Interviews with Coinbase customers around the country and a review of thousands of complaints reveal a pattern of account takeovers, where users see money suddenly vanish from their account, followed by poor customer service from Coinbase that made those users feel left hanging and angry.”
One Coinbase client, Tanja Vidovic, claimed to have lost nearly all of her $168,000 in CRYPTOcurrency holdings after receiving a number of password change security alerts in April. Attempts to contact Coinbase by phone were fruitless, Vidovic said.
Another customer told the outlet that after logging in to the Coinbase app in March, almost $35,000 in various crypto assets had disappeared from their account. Coinbase’s Regulatory Response Team eventually emailed the victim stating that transactions on the blockchain are irreversible, adding that Coinbase’s insurance policy does not cover theft from individual accounts.
In March, The New York Times ran a piece on a helpless Coinbase customer who eventually sued the company after losing $100,000 worth of cryptocurrency.
Other Coinbase users have taken to social media to vent their frustrations. For example, popular analyst Kaleo told his 360,000 followers that the company had shown an “absolutely embarrassing display of care for customers.”
The tweet, which was posted less than a day ago, had already attracted a stream of responses from other Coinbase customers who had similar problems with support or had been hacked. Coinbase did actually respond to this complaint, but one individual pointed out that:
“You will only reply and assist people who have many followers so your reputation will not go down to hell! What about us？ 5 months with no help! Locked account!”
Another user on Twitter said, “I haven’t been able to get into my Coinbase account for almost 4 months now. The worst!”
In April, when the company went public, Coinbase CEO Brian Armstrong somewhat ironically told CNBC, “People no longer need to be scared of it [crypto] like in the early days.”
Coinbase users have filed more than 11,000 complaints against Coinbase with the United States Federal Trade Commission and Consumer Financial Protection Bureau since 2016, and the majority of them are related to customer service.
Article involves exchange
Bitcoin Global Legalization: A survey of countries that accept and reject Bitcoin.
Since the inception of Bitcoin in 2009 by the unknown founder popularly known as Satoshi Nakamoto, the march for its legalization as well as other cryptocurrencies had continued till this point. While some countries had officially legalized Bitcoin and accepts it as a legal tender, others rather reject and ban it. The rest tend to maintain a neutral approach of tolerating it without either banning nor legalizing it. The major reason for this has been that Bitcoin and other cryptocurrencies lacks regulation and centralization and hence, beyond the control of the government. However, there is a general vision that given the popularity of Bitcoin itself and other cryptocurrencies, more countries will in no distant time give an official approval and legalization of Bitcoin and Cryptocurrencies.
Dogecoin ranks number one by Google searches in the U.S
The original meme coin is still top according to research on Google searches conducted by Bacancy Technology.
Terra is preparing to burn more than 9% of the total LUNA supply
Burning almost 90 million LUNA in the community pool is expected to place upward pressure on the native token’s price.
Bitcoin (BTC) hashrate rose by over 30% since July. Here’s what it means.
Bitcoin mining hashpower as gone from a low of 103 EH/s to touching as high as 189 EH/s within the last 3 months.
- Token conversion
- Exchange rate conversion
- Calculation for foreign exchange purchasing
- Please enter the number
- Current Currency
- purchasing price
- Amount Required