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Lee C.

  • 1 Review
  • 12 Helpful Votes
  • 0 Thank Yous

Experience: Finance

Member since December 2013

  • Review

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1 Review by Lee

12/18/13
Coinbase is a fraud and I warn everyone not to trust them.

A couple of my friends started using Coinbase so I thought I would also give it a try. I purchased 3 bitcoins on a Saturday night. The website said that it would take 4 business days for me to receive my bitcoins so the bitcoins would be in my account by Friday. During that week the money was pulled out of my bank account for the bitcoins (a little over $2K). Friday came around and the transaction in my Bitcoin account said it was "complete" but there was not any bitcoins in my account.

I waited until Saturday to see if the bitcoins would appear in my account. Saturday morning at 8am there was still not any bitcoins in my account so I sent them a ticket to their support team about the issue. On Sunday I tweeted to them and my friend tweeted to them to see what was going on. On Monday I sent another ticket to their support team. Tuesday after noon rolls around and I still have not had any response to any of my tickets or tweets. During this time they have been tweeting so I know they are checking their account but ignoring my tweet.

So Tuesday night I wrote to them telling them that I was going to contact my bank that night to file a claim against them. They responded to that ticket within 9 minutes saying that they know that I paid for 3 bitcoins but there is a bug in their system and that is why I do not have my bitcoins.

It was obvious that they were checking the support emails but only responding when they are faced with a fraud claim to a bank.

Now they won't respond again and I still don't have any bitcoins. They have stolen over $2K from me and won't respond to me.

In response to Juan F. above, I completely agree with you. During this entire process Coinbase did not start responding to my support tickets until the price of BTC dropped below the price that I purchased the bitcoins for. When they weren't responding the bitcoins had gone up in price from what I purchased them for.

Do not trust this company!

Lee Has Earned 12 Votes

Lee C.'s review of Coinbase earned 11 Very Helpful votes

Lee C.'s review of Coinbase earned a Fraud Buster vote

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