Topic: Coinbase the next Mt Gox? (Read 1574 times)

Coinbase do really sucks. One month response from their support is very horrible. I would like to know the progress too and those being posted above about those issues. OMG that's quiet a lot already and I don't know if they are being resolved or not by coinbase team. This is really an indication that they will really becoming MT Gox  later on 

It's been a month. Any progress?

Finally after almost a month I got a response from Coinbase support today!
They said they will work to get me access to my account and funds. Will keep post updated with information.

$45,000 wire transfer missing from account
https://www.reddit.com/r/CoinBase/comments/6i2txw/over_45000_in_wire_transfers_not_showing_in_gdax/

Another customer locked out of account over a month with no response from support
https://www.reddit.com/r/CoinBase/comments/6i2y29/new_phone_number_and_cant_upload_id_to_verify/

More missing deposits from customers account
https://www.reddit.com/r/CoinBase/comments/6i2sm3/missing_deposits_from_coinbase/

Multiple customers have their accounts closed but are unable to withdraw funds
https://www.reddit.com/r/CoinBase/comments/6i09cq/coinbase_closed_account_unable_to_retrieve_funds/

Customer unable to withdraw 3.7BTC from his account:
https://www.reddit.com/r/CoinBase/comments/6hpdb8/earth_to_the_support_team_are_you_dead/

Account closed without explanation, customer unable to withdraw funds:
https://www.reddit.com/r/CoinBase/comments/6hpbcb/account_closed_no_explanation_or_response_from/

Paid for LTC but never received them:
https://www.reddit.com/r/CoinBase/comments/6hnodf/what_to_do_when_scammed_by_coinbase/

$5,000 withdraw missing no response from support after 3 weeks:
https://community.coinbase.com/t/5-000-withdrawal-missing-for-3-weeks-support-is-doa-help/19209

Sold Bitcoin on Coinbase but never received payment:
https://community.coinbase.com/t/sold-btc-to-coinbase-and-not-in-my-bank-account/19617


These are some of the many posts that are made every single day on the reddit forum and Coinbase community page.

I will continue to update, as I have been waiting 3 weeks unable to access my account and zero response from "support".
(Which apparently does not actually exist.)

This is why i don't trust centralized wallet, i actually used coinbase when i was newbie but now i don't use their service anymore, well coinbase is not good for storing your bitcoins since they can freeze or locked your account anytime they want specially if you're using their service and against their TOS.

Same thing happened to me, but there were only small amount on my account, they told me that i should provide my id in order to get my account back, well is it just me or.. i won't upload my identity even though for verification purpose, no thanks.

Same for me. I just changed my phone number a month ago. I sent already over 5 emails to them. Nothing.

I had only 0.06 in my wallet. I have sent the ID and everything.

I tried their automatically verification but suddenly stops with the message not available in your area even if I did that many times in the past..

Coinbase starts to look very strange..think more than one time before investing or deposit. There are plenty of wallets or opportunities to buy bitcoins by credit/debit cards worldwide

3 days in a row where site has gone down during the day.
You would think a company seeking evaluation as being worth a Billion dollars would be able to keep their site online.
Or hire support to actually answer tickets. (Still waiting 3 weeks to hear from support.)

DO NOT USE COINBASE IF YOU HAVE ANY OPTION OF ALTERNATIVE!
YOUR MONEY IS NOT SAFE WITH THIS COMPANY.

They have their struggles and I personally have disappointed in their services but I wouldn't go as far as calling them the next Mt Gox.

coinbase has been having some problems, but i don't see why anyone would think they will end up in a mt gox situation. I don't think any crypto exchange will end up in a mt gox situation, and certainly not coinbase. But they do need better customer service and need to work on some kinks in their software. They are currently working on raising a ton of new money so hopefully they'll hire a bunch new support people and developers to fix problems quicker.

My personal experience has mostly been perfectly positive, except this year when I decided to get back into bitcoin, after not having even visited coinbase in probably two years, the buying on my account was locked. And it took coinbase support literally like a month to finally fix it for me. They were emailing me back once a week or so, and finally one day got it all fixed. It was very annoying as I watched bitcoin price rise from $1100 to $1300 in April waiting for them to fix my account. Apparently it was just an account problem from changes they had made, sure seemed like the thing that shoulda been a 30 minute fix, though I guess if they were having many many problems like this I could been way down the list of people whose accounts they needed to fix.

Anyways other than that, and their site not being able to handle traffic a few times recently, they seem perfectly fine. I'm assuming their new funding should solve these issues in the future.

There are countless complaints about coinbase confiscating peoples money and never unlocking their account but they would point us out to their terms of conditions that you cannot use their wallet for gambling activities and they would show that one and would never release your funds which i think is outrageous and so is the reason i would avoid them.

I dont think soo,i have been using coinbase regularily since a long time,alomost 2-3 years now and i am still using it and login almost every day in my coinbase account.I never experienced any issue with coinbase and i still trust coinbase despite these rumours.

Coinbase is stealing peoples money, beware https://community.coinbase.com/t/payment-pending-we-are-still-waiting-for-funds-from-a-recent-payment-your-account-will-be-restored-as-soon-as-we-receive-funds/15230

there are countless forums where people's money is strait frozen, they cannot sell, they cannot buy, they cannot transfer, they cannot cashout. Effectively coinbase has stolen their money.

coinbase is a good wallet I think there's some issue but coinsbase fix that a soon as possible

Using coinbase from the start and never had any problem with it. As someone else said, it depends on which country you are in. Recently they started charging fees for transactions and many of the people complained about it. I hope they wont scam us in the future.

Yes, if you use freshly mined BTC or LTC, they really do not have much of a history. However, I could see someone acquiring their BTC from a small exchange that is lax on their AML and KYC policies. That person could be only a transaction or two away from a transaction that Coinbase deems "blacklist" worthy. Coinbase could interpret this as a feeble attempt to mix coins and suspend the account anyway.

They freeze accounts when they find that you are constantly using gambling sites/dark web sites. Although they let you withdraw without having to prove anything to them it's still a pain in the ass to see that your wallet is suspended.

If you have no issues, that's great. However based on the proof that have been posted on reddit and their own coinbase forum i think that it is entirely irresponsible for the support staff to just ignore them like that.

Maybe the user's at fault, but still, at least give a response.

hmmm.....I'm in the USA that may make a diff...anyway...just saying....they are mined LTC to BTC so the BTC address is in use...

but really , had no idea coinbase has a 'blacklist' on coin coming from gambling sites or whatever?

anyway, this is my experience.....just tossing it out there...I've no issues

If you recently mined them, they probably can never be traced to online gambling sites or questionable tor markets. So they wouldn't have any excuse to hold you up, probably.

Seems like you're right about this.

These are the exact same problems that all scam exchanges go through before they finally close down. Frozen accounts, locked funds, deposits and withdrawals not working on time etc. Worst of all, i just don't see why they are not answering to these requests for help at all. The least they could do in a difficult situation is to respond on the community site/via email to the victim.

Extremely unprofessional, if not an outright scam. Don't use them until all this is resolved.