Coinbase users are enraged with customer service after cash stolen from their accounts.
Customers are once again expressing their dissatisfaction with Coinbase's lack of customer service.
Following instances of user accounts being stolen and payments being siphoned, Coinbase has been chastised for poor customer care.
Thousands of customers around the country have filed complaints against the corporation, according to a CNBC investigation on Aug. 24.
According to the site, it spoke with a number of Coinbase clients who said that hackers had emptied their accounts, with the problem aggravated by the exchange's failure to reply to help requests:
Interviews with Coinbase consumers around the country, as well as an analysis of thousands of complaints, reveal a pattern of account takeovers, in which users' funds mysteriously vanish from their accounts, followed by poor customer service from Coinbase, leaving them feeling betrayed and outraged.
Tanja Vidovic, a Coinbase customer, claimed she lost virtually all of her $168,000 in cryptocurrency after receiving a series of password change security notifications in April.
Tanja said she tried calling Coinbase but couldn't get through.
Another user told the site that after login into the Coinbase app in March, his account had lost about $35,000 in various crypto holdings.
The victim was subsequently emailed by Coinbase's Regulatory Response Team, who said that blockchain transactions are irreversible and that Coinbase's insurance policy does not cover theft from individual accounts.
The New York Times published an article in March about a desperate Coinbase client who sued the business after losing $100,000 in cryptocurrency.
Other Coinbase users have resorted to social media to air their grievances, including popular analyst Kaleo, who informed his 360,000 followers that the business had displayed a "extremely shameful showing of caring for clients."
The tweet, which was only posted a day earlier, had already gotten a lot of attention from other Coinbase users who had similar issues with support or had been hacked.
Although Coinbase did reply to this concern, one person pointed out that:
“You will only respond to and support those who have a large following so that your reputation does not suffer! So, how about us? 5 months without assistance! Account has been locked!”
“I haven't been able to log into my Coinbase account in almost four months,” one user claimed.
It's the worst!”
Coinbase CEO Brian Armstrong told CNBC in April, when the company went public, that “people no longer need to be terrified of it [crypto] like in the early days.”
Since 2016, Coinbase users have submitted over 11,000 complaints with the Federal Trade Commission and the Consumer Financial Protection Bureau, the majority of which are about customer service.