Coinbase is under fire for terrible customer service following reports that users’ accounts were hacked and depleted of funds.
According to an investigation conducted on August 24 by CNBCThousands of clients across the country have filed complaints against the company.
The outlet stated that it had interviewed numerous Coinbase clients who claimed that hackers had depleted their accounts, and the problem was exacerbated because the exchange did not respond to requests for support:
Interviews with Coinbase customers across the country and a review of thousands of complaints reveal a pattern of account hijacking, where users see money suddenly disappear from their account, followed by poor customer service from Coinbase that did. make those users feel hung up and angry.
A Coinbase client, Tanja Vidovic, claimed to have lost nearly all of her $ 168,000 in cryptocurrency holdings after receiving a series of password change security alerts in April. Attempts to contact Coinbase by phone were unsuccessful, Tanja said.
Another client told the outlet that after logging into the Coinbase app in March, nearly $ 35,000 in various crypto assets had disappeared from his account. The Coinbase Regulatory Response Team finally emailed the victim stating that transactions on the blockchain are irreversible, adding that Coinbase’s insurance policy does not cover individual account theft.
In March, the New York Times published a part on a helpless Coinbase client who eventually sued the company after losing $ 100,000 worth of crypto.
To vent their frustrations, other Coinbase users have taken to social media such as popular analyst Kaleo, who told his 360,000 followers that the company had shown an “absolutely disgraceful display of customer care.”
My father has been trying to access his @Coinbase you have had little or no help from Coinbase Support for the past 3 months.
Countless emails with incredibly generic responses that either don’t address the issue or completely ignored. Absolutely embarrassing display of customer care.
– KALEO (@CryptoKaleo) August 24, 2021
The tweet, which was posted less than a day ago, had already drawn a number of responses from other Coinbase clients who had similar support issues or had been hacked. Coinbase actually responded to this complaint, but an individual he pointed that:
“You will only respond and help people who have a large following so that your reputation does not go to hell! What about us? 5 months without help! Blocked account! “
Others said “I have not been able to log into my Coinbase account for almost 4 months. Worst!”
Related: Coinbase creates a support hotline for account acquisitions
When the company went public in April, Coinbase CEO Brian Armstrong wryly told CNBC: “People don’t have to be afraid anymore. [crypto] as in the early days. “
Coinbase users have filed more than 11,000 complaints against Coinbase with the Federal Trade Commission and the Consumer Financial Protection Bureau since 2016, most of them related to customer service.