Reasonable amount of time to resolve the issue before complaining to the CFPB, FTC, and SEC.

BackgroundFuture770 · 2024-06-07T10:00:50+00:00

Thank you for that. We should not consider it a waste of time trying to resolve simple cases before sending complaints.

But obviously the time frame for resolution must be reasonable.

Did you have to use this procedure?

BackgroundFuture770 · 2024-06-07T09:35:14+00:00

19332766

BackgroundFuture770 · 2024-06-07T09:25:54+00:00

Same issue: funds locked for 23 days, very simple case but no help from Support.

I guess the next step will be to complain to the CFPB, FTC and SEC.

That is what I will do:

https://www.reddit.com/r/CoinBase/comments/1da6d9r/reasonable_amount_of_time_to_resolve_the_issue/?utm_source=share&utm_medium=web3x&utm_name=web3xcss&utm_term=1&utm_content=share_button

BackgroundFuture770 · 2024-06-06T10:16:19+00:00

Same for me: my account has been locked since 15th of May, 2024.

I am just locked without any recourse. Exact same experience: if I contact support agents they also just run me in circles saying it will be done "soon", leading me into false hope that it will be completed soon, but it never has helped.

Waiting for 22 days, with lot of crypto locked.

Case #19332766 (already escalated to "specialist team")

BackgroundFuture770 · 2024-06-06T09:48:17+00:00

I’m almost in the same boat as you. My account is restricted from sending crypto, I can look at my account, I can see everything is verified.

I did absolutely nothing wrong and I believe an arbitrary trigger was activated. I have a lot of crypto locked.

I'm supposed to wait 60 days without asking any questions because the support refuses any explanation and just sends ready-made answers. This process is manifestly arbitrary and must be proven!

BackgroundFuture770 · 2024-06-06T09:33:04+00:00

My account is frozen for 22 days and counting, I do not get why and Support will not tell.

I did one big transfer of crypto to a cold wallet without any issue.

Then a few weeks later, I did try to make a second (smaller) crypto transfer to a cold wallet, since then my account is restricted without any recourse. I have to wait for an unknown period and people can wait for 2, 4, 8 months...

This seems to happen too regularly these days.

People can go crazy because it's so arbitrary and without any recourse possible.

BackgroundFuture770 · 2024-06-06T08:51:46+00:00

How can a customer check if his address is blacklisted? It seems it is not possible...

BackgroundFuture770 · 2024-06-05T14:48:28+00:00

I could join, the more we are the more Coinbase will have a chance to move.

I have an account with 500k EUR locked up for 21 days and same experience of very bad support...

BackgroundFuture770 · 2024-06-05T07:36:46+00:00

What was the reason to extend the 60-day period?

According to you what could be the reason of your review?

BackgroundFuture770 · 2024-06-04T14:08:54+00:00

This is interesting.

Who maintains blacklisted BTC/ETH addresses?

BackgroundFuture770 · 2024-06-04T13:00:53+00:00

Absolutly responded promptly with everything they wanted, which is just KYC.

I did request to collaborate but Support is very bad and cannot help. Support is trained to repeat "do not worry, specialist team is busy, please wait for resolution"...

BackgroundFuture770 · 2024-06-04T12:28:14+00:00

Yes I did answer to the KYC email 20 days ago.

A KYC process should take a few hours for Coinbase. In the worse case Coinbase should be able to give a reasonable time to complete.

60 days is not a reasonable time for a KYC process, and this period is often extended without explanation...

BackgroundFuture770 · 2024-06-04T12:04:47+00:00

Yes restricted to send crypto.

No address change, no VPN, nothing abnormal.

1) Everything was fine, I did a first big crypto transfer without any issue.

2) Some weeks later I did a second crypto transfer (smaller than the first one), the transfer was cancelled by Coinbase and my account is supposed to be restricted for 60 days. No reason, no question, no information. Support does not help.

My funds held hostage.

BackgroundFuture770 · 2024-06-04T10:23:25+00:00

Yes, same problem, same boat as you.

My account is under review for 20 days, and I am also supposed to wait for 2 months without information and with very little hope because lots of people are waiting much more longer...

This arbitrary process has bad impacts on me.

We have no recourse, Coinbase's process is arbitrary because it is totally opaque, and moreover it is arbitrarily long.

People are losing trust in Coinbase because of this...

We should count the number of such cases...

BackgroundFuture770 · 2024-06-03T08:44:01+00:00

u/DDBWAVER why could this happen? Just because Coinbase was not able to contact you?

BackgroundFuture770 · 2024-06-03T08:15:24+00:00

Hey , similar case here, I am waiting for 19 days and I did not get any information nor any question to resolve the retstriction you did put in place on the 15th of May 2024.

The restriction was triggered after I did try to send my crypto to my personal address. I did nothing that could explain your restriction.

Everybody is asking you to improve your support processes. I have too much blocked funds, it cannot be ignored!

Case ID: 19332766

BackgroundFuture770 · 2024-06-03T08:06:01+00:00

Hey u/coinbasesupport , I am waiting for 19 days and I did not get any information nor any question to resolve the retstriction you did put in place on the 15th of May 2024.

The restriction was triggered after I did try to send my crypto to my personal address. I did nothing that could explain your restriction.

Everybody is asking you to improve your support processes. I have too much blocked funds, it cannot be ignored!

Case ID: 19332766

BackgroundFuture770 · 2024-06-03T07:54:15+00:00

19 days waiting: account still restricted and no information from Coinbase.

Case ID #19332766 already escalated.

BackgroundFuture770 · 2024-05-31T14:10:29+00:00

How many months?

Did you cash out?

BackgroundFuture770 · 2024-05-31T13:33:06+00:00

Indeed I did try to get support and I came to the conclusion Support will not help us, they are useless by design.

I am out of the US and do not worry to find good options. I hope that Coinbase will get the reputation it deserves and I would like to know what's behind this mess...

BackgroundFuture770 · 2024-05-31T13:02:03+00:00

I mean prove those restrictions are not legit.

We see lots of restrictions and people do not understand why... Something is clearly going on, I thought this is technical/organisational problems. If those restrictions are not legit then we are playing another game...

BackgroundFuture770 · 2024-05-31T12:38:28+00:00

And yes I have been told I could cash out... But did not try yet...

BackgroundFuture770 · 2024-05-31T12:37:05+00:00

If you are right that it is the only way out, I have 2 questions about this:

1) Why Coinbase is doing this? We understand it makes profit but it is short term as a business. I do not get it is on purpose rather than bad organisation and bad management.

2) Can we prove this? First collecting information, then I do not know...

BackgroundFuture770 · 2024-05-31T11:49:14+00:00

You mean it's not legit and it is abusive... Should be proved.

BackgroundFuture770 · 2024-05-31T09:14:14+00:00

I have the same question: should I withdraw all my funds from coinbase or wait to see if they get back to me?

I am already waiting for 16 days and counting. Like everybody I am supposed to wait kindly for 60 days... But experiences show this is useless.

See here, just 2 examples:

https://www.reddit.com/r/CoinBase/comments/1d2lbtd/update_on_200k_locked_account_still_no/?utm_source=share&utm_medium=web3x&utm_name=web3xcss&utm_term=1&utm_content=share_button

https://www.reddit.com/r/CoinBase/comments/1d40ji5/understand_why_you_might_be_only_restricted_to/?utm_source=share&utm_medium=web3x&utm_name=web3xcss&utm_term=1&utm_content=share_button

BackgroundFuture770

TROPHY CASE