More and more Coinbase customers are reporting that the cryptocurrency exchange is withdrawing funds from accounts without the permission of their owners. In the cases of some users, this resulted in bank accounts that were linked to these wallets being wiped out.
Coinbase employees initially responded to similar complaints on Reddit, but the number of complaints over the past 24 hours has increased so much that they simply do not have time to respond to them. Such posts also appeared on Twitter and various forums.
Michael Baldessara, one of the Coinbase users, provided a screenshot from his bank account showing several repeat transactions that he was reimbursed 12 days after he posted his post. However, after some time, his account again suffered from this bug and funds were withdrawn from the account, which have not yet been reimbursed. He said Coinbase also did not reimburse him for the overdraft losses he incurred. “Others have suffered much larger losses,” he says, “and I wanted to share this story so that others don't make the same mistake.” Joel Hirtle, a Coinbase customer who suffered a similar loss, says he doesn't trust Coinbase to refund his overdraft losses, citing his terrible experience with customer support as one reason. He unlinked his card from this service because he is afraid of losing funds again.
“I will never trust them with my money again, I can tell you that much. I will never use this service again.”
Coinbase declined to answer questions about how many people were affected, what the root cause of the problem was, or whether they would be refunded. "We are aware of the issue and will keep you updated via our company's Twitter and Reddit. We will personally contact affected users as needed, as well as provide updates on our social media channels."
This is not the first time Coinbase users have complained about repeated withdrawals from their accounts. A similar situation already arose in May 2016.
According to https://www.cnbc.com
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