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Coinbase is erratically overcharging some users and emptying their bank accounts
Source: The Verge
Coinbase is erratically overcharging some users and emptying their bank accounts
‘I am FREAKING OUT’
By Adrianne Jeffries Feb 15, 2018, 2:07pm EST
A growing number of Coinbase customers are complaining that the cryptocurrency exchange withdrew unauthorized money out of their accounts. In some cases, this drained their linked bank accounts below zero, resulting in overdraft charges.
In a typical anecdote posted on Reddit, one user said they purchased Bitcoin, Ether, and Litecoin for a total of $300 on February 9th. A few days later, the transactions repeated five times for a total of $1,500, even though the user had not made any more purchases. That was enough to clear out this user’s bank account, they said, resulting in fees.
“My bank account went from very comfortable to negatives balance, not to mention extra $5 charges, and overdraft fees,” the user wrote. “As a result my rent check bounced, and my bank went further into negative for a NSF charge for $25. My landlord is not a nice person and is on my CASE and I have nothing to offer him. I am FREAKING OUT.”
Coinbase representatives have been responding to similar complaints on Reddit for about two weeks, but the volume of complaints seems to have spiked over the last 24 hours. Similar complaints have popped up on forums and Twitter.
-snip-
‘I am FREAKING OUT’
By Adrianne Jeffries Feb 15, 2018, 2:07pm EST
A growing number of Coinbase customers are complaining that the cryptocurrency exchange withdrew unauthorized money out of their accounts. In some cases, this drained their linked bank accounts below zero, resulting in overdraft charges.
In a typical anecdote posted on Reddit, one user said they purchased Bitcoin, Ether, and Litecoin for a total of $300 on February 9th. A few days later, the transactions repeated five times for a total of $1,500, even though the user had not made any more purchases. That was enough to clear out this user’s bank account, they said, resulting in fees.
“My bank account went from very comfortable to negatives balance, not to mention extra $5 charges, and overdraft fees,” the user wrote. “As a result my rent check bounced, and my bank went further into negative for a NSF charge for $25. My landlord is not a nice person and is on my CASE and I have nothing to offer him. I am FREAKING OUT.”
Coinbase representatives have been responding to similar complaints on Reddit for about two weeks, but the volume of complaints seems to have spiked over the last 24 hours. Similar complaints have popped up on forums and Twitter.
-snip-
Read more: https://www.theverge.com/2018/2/15/17017374/coinbase-cryptocurrency-bitcoin-ether-unauthorized-charges
3 replies
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