Coinbase is erratically overcharging some users and emptying their bank accounts
From The Verge
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.Read more: https://www.theverge.com/2018/2/15/17017374/coinbase-cryptocurrency-bitcoin-ether-unauthorized-chargesIn 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.”
While this does suck for those that were overcharged I'm guessing that Coinbase will take care of their customers and this issue. If not we'll see how quick users can migrate over to Bittrex.
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now i need to go check my account i use coinbase
Honestly I haven't heard of this before, maybe because I'm still new in crypto space, I'll make my research as soon as possible, but I still believe you will bounce back. I know it hurts.
If the story is accurate then this is a serious serious situation.
I don't know anyone in the crypto space that doesn't have an account linked to coinbase. NOT GOOD!
It's only serious if they don't recognize and rectify the problem quickly. If they fix the problem and make good with customers that were hurt by this then I think it could work out better for them. This gives them a chance to demonstrate that they take care of their customers. If handled correctly this issue could instill more confidence.
Although they could fuck this up royally and hurt the price of Bitcoin globally.
What a pain in the azz it would be to have to go thru the linking process for a transaction then delete the link every time.
I extend faith that they will resolve this ASAP>
Selective Scam.
Is happening also in Bittrex.
SCARY!
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While this is traumatic on an individual level, and I would be pissed if I was one of these people, this doesn't seem like a huge deal to me. If there's intent behind it, it certainly does, but if it's simply an error, then it is an error that should be fixed hastily. If anything this could represent negligence and carlessness on the part of Coinbase, which would certainly be worse than an error.
If all is fixed up quick and in the end everything is refunded then there shouldn't be an issue.
There also is an option on Coinbase to set up repeating deposits into your account. Makes me wonder if it's human error rather than Coinbase error.
There was probably many that didn't even notice the overcharging.
The crooks nabbed $100 from me. Bastards.. Coinbase refunded me immediately and are working hard to correct the issue.