Coinbase Drama Part 2 (getting screwed)

By Cryptopsycho21 | Cryptopsycho21 | 18 Apr 2024


The drama continues,

 

If you haven’t read my first article on this situation, here it is.

Basically, I am a U.S. citizen living abroad. I set up my Coinbase account from Taiwan and moved funds into it. No problem there. I enjoyed using it for about five years. Then, there was a new security issue that required a stricter I.D. verification. I was fine with that. I prefer better security.

 

However, I couldn’t because my I.D. had a Chinese address, and their system couldn’t accept this. I could easily verify this by changing it to English and making an official change to my I.D. This is legal, so that proof can be supplied.

 

So, I tried to contact Coinbase, but they no longer offer customer service in Taiwan. Therefore, I could only access the FAQ and a chatbot—no use. I tried to email them and got “We do not service your region.”

 

I couldn’t contact anyone, and I couldn’t change my account because I had to verify my I.D. before making any changes to my address.

 

I received a letter in the mail saying that my funds were going to be liquidated (state of escheater). I tried reaching out again, noting.

 

Now the story continues:

 

I have reached out to Coinbase via X, and they can’t help, but they gave me a case number to get assistance. O.K. I got one useless cut-and-paste email. I replied that their suggestions didn’t help, and I had already read all the FAQs. My situation needs to be solved.

 

Nothing after that until today. I got this email:

 

Hello,

This is regarding your account linked to [email protected].

As mentioned in several previous emails, we are in the process of closing your Coinbase account. This is due to Coinbase disabling access for the accounts that no longer meet our updated standards for these services.

If you do not immediately send your funds to an external wallet, Coinbase will be forced to liquidate all of your assets and transfer to the U.S. State of Wyoming’s Unclaimed Property Administration. At that point, your sole recourse to reclaim your liquidated assets will be to contact that government agency and file a claim for the property.

Please withdraw your account balance immediately by sending your funds to an external wallet, which may include a Coinbase Wallet (subject to standard network and transaction fees). Please take precautions when transferring digital currency to an external wallet, as transfers outside of Coinbase are irreversible.

If no action is taken immediately, you will need to contact Wyoming via this link to get your funds back.
Thank you.

 

Any suggestion? Does anyone work for Coinbase and want to give a shout-out to your company?

 

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Cryptopsycho21
Cryptopsycho21

Psycho about crypto


Cryptopsycho21
Cryptopsycho21

Thought-provoking points of view from more of a psychological area that encourage feedback and criticism.

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