New Coinbase Warning: Verification Issues – Funds Held Hostage By The Exchange

Coinbase is a really popular crypto exchange, but the complaints are pouring in like there’s no tomorrow about fund withdrawal these days.

The crypto exchange was known to “crash” every time Bitcoin went up or down by at least 5%, but the withdrawal issue seems to be intensifying.

Unfortunately, the latest client that’s been hit by the bad luck surrounding the crypto exchange is CryptoGazette’s media director.

Update: Coinbase has verified our media directors account, the issue appeared to be with the property name being in the street name rather than “Unit #” perhaps this input field should be renamed to “Property # or Name”. However due to the fact this article is the most read article on our site for the past 3 months we are not the only customer of Coinbase suffering these issues, far from it. We recommend you contact Coinbase at https://help.coinbase.com and if you are stuck on the upload your ID screen, click the “X” and go to your user information and update the details.

Troubles withdrawing funds

To make things worse, he’s all in on Coinbase. He’s having issues withdrawing his funds, despite uploading the National ID card, passport and driving license as well.

As Coinbase users probably know by now, the crypto exchange’s verification system might just be one of the worst ones out there, in the crypto space, according to the number of complaints that we’ve seen online.

The exchange is known to send only automated canned replies, and you don’t have the ability to talk to a real person in real-time.

The client who’s having trouble now told us that the replies he’s been getting highlighted that he needs to make sure that the details match his ID, and they obviously do – this in only to be rejected again.

It seems that none of his documents solves the issue, and it really looks as if Coinbase is keeping funds hostage at the moment.

Here’s what he has to say:

“They are now holding my funds hostage
* Coinbase’s Automated ID rejects valid ID. Both Passport, Driving License & National ID Card.
* Coinbase has disabled withdrawals despite the site saying it would only allow withdrawals for non-verified accounts.
* Coinbase support simply replies saying computer said “no” cannot talk to a real human.”

 

There are tons of Coinbase-related complaints these days, and the exchange doesn’t seem too eager to solve the issues that they’re having.

Here’s another unfortunate client:

And another one:

This following tweet seems to sum it all up:

Anyway, we hope that Coinabse sees this and fixes things for its clients who trusted the exchange with their funds.

Stay tuned for more updates.

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I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.
  • Fabio Pezzotti says:

    I have exactly the same problem since 3 weeks, wasting a lot of time, writing to customer care: initially they replied then disappeared holding and i cannot withdraw my coins either. Crazy! I am a coinbase pro user

  • people are idiots says:

    “issue appeared to be with the property name being in the street name rather than “Unit #””

    LMAO. PEBKAC.

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