Coinbase is currently on an expansion course. But the growth brings problems with it. For example, customer support. Customers describe this as poor in a CNBC article.
The US news portal CNBC has revealed that there are thousands of complaints to Coinbase in the US. CNBC presents several victims of account takeovers, these lost their money after logging into their account. Looking for help, these scam victims turned to Coinbase
and were disappointed with the company’s customer support.
thus features the Vidovic couple, among others. The two were lured to the rising prices of the crypto market – and lost a six-figure sum due to a hack.
“The Vidovics’ account balance had risen to $168,596 on April 28, when the hack occurred, according to account statements the Vidovics shared with CNBC
. That amount is essentially gone, and the next day only showed a balance of $587.15. On Aug. 20, Coinbase contacted the Vidovic couple, stating, “As this attack was not the result of a breach of Coinbase security or our systems, we are unable to reimburse you for this loss.”
Saved on the wrong end?
There were also conversations with former Coinbase employees. These reported that the move from live chats to mail support brought problems. With live chats, employees can attend to a customer’s problems in real time and devote their full attention to them. Email support, on the other hand, drags on for a longer period of time. Customers thus have to wait a long time for a response, even for urgent and time-sensitive concerns.
Coinbase users complained accordingly about the inaccessibility of the support team. Customers reported to CNBC
that they had missed precisely this kind of fast and direct help, for such a sensitive issue. That’s why victims of hacks or SIM-swapping attacks didn’t just seek help from Coinbase, but sought advice from outside companies.
Coinbase partially reintroduces phone support
Coinbase dismissed the blame in some cases. As in the case of Ben: He logged into his account, which was secured by two-factor authentication, and subsequently lost cryptocurrencies with an equivalent value of 35,000 US dollars. Ben was only able to contact the support team via email and was dispatched with the message that his computer had been hacked and that Coinbase’s insurance does not cover account theft. Regarding the slow customer support, the company itself points out that the number of users has increased significantly since 2020. The company is already working on better customer support, it said.
For example, on August 19, the company announced the reintroduction of phone support for account theft cases (account takeover, ATO).
When it comes to the security and support of our customers, our work is never done
. – Coinbase (@coinbase) August 19, 2021
So now there will be customer support via phone again after all. The company also tweeted that it was taking many steps to protect Coinbase customers from account takeovers or SIM swaps.