Coinbase Claim for Compensation

Coinbase Claim for Compensation

What Coinbase did:
Coinbase failed to provide sufficient warning of impersonation / fraud on YouTube (a major social media platform).

The week of May 15, 2022, online cryptocurrency scams were being featured / recommended on YouTube and Twitter. These scams apparently date back to as 2020, where Steve ***** of Apple filed a lawsuit against YouTube over the issue.

Users had notified Coinbase of the ongoing scams promoted on the landing pages of these major platforms, and Coinbase failed to protect users against this high profile crime.

As a result I was defrauded out of .1182 BTC (approximately $3,500 at the time). I contacted Coinbase approximately 30 minutes after the transaction was initiated in an attempt to cancel it, but the representative said it was too late. They also explained that (19) hackers / scammers had accessed or attempted to access my Coinbase account.

Afterwards, I immediately notified IC3, the FTC, local and federal law enforcement, YouTube and Google.

Even if the funds are not recoverable, I want Coinbase to create a portal to connect users that were defrauded so we can take action against those responsible. At the time of writing this almost a month later, these scams are still ongoing and I have yet to see any warning emails or cautionary bulletins posted by Coinbase.

Coinbase needs to create a way for its affected users to connect with each other to initiate a class action lawsuit against YouTube.

Submitted by: Anonymous Coinbase customer in Austin | Read more Coinbase complaints


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