Multiple Coinbase customers have issued complaints that the company has withdrawn unauthorized amounts of money out of their bank account. In some instances, bank accounts have been drained completely to zero resulting in overdraft fees on top of an empty account. Users have reported issues of double charging all the way up to being charged 17x for the same transaction. This type of news involving disappearing account balances could seriously impact the reputation of the relatively new company.
On February 15th, a Coinbase employee has posted on Reddit, “the unexpected charges are originating outside of our control, and are related to charges from previous purchases.” Following up stating that the unauthorized charges are in the process of being refunded. Reportedly, Coinbase has had a similar incident in May of 2016. Will this be a reoccruing issue with this service?
It would be illadvised to continue using the service for the time being. Knowing that Coinbase has had issues with over charging recently, I personally will not be putting any more of my money into Coinbase until the issue has been resolved.
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-Blayzincrypto
