Today was a tragic day when coinbase announced there was a glitch when peoples' banks account were constantly deducting money for fees and charges. This was caused by major debit and credit card networks which created a new MCC to facilitate purchases of digital currencies. The main cause of this problem was visa reversing and rechanging transactions.
Luckily for me, I have only tempoarily lost around $150 from my bank account and I have taken actions to mitigate the risk. There were many other victims who have lost thousands of dollars.
- transferred all digital currencies from the coinbase exchange to a private ledger nano s
- disabled the debit card
- sent all the money from the debit account to the savings account
- recorded all of the transactions onto an excel document
quote from coinbase " If you have been affected by any erroneous charges associated with purchases of digital currency with credit and debit cards, we are encouraging customers to contact their bank or card issuer and ask about the charges. In addition, please contact Coinbase support."
in addition please check your bank account statement and call the bank for issues.
