Coinbase is dealing with more growing pains
Late last month, several major US credit card issuers said they were blocking everything to do with crypto because of the potential for abuse. At the same time, Coinbase rolled out features allowing people to link bank accounts to their crypto accounts. The hope was to make transactions much more easily.
Something has evidently gone wrong.
Many users began to complain about unauthorized charges and they don't seem to be the usual people complaining that they lost money on bad investments. Some say their bank accounts have been drained with others saying they've been charged $1000, 17 separate times.
Coinbase released a statement that seemed to confirm people were being hit with charges.
"We can confirm that the unexpected charges are originating from our payment processing network, and are related to charges from previous purchases. To the best of our knowledge, these unexpected charges are not permanent and are in the process of being refunded," the statement said, adding that it's investigating further.
Users report that banks with trouble are mostly Scotiabank, USAA and several smaller banks.
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