Coinbase is nether fire for terrible customer service following reports of users' accounts existence hacked and drained of funds.

Co-ordinate to a Tuesday investigation by CNBC, thousands of customers across the land accept lodged complaints against the visitor.

The outlet stated that it had interviewed numerous Coinbase customers who claimed hackers had drained their accounts, with the issue exacerbated by the exchange non responding to support requests:

"Interviews with Coinbase customers around the country and a review of thousands of complaints reveal a design of business relationship takeovers, where users see coin all of a sudden vanish from their business relationship, followed by poor customer service from Coinbase that fabricated those users experience left hanging and angry."

One Coinbase customer, Tanja Vidovic, claimed to take lost nearly all of her $168,000 in cryptocurrency holdings after receiving a number of countersign change security alerts in April. Attempts to contact Coinbase past phone were fruitless, Vidovic said.

Another client told the outlet that later on logging in to the Coinbase app in March, nearly $35,000 in various crypto assets had disappeared from their business relationship. Coinbase's Regulatory Response Team eventually emailed the victim stating that transactions on the blockchain are irreversible, adding that Coinbase'due south insurance policy does not cover theft from individual accounts.

In March, The New York Times ran a slice on a helpless Coinbase customer who eventually sued the company later losing $100,000 worth of cryptocurrency.

Other Coinbase users accept taken to social media to vent their frustrations. For instance, popular annotator Kaleo told his 360,000 followers that the company had shown an "absolutely embarrassing display of care for customers."

The tweet, which was posted less than a twenty-four hours ago, had already attracted a stream of responses from other Coinbase customers who had similar issues with back up or had been hacked. Coinbase did really respond to this complaint, but one private pointed out that:

"Yous will only answer and aid people who take many followers so your reputation volition not go down to hell! What nigh u.s.? five months with no help! Locked account!"

Another user on Twitter said, "I oasis't been able to go into my Coinbase account for almost 4 months now. The worst!"

Related: Coinbase creates support phone line for account takeovers

In April, when the company went public, Coinbase CEO Brian Armstrong somewhat ironically told CNBC, "People no longer need to be scared of information technology [crypto] like in the early days."

Coinbase users have filed more than 11,000 complaints against Coinbase with the U.s. Federal Trade Commission and Consumer Fiscal Protection Agency since 2022, and the majority of them are related to customer service.