SEC Has Complaints Towards Coinbase Regarding The Missing Crypto

Coinbase which is California-located crypto trading platform — is one of the most trading platforms which used to  purchase and sell virtual digital currencies like Bitcoin, Litecoin and Ethereum. Today  at least 115 complaints towards the platform has been sent to the U.S. Securities and Exchange Commission and the California Department of Business Oversight.

In the applications, gained by Mashable, customers have indicted the website of retention access to accounts, inappropriate large amounts of money and of bearing a imaginary client service. A year ago one client wrote in September that Coinbase had “effectively stolen” $21,000 after it allegedly went missing in a bank transfer. “They are ignoring my repeated attempts to resolve this.”

The other client, who mentioned about problems with an account keeping the equivalent of $100,000, said Coinbase had blocked them out by a security software error and had been indifferent during some weeks.

“I believe Coinbase has engaged in fraud by knowingly marketing a service it knows it cannot actually provide. Coinbase knows it does not have the infrastructure to timely and adequately meet customer needs. At the time, bitcoin and other virtual currencies were rocketing in value, leading to an unprecedented interest from eager new investors”.