Thousands of users brand Coinbase customer service a joke despite a new hotline, more staff to deal with complaints, and repeated promises from the chief exec that things would improve.
According to a CNBC report, the top US crypto exchange is slow to act when accounts are compromised. This allows hackers time to drain cryptocurrency from its users’ accounts.
In August chief exec, Brian Armstrong acknowledged customer issues but he promised the exchange was “doing so much better.”
The customer service team had quintupled since the start of the year, he added.
However, a quick look a Twitter suggests that the Coinbase experience is still a headache for many customers.
Under almost every Tweet from Armstrong is a reply from someone airing frustrations about the way the exchange troubleshoots its issues.
Currently, the Delaware-based exchange — which has offices in multiple cities, including New York — has 65 vacancies in its customer experience department. Several job openings are for roles dealing directly with consumer issues and complaints.
Cold shoulder from the Coinbase customer service hotline
In September, a Coinbase blog post confirmed big changes were coming to its e-mail only customer support including faster response times and live messaging.
Coinbase told users to expect a 24/7 customer service hotline in the US, UK, Germany, and Japan before the end of 2021.
However, users in the US who have access to the hotline report similarly frustrating experiences.
One couple who lost over $700,000 worth of crypto in July said hackers had drained their account before Coinbase acknowledged their request for help.
Erick and Molly Richards believe they were victims of a phishing campaign. They told CNBC that in just 20 minutes the hackers withdrew their 21 Bitcoin in 110 transactions.
Coinbase eventually locked the Richards’ account but the couple says they were ghosted by the exchange’s customer support.
After calling the newly established hotlines the Richards eventually had access to their account restored and were credited with just $500.
Indeed, locked accounts and silence from Coinbase customer service forced two users to file a class-action lawsuit in August.
‘We’re not to blame, honest’
Coinbase maintains it has never been hacked.
However, earlier this month it notified 6,000 users that their accounts may have been vulnerable to a “social engineering attack.”
Between March and May, hackers exploited Coinbase’s own security protocols. By accessing a multi-factor authentication procedure they gained access to customer accounts and the crypto stored within.
Coinbase said that it was not to blame. However, the exchange sent a letter to affected users saying it was beginning to refund stolen crypto. It also set up a dedicated hotline for customers affected by the breach.
And while its users continue to struggle with customer service, the exchange promised to help all organizations who experience cyberattacks.
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