Coinbase users are furious as widespread reports surface of accounts being locked, preventing them from withdrawing their funds. Many are turning to social media to voice their frustration, often feeling abandoned by the company, with no clear explanation provided for these sudden restrictions. What’s even more concerning is that both new and long-term users, including well-known crypto influencers, are affected.
What could go wrong pic.twitter.com/XeOgRZPZGI
— Crypto Tea (@CryptoTea_) December 13, 2024
Coinbase attributes these lockouts to an increase in fraudulent activities and the reactivation of accounts in response to recent political events. While the company insists its fraud prevention systems are in place to protect users, the lack of transparency and communication has only fueled distrust among its community. Users are left wondering how their accounts became a target and why they’re left waiting without a clear resolution.
Coinbase claims they aren't restricting accounts, this is a lie. Friend who's been active on the platform for 6 years forwarded me an email from @coinbase, it's legit and not a scam. They've restricted his account and now he needs to provide a ridiculous data request to gain… pic.twitter.com/ssRPu7ektV
— Ben Sharpe (@kedlinco) December 13, 2024
Pyramid scheme characterestics
No genuine products or services:
The scheme's primary focus is on recruiting new members, rather than selling products or services. If a product is sold, it may be overpriced, poor quality, or difficult to sell.
High returns promised quickly… pic.twitter.com/mGBCfhC80L— The Great Martis (@great_martis) December 14, 2024
For more details on this topic, you can find information at the following sources:
https://cryptonews.com/news/coinbase-addresses-account-restriction-concerns-were-not-ignoring-you/
https://www.coinspeaker.com/coinbase-responds-user-complaints-account-restrictions-fraud-concerns/