
YC startup Coinbase has been hacked? Unable to withdraw $25,000 - coinbaseuser
I believe that coinbase has experienced a hack on a large scale, as there have been multiple people having issues with withdraws recently on coinbase. Several other people on the coinbase support forum have recently stated that coinbase has also stolen their funds.<p>So I wanted to warn the reddit community from using Coinbase.<p>Here is what happened:<p>Coinbase shut down my account, and then there was a message displayed saying that I need to transfer the 60 Bitcoins (about $25,000 ) to another address. I attempted to do that at least 10 times, but it simply says &quot;please wait...&quot; for over 2 hours.<p>Next, I sent 3 different support tickets asking for help on this topic, but it has been 4 days already with no response at all.<p>I have about 60 BTC on this account, worth around $25,000 at this time.<p>In conclusion, Coinbase is not to be trusted and has most likely experienced a major hack.<p>Attached is proof on my coinbase account: http:&#x2F;&#x2F;imgur.com&#x2F;AK8lCgF<p>UPDATE 05&#x2F;26 6:30PM EST: someone else just posted about this. (I swear it&#x27;s not me )<p>The person said that they were unable to withdraw their money.<p>I&#x27;m pretty sure coinbase has been hacked. DO NOT USE COINBASE.<p>https:&#x2F;&#x2F;www.reddit.com&#x2F;r&#x2F;Bitcoin&#x2F;comments&#x2F;4l7tde&#x2F;coinbase_down&#x2F;
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Michael_CB
Hi - Michael here from Coinbase Support. Since this has shown up on both
reddit and now here, it's probably worth stating that we haven't been
compromised. We have, as the customer stated, closed their account and will
not be re-instating it. The customer is able to withdraw their funds without
restriction, but has had some issues doing that. It's completely
understandable that this would be upsetting. We're working with them to
resolve the issue.

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roymurdock
I just got a weird email from Coinbase last night. I've had an account for ~2
yrs now but haven't been very active. They sent a message soliciting me to log
in for the first time that I can remember. Here's the text of the email:

 _Subject: The Economy of the Future is Here!

Wow - the price of bitcoin nearly doubled in the last year! We noticed it's
been a while since you bought bitcoin and thought you might want to get your
stake in finance 2.0 sooner rather than later.

Sign in to your Coinbase account now to instantly purchase bitcoin and start
participating in the economy of the future._

The kind of email that makes you think...what is the agenda here?

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jbpetersen
I got this earlier today:

 _Just when you were beginning to understand Bitcoin, we decided to add
Ethereum! We thought you might want to get your stake in Finance 2.0 sooner
rather than later.

Sign in to your Coinbase account now to instantly purchase Ethereum and start
participating in the economy of the future._

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whamlastxmas
Not chastising you, but why would you store $25k with what is essentially a
bank that has no FDIC (or any other type of) insurance for those funds?

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jstr
Coinbase have insurance.
[https://support.coinbase.com/customer/portal/articles/166237...](https://support.coinbase.com/customer/portal/articles/1662379-how-
is-coinbase-insured-)

~~~
whamlastxmas
>Coinbase's insurance policy would respond in the event that bitcoin stored in
Coinbase was lost or stolen as a result of a breach of our physical security,
cyber security, or as a result of employee theft

Potentially not covered:

Non-theft malfeasance

Negligence

Bankruptcy

Seizures by foreign governments

Technical problems leading to loss of data

Someone at Coinbase not liking you and wiping out your account

Unauthorized access to your account that doesn't count as a breach of security
(your link specifically mentions this one as not covered)

Violation of terms of service leading to forfeiture of account and balance

And probably tons of others I haven't thought of. I know most of these are
unlikely, but still very possible. Someone losing their FDIC insured bank
account balance due to any of the above is virtually unheard of as long as the
consumer exercises their legal protections. Keeping $25k at Coinbase is just
as risky as keeping it at Paypal, and we all know how much Paypal loves
permanently freezing accounts.

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hoodoof
It seems to me that anything associated with Bitcoin becomes a target for
hackers.

site relates to bitcoin = eventually hacked

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herbst
Pssh. This also is true for any other digital system that handles money.

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herbst
Just moving my money out. I got a gambling warning anyway and do not accept
that they forbid this.

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brokenmachine
I lost a lot of money in the MtGox theft. Not a nice feeling.

I really hope it works out for everyone.

~~~
WALoeIII
Completely unrealized gains or had you actually lost capital you converted to
BTC?

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lquist
Where should I move my BTC to assuming I can get access to my coinbase
account?

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tinkerrr
If you have a significant amount of money, I would suggest a good hardware
wallet like Trezor or KeeyKey or Ledger.

