Coinbase users have expressed dissatisfaction with prolonged account restrictions due to fraud prevention measures. Clients are urging for better support.
Increase in User Complaints
Many Coinbase users have expressed dissatisfaction with prolonged account restrictions lasting months and even years. Complaints surfaced on platform X, where users questioned Coinbase's claims that the rise in restricted accounts was due to inactivity and external crypto market factors.
Coinbase's Explanation and Community Reaction
On December 9, Coinbase Support noted a significant increase in platform activity following recent elections, linking it to a 2-3x rise in fraud attempts. This led to the activation of automated fraud prevention measures, causing more account restrictions and slower customer support responses.
Company's Financial Success Amidst Issues
Despite account issues, Coinbase has shown significant financial performance in 2024, with a 97% increase in stock value and key achievements in its layer-2 network, Base. This underscores the need for improved customer service and communication as user numbers continue to grow.
Account restrictions highlight the need for Coinbase to enhance user support and communication, especially in light of the company's financial success in 2024.
