A list of Coinbase users have reported some unauthorized charges on their accounts and digital wallet providers. In most of the cases, these included drains on their funds and leaving them with many overdraft fees.
According to the Coinbase subreddit, there are users indicating that withdrawals from their bank accounts were duplicated a lot of times. As one of the users reports on the subreddit:
“My bank account went from very comfortable to negative balance, not to mention extra $5 charges, and overdraft fees,” wrote one user. “As a result my rent check bounced, and my bank went further into negative for a [non-sufficient funds] charge for $25. My landlord is not a nice person and is on my CASE and I have nothing to offer him. I am FREAKING OUT.”
Another Reddit post attributed to the Coinbase staff said that the problem is linked to the company’s recent decision to disable all the credit cards as a payment option on the Coinbase platform.
The update on the post by Coinbase later on read:
“We can confirm that the unexpected charges are originating from our payment processing network, and are related to charges from previous purchases. To the best of our knowledge, these unexpected charges are not permanent and are in the process of being refunded. We are running joint investigations with all parties involved, and will provide updates as we receive them.”
Coinbase also said that the issue is “related to the recent MCC code change by the card networks and card issuers” in a statement on Twitter. As they said:
“We have identified a solution and any future purchases will not be affected by this issue. We will ensure any customer affected by this issue is fully refunded for any incorrect charge,” the company continued. “We expect this to happen for customers automatically through their bank.”
According to some news sources, the complaints started in the past few weeks but have intensified over the past week.
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