Users are upset with Coinbase because many have faced long account restrictions. Some say their accounts have been frozen for months or even years. Complaints appeared on social media platform X, where users questioned Coinbase’s claim that the rise in restricted accounts was just because of inactivity and outside worries about the crypto market.
On December 9, Coinbase Support noted a big increase in platform activity after the recent elections, linking it to a 2-3x rise in fraud attempts. This increase led to the use of automated fraud prevention measures, resulting in more account restrictions and slower customer support responses. Even though Coinbase is trying to fix these problems, many users are unhappy and expressing their concerns.
Users are upset and have gone online to share their complaints, claiming that Coinbase has communicated misleading information. Some accounts have been locked due to VPN use, and users have not received enough support even after trying many times to get help.
Key people in the crypto community, such as investor Glauber Contessoto, have suggested having a customer service line available 24/7 to improve user support.
Even with these challenges, Coinbase has done well financially in 2024, showing a 97% increase in stock value so far and reaching important goals for its layer-2 network, Base. The ongoing backlash about account restrictions highlights the need for Coinbase to improve its customer service and communication as more users join.
