I own a few cryptos through Coinbase and I’m about to get out. A friend had his account hacked and they stole money from his linked bank account, which was restored by the bank after an investigation (Go Frost Bank!!!!) It seems that Coinbase didn’t follow their policy of a delay in transactions so that account owners can be notified if the transaction is fraudulent.
Smells like B.S., and more like “user error”.... Probably clicked on a phishing email and gave them on his info or to someone that called him or her? I could not tell you since I can’t see what transpired. All you have is their word.
There are several checks you have to go through before sending money. For instance, you have to approve it on your computer, cell phone and email when taking from an Exchange. If he or she had it vault, and it sounds like they did not then it’s even longer (48 hours moving it out of cold storage (offline) ).
I know people that do cash out a little here and there. It’s same day now transaction. Use to be 3 to 5 business days.
What do you recommend as a replacement? My main beef w them is that when I am ready to pounce on a panic drop (and they happen all the time), Coinbase suddenly stops working, like they have a Commodore 64 backend. Convinced its a scam on behalf of their Blackrock masters.