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Dozens from Coinbase and other exchange customers around the world say that their accounts were plundered by attackers or that they were locked out of their life savings without warning or reason — and that the company failed to detect the issues and did little to help. As Coinbase prepares to go public in the next few weeks, cementing its status as one of the world’s biggest cryptocurrency enterprises, its users’ experiences show how the company sometimes still struggles to address basic customer service complaints.
That raises questions for Coinbase at a crucial moment. No major cryptocurrency company has gone public before, and some investors have speculated that Coinbase could be valued at as much as $100 billion. Its listing would also underline how cryptocurrencies have surged in popularity in the pandemic. The price of Bitcoin, the best-known digital currency, has broken records since November.