I've posted about my experience on some of the other Coinbase links on here, and will continue to do so to be informative.
I had an issue with Coinbase back in early 2016, where my bank account was charged for a transaction that I didn't initiate, and I contacted their support and got no response. I waited a few weeks and reached out multiple times and got nothing. I contacted my bank and they initiated a fraud investigation, and determined it was fraud and refunded my money, partially because Coinbase refused to communicate with myself or the bank.
Do NOT use Coinbase. Use Gemini or Bitstamp, yes you have to get verified, but it's worth the headache.
That thread contains numerous people claiming their USD withdrawals were marked as completed, but the money failed to appear. Overloaded customer service reps from Coinbase appear to be looking into and handling them individually.
I think this is what it would look like if their systems had been hacked, and thieves were cleaning them out by changing the destinations of wire transfers. If that was happening, they wouldn't necessarily be insolvent - they were probably holding lots of Bitcoin during the massive rise in price, and the losses would be in USD - but it'd certainly mean they were in trouble.
Every article I read about Coinbase is either about the system being down, people not able to withdraw their funds, or not being able to contact support.
Who's the primary competition for Coinbase in the USA? Seems ripe for a competitor to step up.
While I don't think Coinbase is scamming users, and they are certainly highly regulated. They are definitively the most incompetent organisation this year.
Bitfinex does get lots of heat in the crypto space, but comparing it to the rest of exchanges they have been rather very professional and fast to fix issues.
Hopefully this is just growing pains and not the first signs of insolvency. MtGox stopped most USD withdrawals by June 2013 but didn't shutdown until Feb 2014.
The telltale sign of a business with cash-flow issues.
Many more threads like this:
Having met some early (and I'm assuming still current) Coinbase employees several times in social situations, I can say without a doubt that "I would trust these guys with my money" wasn't among my thoughts about them.
They were the types of people who could make any social interaction feel like an MLM pitch.
i once had an experience which was not good with coinbase...i finally met galvin, am happy i did because ever since then he has been the one handling my every need up to hacking needs...these guys are simply superb. >>>galvinaccess2@gmail. com