【2002 Archives】

All your money002 Archivesgone. Whoops! Sorry for your loss.

The world of cryptocurrency trading is notoriously risky, but it wasn't supposed to be like this. Some Coinbase account holders are losing their shit today as they look to their bank statements to find that the exchange has withdrawn excessive amounts of money from their accounts.

SEE ALSO: Even Coinbase thinks you should maybe chill for a goddamn minute on Bitcoin

Like, a lot of money. And no, there wasn't just another huge cryptocurrency crash that caught a bunch of margin traders flat footed. Instead, it seems that Coinbase has been mistakenly draining the non-cryptocurrency bank accounts of its customers.

"I am now broke, cannot afford rent, food, gas, bills."

Panicked individuals have taken over the Coinbase subreddit with stories about the exchange double and triple charging them — leaving them flat broke.

"You drained my bank account and now I have nothing," reads one post from this morning.

"Welp officially broke," reads another, "charged 17x1000$ on my account."

Mashable Light Speed Want more out-of-this world tech, space and science stories? Sign up for Mashable's weekly Light Speed newsletter. By clicking Sign Me Up, you confirm you are 16+ and agree to our Terms of Use and Privacy Policy. Thanks for signing up!

"FREAKING OUT," posts another user. "Coinbase drained my bank account. Took 5x the amount I authorized from debit. I am now broke, cannot afford rent, food, gas, bills."

Original image has been replaced. Credit: Mashable

People are pissed, and Coinbase staff are flooding the subreddit to tell everyone to remain calm.

"We are actively investigating some reports from our customers about unexpected credit or debit card charges appearing on their statements from previous Coinbase purchases," a staff announcement explains. "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."

The company's assurances aren't doing much good, however, as telling someone whose bank account was just emptied that "to the best of our knowledge" the charges aren't permanent isn't a way to make any friends.

This Tweet is currently unavailable. It might be loading or has been removed.

Like, for example, saying that you are "actively investigating" the matter probably doesn't immediately help the person who is now "completely rekt" with a "healthcare bill coming up in 8 days."

Investing in Bitcoin has always involved some element of risk. That that risk would reach its hand out from Coinbase and into your linked bank account to pilfer your savings? Well, they always said cryptocurrency was going to revolutionize banking — it appears that Coinbase got the message.

This story has been updated to include tweets from Coinbase.

---

Featured Video For You

---

Bye-bye, Bitcoin. It's all about bananacoins.

---

Topics Bitcoin Cryptocurrency

• Science
• Tech
• Social Good
• Digital Culture
• Deals
• Games
• Entertainment
• Life

• They met on Tumblr, and their relationship outlasted their accounts
• A sonic cyberattack could cause speakers to play dangerous sounds
• Uber Pool without all the stops is finally an option for some rides
• Inauguration, and the Women's March, will give Airbnb its biggest
• NYT Connections hints and answers for January 16: Tips to solve 'Connections' #585.
• 'The Lion King' is now the highest
• 13 times 'The Handmaid's Tale' went wrong in Season 3
• Apple might launch new iPhones on September 10
• How Nicole Rafiee creates content for the chronically online
• Reliance Jio is bringing Apple's HealthKit features to India with its new app

• RIP Charlotte Zolotow, and Other News by Sadie Stein
• “The House We Live In”: Elizabeth Bishop on the Big Screen by Magdalena Edwards
• What We’re Loving: Russian Doubts, Family Ties, and the Letters Q, T, and X by The Paris Review
• Underthings, and Other News by Sadie Stein
• What We’re Loving: Great Teachers, Great Books, Giant Wigs by The Paris Review
• Beat It by Sadie Stein
• Modern Austen, and Other News by Sadie Stein
• Airbrushed Austen, and Other News by Sadie Stein
• Reading Through the Leaves by Amy Grace Loyd
• And the Pantone Color of the Year Is… by Sadie Stein

• Texas vs. Arizona State football livestreams: kickoff time, streaming deals, and more
• Own Google's first Pixel or Pixel XL? You could claim up to $500.
• No, Facebook isn't getting rid of your secret group
• Driver gets caught pulled over on the highway with 8 phones running 'Pokémon Go'
• NYT Connections hints and answers for January 20: Tips to solve 'Connections' #589.
• Inflatable Xbox One controller is perfect if you ever manage to go outside
• Tesla Model 3 crashes into parked truck and catches fire
• Rare photos show Obama girls on their first visit to the White House
• Waymo stopped Los Angeles man from stealing a driverless car
• 'Legion' fades out with oddly peaceful finale

• The Portable Workstation: Dell XPS 13 + 32 UltraSharp 4K Monitor
• Trump to use personal Twitter account instead of @POTUS, report says
• 'Legion' fades out with oddly peaceful finale
• This viral photo of lemons could save your life
• Amazon CEO tries to sell kids on working on the moon
• LGBTQ+ YouTubers accuse the platform of discrimination in federal lawsuit
• Justin Bieber's selfies (and bangs) are back
• China warns Trump again that he is 'playing with fire'
• Brest vs. PSG 2025 livestream: Watch Champions League for free
• You can track Greta Thunberg as she sails across the high seas