Coinbase Will Have To Refund Double-charged Customers

Even Bitcoin exchanges can make a mistake now and then, although people may have a hard time forgiving what Coinbase did not too long ago. Various users have been double-charged on their transactions, although the company has apologized for the mistake.

Coinbase Double-charge Without Explanation

TheMerkle_Coinbase Double-Charge

A new topic surfaced on Reddit yesterday, explaining how Coinbase has apparently double-charged a few customers. One particular batch of transactions seems to be affected by this issue, and all platform users are advised to keep an eye on their bank statement. If this double-charge took place, they should file for a refund immediately, assuming that hasn’t already happened.

Unfortunately, there are no specific details regarding the refund process available at this time. Moreover, the customer support representatives are quiet on social media regarding this issue, as if they are pretending nothing has happened in the first place. Not a good business practice, especially for a company in the middle of a rebranding process.

A lot of Bitcoin community members are upset about this occurrence, and some of them have asked their bank to freeze all Coinbase transactions for the time being. While no one is denying Coinbase will take care of the problem, issues like these should never occur to begin with.

Some users are even poking a bit of fun at the company, considering how Coinbase has made their KYC and AML requirements even stricter than before. With such a modern system in place, double-charging customers should not be possible – in theory – yet the entire team missed these odd transactions until customers started reporting them.

It seems very likely this issue will cost Coinbase, some customers, and it does not bode that well for their expansion plans into other cryptocurrencies. We can only hope all of the affected users will be refunded as soon as possible so that this entire issue can be rectified. After all, that is the only thing what matters right now.

Source: Reddit

Images credit 1,2

If you liked this article follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.