Coinbase apologizes for failures in customer service | Finance

Coinbase, one of the largest international crypto exchanges, apologized to users and pledged to improve its customer service this past Friday (15). Numerous complaints from users with difficulties accessing their accounts circulate on social networks. In times of intense movement in the cryptocurrency market, the broker found itself with a flow of requests that overloaded its SAC.

Bitcoin and Ethereum (image: Stock Catalog / Flickr)

Coinbase vice president of customer experience, Casper Sorensen, reports in a statement what has been happening: “When there is a lot of interest in the cryptocurrency market, we see a greater flow of support requests for new and existing customers. We realize that many of you are experiencing delays in our response time. Whether you are a new user or have been with us from day one, we recognize that this is frustrating. This is not the experience we wish for you ”.

Coinbase users complain about frozen accounts

After a very busy start to the year in the crypto market, with multiple price records being broken, Coinbase customers report on Twitter their frustration at not being able to sell or buy cryptocurrencies.

A user reports on the social network: “Lousy customer service, costing me a lot of money. Tickets, tweets and unanswered complaints! Frozen accounts are a joke. ”

Another customer complains that he created a new account and transferred bitcoins to his digital wallet, which is now frozen awaiting investigation / verification. “Why doesn’t anyone return to me?” question.

Reports began in October 2020, when Coinbase adjusted its security standards to comply with preventive money laundering regulations. One of the new rules on the horizon is the proposal by the American agency FinCEN (Financial Crimes Enforcement Network), which suggests that companies that deal with crypto are required to collect personal information from users.

Both new customers and old users report problems during this transition. At the same time that Coinbase started to adjust its internal regulations, the crypto market has skyrocketed, increasing activity in the exchange. As a result, many accounts are frozen under review, requesting the submission of proof of identity documents.

Coinbase strengthens its service team

The cryptocurrency exchange did not speak openly about the problem of frozen accounts, but it was generally admitted that its customer service is currently insufficient.

Sorensen cites some measures that Coinbase is taking to alleviate the disorder. “We have increased the size of our 24/7 customer support team and will continue to add more people to solve their problems more quickly,” said the vice president.

More self-service options are being implemented, so that the user can solve simple problems without wasting time. The Help Center is also being expanded with the launch of a completely new website, Coinbase Learn, dedicated to informational content.

The company is also committed to launching, in the coming months, a faster way to contact its customer service through messages, where the user can chat directly with Coinbase support.

With information: TechCrunch

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