After receiving numerous complaints from its customers, Coinbase has decided to credit the affected accounts with Bitcoin rather than refunding the victims of its double billing “glitch”. Sometime around August 28, Coinbase began charging many of its customers twice for each bitcoin order placed.
Dear valued Coinbase customer,
Coinbase recently discovered that some purchases placed between 8/28 and 9/1 have been mistakenly duplicated. Your bank account may have been charged twice for a single buy order as a result. We identified your account as one of those affected, and we sincerely apologize for any inconvenience this caused you.
Because the initial ACH debit and the duplicate ACH debit have both processed on your account we will be crediting your Coinbase account with the correct amount of bitcoin for each order from both the initial buy and the duplicate buy. This credit will take place early next week when the ACH transfer has completed.
From there you may sell this bitcoin back to your bank account and reply to this message with any additional questions you may have. Please let us know if you have incurred additional bank fees as a result of this error, and we will work with you to refund those.
Thank you for your understanding in this matter. If there is anything else we can help with, please let us know immediately.
Our sincerest apologies,
Coinbase Support Team
Since Coinbase holds bank funds for approximately one week before crediting customer’s accounts with purchased bitcoins, this means the company now holds both the duplicate funds and all the ordered bitcoins. While at present, its customers are left with nothing but double-dipped bank accounts.
Coinbase is a bitcoin wallet and exchange company headquartered in San Francisco California, founded by Brian Armstrong and Fred Ehrsam. It operates exchanges between bitcoin and fiat currencies in twenty-six countries, and bitcoin transactions and storage in 190 countries worldwide.
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