Refunds to users who were wrongly charged: Promises CoinBase

Coinbase the largest US based Cryptocurrency exchange is reported to have charged some user’s  credit and debit cards incorrectly and pledged that they won’t be saddled with those charges.

Many Coinbase users reported this complaint:

Pete Kingree, a Coinbase user in Virginia, provided a screenshot of what he said were unauthorized charges to Coinbase totaling $931 with an additional $7.45 in bank fees. “I am writing the Coinbase CEO, OCC, Barbara Comstock (my representative), and the Governor of Virginia,” he said in an email.

According to the The Verge, these complaints started around two weeks ago, but have intensified in the past 24 hours.

“We have identified a solution and any future purchases will not be affected by this issue,” the San Francisco-based company said Thursday in a post on Twitter. “We will ensure any customer affected by this issue is fully refunded for any incorrect charge. We expect this to happen for customers automatically through their bank.”

Writer’s view:-

The company agreed that some credit, debit cards were incorrectly charged, resolved the issue and will refund the customers who were wrongly charged.  That’s good, but companies must take care because these kinds of issues become image spoilers in the market.