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Yen Stablecoin $GYEN in a Standoff With Coinbase, Other Major Crypto Currency Exchanges

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Customize alerts based on market price, volume, volatility, exchange listings, wallet monitoring, ETH gas fees, and Bitcoin mempool size. Hi Ca you please add me, my coinbase wallet was hacked and coinbase do not give me any solution. I experienced the exact same thing in August 2021, account still frozen and the $1,200 in Coinbase wallet unknown if still there or not. Coinbase customer service not present, not answering on line requests for assistance or information. If this were a bank doing the same thing people would be in the streets.

Coinbase is the easiest and most trusted place to buy and sell cryptocurrency. Trying for 3 weeks to get set up, still no progress. Had already told them the issue was happening on PC too.

technical reasons

Milberg Coleman Bryson Phillips Grossman and Erickson Kramer Osborne are the law firms that are representing the plaintiffs and classes in the lawsuit case. The latter is also defending the plaintiffs in a dispute filed on May 13 against Coinbase and Trust concerning the November de-pegging of the Japanese yen-pegged GYEN stablecoin. is accused of neglecting its duties to the plaintiffs and the class in many ways, including with the design of stablecoin. A Coinbase customer since around 2016, Kleinman said he tried to call the support line, but waited nearly three hours before giving up.

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Apparently coinbase wallet is separate from coinbase. My token allowance had been set so that these hackers could take unlimited amounts of money from my wallet anytime they wanted to. This whole situation has completely turned me off to crypto as a whole. I sincerely thank you Samuel Alioto for being the first reporter to break this story. Coinbase listed this coin for 3 days before delisting and freezing all holders assets as account restricted Currently no holder can buy sell or transfer. That broke untethered and went all the way to .06 cents.

Coinbase class action lawsuit: Company accused of not … – CoinGeek

Coinbase class action lawsuit: Company accused of not ….

Posted: Wed, 17 Nov 2021 08:00:00 GMT [source]

For customers who were erroneously over-credited 100x the GYEN and POWR they purchased, we ensured that they received the correct amount of assets that they paid for. CoinGeek will keep you posted on the progress and outcome of the Coinbase Class Action Lawsuit. Until then, users who wish to trade digital currencies should be extra careful when selecting an exchange. Feel free to visit our contact page to tell us if you have experienced issues with this cryptocurrency exchange.

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Virtual Currency Businesses Department of Financial Services –

Virtual Currency Businesses Department of Financial Services.

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How can this be when the coinbase delist gyen value has gone up. I have screen shots of the number of coins I originally bought. This has been reduced dramatically by coinbase.

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I entered multiple tickets but even after I secured my email I wasn’t receiving any communication from Coinbase and couldn’t get them on the phone. Coinbase is obviously aware of this form of hack because when I finally got my number back and got a human on the phone they knew exactly how to fix my email. Coinbase has said I owe the $1000 that was fraudulently purchased even though I had my bank decline the transaction. I would gladly join a class action to expose and alert others to this failing on the part of Coinbase. Coinbase immediately devoted substantial engineering resources to quickly correct the problem, ensuring our customers received the correct amount of GYEN and POWR that they purchased.

  • Customize alerts based on market price, volume, volatility, exchange listings, wallet monitoring, ETH gas fees, and Bitcoin mempool size.
  • Coinbase immediately devoted substantial engineering resources to quickly correct the problem, ensuring our customers received the correct amount of GYEN and POWR that they purchased.
  • I made many phone calls and no one knew anything.
  • In March my phone was briefly ported out without my authorization and then the very next day, my Coinbase account was hacked.

They froze my account so I couldn’t sell the coins. I have screen shots, email confirmations and receipts of the original number of coins I bought and the price I paid. I have noticed coinbase have moved the decimal point on the number of coins I own. Because of this, it has made my investment in gyen worth approximately 25% per cent of the original value of my initial investment despite the coins value being higher now than what I paid. Powr they have moved the decimal point too . It is llegal to move a decimal point and reduce the amount of coins someone owns .

A screenshot of his account shows a current GYEN balance of about $67,000, which he said he can’t trade or transfer. A wallet address is a publicly available address that allows its owner to receive funds from another party. To access the funds in an address, you must have its private key. Learn more about addresses in our Knowledge Base. Ethereum—who have co-opted the digital asset revolution and turned the industry into a minefield for naïve players in the market. After complaining to Coinbase, Alfia claims the company locked him out of his account for two months, making it impossible for him to reverse the $50,000 transaction taken from his Bank of America account.

I owned just $400 worth of GYEN, but it suddenly was worth $8800, after someone sent me around 1 million GYEN. Before they froze it, the crypto-currency which should be fixed at the price of one yen, rose to 5 cents each. GYEN should be worth .88 cents each (less than one U.S. cent), the value of the real Japanese Yen.

Is now the right time to buy Coinbase shares?

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On October 16 I woke up to nearly $3k in transferred out of my wallet. No help from coinbase except a response that I should file it with the FBI and that it was my responsibility. Early morning Oct. 31, I looked into my Coinbase wallet and noticed an unauthorized transaction that transferred all my Shiba token along with about 0.11 ETH token out of my wallet.

GYEN (GYEN) price has increased today.

I talked to the fraud department and they sent me to the disputes department and they were going to investigate which after 2 weeks produced nothing. Then I filed a complaint and that process took a month to complete with no results. Then 6 months after my account was opened I received a transfer that was 72% less that what I would have had if the money was transferred when the account was opened. I asked them where has the money been for 6 months and they said it was credited to your account. I didn’t see anywhere that it was credited to my account. Now I am a widow and needed that money and because of the incompetency of coin base I am out of that money and there was no explanation the whole time about where the money was.


Said I needed to deposit another 90k to get my original funds back. “I bought some, felt good, read the description on it 30 mins later, googled Yen to USD, traded it quick with a tad profit. This is going to end ugly for some” User 4 wrote. “Idiots buy it thinking it’s a regular alt coin like doge or iotx. Some ppl who can’t be bothered to research what they buy end up with this stablecoin that’s pegged to the Yen. Funny as fk really.” User 3 wrote. TerraUSD was deemed like every other stablecoin, with a low possibility of de-pegging against the USD.

Hey Chris, I’m not sure if there’s a Law firm that would fight for us. Like you said, if you go on Reddit you can read countless stories of people who have lost all their money in their coinbase wallets. That said, I think if we all rally together and go after coinbase maybe, just maybe we can make something happen here. However after doing some research of my own, it appears that coinbase has never reimbursed anyone due to being hacked as they take no responsibility for it.


Coinbase, the most trusted, publicly traded US crypto exchange negligently listed it. The same occurred on 5/12 with GYEN on Binance, and they quickly delisted- but Coinbase chose to list anyway. It’s understood crypto has risks- and yes many read the white paper and researched before buying. It appeared the coin untethered and was moving on pure free market.

Here is our weekly collection of digital asset listing and delisting, trading pair-related announcements by crypto exchanges that we found last week and today. The value of the GYEN token skyrocketed and then plummeted a week after it was listed on Coinbase, causing the platform to freeze some users’ accounts. Some users also lost money – “untold millions,” according to the lawsuit – during the incident.