Prior to the IPO, Coinbase users talked about locked accounts and lost money

As it prepares to enter the market, Coinbase continues to struggle to provide support to customers who have problems with available funds or hacking or locking their accounts, the report said. New York Times. The exchange is often considered one of the safer bets for those looking to invest in crypto, but the story goes that users who run into problems could be left out in the cold.

The Times talks about the dozens of customers whose money has been stolen or whose accounts have been locked (which is a common complaint) and the difficulty of contacting a real person at Coinbase. The company’s vice president of customer experience says he faces a “unique set of challenges with a customer experience” due to the fact that crypto trading is always active, and demand has recently risen. But Coinbase’s trust issues go back a long way – in 2014, we wrote about how some customers lost trust in the company after their accounts were hacked.

Coinbase also told Times that real people are responding to requests for help and that he has added 2,000 people to his support team in recent months. The company also publicly committed to better and faster customer support back in January. Despite this, the Coinbase subordinate is still mostly dedicated to people talking about how the company’s support didn’t help them (though it’s worth noting that the sample is somewhat self-selected, and Reddit posts are not verified evidence of the problem).

Coinbase may not be alone in having poor customer support, but a reputation for not helping its customers could be problematic for a company that wants to trade publicly – if customers feel they can’t trust the platform, they will look for alternatives. And, as a financial crime expert points out in Times member, the company will also be subject to greater regulatory oversight and visibility if public.