Ask HN: Does Coinbase periodically wipe user funds?

7 pointsby clpm4j3 anni fa1 comments

I've had two separate Coinbase accounts over the past 8 years, and this has happened to both of my accounts. The first account which I created around 2014-2015, was funded with 0.5 BTC. I didn't log into that account for years (until 2017 when the number was going up), and I painstakingly got back into the account to see that my balance had been reset to zero. I created a second account in 2020, and had a fractional amount of BTC and ETH in my wallet. Coinbase forcibly logged me out of my mobile app sometime in 2022, and I never bothered to try to get back in until today to find that my balance has once again been reset to $0.00.

Has this happened to others? I saw some articles from 2021 that claimed they did this to accounts that hadn't logged in for a number of years, stating that it was considered "unclaimed property" (and apparently claimable by Coinbase?) ...

1 comments

ggwp993 anni fa

https://help.coinbase.com/en/coinbase/managing-my-account/ot...

"The proceeds from this conversion are then sent to the account holder's state unclaimed property office to be held until the owner makes a claim to recover the U.S. dollar proceeds of this conversion."

You can go to unclaimed.org to claim back lost funds.