Coinbase charged customers multiple times for purchases
Security
Notification on
Notification off
Transcript
Digital currency exchange Coinbase is having issues.
Coinbase is a digital currency exchange.
Meaning it's a place where you can buy and sell things like BitCoin and Ethereum.
Over on the Coinbase sub Reddit, there are a number of post saying that some customer are seeing their bank accounts emptied because they're being charged multiple times for the same purchase.
One user said Coinbase took five times the amount they authorized.
Another said, they were subject to 50 duplicate charges costing $67,000.
Coinbase issued a statement saying it is investigating the issue.
The company wrote in their tweet that Visa was at fault because it was reversing and recharging transactions due to changes made on Visa's part.
Visa issued a statement essentially saying Nope.
It wasn't us.
Visa's official statement says, "Visa has not made any changes that would result in the duplicate transactions that are being reported.
We are also not aware of any other merchants who are experiencing this issue." In a blog post, Coinbase says it will ensure that any affected customers will be refunded in full.
Refunds will occur over the next few days.
If you've been affected by this issue, go to support.coinbase.com.
If you wanna know more about digital currency, we've got some great explainers on cnet.com.
I'm Iyaz Akhtar and I'll see you online.
Up Next
This cellphone case came from the ocean
14:03
Our favorite budget Apple Watch alternatives
12:47
Senate face off with Facebook, Twitter on 2020 election
9:25
Xbox head Phil Spencer reflects on gaming going mainstream
10:39
Beyond Meat upgrades its burger to version 3.0
18:12
New M1 Macs are a huge shift for Apple
5:51
Facebook, Twitter and Google face Congress over free speech
4:10
Everything AMD just revealed at its RX 6000 graphics card event
5:45
Big tech explains how it will fight foreign government hacks...
7:12
Hawaii senator calls big tech congressional hearing 'a sham'
