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CNET News Video
CNET News Video
Coinbase charged customers multiple times for purchases
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.
SecurityBitcoinVisa
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