Kane Williomson
Will Coinbase refund money if scammed? [Quick Support]
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2 answers
Yes, Coinbase may refund money if you have been scammed. However, it is important to note that the following conditions must be met:
- The transaction was unauthorized. You did not knowingly or willingly initiate the transaction that resulted in the loss of funds.
- You reported the scam to Coinbase promptly. You must contact Coinbase within 24 hours of discovering the scam.
- You have sufficient evidence of the scam. This could include screenshots, emails, or other documentation that demonstrates the fraudulent activity.
How to Report a Scam to Coinbase
If you believe you have been scammed, follow these steps:
1. Contact Coinbase Customer Support immediately. You can reach them by phone, email, or through the Coinbase website.
2. Provide detailed information about the scam. Include the amount of money lost, the date and time of the transaction, and any evidence you have.
3. Be prepared to answer questions about the incident. Coinbase may ask for additional information to verify the scam.
Coinbase Refund Process
If Coinbase determines that you have been scammed, they will initiate a refund process. This process may take several days or weeks to complete.
Note: Coinbase may not be able to refund money if:
- The transaction was authorized.
- You did not report the scam promptly.
- You do not have sufficient evidence of the scam.
Preventing Scams
To protect yourself from scams, it is important to:
- Use strong passwords and enable 2-factor authentication on your Coinbase account.
- Be wary of unsolicited emails or messages asking for your personal information or passwords.
- Never share your Coinbase passphrase with anyone.
- Only trade cryptocurrencies through trusted exchanges like Coinbase.
