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Sell Bitcoin for Western Union. Bitcoin to dollar exchange rate. Convert Bitcoin to real money. The world of cryptocurrency trading is notoriously risky, but it wasn't supposed to be like this. Some Coinbase account holders are losing their shit today as they look to their bank statements to find that the exchange has withdrawn excessive amounts of money from their accounts. Even Coinbase thinks you should maybe chill for a goddamn minute on Bitcoin. Like, a lot of money. And no, there wasn't just another huge cryptocurrency crash that caught a bunch of margin traders flat footed.
Instead, it seems that Coinbase has been mistakenly draining the non-cryptocurrency bank accounts of its customers. Panicked individuals have taken over the Coinbase subreddit with stories about the exchange double and triple charging them — leaving them flat broke.
Took 5x the amount I authorized from debit. I am now broke, cannot afford rent, food, gas, bills. People are pissed, and Coinbase staff are flooding the subreddit to tell everyone to remain calm. To the best of our knowledge, these unexpected charges are not permanent and are in the process of being refunded. The company's assurances aren't doing much good, however, as telling someone whose bank account was just emptied that "to the best of our knowledge" the charges aren't permanent isn't a way to make any friends.