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Bitcoin Exchange Sees Complaints Soar

  • U.S. regulator gets hundreds of complaints about Coinbase
  • Many customers say they’re not getting funds when promised
Bloomberg business news

Blockchain MD Says Bitcoin Is Not in a Bubble Long Term

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The most popular online exchange for trading digital currencies is generating a surge in customer complaints this year even as investors are lured by a dramatic rise in prices.

The U.S. Consumer Financial Protection Bureau has received at least 293 complaints about Coinbase Inc., according to data reviewed by Bloomberg. That compares with about six complaints for all of 2016, and makes Coinbase the biggest recipient of CFPB virtual currency complaints this year. The website has struggled to keep up with spiking volume and longer transaction processing times as the value of bitcoin and other cryptocurrencies soared to record highs.