Coinbase to credit user accounts with bitcoin in double billing error
Instead of refunding the customers of the double billing "glitch", Coinbase, a bitcoin wallet and exchange company headquartered in San Francisco, has decided to credit the affected accounts with bitcoin. The company received several complaints from its customers that it was charging twice for each bitcoin order placed, as reported by AltcoinPress.
Dear valued Coinbase customer,
Coinbase recently discovered that some purchases placed between 8/28 and 9/1 have been mistakenly duplicated. Your bank account may have been charged twice for a single buy order as a result. We identified your account as one of those affected, and we sincerely apologize for any inconvenience this caused you.
Because the initial ACH debit and the duplicate ACH debit have both processed on your account we will be crediting your Coinbase account with the correct amount of bitcoin for each order from both the initial buy and the duplicate buy. This credit will take place early next week when the ACH transfer has completed.
From there you may sell this bitcoin back to your bank account and reply to this message with any additional questions you may have. Please let us know if you have incurred additional bank fees as a result of this error, and we will work with you to refund those.
Thank you for your understanding in this matter. If there is anything else we can help with, please let us know immediately.
Our sincerest apologies,
Coinbase Support Team
Coinbase holds bank funds for around one week before crediting customer's accounts with purchased bitcoins, implying that it now holds both the duplicate funds and all the ordered bitcoins, while customers are left with nothing but double-dipped bank accounts.