Coinbase has come under fire recently following a technology snafu that reportedly resulted in the company closing many of its customer’s accounts.
When users attempted to purchase Japanese stablecoin GYEN and Powerledger (POWR), they suffered from technical difficulties. This was then followed by an error in the system response. Now, deeply frustrated customers have launched an online campaign demanding refunds.
#Coinbase only gave me $50 worth of $BTC ♀️ I need all my money back that I invest in $GYEN #GYEN and plus you guys gave me a hard time and everything and you guys only game $50 dollars you guys took coins from me from my account and send it to who else wallet! #NBC pic.twitter.com/iZkTAxO5fu
— Dayanara (@Dayanarapretty) December 8, 2021
Chris Flemming, a Coinbase user, has started an online petition against the exchange called “Accountability for COINBASE GYEN account freeze,” which has already garnered 1,620 signatures. It states, “We as a whole recognize that mistakes happen and there is the potential for loss when investing in any cryptocurrency or asset. Though in this case the losses came from internal technical errors of Coinbase.”
On Nov. 10, according to a CNBC report, Coinbase listed GYEN for the first time. Somehow, the coin became detached from the Japanese yen’s price it was supposed to track starting around Nov. 17. The token’s value rose to a peak of 0.065643, which is more than 7.5 times greater than investors had anticipated in fiat currency. Transfer activity on Coinbase increased on Nov. 18 and peaked at $122…