Hello,
i feel with you, but i dont understand how they could steal you the money. Do you mean you buyed, and left the bitcoins at your account?
How much time passed between your buy and their scam trick ?
from my expierience, avoid MT. Gox also.
greetings
Basically, he purchased bitcoin, they took his money, bitcoin increased in value dramatically, and they canceled his order. The gain in value of bitcoin between his purchase and the cancellation is lost to him. Presumably Coinbase actually did purchase the coins back when he placed the order and they had the cash, so they're probably making a lot of money refunding him and selling those coins to someone else today at a higher value.
No, they didn't take his money. They probably didn't even take the money out of his bank account.
I hate to say it, but this guy IS high risk. Adding and deleting bank accounts, making large purchases right after small one's...
Every business in the real world has fraud management. I don't see why Coinbase shouldn't.
I think there is a right way to do this and most large PM dealers do this. It should clearly state on the website that when you send us money your purchase price is not locked in. Then after they do the fraud verifications they can credit the account of the buyer and then you can buy whenever and at whatever price you want with cleared funds. While there is no way to know if coinbase is actually scamming this money. The practice is very scammy. I would suggest any users who had this happen to them to use the small claims court to at least get to the bottom of the practice. It's a simple question if they procured coins at the time of purchase or they did not. If they did then any subsequent gains or losses belong to the customer. If they did not then that should be clearly indicated on the website otherwise it's false advertising since they are selling something they don't have yet.