It's not only happening to new customers. I'm a Level-2 fully verified Coinbase user who has made several successful buys and sells in the past few months without a hitch. And then, suddenly, my orders are getting canceled as "high risk."

Now, I don't believe that Coinbase is defrauding customers or engaging in shady business practices. I trust what Olaf is saying, and I believe they will make things right. It's been five days with no response from customer support, but I understand they are busy and likely very overwhelmed.

I have no reason to believe they won't make things right for me, whitelist my account, and push my order through as the original exchange rate. Despite the stress of the situation (the opportunity cost of my canceled orders is big for me), I must be patient and not go off the rails as many people have. Coinbase seems to be lacking customer support power at this time, but that doesn't mean they aren't an honest, trustworthy company who will make things right if only we're patient.