Delton, MI asked in Stockbroker Fraud for Michigan

Q: I have a digital currency account through a platform named coinbase.

About 6 weeks ago they blocked led my account due to someone other than me trying to access it. I have contacted them several times. The first time they emailed me back with some generic help to open my account back up. That did not work now they wont email me back despite the several emails I have sent. At which point is this illegal? They are holding my money with no way for me to access it. Can it be considered theft? Is there a way to hold this platform accountable for gains lost by not being able to trade?

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2 Lawyer Answers
Bruce Alexander Minnick
Bruce Alexander Minnick
Answered
  • Stockbroker & Investment Fraud Lawyer
  • Tallahassee, FL

A: Depending upon the amount of money involved it might be possible to fix this situation--by hiring a very experienced lawyer who has a commercial banking background to "run interference" for you.

If the lawyer you hire is experienced enough to know how to convince the bank's lawyers why they need to tell their bosses to send your money back--immediately. Banks HATE lawsuits; so they will solve all disputes using money. And when the money belongs to a customer, most bankers will come to heel.

Try searching for an experienced banking lawyer here on Justia and contact them to discuss.

Michael Zamzow
Michael Zamzow
PREMIUM
Answered
  • Grand Rapids, MI
  • Licensed in Michigan

A: You're in a difficult situation, and I agree with Mr. Minnick. You should hire an attorney, CoinBase Inc. is possibly just not certain you are who you say you are, and once they release it they cannot get it back and if it's the wrong 'you' that could become a problem for them.

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