Coinbase responds to rampant overcharges: ‘We have identified a solution’
https://www.theverge.com/2018/2/15/17018162/coinbase-overcharging-bitcoin-cryptocurrency-response-solution
Digital currency exchange Coinbase responded this afternoon to a report from The Verge regarding rampant overcharging of users and unauthorized withdrawals from their accounts, saying in a statement that the company has “identified a solution” to the problem. The issue, which began percolating on the dedicated Coinbase subreddit late last week, appears to be related to a recent change in the way credit cards classify digital currency transactions. Users were reporting empty cryptocurrency accounts as a result, which was creating panic and calls for legal action among Coinbase customers.
“We’re currently investigating an issue where some customers were charged incorrectly for purchases of digital currency with credit and debit cards,” the statement reads. “This is related to the recent MCC code change by the card networks and card issuers charging additional fees. We have identified a solution and future purchases will not be affected. We will ensure any customer affected by this issue is fully refunded.”