Will Coinbase refund you if scammed? With crypto scams costing $9.3 billion in 2024, per the FBI, Coinbase users often ask, “Will Coinbase refund me if I get scammed?” or “Will Coinbase refund money if scammed?” This article, informed by TrueScope Consulting, explores Coinbase’s refund policy and recovery steps.
Coinbase’s Role
Coinbase, founded in 2012, is a leading crypto exchange. Despite robust security, scams persist.
Why Transactions Are Irreversible
Blockchain transactions are final, preventing reversals. Coinbase’s policy holds users responsible for authorized transfers.
Refund Policy
Coinbase does not refund scam-related losses, as transactions are irrevocable. If you send crypto to a scammer, recovery is unlikely.
Exceptions
In rare cases, Coinbase reimburses for platform breaches. In 2025, a breach involving bribed agents led to $180–$400 million in reimbursements (coinbase.com). Coinbase One offers up to $1 million for platform-related losses (help.coinbase.com).
Steps If Scammed
- Stop Communication: Avoid scammer contact.
- Contact Coinbase: Report via help.coinbase.com.
- Report to Authorities: File with the IC3 (ic3.gov).
- Hire Investigators: TrueScope Consulting traces funds (Crypto Asset Tracing & Recovery).
- Secure Accounts: Enable 2FA.
- Avoid Recovery Scams: Beware fraudulent services.
- Document Evidence: Collect transaction details.
- Dispute Charges: Try with credit card issuers.
- Monitor Transactions: Use Etherscan.
- Seek Legal Advice: Consult a cybercrime lawyer.
Preventive Measures
- Verify addresses.
- Use 2FA.
- Never share keys.
- Avoid phishing links.
Legal Context
A 2025 lawsuit claims Coinbase failed to protect users (topclassactions.com).
Conclusion
Will Coinbase refund if scammed? Generally, no, but TrueScope’s Cryptocurrency Fraud Investigation Services can help trace funds.
