One of those situations where software bugs may (temporarily) ruin people's lives.<p>Many threads on this topic from people who had a relatively small amount to their name in their bank accounts, it was linked to Coinbase, and they now can't pay living expenses:<p><a href="https://www.reddit.com/r/CoinBase/comments/7xot6y/freaking_out_coinbase_drained_my_bank_account/" rel="nofollow">https://www.reddit.com/r/CoinBase/comments/7xot6y/freaking_o...</a><p><a href="https://www.reddit.com/r/CoinBase/comments/7xspus/what_happened_im_rekt_now_all_my_credit_score_is/" rel="nofollow">https://www.reddit.com/r/CoinBase/comments/7xspus/what_happe...</a><p><a href="https://www.reddit.com/r/CoinBase/comments/7xs2zr/i_have_been_charged_double_for_all_my/" rel="nofollow">https://www.reddit.com/r/CoinBase/comments/7xs2zr/i_have_bee...</a><p><a href="https://www.reddit.com/r/CoinBase/comments/7xsyf4/17x_charges_nope_i_just_got_hit_with_50_count/" rel="nofollow">https://www.reddit.com/r/CoinBase/comments/7xsyf4/17x_charge...</a><p><a href="https://www.reddit.com/r/CoinBase/comments/7xrq4k/welp_officially_broke_charged_17x1000_on_my/" rel="nofollow">https://www.reddit.com/r/CoinBase/comments/7xrq4k/welp_offic...</a><p><a href="https://www.reddit.com/r/CoinBase/comments/7xq3xc/you_drained_my_bank_account_and_now_i_have_nothing/" rel="nofollow">https://www.reddit.com/r/CoinBase/comments/7xq3xc/you_draine...</a><p><a href="https://www.reddit.com/r/CoinBase/comments/7xrf02/3x_5x_how_about_12x_duplicate_charges/" rel="nofollow">https://www.reddit.com/r/CoinBase/comments/7xrf02/3x_5x_how_...</a><p><a href="https://www.reddit.com/r/CoinBase/comments/7xrfhs/double_charged_withdrawals_posted_what_the_fuck/" rel="nofollow">https://www.reddit.com/r/CoinBase/comments/7xrfhs/double_cha...</a><p>Many more on that subreddit... and that's just from people who use Reddit.
They aren't still using MongoDB to handle USD deposits / withdrawals are they? I know that was the root cause a few years back when this cropped up.<p>Edit: past context - <a href="https://news.ycombinator.com/item?id=5428382" rel="nofollow">https://news.ycombinator.com/item?id=5428382</a>
Two weeks this has been going on, apparently. Nothing on their blog, nothing on Twitter. No notifications to customers? Smells of an active attempt to keep the whole thing quiet.
TLDR: if you notice an unauthorized ACH charge, call your bank and dispute it ASAP! Time matters.<p>The scary thing about ACH is that your total possible exposure is not limited to the money in your account. Coinbase could do a $10,000 charge via ACH and in many cases even if you only had $100, the charge would go through.<p>HERE’S WHAT YOU CAN DO: for unauthorized ACH charges, every minute matters. If you call your bank and report the charge within 12-24 hours, you’re likely to have the charge reversed <i>fairly quickly</i>.<p>However, if it’s been more than 3-4 days since the charge, disputing and getting resolution to an ACH charge becomes more laborious and time-consuming.
It's been interesting to see the users of regulation-dodging services like Uber and Bitcoin slowly learn why those regulations came about in the first place.