Flash message currently on the CoinBase support website[1]:<p>> Partial System Outage: We're investigating an issue where some customers recently were charged incorrectly for purchases of digital currency with credit and debit cards. 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 any future purchases will not be affected by this issue. We will ensure any customer affected by this issue is fully refunded. We expect this to happen for customers automatically through their bank. If you believe, you were affected by this issue. Please contact support at support.coinbase.com.<p>[1] <a href="https://support.coinbase.com/" rel="nofollow">https://support.coinbase.com/</a>
"it appears to affect specific banks including Scotiabank and USAA" - <a href="https://www.theverge.com/2018/2/15/17017374/coinbase-cryptocurrency-bitcoin-ether-unauthorized-charges" rel="nofollow">https://www.theverge.com/2018/2/15/17017374/coinbase-cryptoc...</a>
I think this is the official investigation thread:<p><a href="https://www.reddit.com/r/CoinBase/comments/7xs1aq/update_on_multiple_charges/" rel="nofollow">https://www.reddit.com/r/CoinBase/comments/7xs1aq/update_on_...</a>
Looks bad. BitGrail 2.0 with implications many magnitude worse.<p>It's a shame that a technology with so much possible positive impact on the world, getting rid of untrusted and sometimes scammy 3rd parties is itself exposed so much to scam.
The transactions were being repeated, right? To me this is further evidence that traditional banking is obsolete and should be replaced by more sophisticated technology that has built in protection from problems like that.
This comment sounds troubling.<p>> Very interesting.<p>> My bank told me that they used the transaction authorization code from the last transaction. According to this statement, they had to manually enter the previous transaction authorization number and then tag the transaction as a "force post".<p>> "A force-post transaction allows the merchant to bypass the authorization process by manually entering a previously obtained authorization code.<p>> The transaction is then routed through clearing and settlement and subsequently force-posted to the issuer."<p>> The key word is MANUALLY.<p>There's another user claiming to have heard from his bank that coinbase used force-post transaction.