Coinbase responds to rampant overcharges: ‘We have identified a solution’

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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,”…

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