You have only $2 to your name now and can’t afford food or bills? No big deal! Sorry for your loss.
Some Coinbase account holders are currently in this position, as a glitch has caused the exchange to withdraw an excessive amount of money from its user’s linked bank accounts. We all knew jumping in the cryptocurrency market was extremely risky but did we ever imagine this? Not the slightest.
Many users have taken to various forums saying:
“Already contacted my lawyer, closed my bank account, removed CB from everything, etc. I knew there is risk to lose money in this space but not like this! I may as well have burned it all. I hope Coinbase implodes.”
Another customer on a Reddit forum states that she is now broke and cannot afford rent, food, gas, and her bills.
This all seems terrible, but there have been some questions and flags raised by other cryptocurrency investors in response to this issue. One person responded, “you only had 1.5k in savings and invested 20% of that in crypto? I always thought it’s a myth that Americans don’t save any money but looks like its true.”
I mean, he’s got a point. Still, accidentally charging your users 5 to 17 times what was initially authorized is ridiculous. We’ve all been charged double at a restaurant or on a phone bill once or twice in our lives – right? However, 5 times the said amount is unacceptable.