BOISE, ID – Idaho Attorney General Raúl Labrador announced his office has recovered $500,000 for a consumer following a dispute with Coinbase, a cryptocurrency retailer.
The consumer filed a complaint with the Attorney General’s Consumer Protection Division after a large deposit was not credited to their Coinbase account. Despite more than a month of repeated calls and assurances from the company’s customer service, the issue remained unresolved. A private attorney then recommended contacting the state Attorney General, citing growing concerns about cryptocurrency platforms.
“This recovery is significant for one individual, but every day my office is helping Idaho consumers in smaller ways, making sure consumers and businesses alike have a trusted partner to help resolve disputes and enforce the law fairly,” Labrador said.
Coinbase responded to the Attorney General’s inquiry by attributing the missing funds to a “temporary issue” in its systems. The company issued a full credit to the complainant’s account, along with an additional $100, noting the customer’s experience fell below company standards.
The matter was resolved without litigation. The Consumer Protection Division, which handles more than 1,500 complaints annually, resolves many disputes informally but also pursues legal actions, antitrust cases, and multi-state settlements on harmful products such as opioids and tobacco. The office also conducts outreach on fraud prevention and consumer awareness.
For more information or to report scams, Idaho residents can visit ReportScamsIdaho.com .
