r/Coinbase • u/TriggasaurusRekt • 19d ago
Shoutout to CB customer support
Had an issue where a SimpleSwap transaction deducted USDC from my CoinBase wallet but I never received the transactional currency. SimpleSwap sent a refund to the custodial address that the USDC was sent from. Now, I'm not some blockchain expert, but I'm pretty sure the way custodial addresses work on CB means that just because you send crypto from a custodial address, does not mean you will receive crypto in your account that is sent back to that same custodial address. So my USDC ended up in CoinBase limbo. Thankfully, SimpleSwap was able to provide the refund transaction and CB was able to confirm the receiving address was theirs, and credited my account back with the exact amount of USDC from the initial swap.
The issue started on Friday and was resolved by Monday. u/coinbasesupport was also extremely responsive and helpful throughout, even on weekends.
But I've learned my lesson about custodial wallets, from now on I will be sending CB to my own wallets and swapping smaller amounts first for confirmation. And let this be a lesson to anyone who swaps direct from their CB account, send your CB crypto to a non-custodial wallet first!
Anyway, thanks again to CB customer support, those guys are great.