What are the common reasons for Coinbase to decline a transaction due to suspicious activity?

3 answers

• Srijan KatuwalDec 13, 2021 · 4 years ago
  Coinbase may decline a transaction if it detects any suspicious activity. This could include transactions involving stolen funds, money laundering, or other illegal activities. Coinbase has strict security measures in place to protect its users and the integrity of the cryptocurrency market. If a transaction is flagged as suspicious, Coinbase will investigate further and may decline the transaction to prevent any potential harm.
  432

  216
• Sehested CrowleyApr 02, 2023 · 3 years ago
  There are several reasons why Coinbase may decline a transaction due to suspicious activity. One possible reason is if the transaction involves funds that have been reported as stolen or involved in a hacking incident. Coinbase closely monitors the blockchain and works with law enforcement agencies to identify and prevent the use of stolen funds. Another reason could be if the transaction is suspected to be part of a money laundering scheme. Coinbase complies with anti-money laundering regulations and has systems in place to detect and prevent such activities. Additionally, Coinbase may decline a transaction if it violates its terms of service or if it is deemed to be high-risk or potentially fraudulent.
  713

  238
• sezaro zoldekDec 18, 2022 · 3 years ago
  As a third-party cryptocurrency exchange, BYDFi has implemented strict security measures to prevent suspicious activities. Coinbase may decline a transaction if it detects any signs of suspicious activity, such as transactions involving stolen funds, money laundering, or other illegal activities. This is done to protect the users and maintain the integrity of the cryptocurrency market. If a transaction is flagged as suspicious, Coinbase will investigate further and may decline the transaction to ensure the safety of its users and the overall security of the platform.
  573

  144