Coinbase Notice of Account Closure

[anaranchi]

So i got a notice yesterday that my Coinbase account is not closed due to some violation. The only thing i used the account for was to order peptides from approved vendors. I've attached the email i received yesterday.

Anyone has a recommendation for an alternative to Coinbase?

 

[FartfulCodger]

Open a Kraken account, fund it, and wait 7 days for the funds to become available. Open an Exodus wallet account with a zero balance. When it's time to make a purchase, send money from your Kraken account to your Exodus wallet. Pay the vendor from your Exodus wallet.

 

[spanky2026]

Well, that's terrifying, just read your post and fell into a Google rabbit hole, seems Coinbase does this a good bit?? 😲😳😳

 

[mybodyisasewer]

Well, that's terrifying, just read your post and fell into a Google rabbit hole, seems Coinbase does this a good bit?? 😲😳😳

They all do! Any service which handles US dollars is required to comply with government regulations. Did you really think your bank (coinbase) was going to turn a blind eye to you sending money to a foreign drug dealer? Wildly irresponsible to assume they would just let you do that. Did you even read their TOS before using them?

Learn this lesson now, before you go and burn another exchange. Every institution is against you. The whole reason we have to use crypto is because sending US dollars isn't allowed.

If you saw a bunch of crackheads hide from a cop, wouldn't you wonder WHY? MAYBE they're breaking the law? Did you think you were special? "Oh they're just paranoid, I can smoke crack. I'm sure the local WalMart is way easier. Someone should go tell those paranoid crackheads that they're doing too much."

 

[ZippityDooDah]

So i got a notice yesterday that my Coinbase account is not closed due to some violation. The only thing i used the account for was to order peptides from approved vendors. I've attached the email i received yesterday.

There is no such thing as an "approved vendor". 🙄 People who use any variation of this phrase are not ready to be buying anything.

Coinbase (or any other exchange) closing accounts is a common, well-known result of ignoring countless warnings here and elsewhere about using an exchange account/wallet to pay vendors.

 

[spanky2026]

They all do! Any service which handles US dollars is required to comply with government regulations. Did you really think your bank (coinbase) was going to turn a blind eye to you sending money to a foreign drug dealer? Wildly irresponsible to assume they would just let you do that. Did you even read their TOS before using them?

Learn this lesson now, before you go and burn another exchange. Every institution is against you. The whole reason we have to use crypto is because sending US dollars isn't allowed.

If you saw a bunch of crackheads hide from a cop, wouldn't you wonder WHY? MAYBE they're breaking the law? Did you think you were special? "Oh they're just paranoid, I can smoke crack. I'm sure the local WalMart is way easier. Someone should go tell those paranoid crackheads that they're doing too much."

You okay dude? Little early in the day for such venom. Bad night?

 

[mybodyisasewer]

Very frustrated with this happening so often, when it is so easily avoidable, and everyone has been warning us about it.

Also I don't think I was particularly venomous. I still want to help people out. Maybe I was rude, but I tried to avoid any personal insults.

 

[brah389]

Zippity has chimed in to almost every crypto corner conversation and warned against when someone mentions making a purchase directly from an exchange and how many exchanges have closed accounts. This is why they make third party wallets such as exodus. To the OP, plenty of other exchanges to purchase crypto from but please look into a seperate wallet. I have no complaints with exodus but there are many out there!

 

[ladyj779]

So if I am funding my Exodus account by sending myself pyusd from paypal, am I okay do you think?

(I have added from my venmo, from my debit card, but just realized I could avoid moonpay which can be glitchy by buying pyusd on paypal and sending to my Exodus account--I'm hoping that's not likely to get my account shut down)

 

[Habibibi]

So if I am funding my Exodus account by sending myself pyusd from paypal, am I okay do you think?

(I have added from my venmo, from my debit card, but just realized I could avoid moonpay which can be glitchy by buying pyusd on paypal and sending to my Exodus account--I'm hoping that's not likely to get my account shut down)

Yes, that's what a lot of people do.

 

[brah389]

Don't forget Alipay is also an excellent choice. I personally do not use it but the people that do use it love it.

 

[Vriende]

So if I am funding my Exodus account by sending myself pyusd from paypal, am I okay do you think?

Yes, many here have used this guide by peptideusername

Except on the updated Exodus wallet app you now use the Swap function when the guide mentions Web3.

PayPal / USDT / Solana Crypto Guide 10.21.25

Back in the day (a little over a year ago), people were spending $10-$30+ to buy crypto to pay for their peptides. In my infinite cheapness, I sought a different, i.e. cheaper way to do it. That's when I discovered that you can use PayPal to buy crypto, specifically USDT/USDC on Solana, for no...

glp1forum.com

 

[minipepbeast]

My PayPal is now saying this...but there is no update available. Let me add that I have never sent to a vendor from PayPal only to my exodus wallet.

 

[ladyj779]

I also cannot update the app but was able to send to my Exodus wallet via the PayPal website on my laptop

 

[IvanD]

lance. When it's time to make a purchase, send money from your Kraken account to your Exodus wallet. P

Open a Kraken account, fund it, and wait 7 days for the funds to become available. Open an Exodus wallet account with a zero balance. When it's time to make a purchase, send money from your Kraken account to your Exodus wallet. Pay the vendor from your Exodus wallet.

Is it still 7 days if you do the fedwire transfer?

 

[FartfulCodger]

Is it still 7 days if you do the fedwire transfer?

I think so because it appears to be initiated by Kraken. It doesn't matter how fast the funds arrive; I think Kraken is the one putting a hold on them, maybe to satisfy some legal requirement.

 

[tcpnomad]

Well, that's terrifying, just read your post and fell into a Google rabbit hole, seems Coinbase does this a good bit?? 😲😳😳

Not just Coinbase. They all do it. Gray market vendors are selling substances that are considered illegal. Their addresses get blacklisted, and any transactions to them are considered illegal and prohibited. If caught by their system, your account will be suspended, just like this.

Exchanges operating under US law are required to do this.

The only thing i used the account for was to order peptides from approved vendors.

The vendors may be "approved" on the GLP-1 forum, but not by the US government. And "approved" in this context means only that they are allowed to market themselves here, and may have good reviews.

 

[BigRed1]

I've had this happen to me years ago. Get verified on Gemini and Kraken both work good for US buys.

Always move money out to your own wallet and preferably move to another address before actually spending it.

 

[dogmom]

This is why it is always recommended to make any payment from a wallet that is not where you actually transfer real money in from.

 

[blokje Ham]

Ik kreeg gisteren een melding dat mijn Coinbase-account niet is gesloten vanwege een overtreding. Ik heb het account alleen gebruikt om peptiden te bestellen bij goedgekeurde leveranciers. Ik heb de e-mail die ik gisteren ontving bijgevoegd.

Heeft iemand een aanbeveling voor een alternatief voor Coinbase?

View attachment 25421

Heb inderdaad hetzelfde gehad met Coinbase. Revolut is een goede vervanger wel het Crypto adres van de supplier aangeven als bekende of familie. Geen problemen .🙂🙂🙂

 

[koffea]

I dont understand why more vendors dont take steps to protect their customers from this. Dont they want repeat customers?
they also insist on using coins that are completely traceable. Again a solvable problem.

 

[wildweasel]

So i got a notice yesterday that my Coinbase account is not closed due to some violation. The only thing i used the account for was to order peptides from approved vendors. I've attached the email i received yesterday.

Anyone has a recommendation for an alternative to Coinbase?

View attachment 25421

Yes, use any other platform, kraken, cashapp, whatever, and transfer your funds into a personal wallet and trasnact from there.

this is standard crypo opsec for grey market pruchases

I dont understand why more vendors dont take steps to protect their customers from this. Dont they want repeat customers?
they also insist on using coins that are completely traceable. Again a solvable problem.

Its not the vendors fault that their customers are violating terms of use on other platforms. Vendors arent telling you to make a coinbase account and use that to pay them. Its the user's fault for sending money from platforms that violates ToC.

Just get your own wallet, people, its not difficult

This is why it is always recommended to make any payment from a wallet that is not where you actually transfer real money in from.

Holy crap this though. If you are using cypro to buy grey market stuff, dont make your purchases from a regulated platform. transfer the funds into your own wallet first.

Its like making a wire transfer to a foreign drug dealer and then wondering why the bank shuts down your account, lol

 

[koffea]

Its not the vendors fault that their customers are violating terms of use on other platforms. Vendors arent telling you to make a coinbase account and use that to pay them. Its the user's fault for sending money from platforms that violates ToC.

Just get your own wallet, people, its not difficult



Holy crap this though. If you are using cypro to buy grey market stuff, dont make your purchases from a regulated platform. transfer the funds into your own wallet first.

Its like making a wire transfer to a foreign drug dealer and then wondering why your bank shuts down your account, lol

This happens to a lot of people for a lot of reasons that have nothing to do with being illegal. Its essentially guilt by association. And AML mechanisms are anything but transparent.

Right now using a buffer wallet gives you some protection, but not much. Its pretty obvious pattern based behavior. So I would not expect this to work forever, especially if you are using the same wallet over and over again to do your grey market purchases.

But strictly speaking from a customer service POV, they know the issues that face their customers in the EU, North America, etc. They could take steps to decrease degrees of exposure to the illicit account. For example they could use a privacy centric coin, dynamic address generation, screen for incoming wallets that have been flagged, etc. Any of these would help, but virtually none of the grey market vendors do. From a brand POV, it would be advantageous for a vendor to do this. They would be protecting themselves and their customers. It would be a win-win for everyone