The Coinbase Account Guarantee
We’ve introduced a new pilot for UK customers: The Coinbase Account Guarantee. Should someone gain unauthorised access to your Coinbase account and misappropriate funds, you may now be eligible for a reimbursement of up to £150,000. See eligibility criteria below.
How it works
Reside in the UK
The Coinbase Account Guarantee is currently only available to users living in the UK.
Someone gained unauthorised access to your Coinbase account and withdrew your funds without permission.
Get in touch
Contact us via the Coinbase Help Center to lock your account, let us know what happened, and provide us with as much detail as you can.
We will investigate your case and reimburse you up to £150,000 should we find evidence of unauthorised activity, and once we’ve confirmed you’re eligible for the programme.
Please be aware that eligibility criteria apply: In order to be eligible you must have completed all the KYC steps that we've asked of you and be trade eligible. Your account must be open for at least 30 days. You are only eligible for a reimbursement once and subsequent unauthorised activity is not covered. A police report needs to be submitted with your request and If you participated in fraudulent activity you are not eligible.
Use crypto with confidence
At Coinbase we want to make it as easy and safe as possible for you to access cryptocurrency anywhere, anytime. Our guarantee is not a regulatory requirement and is not part of the Financial Services Compensation Scheme. The Coinbase Account Guarantee is also not an insurance policy. As the only cryptocurrency exchange offering UK customers reimbursements of up to £150,000, we're proud to protect your funds.
Unauthorised withdrawal of crypto - Someone gains unauthorised access to your account and withdraws your crypto to another wallet.
Unauthorised withdrawal of GBP - The Coinbase Account Guarantee also reimburses you if someone initiates an unauthorised withdrawal of GBP to a bank account or online account.
If funds were removed from your account without your authorisation you may be eligible for a reimbursement of up to £150,000.
Example: You are caught by a phishing or a sim swap attack, and scammers access your account without authorisation, to withdraw your funds.
Incorrect transactions. Example: You sent crypto using the wrong email address or public key and can't recover your funds. Unfortunately, blockchain transactions are non-reversible. Please see the terms below - this isn’t covered as there is no unauthorised access to your account.
Buying, selling or sending crypto. The guarantee only covers unauthorised activity. If you buy, sell, convert, or send crypto using your account and then you regret it, we can’t reverse your transaction or cover losses. Example: You are convinced by a fraudster to send funds to them.
Loss of profits. To be eligible for reimbursement, funds have to have left your account. Example: Hackers access your account and convert your BTC into ETH, which subsequently drops in value.
Keeping your funds safe
There's no such thing as too much security
We require an extra layer of security for all Coinbase accounts.
We store the majority of digital assets in secure offline storage.
Encryption at every step
We use bank-level security: SSL and AES-256 encryption.
Coinbase Account Guarantee
We protect your account from malicious actors and reimburse up to £150,000.
Who is eligible? In order to be eligible you must have completed all the KYC steps that we've asked of you and be trade eligible. Your account must be open for at least 30 days. You are only eligible for a reimbursement once, subsequent unauthorised activity is not covered. A police report needs to be submitted with your request and if you participated in fraudulent activity you are not eligible.
When is the Guarantee being rolled out to other countries? This Guarantee is the first of its kind in the crypto space. With that in mind we are first piloting the Guarantee in the UK and hope to roll it out to other countries should it prove successful.
How long does it take to be reimbursed? We evaluate each case individually and can't promise reimbursements within a specified time frame. Straight-forward cases are easier to investigate and will therefore receive reimbursements more quickly than complex cases.
Is the Coinbase Account Guarantee a regulatory requirement? No, Coinbase is launching this pilot voluntarily to provide an unparalleled level of protection to Coinbase customers. We withhold the right to end or continue the pilot as we see fit.
Does the pilot cover UK citizens and/or residents? The pilot currently only covers Coinbase customers who reside permanently in the UK.