Comment · Sat, April 8, 2017 · Ceretropic & Nootropics Depot
Coinbase closing accounts associated with Nootropics depot
Original post in this thread
Shortl4ndo · 47 points
Hello,
Thank you for your interest in Coinbase. Our primary goal is to make digital currency safe and secure for our customers. Coinbase is a regulated Money Services Business under FinCEN (FinCEN.gov), and as part of achieving this goal, we are legally obligated to implement regulatory compliance mechanisms.
Upon careful review, we believe your account has engaged in prohibited use in violation of our Terms of Service and we regret to inform you that we can no longer provide you with access to our service. We respectfully request that you follow the on-screen instructions presented when you log into your Coinbase account to send any remaining balance offsite to an external address.
Should you have any questions or need assistance, please let us know and we'll be happy to help.
Respectfully,
Coinbase Customer Support
I only ever made 1 purchase using that Coinbase account, which was to Nootropics Depot.
It was sometime last week. Purchase was fulfilled - although I got the above email earlier today.
Edit: And others - https://www.reddit.com/r/Nootropics/comments/63x7ik/challenges_with_nootropics_depot_payments/dfyg6av/
What they were answering
BCosbyDidNothinWrong · 2 points
The problem here was people paying directly from their coinbase wallets to another coinbase controlled address. That isn't bitcoin's fault, both sides have all the information of a bank!
u/MisterYouAreSoDumb · Ceretropic & Nootropics Depot
We do not use Coinbase. All our wallets are not Coinbase controlled. Somehow Coinbase flagged one of our Bitcoin wallet addresses, then retroactively shut down accounts of theirs that had sent to that address in the past. So Coinbase only saw one side of the transaction, but they can publicly see the wallet address sent to on the blockchain. We are still trying to figure out why they red-flagged one of our addresses, though. They would not have any insight into our wallets, unless someone told them who owned them, or they had some other way to link them. Who knows, they might not even know that wallet is ours, and they red-flagged it for some other reason we are unaware of; perhaps a risk algorithm or something.