On June 11th I received an email from Coinbase about account problem. I login to my Coinbase account to see this message:
NOTICE OF ACCOUNT CLOSURE
Unfortunately, we had to close your Coinbase account. Before your account can be closed, you will need to withdraw your digital currency to an external wallet and any other funds (such as USD) to a bank account associated with your Coinbase account. Please take precautions when transferring digital currency to an external wallet, as transfers outside of Coinbase are irreversible. Please also be sure to delete any external references to digital currency addresses generated by Coinbase, as funds sent to those addresses will not be accessible once the account is closed. If you have any questions you may visit https://support.coinbase.com.
I quickly submitted a support ticket
My message: “Hi, i see my account is being closed, i had no warning and i’m not exactly sure why this is happening, can you please explain?”
Coinbase reply: “Thanks for contacting Coinbase Support. I’m sorry to hear your concern regarding your account closure. Let me help you with this one.
Our primary goal is to make our platform safe and secure for our customers. Coinbase is a regulated Money Services Business under FinCEN (FinCEN.gov), and as part of our responsibility, we are legally obligated to implement regulatory compliance mechanisms.
We regret to inform you that we are no longer able to support your Coinbase account as well as any other accounts you may have created. Please note, we have not blocked access to the balance currently in your Coinbase account; while we can no longer process brokerage orders via our banking relationship, you may still send your balance offsite to an external address.
There are a variety of factors which have been weighed in your case, and we unfortunately are unable to elaborate on our internal decision process. Please know that we do not make these decisions lightly, and do regret losing you as a customer.
We wish you all the best in your future endeavors. Thank you for your understanding. Please reply to this email if you continue to have issues or need help with anything else. Take care and have a nice day ahead.
I have since seen more people had accounts closed on this Reddit thread including GAB & Wikileaks.
Coinbase, what has happened to you, terminating legitimate 5 year old customers accounts, and more importantly not giving any reason!!! bad bad.