BOISE — Attorney General Raúl Labrador recovered $500,000 for an Idaho consumer who filed a complaint against Coinbase, a cryptocurrency retailer, after a large deposit was not accurately credited to their account. The consumer contacted the Office of the Attorney General’s Consumer Protection Division, which enforces the Idaho Consumer Protection Act and other related statutes to protect Idahoans from fraudulent and deceptive practices.
Before contacting the Office of the Attorney General, the consumer spent more than a month attempting to resolve the issue with Coinbase’s customer service. Despite multiple calls and repeated assurances that the matter was being elevated within the company, Coinbase failed to act. Frustrated, the consumer contacted a private attorney, who advised reaching out to the Office of the Attorney General, citing the growing public scrutiny of cryptocurrency platforms and confidence that the issue would be taken seriously.