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Business Profile

Cryptocurrency Exchange

OKCoin

This business is NOT BBB Accredited.

Find BBB Accredited Businesses in Cryptocurrency Exchange.

Complaints

Customer Complaints Summary

  • 22 total complaints in the last 3 years.
  • 5 complaints closed in the last 12 months.

If you've experienced an issue

Submit a Complaint

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

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Complaint status

Complaint type

  • Initial Complaint

    Date:08/15/2023

    Type:Product Issues
    Status:
    Unanswered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    Be careful when you are investing, Because trying to recover lost funds or seeking strategies about Crypto future trading and investment, can be very tricky and frustrating when your money is with them. I lost a lot trying to make more income through Crypto trading, after losing over $26,000 I finally met ***************** who works with a recovery company AND who was able to help me recover almost all I lost to these online scammers. All thanks to *****************. Good work deserves good recommendation. Contact ***************** on mail. HARPERJAMESPLATFORM @ GMAIL . COM and their customers' quick response TO YOU.

  • Initial Complaint

    Date:02/28/2023

    Type:Product Issues
    Status:
    Unanswered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    On Jan 16 at 7:25 AM I received an email from OkCoin stating that my account was locked out. I was instructed to reach out to ********************************* to get it unlocked. When I reached out to them via email they replied back (Jan 16 at 9:06 AM) stating that they were unable to support my account and it was in the process of closure. No reason was provided for the closure other than to refer to section 4.4. As such I could not withdraw any funds from the account. My last recollection of the account was over five thousand dollars. I sent them several emails on Jan 16, 2023 to try to resolve the issue and reinstate my account and although I received responses to my email but no reason was provided for the closure, let alone reinstating the account. In their email they did mention that I could withdraw my funds but when I emailed them stating that I could not login to withdraw the funds, they mentioned there were no funds (screenshots of emails provided).On Feb 19 I received another email from OkCoin stating that 2022 Form ****-MISC is ready. But since I have no access to my account I am unable to access the account to download/get access to the Tax form. I have sent support and ********************************* on Feb 20 at 7:51 AM and have not heard back.When I try to login, it says that I did not pass registration, then how did I invest with them, even pass KYC at the time and they mention that I have a ****-MISC tax form. The tax form denotes that they have my identity verified. OkCoin commits fraud on unsuspecting clients who do no access their account in a while by disbursing the funds currently in the account to themselves. Please take action against these criminals.At this time I have already filled complaints for Fraud with the **** C**** DFPI and SEC. I am preparing paperwork for a criminal complaint to be filed with the IC3 Division of the FBI.Contact: *********, CEO, Okcoin Additional Contacts: ****** and ******* Phone: ************** Email: *********************************

  • Initial Complaint

    Date:12/15/2022

    Type:Billing Issues
    Status:
    Unanswered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    OkCoin has frozen my account and my assets, not allowing me to do anything (withdraw, make trades, etc). This is because they are "reviewing" my account verification process. On 12/2/22 I entered the information OkCoin asked of me to verify my account. My account was put in the "reviewing" phase while all my assets are frozen and I'm not allowed to do anything until they approve my verification. I had not heard anything back about this process from OkCoin so I entered a support ticket on 12/12/22. OkCoin staff responded the same day stating "Kindly note that your issue has been escalated to the relevant department. Please wait patiently for their response. Rest assured that we will contact you via this ticket as soon as an update is available." I didn't hear anything from them so I inquired again on 12/14/22 about my account getting verified so I could have access to my assets. There's been no response to this as of 12/15/22 at 5:30pm EST. I am requesting that my account be reviewed and verified so I can have access to my assets.

  • Initial Complaint

    Date:12/15/2022

    Type:Service or Repair Issues
    Status:
    Unanswered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    Okcoins refuses to return my wire transfer after they closed my account for no reason. I want the money returned immediately.

  • Initial Complaint

    Date:12/15/2022

    Type:Product Issues
    Status:
    Unanswered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    On 12/02/2022 i purchased $7000.00 worth of USDC fro Okcoin. They told me that there would be a 10 day hold and that after 10 days i could use my funds. After 10 days had passed i tried to send my USDC to another crypto wallet that i use but Okcoin has a hold on my funds citing *************** and it needs to be reviewed. First of all i am fully verified with them and i even supplied them with my bank statements showing them where my funds originated from. They let me convert my USDC back to ****** for a fee of course } But will not let me withdraw my money , there giving me the run around saying that their *************** team has to review this and they have no idea how long this will take

  • Initial Complaint

    Date:12/01/2022

    Type:Billing Issues
    Status:
    Unanswered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    My mother passed away on 11/28/2022. I was going over her bank account and someone made 2 transactions to okcoin.com on 11/30 totaling $490. They also used my name. I have contacted her bank to dispute the transactions and tried to contact okcoin.com with no response.

  • Initial Complaint

    Date:12/01/2022

    Type:Product Issues
    Status:
    Unanswered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    I hadn't used my account in a couple of years. In Oct '22, I decided to use the account and tried to login but couldn't because I no longer had the same email address and password. I contacted the company and over a period of about a month I jumped through every single hoop they asked me to. I submitted my drivers license, social security information, pictures of myself holding my ID, and every other hoop they asked me to do.They even made me wait a long time so they could 'verify' things. Finally, they let me login to my account.At this point they sent me an email stating that I could get bonus money if I invest at least $100 into cryptocurrency which I did. I planned to hold for awhile anyway and their 6 month wait requirement wasn't an issue. I used their site to transfer $100 USD to my account and then bought crypto with it.I later noticed that they had actually taken TWO transactions of $100 from my account rather than the 1 I had submitted. I logged back into the site and tried to withdraw the extra $100 back into my account it wouldn't let me do so.I submitted a customer service ticket asking them why I can't withdraw the extra $100 they put on there. Their response was an immediate email saying they are closing my account with no reason provided. I was upset of course as I had done nothing wrong, followed all of their procedures, and no reason was provided. So I was willing to let the account go and use a competitor, but the issue remained that I needed my $200 back that was taken out of my account.I sent in another ticket request and now they are holding my money hostage and won't give it back for no reason. They are stating there is a 65+ day waiting period!?The resolution I'm requesting is I want my account closed and all of my funds returned.

  • Initial Complaint

    Date:11/23/2022

    Type:Product Issues
    Status:
    Unanswered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    so signed up for this okcoin app couple months ago i never used it before until this month i made a purchase on it with my debit card then this week of 11/22/2022 i sent a wire to this app in the app because they have low limit for debit card purchases. Moving forward on the app it says wire must come from my bank account with my name on it then i did exactly what it says so i sent the wire from my bank to the app my bank processed it and was sent to them but they wont make it available to me they sent email asking for more information they asked for the picture of the cards i used on the app with my name also proof of the bank i sent wire from i sent them all possible info i could get also i attached the wire receipt then they sent another email to schedule a call with them for final verification. we agreed on time then couple hours later they said they are gonna close my account.. i wasn't expecting that because that because we agreed to call but they didn't call me and closed my account.. there was no fraudulent purchase on the account because the card purchase always request 3d secure code anytime i use and there was no charge back on the account plus the wire i sent to the account came from my name and also i gave them docs they requested and scheduled time for call but they failed to call and they wont give back my funds i told them if they are concerned about security instead of sitting on my wire they should return it back to where it came from but they won't so they just sitting on it and won't disclose any information they keep giving the same response like a bot ... i need help please.

  • Initial Complaint

    Date:10/28/2022

    Type:Product Issues
    Status:
    Unanswered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    OK coin has stolen my money I've had a crypto account with them for a couple of years and they've blocked me from even logging in they will not allow me to take my money they will not allow me to sell any of my coins they will not even allow me to log in they have simply stolen my money they will not respond to phone calls or emails and they need to give me my money back and have their license removed

  • Initial Complaint

    Date:06/03/2022

    Type:Sales and Advertising Issues
    Status:
    Unanswered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    7 May 2022 I tried to deposit $151 but OKCoin's inadequate user interface (UI) caused it trying twice... later I tried to buy $151 in cryptocurrencies but UI didn't use what I'd tried to deposit rather than two more transactions. I needed to cancel three but they said that wasn't possible: I'd have to wait 10 days. Soon they said all transactions went through, so I bought cryptocurrency. After 10 days they said transactions failed, so without giving chance to try alternative payment method, said they'd sell what I'd 'bought' and did so within several hours I was asleep, to another customer (double-dealing.) Despite no transactions were made from my credit union, nor me taking anything, OKCoin only 'cancelled' some. They said transactions went through but were reverted... according to my credit union, the transactions never went through (were refused): there were none to revert. OKCoin claims 'lost' (despite not receiving and me not taking) $142 I 'owe.' Basically, they gave credit/loan without clarifying nor being signed for, then want customers to cover OKCoin's mistakes. They made false statements four transactions went through and false statements those were reverted, which could be honest mistakes but number of mistakes seems higher probability it's lying.Their site is English but emails are from UTC+8/GMT+8: ***** Time. They use Western names but I think are writing from Asia without complete language understanding of what 'complete,' 'revert' mean: sounds like they think if they recorded it--but didn't receive--it 'completed' and if they didn't receive--but was never sent--it 'reverted,' and are giving unstated credit/loans then blaming customers, breaking Western conventions that numbers that are credit/loans (not received) should be labelled as such and normally are required to be accepted & signed for or are invalid.

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