ComplaintsforGemini Trust Company, LLC
Current Alerts For This Business
BBB files indicate a Pattern of Complaints about account management concerns and customer service issues for Gemini Trust Company LLC. Since the beginning of January 2021, BBB has noted a dramatic increase in the number of complaints filed with BBB against Gemini Trust Company LLC. Consumers are telling BBB about their experiences after signing up for an account with the company. Most complaints mention that the Bitcoin currency in their accounts is inaccessible to them. Some complaints allege that the company’s verification process for withdrawals or transfers is holding up the transactions. A large majority of consumers have reportedly reached out frequently to Gemini Trust Company LLC but cannot get a response about how to fix the situation with their accounts. As of December 2021, BBB is still noting persistent issues with complaints filed against the company such as account verification delays, frozen funds, and difficulty in reaching a company representative to assist with resolving the problems.
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Complaint Details
Note that complaint text that is displayed might not represent all complaints filed with BBB. See details.
Initial Complaint
02/22/2024
- Complaint Type:
- Product Issues
- Status:
- Answered
On Feb 21st, 2024, I opened up the Gemini exchange and clicked the deposit button. Gemini has a long list of coins that they support, some of which have their own blockchain, and others that are just tokens on an existing blockchain. This specific incident is related to the token ***** which is native to the polygon network. Gemini supports this coin, but only as a token on the Ethereum network. Unlike other exchanges, who show deposit addresses for every chain they support, Gemini lazily only supports the Ethereum network, because it is how they can quickly get trading for this coin online and neglect to support the actual network in the long run. As a result, many users who have run to reddit to voice their concerns, have lost funds thinking that Gemini truly supports ***** on it's native network, when in fact it does not. Gemini will respond to your inquiry once you lost your funds letting you know this is burried in their documentation and that its on you for not reading through it thoroughly and instead trusting their deposit page. It's unbelievable though as they have the private keys to get these funds and send them back, and they are the only ones who will ever have it.In my transaction specifically, I lost around $1400 that was sent to their exchange and because they say they do not support this native network, they are unable to recover my funds. You can find many complaints on reddit about the same thing, showing that this is not just something that has happened to a few one off people, but it is affecting a larger number of customers than they're willing to admit.I've worked in the exchange business before, so I know this is a cheap shot way of them adding ***** to their portfolio of tokens they support for trading without taking responsibility of properly supporting another network. Polygon has been online for years now and there is no excuse as to why they do not support it yet. They just don't want to because its more work and more engineering.Business response
02/27/2024
******** *** **** *************************** ****************************************************************** **
Re: BBB Complaint ID: ********
Gemini Trust Company, LLC (Gemini or we) has reviewed the complaint filed by ****************. We appreciate this matter being brought to our attention and the opportunity to respond. Please note that this matter has been resolved.
We have reviewed, and it appears that ******************** ***** tokens were transferred via the Polygon network, with which Gemini is not integrated. At this time, Gemini is unable to recover funds sent to the exchange via unsupported networks. Gemini supports the ****20 Polygon (*****) asset, but it does not support transfers via the Polygon/Matic network. To successfully deposit Polygon (*****) to a Gemini account, the assets must be on the Ethereum mainnet (****20 token).
We have informed **************** that we have documented his case, and we will be sure to contact him if Gemini integrates with this network and we are able to recover the tokens at some point in the future.
Please see our Unsolicited Transfer and Return of Unsolicited Transfers sections in our User Agreement:
************************************************************************
**********************************************************************************Gemini conducts a thorough review of all customer complaints received by our institution and our teams work diligently to address all customer inquiries in a timely manner.
We believe that we handled *** ******* complaint in a manner consistent with our policies and procedures and our obligations to our customers. Our Organization works everyday to improve our user experience, and strives for all customers to have a positive experience on our platform. We apologize for any inconvenience experienced by **************** as a result of this matter.
Best,
Gemini Trust Company, LLC.Initial Complaint
02/13/2024
- Complaint Type:
- Billing Issues
- Status:
- Answered
My account has been frozen for 5 months and have been trying to get it reopened. I have sent in required documents but still not able to get my account opened, now ********************** has closed my ticket. Since 1/7/24 I have sent numerous Emails but have not seen a response. No phone number to call them.Business response
02/26/2024
******** *** **** *************************** *************** ************* ** ***** ** *** *** ********* *** ********
Gemini Trust Company, LLC (Gemini or we) has reviewed the complaint filed by ******************. We appreciate this matter being brought to our attention and the opportunity to respond. Please note this matter has been escalated to the necessary teams and Gemini is working to resolve this matter as quickly as possible.
Gemini is still pending confirmation of the Authy recovery process from ******************. Once their second factor authentication (Authy) is recovered, Gemini can proceed with removing the account restriction. However, it should be noted that the restriction placed on *** ******** account cannot be removed until the requested recovery process.
Gemini conducts a thorough review of all customer complaints received by our institution and our teams work diligently to address all customer inquiries in a timely manner.
Our Organization works everyday to improve our user experience, and strives for all customers to have a positive experience on our platform. We apologize for any inconvenience experienced by ****************** as a result of this matter.
Best,
Gemini Trust Company, LLC.Initial Complaint
02/06/2024
- Complaint Type:
- Product Issues
- Status:
- Answered
This is a case where the business(GEMINI) has offered a service which they are NOT providing due to "security" concerns they have, however this hold is tied in with the fact that a specific ETF is expected to make a lot of people money and the market in which my funds will be going will allow me to thrive and this business is trying to prevent that. They may attempt to use that previous statement to prolong this issue so please remain diligent as they are not taking me seriously. I have satisfied ALL of their requests (including disclosing personal/financial proof) which is absolutely none of their business. They are acting in a fashion similar to banks as their method involves the use of their customers money to make themselves and their shareholders money while consumers receive next to nothing .01%-.05% at best. Once I move my funds out of their ****** they wont be able to "play" with my resources anymore thus negating their "success".This issue has been going on for 50+ days with NO EXPLANATION of WHY they have impeded my progress sans mentioning "security". My question is how are they allowed to hold and utilize my funds? How am I supposed to "Trust" what they are saying but they cannot "Trust" the information I have provided at their request and in fact I provide that information immediately? Yet my schedule is 50+ days behind and I am losing money by the second. They are playing God and that is not how business is supposed to be conducted because when someone pays for a service/goods they should receive that service/goods; however in my case they don't care to handle themselves in such a way.I kindly ask that you relay urgency to this company and ensure they do what they advertised as they have caused me to lose time which is the most precious resource the world will ever have and money. I simply want to move my resources to my wallet.Thank you in advance for your help in ensuring they hold up their end of the bargain as I have PAID MY DUES, LITERALLY!Business response
02/14/2024
******** *** **** *********************** *************************************************************************** *** *** ********* *** ********
Gemini Trust Company, LLC (Gemini or we) has reviewed the complaint filed by **************. We appreciate this matter being brought to our attention and the opportunity to respond. Please note that this matter has been resolved, and the restriction on **************' account has been lifted.
Gemini conducts a thorough review of all customer complaints received by our institution and our teams work diligently to address all customer inquiries in a timely manner.
We believe that we handled **************** complaint in a manner consistent with our policies and procedures and our obligations to our customers. Our Organization works everyday to improve our user experience, and strives for all customers to have a positive experience on our platform. We apologize for any inconvenience experienced by ************** as a result of this matter.
Best,
Gemini Trust Company, LLC.Initial Complaint
01/29/2024
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
Clarification: I am not a Gemini Earn customer. Just a regular ******************** user.I suspect that ******************** has flagged my account as a non-priority and are committed to not resolving my issue. I believe this because, even though I was born in the ***, remain a citizen of *******, and still live in *******, I often travel to my girlfriend's country for extended periods of time to visit her and help her renovate her apartment. My girlfriend's country is outside of Gemini's area of operation and I didn't know this. One day when I was visiting my girlfriend I logged in to my account to check my less than $5k portfolio. When I did this my account was frozen.No big deal right? I can just resolve the issue with Gemini support and not repeat the mistake right?Wrong. Even though I have cintunually provided all the documents they have asked for and returned to the US they have still kept my account frozen for over 1.5 years. It's insane. They tell me they can only unfreeze my account when I return to an area of operation or the US, but when I've done both of these things, they ignore my emails for months and then when I go back to visit my girlfriend it's too late. Now they just don't even respond to me ever. I've sent 20+ emails and they just ignore everything. I have every right to access my account while in their areas of operation and they should not be holding my account and funds hostage yet here we are.I understand less than $5k is not a lot of money for some people (especially the Winklevoss Twins who can just commit billion dollar fraud like its nothing), but that money is mine and if Gemini is going to hold it hostage than I expect nothing less than a full refund. I have filed a report with the **** asking for just this and I expect Gemini to either resolve my issue or fully refund the bank account from which my original deposits came from.Business response
02/08/2024
******** ** **** ******************************** ********************************************************************* *** *** ********* *** ********
Gemini Trust Company, LLC (Gemini or we) has reviewed the complaint filed by ************. We appreciate this matter being brought to our attention and the opportunity to respond.
This matter is pending *** ***** confirmation of his return to the **. Please note that we have placed a restriction on *** ***** account due to login activity from *******, which is outside of Geminis operational areas. Since Gemini does not operate in *******, his account will remain restricted during his trip. ************ will need to reach out to us upon his return to the US so that we may review and restore his account. Once ************ is back in the US or a country within Geminis operational areas, Gemini can lift the freeze from his account. However, it should be noted that the restriction placed on *** ***** account cannot be lifted until he is back in the US or a country within Geminis operational areas.
Gemini conducts a thorough review of all customer complaints received by our institution and our teams work diligently to address all customer inquiries in a timely manner.
Our Organization works everyday to improve our user experience, and strives for all customers to have a positive experience on our platform. We apologize for any inconvenience experienced by ************ as a result of this matter.
Best,
Gemini Trust Company, LLC.Initial Complaint
01/17/2024
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
On January 2nd 2024 I was asked by Gemini support to explain why I "have developed a pattern of deposits and withdrawals with relatively little trading." I explained to them that I was not wealthy or young but did religiously spend of portion of my bi-weekly pay to purchase crypto as an investment from their exchange. I further informed them that my phone had been SIM card hacked in September with thieves attempting to steal my crypto, thus making me not feel safe in leaving money or crypto on any exchange. Gemini responded to me by saying they were closing my account. I was not allowed to transfer the ***** dollars of crypto I did have with them. Instead, they told me that it must be sold (even if that meant taking a loss) and that I must send the cash to my back within 5 days. I understand that I am not the high-rolling day trader gambler type that they would prefer, but what is wrong with making commissions off my purchases every 2 weeks? I had even referred friends to their exchange as I had really liked Gemini's interface compared to others. I feel hurt that Gemini did not value me as a loyal customer (as I feel I was), and am hoping that their decision to terminate my account was in error.Business response
01/25/2024
******* *** **** *********************************** ******************************************* ** *** *** ********* *** ********
Gemini Trust Company, LLC (Gemini or we) has reviewed the complaint filed by ************************. We appreciate this matter being brought to our attention and the opportunity to respond. Please note that this matter has been resolved, and the funds have been returned to *** *********** account.
******************** conducts a thorough review of all customer complaints received by our institution and our teams work diligently to address all customer inquiries in a timely manner.
We believe that we handled *** *********** complaint in a manner consistent with our policies and procedures and our obligations to our customers. Our Organization works everyday to improve our user experience, and strives for all customers to have a positive experience on our platform. We apologize for any inconvenience experienced by ************************ as a result of this matter.
Best,
Gemini Trust Company, LLC.Customer response
01/26/2024
Better Business Bureau:
I have reviewed the response made by the business in reference to complaint ID# ********, and have determined that my complaint has NOT been resolved because:Gemini Closed my account and would not let me transfer my crypto holding off the exchange. Instead, they forced me to sell it so that they could make a commission on the sale and only then could I withdraw my cash to my bank account. They should not have charged and collected any fee for selling crypto that they were forcing me to sell.
In order for the BBB to appropriately process your response, you MUST answer the question above.
Sincerely,
***********************************
Initial Complaint
01/16/2024
- Complaint Type:
- Product Issues
- Status:
- Resolved
Ticket ID: ******* Ticket ID: ******* Ticket ID: ******* On November 10th I tried to deposit $6K into my account. It accidentally did this twice. I then found out that the crypto I wanted to purchase wasn't offered by Gemini, and I couldn't find way to cancel on exchange so I cancelled through bank. Gemini then froze my account on Nov. 18th. I went through KYC process and was able to reaccess my account on November 29th. On December 15th my account was frozen again. I haven't received any reason for this second freezing. **************** completely stopped answering my emails on December 22nd when I submitted KYC for the second time. On January 12th I did finally receive a template response saying they're still looking into it, and no response since. I tried tweeting at them 10+ times and no interaction from them there. At this point I just want to move my ~$12K worth of crypto since I no longer trust them. Please help!Business response
01/25/2024
******* *** **** ********************************************************* *************************************************************** *** *** ********* *** ********
Gemini Trust Company, LLC (Gemini or we) has reviewed the complaint filed by *****************************************. We appreciate this matter being brought to our attention and the opportunity to respond. Please note that this matter has been resolved, and the restriction on ******************************************** account has been lifted.
Gemini conducts a thorough review of all customer complaints received by our institution and our teams work diligently to address all customer inquiries in a timely manner.
We believe that we handled ******************************************** complaint in a manner consistent with our policies and procedures and our obligations to our customers. Our Organization works everyday to improve our user experience, and strives for all customers to have a positive experience on our platform. We apologize for any inconvenience experienced by ***************************************** as a result of this matter.
Best,
Gemini Trust Company, LLC.Customer response
01/26/2024
Better Business Bureau:
I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me and the matter has been resolved.
Sincerely,
*********************************************************
Initial Complaint
12/27/2023
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
I bought bitcoin on this platform and have been trying to transfer it to my coinbase bitcoin address for a few days now. Every time I try, an error pops up and says it has to be reviewed by the risk team. My deposit transactions have cleared and I want my bitcoin transferred to my coinbase wallet immediately. I have already spoken to an attorney this morning and will be continuing in that direction if my bitcoin is not transferred. I should have done my research first because everyone says how they were scammed by Gemini. I will not be scammed: I will file legal action by Friday if this isnt resolved! I am a disabled veteran and I am being taken advantage of!Business response
01/09/2024
******* ** **** ******************* ***** ************** *********** ** ***** ** *** *** ********* *** ********
Gemini Trust Company, LLC (Gemini or we) has reviewed the complaint filed by *****************. We appreciate this matter being brought to our attention and the opportunity to respond. Please note this matter has been escalated to the necessary teams and Gemini is working to resolve this matter as quickly as possible.
Gemini is still pending receipt of the explanation for the returned ACH deposits from *****************. Once this information is provided Gemini can proceed with removing the restriction. However, it should be noted that the restriction placed on ** ******** account cannot be removed until the requested information is provided.
Gemini conducts a thorough review of all customer complaints received by our institution and our teams work diligently to address all customer inquiries in a timely manner.
Our Organization works everyday to improve our user experience, and strives for all customers to have a positive experience on our platform. We apologize for any inconvenience experienced by ***************** as a result of this matter.
Best,
Gemini Trust Company, LLC.Initial Complaint
12/26/2023
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
December 5th 2023 I paid $20,000 into Gemini crypto exchange through Ach transfers which I received a mail that it has been cleared for withdrawal each time I buy bitcoin and I tried to withdraw it to my other wallet it shows an error message sorry bitcoin cant be withdrawn security on hold ..have contacted Gemini support for weeks to remove the hold on my account to withdraw my money at first they asked me to upload additional information which I uploaded after the asked to answer some 8 questions about the wallet and sending to and I answered it all still waiting for a response from them ..this is unprofessional I need my money refunded to my account or they lift the hold on my account this process is getting unbearable for meBusiness response
01/08/2024
******* ** **** ************** *************************** ******* ** *****
Re: BBB Complaint ID: ********
Gemini Trust Company, LLC (Gemini or we) has reviewed the complaint filed by *** ******* We appreciate this matter being brought to our attention and the opportunity to respond. Please note this matter has been escalated to the necessary teams and Gemini is working to resolve this matter as quickly as possible.
Gemini is not able to locate ****************** account using the full name, phone number, and email address provided. In order to proceed, we request for *** ****** to reach out to Gemini using this link: *********************************************************************;
*** ****** should be sure to indicate the correct email address and phone number linked to their Gemini account. However, it should be noted that the restriction placed on ****************** account cannot be removed until the requested information is provided.
Gemini conducts a thorough review of all customer complaints received by our institution and our teams work diligently to address all customer inquiries in a timely manner.
Our Organization works everyday to improve our user experience, and strives for all customers to have a positive experience on our platform. We apologize for any inconvenience experienced by *** ****** as a result of this matter.
Best,
Gemini Trust Company, LLC.Initial Complaint
12/26/2023
- Complaint Type:
- Product Issues
- Status:
- Answered
In Nov 2023, i emailed Gemini support team multiple times as i was unable to withdraw funds and crypto out of my account as my account was restricted from withdrawals, i deposited funds as well as most of my crypto over to Gemini over the course of several years. i got 1 response back from Gemini asking me to upload and verify some information, even though Gemini had no problems with me depositing funds and crypto, but had restricted from withdrawals. It is now 12/24/23 and i have yet to receive an amicable resolution for this withdrawal issue. This is unacceptable and as my account is still restricted from making any types of withdrawals. Gemini support team has yet to answer my emails after i sent and verified everything that was asked to the only email i have received from them.Business response
01/02/2024
******* ** **** *********************************** ******************************************************************************************
Re: BBB Complaint ID: ********
Gemini Trust Company, LLC (Gemini or we) has reviewed the complaint filed by ************************. We appreciate this matter being brought to our attention and the opportunity to respond. Please note that this matter has been resolved, and the restriction on *** *********** account has been lifted.
Gemini conducts a thorough review of all customer complaints received by our institution and our teams work diligently to address all customer inquiries in a timely manner.
We believe that we handled *** *********** complaint in a manner consistent with our policies and procedures and our obligations to our customers. Our Organization works everyday to improve our user experience, and strives for all customers to have a positive experience on our platform. We apologize for any inconvenience experienced by ************************ as a result of this matter.
Best,
Gemini Trust Company, LLC.Initial Complaint
12/22/2023
- Complaint Type:
- Billing Issues
- Status:
- Answered
Ticket Number: ******* Gemini holding my money against my wishBusiness response
01/05/2024
******* ** **** ********************* ************************************************ **
Re: BBB Complaint ID: ********
Gemini Trust Company, LLC (Gemini or we) has reviewed the complaint filed by ***************. We appreciate this matter being brought to our attention and the opportunity to respond. Please note this matter has been escalated to the necessary teams and Gemini is working to resolve this matter as quickly as possible.
Gemini conducts a thorough review of all customer complaints received by our institution and our teams work diligently to address all customer inquiries in a timely manner.
Our Organization works everyday to improve our user experience, and strives for all customers to have a positive experience on our platform. We apologize for any inconvenience experienced by *************** as a result of this matter.
Best,
Gemini Trust Company, LLC.
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Customer Complaints Summary
578 total complaints in the last 3 years.
132 complaints closed in the last 12 months.