Is Coinbase safe?
- Fee on a $1,000 buy
- Shown at checkout
- Bank withdrawal time
- 1–5 days
- Coins
- 407
In the US, Coinbase's customers deal with Coinbase, Inc, a company with a New York licence. Any crypto you keep on Coinbase has no FDIC insurance. On record are 4 dated incidents involving Coinbase, and each one comes with sources.
Where Coinbase is licensed and registered
Coinbase, Inc runs Coinbase's US business.
In New York, Coinbase's licence or charter comes from NYDFS.
The state licences Coinbase holds appear on its licences page.
Has Coinbase ever been hacked? Incidents and enforcement history
Every Coinbase incident here links back to the regulator or company statement behind it.
| Date | What happened | Source |
|---|---|---|
| May 15, 2025 | Coinbase said that support agents overseas, once bribed, copied customer data of under 1% of the users transacting each month, and it refused a $20 million ransom. | coinbase.com |
| February 27, 2025 | The SEC filed a joint stipulation to dismiss the civil enforcement action it had against Coinbase. | sec.gov |
| June 6, 2023 | The SEC charged Coinbase for acting as an exchange, broker and clearing agency without registration, and over its staking program. | sec.gov |
| January 4, 2023 | NYDFS settlement: Coinbase agreed to pay a $50 million penalty and put $50 million into its compliance program. | dfs.ny.gov |
How your funds are held
Coinbase on custody: it says customer assets are held 1:1 and aren't lent out without permission; as a public company it's audited every year.
On the pages we read, Coinbase publishes no proof-of-reserves attestation.
For account security, Coinbase auto-enrolls 2FA, supports security keys and allows multi-approval withdrawals in Coinbase Vault.
Scams that target users, including Coinbase text scams
When a text shows a Coinbase code you didn't ask for, someone may have your password, or may want you to call a fake support number. Don't call any number in that text; set a new password in the Coinbase app and switch on a security key.
Is Coinbase FDIC insured?
Coinbase on insurance: cash in USD goes into pooled custodial accounts set up for pass-through FDIC (or NCUSIF) insurance of up to $250,000 per person.
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The questions people ask
Is Coinbase legit?
Coinbase is a real business, yes: its US customers are served by Coinbase, Inc, and 4 dated incidents appear on this page with sources.
Is crypto stored on Coinbase FDIC insured?
Crypto isn't covered. According to Coinbase, cash USD goes into pooled custodial accounts designed for pass-through insurance through FDIC (or NCUSIF), which covers up to $250,000 for each person.
If a Coinbase code I did not request comes in, what should I do?
Take it as a warning. If a text arrives with a Coinbase code you never asked for, someone may have your password, or may want you to call a fake support number. Don't call any number in that text; set a new password in the Coinbase app and switch on a security key.