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Coinbase admits glitch that overcharged crypto customers, promises refunds

Coinbase inc., the leading cryptocurrency exchange, admitted Thursday that a glitch in its system had accidentally charged some customers multiple times for a single purchase — with some users saying their bank accounts were drained by the error.

Outraged customers have been complaining on Reddit for days about the unauthorized charges. One user reported they were charged 17 times for a $1,000 purchase. Another said a $300 purchase of bitcoin BTCUSD, +2.93% , ether and Litecoin was duplicated five times, to disastrous effect.

“My bank account went from very comfortable to negatives balance, not to mention extra $5 charges, and overdraft fees.

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