New warning for budding cryptocurrency investors

New warning for budding cryptocurrency investors
(Source: Pablo)

(KAIT/NBC) - The term "cryptocurrency" has made the rounds all over the globe. However, there's a new warning for investors hoping to get rich quick off the roller coaster value in recent months.

Retiree Alan Wiener decided to invest $30,000 after researching cryptocurrency. Wiener chose Coinbase to manage that transfer, a digital currency exchange.

He wired the money from his wife's bank account to his Coinbase account, but the money never showed up.

Wiener then called and emailed several times but got no response from Coinbase.

"I'm really not willing to accept the risk that someone is going to take my money and not be responsive and return it after many, many requests," Wiener said. "A lot of times I get no response at all, and occasionally I'll get a response and we're working on your problem."

Coinbase says the name on the bank wire must match the legal name on the Coinbase account.

You must also include your unique reference code.

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