(Natural News) There is no longer any question about it: Coinbase is a massive fraud and appears to be engaged in widespread criminal conspiracy. Coinbase is the most popular online wallet for Bitcoin, and I have previously reported on how Coinbase has seized Bitcoins from users in Wyoming and Hawaii, preventing them from accessing their coins even if they move their residency to a different state.

Coinbase is currently taking WEEKS to respond to urgent queries, I'm being told, and they provide no working mechanism whatsoever for users in Wyoming or Hawaii to change their state of residency. When those users attempt to login to upload new IDs or change their address, they are given "Unable to create account" errors which state that "Coinbase has indefinitely suspended its business…" in their old state. In effect, Coinbase has stolen all the Bitcoins from users in those states and may have already absconded with those Bitcoins.

Coinbase declares it will suspend / seize all accounts on August 1st

Now, Coinbase is declaring that it will not support the "hard fork" in Bitcoin being rolled out on August 1st — part of the Bitcoin "civil war" now unfolding by the week — and that it will seize all accounts during the hard fork switchover, blocking any ability to buy, sell or trade Bitcoin for its users. From the con artists at Coinbase who don't answer to anyone:

The User Activated Hard Fork (UAHF) is a proposal to increase the Bitcoin block size scheduled to activate on August 1. The UAHF is incompatible with the current Bitcoin ruleset and will create a separate blockchain. Should UAHF activate on August 1, Coinbase will not support the new blockchain or its associated coin.

This means, in effect, that holders of Bitcoin in Coinbase could lose a huge portion of their holdings if the UAHF becomes the predominant new blockchain. Bitcoins held in the older, "classic" blockchain may plummet in value as users flee the system and sell off their holdings to leap to the UAHF. No doubt Coinbase will, at any time of its choosing, seize all user accounts for any reason it wants, publishing some absurd explanation to its users.