Hey, sorry to bother you guys but I’m completely lost here. A family member used my card to buy some Bitcoin, and now they can’t seem to withdraw it. It’s wrapped or something? They keep getting stuck in this loop asking for ETH. I really need some guidance, it’s stressing me out.
Need Help with Bitcoin Withdrawal Issue
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Sounds like they bought CBBTC, which is a wrapped token from Coinbase. If they used your card, it should be linked to their Coinbase account. Ask them what account they used to buy it and where the tokens are now. Hopefully it’s not in some random wallet.
Do you really trust what they’re saying? It's worth checking it out yourself. You don’t wanna just take their word for it. If they have a Coinbase account, you should see it for yourself to confirm.
Yeah, this whole thing feels sketchy to me. Requiring that much ETH just to withdraw? Sounds like a big red flag. Can you provide more details about where they bought it and who’s asking for the ETH? We need more info to help you better.
Thanks for the responses! So I got them to show me the account and changed the password. They used the Coinbase app, then transferred to the ‘Base’ wallet. Now it’s saying I need to add some amount of ETH to withdraw, but the button is greyed out.
Oh wait, you said £2 in ETH, not 2 ETH. That's a different story. Might be legit then, but yeah, that Base wallet is self-custodial. You need some of the blockchain's native coin to cover fees, which is probably why it's asking for more.
If you’re not planning to hold onto that CBBTC, you could sell it and transfer the cash to your bank. Just know you might not get the full value due to Bitcoin’s current dip.