Why Coinbase Dogecoin Sweepstake Winners Haven't Been Announced Amid Confusion Online

People are wondering who won a Dogecoin sweepstake held by cryptocurrency trading platform Coinbase after it said winners would be selected "on or about June 17, 2021."

Coinbase launched its Dogecoin Listing Sweepstakes on June 3, the day the cryptocurrency token became available to trade on the platform.

The platform said there potentially would be thousands of winners, with 6,000 receiving $100 in Dogecoin, 10 receiving $30,000, and one receiving up to $300,000. The estimated value of all prizes is around $1.2 million, Coinbase said.

The sweepstake ended on June 10 at 11:59 p.m. PDT, by which time entrants needed to have opted in and completed a $100 trade of Dogecoin to be eligible. Coinbase said entrants would receive an email once they had met both requirements.

In the rules of the sweepstake, Coinbase said the winners would be picked "on or about June 17, 2021."

It also stated that a list of winners would become available after all of the winners had been verified—a process that involves the completion of documents. Coinbase did not give a time estimate on how long this process would take.

Section 12 of the rules reads: "For a list of winners, send an email to winnerslist@mkpromosource.com with 'WINNERS – Coinbase Sweepstakes' as the subject line. Requests must be received by July 15, 2021. The winners list will be available after all winners have been verified."

On Thursday, members of the Dogecoin Reddit community asked if anyone had won anything.

One wrote: "I see absolutely no info on Coinbase of anyone winning anything with the sweepstakes.

"I would figure at least somebody on here would win something if not at least a few people."

Another post read: "Can someone please post when they have drawn the winners?"

Coinbase does not appear to have released any information on the sweepstake on its Twitter page. Newsweek has contacted Coinbase for comment.

In any case, the sweepstake rules state that winners will be able to claim their prizes within six to eight weeks of being verified.

The trading platform said chosen winners would be contacted via email with instructions on how to claim their prize and that winners would need to respond within 48 hours.

It said emails would come from either "no-reply@coinbase.com" or "support@coinbase.com" and that any scams should be reported to "security@coinbase.com."

Dogecoin rose to prominence this year after spiking in value in April and May to an all-time high of around $0.74, according to Coindesk data. The token was launched as a joke in 2013.

Dogecoin is currently down 6.2 percent over the last 24 hours $0.28, with a market cap of $37.5 billion. These figures are likely to change. It is unclear why the token is down.

Cryptocurrencies are notorious for their price volatility. Experts have previously warned Newsweek about the risks and dangers associated with cryptocurrency trading.

dogecoin, getty
A photo illustration shows a visual representation of the digital cryptocurrency, Dogecoin, on January 29, 2021 in The Netherlands. Coinbase launched its Dogecoin sweepstake on June 3, and it concluded on June 10. Yuriko Nakao/Getty Images