Betterment Warns Users After False Cryptocurrency Promotion Promising Triple Returns

Betterment's Warning

Betterment has urged users to disregard a cryptocurrency promotion message that circulated on Friday, describing it as an unauthorized notification sent through a third-party system. The incident was reported after several users indicated they had received a message promising a limited-time cryptocurrency offer.

Screenshots shared on Reddit displayed the notification urging recipients to send amounts of up to $10,000 in Bitcoin (BTC) or Ether (ETH) to specified wallet addresses, promising that the funds would be "tripled" and returned within a few hours. The message, framed as an official promotion celebrating Betterment's "best year," employed common cryptocurrency scam tactics, including time pressure, unusually high guaranteed returns, and direct transfers to wallets.

Betterment confirmed that the message was not legitimate and stated that it was sent without authorization via a marketing system used for other customer communications. In a statement made on platform X, Betterment said, "Please note that this is not a real offer and should be ignored." The company apologized for the confusion caused by the message.