Betterment Warns Users After Fake Crypto Promotion Promised Triple Returns

Betterment has warned users to disregard a crypto promotion message that circulated on Friday, describing it as an unauthorized notification that was sent through a third-party system.

The incident surfaced after multiple users reported receiving a message that appeared to promote a limited-time cryptocurrency offer. Screenshots shared on Reddit showed the notification urging recipients to send as much as $10,000 worth of Bitcoin (BTC) or Ether (ETH) to specified wallet addresses, with a promise that the funds would be “tripled” and returned within hours.

The message, framed as an official promotion celebrating Betterment’s “best-performing year,” closely mirrored common crypto scam tactics, including time pressure, unusually high guaranteed returns and direct wallet transfers. Some users said similar language also appeared in email messages.

Related: ‘Hundreds’ of EVM wallets drained in mysterious attack: ZachXBT

Betterment disavows crypto promotion message

In a statement posted on X, Betterment confirmed that the message was not legitimate. The company said the notification was sent without authorization via a third-party system used for marketing and other customer communications.

“Please note that this is not a real offer and should be disregarded,” Betterment wrote, adding that it apologized for any confusion caused by the message.

Betterment is a US-based digital investing platform best known as a robo-advisor that automatically builds and manages diversified portfolios using low-cost ETFs, along with cash management and retirement accounts.

While it is not a crypto exchange, Betterment does offer crypto investing as a linked product, allowing users to gain exposure to assets like Bitcoin and Ethereum through its platform via an integrated crypto service.

Related: Crypto hack counts fall, but supply chain attacks reshape threat landscape

Crypto phishing losses fell 83% in 2025

Crypto phishing attacks linked to wallet drainers dropped sharply in 2025, with total losses falling to $83.85 million, down 83% from nearly $494 million a year earlier, according to a report from Scam Sniffer. The number of victims also declined to about 106,000, a 68% drop year over year, as overall market activity cooled.