Betterment's Crypto Scam Alert: Users Targeted with $10,000 'Triple Your Crypto' Fraud

Financial App Betterment Sends Unauthorized Crypto Scam Notification

Betterment, a popular financial app, sent out a sketchy-looking notification on Friday that asked users to send $10,000 to Bitcoin and Ethereum crypto wallets with the promise to 'triple your crypto'. This alarming message was reported in a thread on Reddit, where users shared screenshots and expressed concerns about the legitimacy of the offer.

According to Betterment's official account on X, this was an 'unauthorized message' sent via a 'third-party system' used for marketing and customer communications. The company has since clarified that this is not a real offer and should be disregarded, apologizing for any confusion caused.

The Scam Notification Details

The notification, as captured in a screenshot from the Reddit thread, read:

We’ll triple your crypto! (Limited Time)

Bryan: Betterment is giving back!

We’re celebrating our best-performing year yet by tripling Bitcoin and Ethereum deposits for the next three hours.

For example, if you send $10,000 in Bitcoin or Ethereum, we’ll send you right back $30,000 to your sending Bitcoin or Ethereum address.

Send deposits to these addresses:

Some users also reported receiving similar notifications via email, highlighting the widespread nature of this scam attempt. Betterment's response on X emphasized the importance of vigilance:

Earlier this evening you may have received a message referencing a crypto-related Betterment promotion. This was an unauthorized message sent via a third-party system we use for marketing and other customer communications.

Please note that this is not a real offer and should be disregarded. We apologize for any confusion.

This incident underscores the growing risks of crypto scams targeting users through legitimate platforms. It serves as a critical reminder for investors to always verify offers and be cautious of unsolicited messages promising high returns.