Betterment Warns Users of Unauthorized Crypto Promotion

Investment platform Betterment has issued a warning to users regarding an unauthorized message circulating about cryptocurrency deposits. The message falsely claims that the company will "triple" Bitcoin and Ether deposits sent within a specific time frame.

Users are urged to ignore these communications and not to send funds. The fraudulent message specifically targets investors by promising high returns on transfers of $10,000 to crypto wallets. Betterment emphasizes that this promotion is not legitimate and poses a significant security risk to investors.

A fraudulent message is currently targeting Betterment users, claiming the platform will "triple" cryptocurrency deposits. The message specifically mentions Bitcoin and Ether, urging users to act quickly to take advantage of the offer.

The scam attempts to create a sense of urgency by limiting the time window for the alleged promotion. It directs users to transfer funds to external crypto wallets, bypassing standard security protocols. The specific amount requested in the message is $10,000.

Betterment has categorized the message as unauthorized and is urging users to disregard it entirely. The company advises that any communication promising unrealistic returns on cryptocurrency deposits should be treated with extreme caution.

Investors are reminded to verify all account activity directly through the official Betterment app or website. Users should not click on links in suspicious emails or text messages. If users have already engaged with the message, they are advised to secure their accounts immediately.

This incident reflects a broader trend of cryptocurrency scams targeting investors through social engineering and phishing. Scammers often impersonate trusted financial institutions to steal funds or personal information.

Protecting digital assets requires vigilance. Users should always:

• Verify the sender of any financial communication
• Avoid clicking on unsolicited links
• Never share private keys or seed phrases
• Report suspicious activity to the platform immediately