Unauthorized Notification Mimics Scam Tactics Targeting Bitcoin and Ether Holders
Digital investment platform Betterment has issued a warning to customers after an unauthorized message circulated claiming to offer unusually high returns on cryptocurrency deposits. The company urged users to ignore the notification, emphasizing that it did not originate from an approved internal system.
The message, which appeared on Friday, encouraged recipients to transfer up to $10,000 in Bitcoin or Ether to specified crypto wallet addresses. It falsely promised that any funds sent would be “tripled” and returned within hours, a claim widely associated with crypto-related fraud. Several users reported receiving the alert through in-app notifications and email, raising immediate concerns.
Betterment confirmed that the communication was unauthorized and illegitimate, explaining that it was distributed through a third-party system used for marketing and customer outreach. The company publicly clarified that the offer was not real and apologized for any confusion or alarm caused.
In a statement posted on X, Betterment said;
The language used in the message closely matched common phishing and crypto scam patterns, including time-sensitive pressure, guaranteed profits, and direct wallet transfers. These warning signs prompted users to flag the message quickly across online forums.
While Betterment is primarily known for automated investing and portfolio management, it does provide limited crypto exposure through integrated services, making user awareness critical. The incident comes as crypto-related scams persist, even as reported phishing losses declined significantly in 2025, highlighting the ongoing need for vigilance in digital finance.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.