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 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 () or Ether () 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.

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Betterment disavows crypto promotion message

In a statement 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.

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Crypto phishing losses fell 83% in 2025

Crypto phishing attacks linked to wallet drainers , 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.

However, phishing losses still tracked crypto market cycles, peaking during periods of heightened onchain activity, particularly in the third quarter when Ethereum posted its strongest rally and losses reached $31 million.

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