- Betterment warned customers to ignore an unauthorized crypto promotion message sent via a third-party messaging system.
- Multiple users reported the notification and shared screenshots on Reddit that urged transfers of up to $10,000 in Bitcoin or Ether to specified wallets.
- The message used common scam tactics: time pressure, guaranteed high returns and direct wallet transfers.
- Betterment confirmed the alert was not legitimate in a post on X and apologized for the confusion.
- Separately, a report from Scam Sniffer shows crypto phishing losses fell to about $83.9 million in 2025, a sharp decline from roughly $494 million a year earlier.
Multiple customers reported on Reddit on Friday that they received a push notification appearing to offer a limited-time cryptocurrency promotion. The alert urged recipients to send up to $10,000 worth of Bitcoin (BTC) or Ether (ETH) to specific wallet addresses with a promise the funds would be tripled and returned within hours.
Screenshots shared online showed the message framed as an official promotion celebrating Betterment’s “best-performing year,” using urgency and guaranteed returns typical of scams. Some users said similar language also arrived in email messages. The notification directed users to transfer crypto directly to wallet addresses rather than through an exchange.
Betterment, a US-based digital investing platform, confirmed the message was not legitimate and said the alert was sent without authorization through a third-party system used for marketing and other customer communications. In a post on X, the company wrote “Please note that this is not a real offer and should be disregarded.” The firm apologized for any confusion.
While Betterment is not a crypto exchange, it offers crypto exposure through an integrated service linked to its platform. Security experts continue to warn customers to avoid sending funds to unknown wallet addresses.
A separate industry report from Scam Sniffer found crypto phishing losses tied to wallet drainers fell to about $83.9 million in 2025, down 83% from nearly $494 million a year earlier. The number of victims fell to roughly 106,000, a 68% drop, though losses still spiked during periods of increased on-chain activity, including about $31 million in the third quarter.
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