Betterment warns users of triple returns promised after fake crypto promotion
Betterment warned users to ignore a crypto promotion message that circulated on Friday, describing it as an unauthorized notification sent by a third-party system.
The incident happened after many users reported receiving a message advertising a limited-time cryptocurrency offer. Screenshots shared on Reddit showed recipients sending up to $10,000 worth of Bitcoin (BTC) or Ether (ETH) to specific wallet addresses, with the promise that the money would be “tripled” and returned within hours.
The message, designed as an official promotion celebrating Betterment's “year of best performance,” closely mirrored common crypto scam tactics, including time pressure, unusually high guaranteed returns, and direct wallet transfers. Some users have reported that the same language appears in email messages as well.
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In a statement posted on X, he confirmed that the message was not legitimate. The company said the ad was sent without permission by a third party for marketing and other customer communications.
“Please note this is not a discount,” Betterment apologized for any confusion caused by the message.
Betterment is a US-based digital investment platform known as a robo-advisor that automatically builds and manages diversified portfolios using low-cost ETFs along with cash management and retirement accounts.
Although not a crypto exchange, Betterment offers crypto investing as a connected product, allowing users to gain exposure to assets such as Bitcoin and Ethereum through an integrated crypto service.
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By 2025, crypto mining losses will be reduced by 83 percent
In 2025, crypto-phishing attacks linked to phishing devices dropped significantly, with total losses falling to $83.85 million, down 83 percent from $494 million a year ago, according to Scam Sniffer's report. The number of victims fell to about 106,000, a 68% year-over-year decline, as overall market activity slowed.
However, mining losses still followed the cycles of the crypto market, during periods of high onchain activity, especially in the third quarter when Ethereum posted its strongest rally and losses reached $31 million.
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