Betterment has issued a warning to its users regarding a fraudulent cryptocurrency promotion that circulated on Friday. The company clarified that the unauthorized message was disseminated through a third-party marketing system, misleading users into thinking they could triple their investments in Bitcoin (BTC) or Ether (ETH) within hours.
Screenshots shared by users on Reddit revealed the scam's content, which encouraged individuals to transfer up to $10,000 to specific wallet addresses. The communication falsely claimed to celebrate Betterment's "best-performing year," utilizing tactics typical of crypto scams, such as high returns and urgency.
In a statement on X, Betterment emphasized that this notification was not legitimate and urged recipients to ignore it. The platform, renowned as a robo-advisor for managing diversified portfolios, does not operate as a crypto exchange, although it provides linked services for cryptocurrency investments.
Betterment expressed regret over the confusion caused by the misleading message and encouraged users to be cautious of similar scams in the future.