Betterment has warned its users about a fraudulent alert promising to triple Bitcoin and Ethereum deposits, which was sent via a compromised third-party communications tool. The scam message, falsely claiming to be from Betterment, urged users to transfer up to $10,000 in cryptocurrency within a three-hour window to specific wallet addresses. Betterment quickly disavowed the scam, emphasizing that no such promotion exists and advising users to disregard the message.
The incident highlights the vulnerabilities in fintech security, particularly when external vendors are involved. Betterment confirmed that its core systems and user accounts were not breached, and the issue was isolated to the third-party tool. Users are advised to verify communications through official channels and report any suspicious activity to authorities. The company is investigating the breach with its vendor, while urging users to remain cautious against similar scams.
Betterment Alerts Users to Fake Crypto Triple-Return Scam
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