Betterment's Financial App Sends Customers a $10,000 Crypto Scam Message

Betterment, a financial app, sent a sketchy-looking notification on Friday asking users to send $10,000 to Bitcoin and Ethereum crypto wallets and promising to 'triple your crypto.' The notification was sent via a third-party system, according to a thread on Reddit.

The notification was not authorized by Betterment and was sent to users without their consent. The company has since apologized for the mistake and assured users that their accounts are secure.

This incident highlights the growing concern of crypto scams and phishing attacks on financial institutions. Betterment has taken steps to prevent such incidents in the future, including implementing additional security measures to protect user accounts.

The incident has also raised questions about the responsibility of financial institutions in preventing crypto scams. Betterment has promised to take action against the third-party system that sent the notification and to ensure that such incidents do not happen again.

The incident is a reminder to users to be cautious when receiving unsolicited notifications and to verify the authenticity of such messages before taking any action.

Sources

[1] Betterment's financial app sends customers a $10,000 crypto scam message