Betterment Confirms Unauthorized Crypto Scam Alert Sent to Users

Betterment warns users about fraudulent messages, claiming to offer triple returns on $10,000 Bitcoin or Ethereum transfers, sent by a third-party system.

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Summary

Betterment has alerted users about a fraudulent message urging them to send $10,000 in Bitcoin or Ethereum for promised triple returns. The company confirmed the message was unauthorized, originating from a third-party system, and reassured users that no internal systems were compromised.

Terms & Concepts
  • Betterment: A U.S. online financial advisory and investment platform offering automated portfolio management.
  • Bitcoin: A decentralized digital currency allowing peer-to-peer transactions on a blockchain network.
  • Ethereum: A blockchain platform supporting cryptocurrency and smart contracts (self-executing blockchain code).