Robo-advisor giant Betterment suffered a major security embarrassment on Friday after users reported receiving suspicious push notifications resembling a high-yield crypto scam. The messages urged customers to send $10,000 to Bitcoin and Ethereum wallets with the false promise that the company would “triple your crypto” to celebrate its “best-performing year yet.”
While screenshots of the alert—which some also received via email—looked like a sophisticated phishing attempt, Betterment confirmed on X (formerly Twitter) that the messages were indeed sent from their systems. The company clarified that the incident was caused by a compromise within a “third-party system,” labeling the blast an “unauthorized message.”
This incident highlights the growing risks associated with marketing supply chain vulnerabilities. Even when a primary financial platform is secure, reliance on external vendors for communication can expose users to direct fraud. Betterment is currently investigating how the unauthorized access occurred and has reassured users that their account funds remain secure.
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