Popular automated investing platform Betterment suffered a significant security embarrassment on Friday, confirming that its systems were utilized to push a blatant cryptocurrency scam to users. The incident, first flagged on Reddit, involved a sketchy notification urging customers to wire $10,000 to specific Bitcoin and Ethereum wallets.
The fraudulent message promised to “triple your crypto” as part of a supposed celebration of the company’s “best-performing year yet.” While Betterment swiftly responded on X (formerly Twitter) labeling the message as “unauthorized” and originating from a “third-party system,” the event highlights the vulnerabilities inherent in modern financial app infrastructure.
This breach of trust serves as a critical reminder for users to remain vigilant. Even legitimate, established financial apps can be compromised—or have their third-party integrations hijacked—to distribute phishing attempts. Never action investment advice that arrives via unsolicited push notifications or demands an immediate crypto transfer.
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