Betterment, the US-based digital investing platform and robo-advisor, has issued a public warning urging its users to disregard an unauthorized cryptocurrency promotion message that circulated on Friday, January 10, 2026. The company confirmed the notification was sent without authorization through a third-party system used for marketing and customer communications.
The fraudulent message, which appeared as both an in-app notification and in emails to some users, was framed as an official campaign celebrating Betterment's "best-performing year." It urged recipients to send up to $10,000 worth of Bitcoin (BTC) or Ether (ETH) to specified wallet addresses, with a promise that the funds would be "tripled" and returned within hours. Screenshots of the message were widely shared by concerned users on Reddit.
Betterment swiftly disavowed the promotion on social media platform X, stating, "Please note that this is not a real offer and should be disregarded." The company apologized for any confusion caused but did not disclose how many users received the message or whether any funds were lost before the warning was issued.
The scam employed classic social engineering tactics, including creating a false sense of urgency, guaranteeing unusually high returns, and requesting direct, irreversible wallet transfers—all hallmarks of crypto phishing schemes. Betterment's limited crypto offering, which allows users to gain exposure to Bitcoin and Ethereum through a linked product, may have lent the fake promotion an air of credibility.
This incident highlights the evolving threat landscape where attackers are increasingly targeting users through brand impersonation and compromised communication channels rather than purely technical exploits. It underscores the risks associated with third-party marketing and notification systems, which can become vectors for abuse even when a company's core platforms remain secure.
The news comes amid a broader context of declining but persistent crypto phishing losses. According to a report from Scam Sniffer, losses linked to wallet-draining phishing attacks fell sharply to $83.85 million in 2025, down 83% from nearly $494 million the year before. The number of victims also declined by 68% to about 106,000. However, phishing activity continues to track market cycles, with losses peaking during periods of heightened on-chain activity, such as during Ethereum's strongest rally in Q3 2025.
