**Betterment Confirms Data Breach: Phishing Scam Notifications Sent to Customers**
Investment platform Betterment has confirmed that it was the target of a recent data breach, with its infrastructure used to send out phishing emails to customers.
The company revealed the news in a data breach notification published on its website, stating that an unidentified threat actor managed to trick one of its employees into sharing login credentials for a third-party software platform it uses. "This means the individual used identity impersonation and deception to gain access, rather than compromising our technical infrastructure," the notification reads.
The attackers then used their access to send "fraudulent, crypto-related messages that appeared to come from Betterment" to a "subset" of customers. While the company did not disclose how many people were targeted in this attack, it emphasized that it takes cyberattacks "very seriously", revoked the unauthorized access, and launched a "comprehensive investigation".
"We encourage all customers to remain vigilant and be cautious of unexpected communications," Betterment concluded. "Please remember that Betterment will never call, text, or email you with a request to share your password or other sensitive personal information."
**Sensitive Personal Data Compromised**
Unfortunately, the attackers managed to walk away with sensitive personal data from customers, including names, email addresses, postal addresses, phone numbers, and dates of birth. While no customer accounts were compromised in this attack, users are advised to be cautious, as the attackers may use this information to launch convincing phishing attacks.
The stolen data could potentially lead to a significant loss of funds for unsuspecting customers, especially considering that Betterment is used for automated investing. Cybercriminals may attempt to compromise accounts through these phishing scams, leading to financial losses for those who fall victim.
**Investigation Ongoing**
At this time, no hacking group has claimed responsibility for the attack, and there is no evidence of the data being abused in the wild. Betterment stressed that its security measures protect users by multiple layers of defense, but customers are still advised to remain vigilant and cautious of unexpected communications.
As the investigation into the breach continues, customers should be aware of the potential risks associated with phishing scams and take necessary precautions to safeguard their accounts. By staying informed and being cautious, individuals can minimize their risk of falling victim to these types of attacks.
**Protecting Yourself**
To stay safe from similar cyberattacks, users are advised to:
* Remain vigilant and be cautious of unexpected communications * Never share sensitive personal information via email or phone * Use strong passwords and enable two-factor authentication for added security * Regularly review account activity and report any suspicious transactions
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