Betterment, a financial app, sent a sketchy-looking notification on Friday asking users to send $10,000 to Bitcoin and Ethereum crypto wallets and promising to “triple your crypto,” according to a thread on Reddit. The Betterment account says in an X thread that this was an “unauthorized message” that was sent via a “third-party system.”

Chinese authorities have taken custody of Chen Zhi, the businessman at the center of what U.S. officials describe as one of the largest crypto scam and money laundering operations ever uncovered. The move places the alleged kingpin behind a multibillion-dollar “pig butchering” network directly into China’s criminal justice system,

The suspected kingpin of one of the world's largest online scam and slave-labor operations has been captured, authorities said. Chen Zhi, 38, was arrested in Cambodia and extradited to China this week,

According to the FBI, scammers caused nearly $250 million in losses in 2024, and from January through November 2025, that figure rose to $333 million.

Cambodia extradites billionaire Chen Zhi to China over a global crypto scam tied to forced labour and a record $15B bitcoin seizure.

Crypto phishing losses tied to wallet drainers fell 83% in 2025 to $83.85M, but Scam Sniffer warns attackers remain active and adapt to market cycles.