The Email Experience Manager (EXM) might duplicate the base URL if an internal link is sent within a Simple HTML Message email. For example:
http://test.comand sends the current message.
http://test.com/://test.com
To resolve the issue, download and install the patch compatible with the affected product version found on this page:
https://github.com/SitecoreSupport/Sitecore.Support.208586/releases.
The issue is not reproducible in Sitecore XP 9.3 Initial Release and higher versions as the Simple HTML Message template has been removed.