This review of Genesis AI (GNS) brings you proofs that this investment platform is fraudulent. We explain why you have to avoid it.
What is Genesis AI
Genesis AI quantitative trading platform is presented as an internet fund management company that is applying quantitative trading to the field of digital assets.
The Genesis AI company says that it was co-founded by Elwood and One Financial.
The minimum investment or the minimum pledge is 100 USD (USDT) and daily returns on investment vary between 0.2 and 1.4%.
GNS AI offers a money back guarantee on your investment. The company supposedly is regulated by the Monetary Authority of Singapore.
But is this all true, is Genesis AI legitimate? No, it is not, it is a pure scam.
Genesis AI scam
Genesis AI is not a real company, it has no profitable trading robots. In fact, it is very probably not doing any financial trading at all. We know for sure that Genesis AI is a scam that was built to steal your money. In this Genesis AI review we provide all the details.
Fake company
Genesis AI says it was founded in the UK and that it has business in Singapore and Panama. While it is true that companies with this name are registered in the UK and Singapore, you have to know that these are only formal registrations that can be done online, they say nothing about the legitimacy of any company.
When you dig deeper, you will notice at least two major red flags concerning the company’s identity.
The first one that it provides no real contact information on its website. No address, no phone number. You will just get an e-mail address and social media accounts. That is not enough for an investment company.
What is also very alarming, is that GNS shows fake company photos on its website. Take a look at our picture below and you will see that they used stock photos while saying they show real company’s meetings. They lie about the photos, which is a huger problem.
Last but not least, the genesisquantify.com domain was first registered in July 2022, which shows it is a fairly new scam that is going to disappear quickly.
Not authorized and illegal
Genesis AI is a company that is providing crypto investment services. There is no doubt about that because they take your money and they promise that they will earn you more in financial trading.
This means that Genesis Capital needs authorizations from financial regulators in all countries they are present and they want to have clients in.
But when you search registers of the Monetary Authority of Singapore and the Financial Conduct Authority in the UK, you will see that Genesis AI is not authorized to provide any kind of financial services.
It means that the company is breaking the laws at least in Singapore and the UK and that it is an illegal investment service.
Fake money back guarantee
Not only is Genesis AI not regulated as required by the law, it also is lying about it. Because when you look at its „Money Back Guarantee“, you will see that they claim that everything was confirmed by the Monetary Authority of Singapore. Which is a lie!
Singapore’s financial regulator has not authorized Genesis AI in any way, let alone provided any confirmation of any guarantee.
The money back guarantee is totally fake, GNS gives no money back. In fact, it is doing the exact opposite, it is taking money from people and not paying anything back.
Typical scam offer
When you look at the Genesis Capital structure, promised ROI (returns on investment) and everything else, it’s clear that it is a huge scam.
It probably started as a Ponzi scheme, which means that if it ever was paying its users, it was just moving new deposits to older members for their payouts. Such a scheme always ends up in a total collapse, because it is unsustainable.
In fact, we have reviewed several similar scams that use terms such as AI or quantitative trading without having anything in common with them. For example: Esom, Afriq JM Arbitrage or Pioneers AI.
They all have been promising returns that go well above 1% per day, which always is a tell tale sign of an investment scam.
There is no legitimate human activity that can generate 1% daily returns on a sustainable basis, financial trading is not an exception.
You really can take this as a rule, if you see an investment offer with 1% or higher daily returns, it’s a scam and you should stay away.
How the Genesis AI scam works
Feedback from Genesis AI users tells us that the platform is not paying. When you deposit money, you will still see your account growing. But everything will be fake, there will be no real money in your trading account.
They will show you fake numbers on their platform. It’s when you try to withdraw money that you will see the true nature of the program. They will tell you different reasons why they can’t send you money right away.
They might say you are investigated for some bogus reason, or that you have to pay taxes before you can withdraw. But again, everything will be fake and they will just be trying to push you to send them even more money. Don’t do it, everything would be lost.
Genesis AI is doing all the transactions in cryptocurrencies, so they are irreversible. So when you get scammed by GNS, the only thing you can do is to report them to the police.
Genesis AI review – Conclusion
Genesis AI is not a real company, it is not authorized to provide investment services in any country and it is a total scam that is not paying its users.
Every deposit on the GNS platform will be lost, that is why you have to stay away from it.
Joined in October 2022. I was able to make withdrawals til Dec and then was told I was being investigated for fraudulent “gang” activities. Then in January 2023, I was told the investigation was over but I had to do a tax verification. This meant I had to put 37% of my principle in my wallet to prove I could pay taxes. I was even sent an IRS document to prove it was an official requirement. I sent the document to the IRS and they started it was fraudulent and GNS is now guilty of impersonating the IRS. My account is now frozen and drained of all funds. This is a TOTAL SCAM and I’m hoping they get caught soon before anymore people fall victim to these scumbags.
I am one of the victim of this scam. And lots of my friends and family members join this platform and we all lost our money. Its totally scam
Please stay away from this platform BIG SCAMMER
And the list goes on. Sounds like I could have wrote this, just the dates are different .
I fell for this scam because a friend who I trusted was doing it and was able to make some money. November I put in 10k and my money was growing fast and was I able to do quit a few small withdrawals. But just before Christmas GNS locked up our accounts and told us it was because the US Government was making them liquid their assets so no one is able to withdraw until further notice. Then finally almost a month later we hear back from them and this time they wanted us to add another 37% of the total funds that are in our wallet by a certain deadline because they said we won’t be able to access our money until we can prove to the IRS that we can pay our taxes. We don’t even live in the U.S. My friend asked for proof of this request from the IRS and GNS send a document that was verified fraudulent by the IRS. Because we did not add the funds GNS wanted by the deadline, all our money disappeared out of our wallets that day. GNS stole every penny and there is no way for us to get it back. There was no real trading going on with this platform. All our Team Lead did was push us hard to get more investors in and when we didn’t get investors they stopped talking to us. Seems like a big Ponzi scheme. Stay away.
I am one of the victim of this scam. And lots of my friends join this platform and we all lost our money.
Please stay away from this platform. HEARTLESS BIG SCAMMER😠
Me and my wife almost put 2.2 K USDT in this fraudulant plateform. We lost all of our money by this cruel heartless basterds. We started our investments on this plateform at the end of November as one of the friend insisted me to put some money because they were giving good earning rates. our money was growing rapidly soon they launched 45 days doubling projects with daily earning rate of 2.2 -2.8. But suddenly they stopped withdrawals. And asked for more deposit of money for verification with a rate of 29%. They sent us IRS letter but i don’t know the authenticity of this letter. Above mentioned comments suggested that its a scam. We lost all of our money sadly.
I’m sorry to hear that. The IRS letter is 100% fake, it’s just another attempt to steal more money from you.
Our total loss is 22,553 USDTs
23,000 here
My team leader packed up and left for Singapore just before Chinese New Year haven’t heard from her and can’t withdraw but I can still tap, lost $2,500 of my money and $4,000 of interest earned, I hope the FBI, interpol, or the RCMP find these people to be prosecuted and our money returned. Total scam!!!!!
If you want anything to be done, you have to report them to the police.
There is a number to call regarding digital crypto fraud, also there should be a class action law suit against various wallets that support this scam, and continue to scam.
I have been a victim of this as well
We need to press the FBI to investigate and start a class action lawsuit against Joseph!
So do it.
I have tried, but being Canadian I have been speaking to some American’s that have been scammed, hoping they will go right into an FBI office.
https://www.ic3.gov/
U.s. citizenship is irrelevant to the fbi. They used a fake irs tax document so they will want to talk to anybody affected
We are all with you
Do it sir we are all with you
Me n my wife we both have lost 22553 in total. We should proceed further tell us how. We are all with you.
23k here
I have taken this to the next level, and filed a formal complaint with our state Attorney General’s office. I have not been able to access GNS from my Coinbase Wallet for nearly two weeks. It is like they cancelled my account. Fortunately I didn’t have a whole lot invested in this fraudulent company.
Fellow traders
We really need to create our own forum. I took a LOT of screenshots on my way out. My story is nearly identical to everyone’s here. What state are you in? I dont know how much of the wallet address they need to find the owner, but- Feb 27, 7 pm eastern is when all of the telegram accounts were deleted and conversations erased.
https://www.ic3.gov/
The link for the fbi cybercrimes task force and complaint. Since most of you know exactly how much you lost, that will make it faster.
I have all the screenshots of GNS platform with investment proofs from Newton and coinbase. How we can file complaints against these culprits?
Go to the police.