A go to to Genesis Funding’s web site reveals a generic fintech web site. Generic advertising waffle with “algorithmic buying and selling options”, you get the thought.
Oddly sufficient although when signing up as a Genesis Funding affiliate although, a well-known emblem pops up.
MabCredit was one other generic fintech web site Ponzi scheme that launched someday between 2021 and 2022.
Following regulatory fraud warnings from the Netherlands, Belgium and Australia, MabCredit collapsed earlier this month.
On the time of its collapse MabCredit rolled out a “DAPP Community” exit-scam. The ruse was onboarding accounts onto a fictional community whereas MabCredit’s admins finalized stealing invested funds.
Genesis Investments operates from the area “invest-genecis.professional”, privately registered on February seventh, 2024. From this date we will confirm MabCredit’s eventual exit-scam was deliberate.
Genesis Funding’s Ponzi ruse supplied is extra of the identical, passive returns supplied by means of obscure representations of bot buying and selling. Oh and 75% of generated returns have to be reinvested.
On the MLM aspect of issues we now have Genesis Funding’s paying referral commissions down three ranges of recruitment:
On the time of its collapse, the vast majority of MabCredit web site visitors originated from Canada (46%), the Netherlands (41%) and Denmark (13%).
Up to now it appears solely Dutch victims have migrated to Genesis Funding. SimilarWeb tracked 100% of Genesis Funding’s web site visitors from the Netherlands for Could 2024.
This was the month MabCredit collapsed although. If you would like a extra correct image of the place the suckers getting double scammed are from, lookup Genesis Funding’s stats on SimilarWeb subsequent month.
In any occasion, as MabCredit’s victims have discovered, MLM Ponzi schemes collapse with out discover. Reboot scams don’t final so long as their predecessors, so anticipate Genesis Funding to abruptly collapse over the subsequent few weeks/months.