Victim Report Overview
A victim from Iowa, United States (IA 51031) reported losing $10,000 after joining a WhatsApp investment group connected to Genesis Edge Society (GES).
Thank you for reading this post, don't forget to subscribe!The scammers promoted stock analysis and futures trading opportunities while directing the victim to use a trading platform called CWBT Pro. After multiple deposits and several trades, the victim discovered that the funds had been placed in a frozen status, making withdrawals impossible.
How the Scam Began
According to the victim’s report, the scam began when the victim joined a WhatsApp community known as GES Community, which claimed to provide professional stock analysis and trading insights.
The group presented Richard Schmidt as the head of the community, although scammers frequently impersonate real individuals to create credibility.
The group administrator, Melanie Rhodes, encouraged the victim to join a “test group” that would demonstrate futures contract trading.
To gain trust, the administrator offered to provide the initial $500 trading deposit, claiming the victim could keep the profits generated from the test account.
How the Scam Escalated
After the test trading phase, the scammers gradually encouraged larger investments.
The scheme unfolded in several stages:
- The victim began trading using the $500 test investment provided by the administrator.
- The victim returned the initial $500 after generating approximately $700 in profit.
- Encouraged by apparent success, the victim deposited $1,500, which reportedly grew to $8,000 in profits.
- During a later trade, the balance suddenly disappeared after the scammers manipulated the trading activity.
- The administrator claimed the loss occurred because the victim “was not paying attention.”
The victim then deposited an additional $2,500 in an attempt to recover the losses.
Although the trading balance appeared to recover, withdrawals were permanently blocked, leaving the victim unable to access the funds.
Financial Loss
- Amount Lost: $10,000
- Victim Location: Iowa, United States
- Type of Scam: WhatsApp investment and futures trading scam
Scammer Information
The victim reported the following contact details associated with the scam:
Phone Number
(401) 399-1392
Email Address
Unknown
Claimed Scammer Location
Olympia, Washington – 98501
Associated Website
https://www.genesisedge-society.com
Website Information
Domain: genesisedge-society.com
The website reportedly promoted the Genesis Edge Society investment community and encouraged individuals to join trading groups connected to the platform.
Investment scams often rely on private messaging platforms like WhatsApp to recruit victims and manage communication away from public scrutiny.
Platform Used in the Scam
The scammers instructed the victim to download the CWBT Pro trading application, which they claimed was available through the Apple App Store.
They also encouraged the victim to transfer funds using cryptocurrency wallets, including Coinbase Wallet, which makes transactions difficult to reverse once completed.
Warning Signs of the Scam
This case reveals several clear indicators of an investment scam:
- Recruitment through WhatsApp investment groups
- Administrators offering free test investments to build trust
- Large profits displayed quickly to encourage larger deposits
- Trading apps that victims cannot independently verify
- Cryptocurrency payments requested through private wallets
- Withdrawal requests placed in “frozen” status
These tactics allow scammers to create the illusion of profitable trading while preventing victims from withdrawing funds.
What Victims Should Do
If you have interacted with Genesis Edge Society or a similar investment group:
- Stop sending money immediately
- Save all communications, screenshots, and transaction records
- Report the incident to financial authorities and cybercrime units
- Warn others about the platform to prevent further victims
FAQ
What is Genesis Edge Society (GES)?
Genesis Edge Society is an online investment group that promotes stock analysis and futures trading through WhatsApp communities and private trading platforms.
Is Genesis Edge Society regulated?
No verified financial authority currently regulates Genesis Edge Society or its trading services.
Why are withdrawals frozen on scam platforms?
Fraudulent trading platforms often freeze accounts once victims attempt to withdraw funds, preventing money from leaving the system.
Why do scammers use WhatsApp investment groups?
Scammers prefer private messaging platforms because they can control discussions, remove critics, and pressure members to invest quickly.
How Do I Genesis Edge Society?
Report Genesis Edge Society to the BR at Brokersreporter.com. Contact your bank and Coinbase immediately to dispute transactions and preserve all WhatsApp conversations and contract documents as evidence.
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