Altcoins, Cryptocurrency, Fraud and Scams, Hot News

SCAM coin already in circulation

A TikToker who made his crypto token as a gag has been amazed; he found out that his coin has become an overnight sensation. It has grown increasingly keen on his logic-defyingly famous creation.

Andre Lewis, aka Dre, who’s TikiTok handle of Dresuschrist; reported to Vice’s Motherboard that he had planned the Simple Cool Automatic Money token (SCAM) to “poke fun” at the rapidly increasing environment of shitcoins.

Lewis asserted that he had studied how to create a token, yet had been baffled with the Ethereum (ETH) protocol. which finally directed him to the Binance Smart Chain (BSC) ecosystem.

He stated,

“I looked it up, looked at Ethereum, at BSC, at Pancakeswap. I don’t have a fancy computer, so ETH was out of the window. BSC though, that shit was simple, so I just fucked around and made a coin. […] I named it, minted it for about USD 400 or 0.7 binance coin (BNB) at the time, minted 10 trillion coins, and told some people about it.”

Even though it seems that he’s just “fucking around.” Dre has formed another token monstrosity. His scam coin currently has a market cap of USD 1,502,965 per Poocoin data.

SCAM coin

Although in multiple videos, Dre has reiterated the truth that he made the token “as a joke,” he asserted that “people I don’t know have put solid cheese” into the token, which has created more than 900 members Discord channel, including a website. Replete with community-made videos about how to farm the scam token.

Where’s the future headed for SCAM?

Dre now has over 7,800 TikTok supporters. Although he appears to have posted originally about gaming, the scam token has matured to become his new favorite subject. He now alternates in showing viewers that he “didn’t intend to sell the coin” to anybody by uploading videos about buying the token.

Dre appears to be burning tokens randomly, but he claims that he “burned more tokens in three days than XRP in three years.”  

As seen on the scam official Twitter page video, he alleges that he is now “talking to developers” regarding the prospect of the coin. He is also planning to expand its “utility” – adding that the scam was “no rug-pull.”

The scam Twitter account now has more than 1,270 followers. The scam creator has commented that: 

I don’t know how to do none of this shit.

Dre also informed Vice,

“At one point, I started getting calls from relatives because motherfuckers tried to doxx me and harass my family. I made this as a joke. No one told you to buy this shit – it’s called scam, you stupid motherfucker. I didn’t do anything, I didn’t tell anyone to buy anything.”

As Dre claimed from his latest TikTok video, the scam was “about to be listed soon” on CoinGecko and CoinMarketCap. He already “put in submissions” at the data collectors. Hints that he is serious about his token. 

On Reddit, one user commented that folks “buy anything without research” and that “greed can make people go brrrr.” Another use insisted that the scam tale was not unlike that of this year’s breakaway token Dogecoin (DOGE).

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