{"id":41906,"date":"2021-05-05T10:56:23","date_gmt":"2021-05-05T07:56:23","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=41906"},"modified":"2025-08-30T20:54:14","modified_gmt":"2025-08-30T17:54:14","slug":"tiktok-creator-launches-scam-coin-market-cap-surges-to-70-million-within-an-hour","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/tiktok-creator-launches-scam-coin-market-cap-surges-to-70-million-within-an-hour\/","title":{"rendered":"TikTok creator launches SCAM coin; market cap surges to $70 million within an hour"},"content":{"rendered":"<p>TikTok creator Andre Lewis, known by the alias Dre, created the cryptocurrency Simple Cool Automatic Money (SCAM) as a joke. Within an hour its market capitalization rose to $70 million, <a href=\"https:\/\/www.vice.com\/en\/article\/m7eeq8\/this-tiktokers-scam-cryptocurrency-took-off-and-he-cant-believe-it\" target=\"_blank\" rel=\"noopener\">reports<\/a> Vice.<\/p>\n<blockquote class=\"tiktok-embed\" style=\"max-width: 605px; min-width: 325px;\" cite=\"https:\/\/www.tiktok.com\/@dreesuschrist\/video\/6953787343132232966\" data-video-id=\"6953787343132232966\">\n<section><a title=\"@dreesuschrist\" href=\"https:\/\/www.tiktok.com\/@dreesuschrist\" target=\"_blank\" rel=\"noopener\">@dreesuschrist<\/a><\/p>\n<p><a title=\"greenscreen\" href=\"https:\/\/www.tiktok.com\/tag\/greenscreen\" target=\"_blank\" rel=\"noopener\">##greenscreen<\/a> who else you know can do this with no help in an hour? <a title=\"crypto\" href=\"https:\/\/www.tiktok.com\/tag\/crypto\" target=\"_blank\" rel=\"noopener\">##crypto<\/a> <a title=\"cryptok\" href=\"https:\/\/www.tiktok.com\/tag\/cryptok\" target=\"_blank\" rel=\"noopener\">##cryptok<\/a> <a title=\"honestdre\" href=\"https:\/\/www.tiktok.com\/tag\/honestdre\" target=\"_blank\" rel=\"noopener\">##honestdre<\/a> <a title=\"dreworkd\" href=\"https:\/\/www.tiktok.com\/tag\/dreworkd\" target=\"_blank\" rel=\"noopener\">##dreworkd<\/a><\/p>\n<p><a title=\"\u266c SOLD OUT - Devin Kennedy\" href=\"https:\/\/www.tiktok.com\/music\/SOLD-OUT-6774247896184260609\" target=\"_blank\" rel=\"noopener\">\u266c SOLD OUT \u2014 Devin Kennedy<\/a><\/p>\n<\/section>\n<\/blockquote>\n<p><script async=\"\" src=\"https:\/\/www.tiktok.com\/embed.js\"><\/script><\/p>\n<p>Dre explained that SCAM mocks shitcoins that use Pump &#038; Dump schemes to pump liquidity:<\/p>\n<blockquote>\n<p>&#8220;When the bastards created the ASS token, that was the last straw for me. I wondered how the hell people are using these coins? I don&#8217;t have a fancy computer, so [the option of creating a token on the blockchain] Ethereum was out immediately. Binance Smart Chain was simple enough, so [on it] I jokingly created the coin&#8221;.<\/p>\n<\/blockquote>\n<p>For 0.7 BNB (about $400 at the time), Dre issued 10 trillion SCAM.<\/p>\n<blockquote>\n<p>&#8220;I initially wanted to name it &#8216;SCAM,&#8217; but realized I needed a cooler name, so I came up with the expansion\u2014Simple Cool Automatic Money [&#8216;Simple Cool Automatic Money&#8217;]. This explains how people invest in frankly speculative tokens,&#8221; the TikTok influencer said.<\/p>\n<\/blockquote>\n<p>As of writing, SCAM&#8217;s market capitalization stood at over $1.8 million, with the price per token at $0.000045. The number of holders exceeded 1,600 accounts.<\/p>\n<p>A community around the coin called Scamily emerged, members of which built the project&#8217;s website. There is also a Discord channel dedicated to SCAM, with more than 2,000 members.<\/p>\n<p>In addition to the attention, Dre faced harassment when the coin&#8217;s price began to swing:<\/p>\n<blockquote>\n<p>&#8220;At one point my relatives started calling me because the bastards tried to doxx me and harass my family. I did this as a joke. No one told you to buy this crap \u2014 it&#8217;s called SCAM, you idiots,&#8221; the TikTok influencer said.<\/p>\n<\/blockquote>\n<p>Dre plans to use the SCAM coin for something useful. The Scamily project roadmap on scamily.io includes plans to create a white paper, conduct an audit, develop token-use scenarios, and seek strategic partners.<\/p>\n<p>To increase SCAM&#8217;s value, a portion of the tokens were burned: 9.95 trillion of the 10 trillion coins were sent to the address <a href=\"https:\/\/bscscan.com\/address\/0x000000000000000000000000000000000000dead\" target=\"_blank\" rel=\"noopener\">0x000000000000000000000000000000000000dead<\/a>.<\/p>\n<p>Dre himself owns 9.8% of all tokens.<\/p>\n<div id=\"attachment_133943\" style=\"width: 1326px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-133943\" class=\"size-full wp-image-133943\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Opera-Snimok_2021-05-05_152644_scamily.io_.png\" alt=\"TikTok creator launches SCAM coin; market cap surges to $70 million in an hour\" width=\"1316\" height=\"958\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Opera-Snimok_2021-05-05_152644_scamily.io_.png 1316w, https:\/\/forklog.com\/wp-content\/uploads\/Opera-Snimok_2021-05-05_152644_scamily.io_-300x218.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/Opera-Snimok_2021-05-05_152644_scamily.io_-1024x745.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/Opera-Snimok_2021-05-05_152644_scamily.io_-768x559.png 768w\" sizes=\"auto, (max-width: 1316px) 100vw, 1316px\" \/><\/p>\n<p id=\"caption-attachment-133943\" class=\"wp-caption-text\">Data: Scamily.io.<\/p>\n<\/div>\n<p>Dre hopes his project will teach others to create their own cryptocurrencies and invest in this market wisely.<\/p>\n<p>Back in May 2019, the Uniswap exchange released <a href=\"https:\/\/forklog.com\/en\/news\/in-dogecoins-wake-unisocks-meme-token-surges-to-92500\">500 meme tokens Unisocks (SOCKS)<\/a>, priced at $12 each. In February 2021 the token&#8217;s price surpassed $92,500. It could be exchanged for a real pair of socks.<\/p>\n<p>Follow ForkLog news on Telegram: <a href=\"https:\/\/t.me\/forklogfeed\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog Feed<\/a> \u2014 the full news feed, <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog<\/a> \u2014 the most important news, infographics and opinions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>TikTok creator Andre Lewis, known by the alias Dre, created the cryptocurrency Simple Cool Automatic Money (SCAM) as a joke. Within an hour its market capitalization rose to $70 million.<\/p>\n","protected":false},"author":1,"featured_media":41907,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1718,1589,596],"class_list":["post-41906","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-fun","tag-tiktok","tag-tokens"],"aioseo_notices":[],"amp_enabled":true,"views":"71","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/41906","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=41906"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/41906\/revisions"}],"predecessor-version":[{"id":41908,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/41906\/revisions\/41908"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/41907"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=41906"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=41906"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=41906"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}