Scamcoin is a digital token created on the blockchain to take out money from the pockets of investors in a dishonest way. The primary goal of this digital token is to scam people of their money. After the issuance of this token and raising funds, these tokens are left behind by their developers, leaving holders with no way to recoup their investments.

With the rise in fame of crypto assets and especially Bitcoin, a lot of malpractitioners believe scamcoin as one of the opportunities to draw out money from eager investors.