Meme Coin HAPPY-SCI's $420,000 "Donation" Destroyed, Nearly Wiping Out $4 Million Market Cap

BlockBeats News, January 14th, YZi Labs member Siyuan (@cyodyssey) initiated the pure charity project Happy-Sci at the end of 2024. The aim is to provide unconditional small donations (usually around 200 USDT per person) to global PhD students and young researchers through the BNB Chain, to alleviate research pressure and convey "happiness" and support.

Recently, based on this, the community issued an unofficial Meme token called HAPPY-SCI. This Meme coin has a 3% transaction tax, claiming that all of it will be used for donations to the original charity address (a wallet controlled by Siyuan). The community quickly hyped this up, with some users likening it to the "second GIGGLE." The market value once reached nearly 4 million dollars, and the donation address received approximately 420,000 dollars' worth of BNB.

Subsequently, Siyuan came forward to reiterate that Happy-Sci is a non-public fundraising and non-coin-issuing charity project, and burned around 420,000 dollars' worth of BNB. The market value of the unofficial Meme token HAPPY-SCI then dropped to 160,000 dollars as it did not receive official endorsement.

BlockBeats reminds users that Meme coins often have no practical use case, experience significant price volatility, and investment should be approached with caution.