From Happy-Sci's perspective on the risks of unofficial Meme coins: Why did a $420,000 donation ultimately vanish into thin air

RektRecovery · 2026-01-14T03:40:16+00:00

The Happy-Sci project was originally intended to support researchers, but it turned into a cryptocurrency circus due to the hype around the unofficial meme token HAPPY-SCI. The project's founder Siyuan emphasized that there was no fundraising or token issuance, and ultimately the donated amounts were burned, leading to a sharp decline in the token's price and heavy losses for investors. This incident serves as a warning to investors to be cautious of hype surrounding charitable projects.

RektRecovery

2026-01-14 03:40:16

Abstract generation in progress

【Blockchain Rhythm】A charity project originally full of good intentions, how did it turn into a crypto circle farce?

The story begins like this: Siyuan, a member of YZi Labs, launched the Happy-Sci project at the end of 2024, intending to provide small unconditional donations via BNB Chain to PhD students and young researchers worldwide—usually about 200 USDT per person. The goal was simple: to alleviate academic pressure and spread a little support and happiness.

Good intentions, but the problem arose later. Someone in the community sensed an opportunity and cleverly issued an unofficial Meme token called HAPPY-SCI based on this project. This token set a 3% transaction tax, claiming all proceeds would go to donations. Sounds good? But the subsequent script completely spiraled out of control.

The community started frenzied hype, with some users even comparing it to hit Meme coins like “GIGGLE.” The market cap skyrocketed to nearly $4 million in a short period, and the donation wallet received about $420,000 worth of BNB. Seeing these numbers, ordinary investors were probably attracted.

But Siyuan soon responded to set the record straight: Happy-Sci was not fundraising or issuing tokens; it was purely a charity project. Before he finished speaking, he directly burned the BNB equivalent to that $420,000. Without official endorsement, the price of HAPPY-SCI plummeted from its high of $4 million to $160,000. How quickly investors’ dreams were shattered, how badly they lost.

This incident is worth deep reflection. Meme coins inherently lack practical application scenarios, and extreme price volatility is normal. But using charity projects as a guise for hype trading is even more dangerous. Ordinary investors driven by FOMO can easily get caught. Next time you encounter a similar “hot topic” project, be sure to stay cautious.

HAPPY-5,75%

BNB2,62%

GIGGLE8,71%

MEME2,11%

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LiquidityWitch

· 13h ago

Bro, I've seen this trick too many times. Good-hearted projects turn sour as soon as they touch coins. 42 million just disappeared like that, a typical gentle knife in the crypto world. The promised donation, in the end, is just the story of meme coin bagholders. That's why I never trust non-official project promises. Another excuse of "for scientific research," which is actually just another way to harvest retail investors.

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ContractHunter

· 13h ago

Why is it always like this? Good-hearted projects can also crash, the crypto world is really hopeless. $420,000 disappears just like that, how outrageous is that? It's always meme coins and donations, I've seen this pattern too many times. Honestly, it's still a lack of proper governance, that's all. It's most ironic that PhD students get exploited; wanting to help ends up harming them.

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TopBuyerForever

· 13h ago

This broken project is really outrageous, just feeding dogs with good intentions, huh --- 42 million just gone like that? Where is the conscience of crypto people --- Another old trick of meme coins scamming retail investors, not even a PhD can save it --- Charity projects turning into jokes in the crypto world, I just want to know where the money went --- Sympathize with these students, really need to see through the true nature of the crypto world --- Projects like this on BNB Chain have never been reliable, time to quit --- How did Siyuan come up with the idea of using coins for charity? So naive --- Around 200 yuan? I guess very few people will actually get it --- Is this the future of Web3? Forget it, I’ll stay traditional --- Every time I see this kind of news, I feel like the crypto world is hopeless

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bridge_anxiety

· 13h ago

Good grief, another act of kindness in the crypto world, and this time it even involves PhD students. Truly outrageous. $420,000 just gone like that? It was obvious from the start that meme coins doing charity is just a joke. Researchers also dare to believe in the promises of the crypto world. How naive can they be? What was promised as unconditional donation ended up with so many conditions, typical crypto scam. They really treat good intentions as a way to harvest retail investors. I've seen plenty of YZi Labs scams like this.

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LiquiditySurfer

· 13h ago

Here we go again with the same trick, kind-hearted projects + meme coins = textbook case of rug pulls --- $420,000 wasted, is this the reality of the crypto world... --- Even PhD students believe this? Truly impressive --- Always like this, full of good intentions but ending up as scam scripts --- Why must it be on-chain charity? Can't they just transfer directly? --- There’s not a single good thing about meme coins, I don’t understand why people still play with them --- What are the people at yzi labs thinking... truly outrageous --- Another scheme to make money under the guise of "decentralization" --- Full of good intentions haha, the kindness in the crypto world is worth this much --- This kind of thing is happening more and more, gotta be more cautious

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CexIsBad

· 14h ago

Is that all? Kindness projects turning into money grabs, the crypto world is truly invincible Happy-Sci's name is really ironic, not scientific at all Another scam, I just want to know where that 420,000 went Meme coins + charity = a guaranteed death combo, I can see through this trick with my eyes closed Even PhDs can't escape the毒 of the crypto world, hilarious Really treating students like fools, unconditional donations? Haha Another project running away under the guise of scientific research This is called "block" charity, a true money-grabbing machine $420,000 instantly evaporated, a miracle in the crypto world Goodwill → scam, the perfect evolution chain of the crypto world

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