Meme Coin HAPPY-SCI "Donation" of $420,000 destroyed, $4 million market cap nearly wiped out

On January 14, Siyuan (@cyodyssey) from YZi Labs initiated a purely charitable project called Happy-Sci at the end of 2024. The goal is to provide unconditional small donations (usually around 200 USDT per person) to PhD students and young researchers worldwide via BNB Chain, alleviating research pressure and spreading “happiness” and support. Recently, the community issued an unofficial Meme token HAPPY-SCI based on this, which has a 3% transaction tax, claiming that all proceeds are donated to the original charity address (a wallet controlled by Siyuan). The community quickly hyped this up, with some users comparing it to a “second GIGGLE,” and its market cap once approached $4 million, with the donation address receiving approximately $420,000 worth of BNB. Subsequently, Siyuan clarified that Happy-Sci is a charitable project that does not raise funds publicly and will not issue tokens, and he burned about $420,000 worth of BNB. The unofficial Meme token HAPPY-SCI then dropped in market cap to $160,000 due to lack of official endorsement. BlockBeats reminds users that Meme coins generally lack practical use cases, are highly volatile, and investing should be cautious.