A sudden increase of 430,000 USDT assets in the wallet—any normal person would have long been unable to sleep, planning how to get rich quickly. But this big shot simply destroyed it with a single click, leaving over 2,800 coin holders collectively stunned—this move completely exposed the value distortion in the crypto world. Even many industry insiders were forced to come forward and speak out.

I’ve been working in the on-chain data field for five years, and today I’ll clarify the ins and outs of this incident for you. After reading this, you’ll understand who is truly sticking to their bottom line and who is actually just swimming naked.

**Where did the 430,000 USDT come from?**

The origin of this matter is actually quite heartwarming. A person named Siyuan has been deeply involved in the blockchain ecosystem. Because he endured many hardships during his PhD studies, he wanted to create a purely公益项目—using crypto assets to fund financially struggling PhD students and researchers. Many industry insiders also donated directly to support this, which sounds quite commendable.

But the sniffing ability of crypto people is truly sharp. When the Chinese community saw the combination of "charity + industry KOL," they immediately sensed an opportunity for hype. They spontaneously created a meme coin with the same name, riding on the trend. Even more outrageous, they added a 3% buy and sell tax to the coin, with all transaction taxes automatically flowing into Siyuan’s wallet—seemingly "supporting charity."

**From "charity" to "cutting leeks" is just one step**

The subsequent routine is all too familiar: building a community, recruiting KOLs to promote, organizing various lotteries, and even setting up a fake donation detail website. In this way, a completely unauthorized, no-cooperation-relationship "hype coin" was driven up to over 2,800 holders. As trading volume increased, the taxes accumulated in Siyuan’s wallet also grew—eventually leading to that 430,000 USDT.

But here’s the problem: this money didn’t come through normal channels at all. Every cent reeked of fraud and false advertising. So that big shot ultimately chose to destroy it. Rather than being noble, it was more like an unavoidable but necessary conclusion.