UFC Star Khamzat Chimaev and Manager Majdi Shammas Caught in SMASH Coin Scam

The new emergence of controversies in the cryptocurrency realm includes UFC fighter Khamzat Chimaev and the SMASH coin, a meme coin that fell to drastically low levels.

UFC fighter Khamzat Chimaev recently faced backlash over his involvement in the SMASH coin controversy, a meme coin that experienced a drastic decline. This has sparked debates regarding insider trading, leaving fans and investors困惑不堪。

Chimaev's manager, Majdi Shammas, has now addressed the public to clarify the events, expressing his concerns over the fighter's direct approach to posting his sentiments on social media. However, renowned blockchain investigator ZachXBT has provided a crucial response to the unfolding narrative.

The Rise and Fall of SMASH CoinJust a few days prior, Chimaev actively promoted the SMASH coin, notably using the term "smash" to describe this new currency. However, within hours, the value of the new coin experienced a dramatic drop, plummeting to less than 5% of its original price, prompting accusations of insider trading. What began as a promising investment quickly turned sour for many.

Manager's AccountAccording to Shammas, a group claiming to be Chimaev's fans approached him and requested a promotional video for the coin. "I was approached by a group of people who claimed to be fans of Khamzat and asked for a promo video for the SMASH coin," he stated, adding, "I obliged to that, nothing more, nothing less."

Chimaev himself also promoted the coin in a now-deleted video, where he says, "There is one crypto coin about me. They call it SMASH. Let's 'smash' together, guys. Let's go." This endorsement further fueled the narrative when the coin's price crashed.

ZachXBT's AnalysisBlockchain investigator ZachXBT provided an in-depth analysis of the SMASH coin scandal, detailing the events leading up to the drastic price decline. ZachXBT's investigation revealed that Chimaev was ’deeply invested’ in the token and used his name, image, and likeness to promote the item. The SMASH coin team, consisting of around seven individuals, purchased nearly all the tokens and attempted to conceal their involvement to inflate the token's price. Within 24 hours of being called out, Chimaev swiftly deleted all his posts referencing the token.

Unfortunately, the token's price crashed by over 95%, and numerous investors were left with pumps and dumps - empty pump handles and feelings of betrayal.

The SMASH coin scandal highlights the inherent issues associated with celebrities-cryptocurrency interactions and the crucial need for proper investigation. Whether Chimaev and his team can regain the trust of his fans and return to the level of support he previously enjoyed remains to be seen, but this story has undeniably left a mark on the wrestler's career.

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