Khamzat Chimaev breaks silence on SMASH coin scam allegations, shares video by fan group clearing the air
Embattled UFC fighter Khamzat Chimaev has addressed the recent controversy surrounding his promotion of the SMASH meme coin, which plummeted in value shortly after launch.
Chimaev, recovering from an illness that forced him to withdraw from his last fight, faced accusations of promoting a pump-and-dump scheme after a video promoting the Solana-based coin appeared on his social media.
Previously, Chimaev's manager took responsibility, admitting he "agreed to record a short video promoting their launch" without proper scrutiny. The manager apologized to Chimaev and fans, stating:
"I want to comment the recent reports on the SMASH meme coin. I was approached by a group claiming to be fans of my client Khamzat Chimaev. They wanted to record a short video promoting their launch. So I agreed to that, nothing more nothing less. Maybe I was mislead. Khamzat wasn’t involved and know just as little as you do. So the news is really unpleasant and I’m seeking an explanation from those responsible. My apologies to Khamzat and all others of you affected by this, if I could have done anything differently. Thank you for your understanding, I’ll keep you updated."
Check out the manager's post below:
Now, Chimaev himself has seemingly endorsed a video posted on his social media platform by a purported member of the SMASH token team. The video claims the developers never had direct contact with Chimaev, potentially absolving the fighter of any intentional wrongdoing.
Check out the clip below:
How was the crypto scam involving Khamzat Chimaev busted?
Khamzat Chimaev's situation was unraveled when popular blockchain investigator ZachXBT delved into the token's activity on X.
ZachXBT's investigation exposed suspicious movements aligned with a pump-and-dump scheme, in which celebrities endorse a cryptocurrency to inflate its price before selling their holdings for a significant profit.
This tactic often leaves unsuspecting investors with plummeting investments. The investigator was reportedly able to connect Chimaev to the scheme by tracing the involved cryptocurrency.
Check out ZachXBT's post below: