UFC fighter Khamzat Chimaev launches crypto, immediately collapses over rumors

UFC fighter Khamzat Chimaev, who has not fought in nine months, has ventured into the crypto market and launched his own memecoin.

On Tuesday, the Russian-born wrestler asked his fans which cryptocurrency he should invest in, a common strategy among celebrities looking to launch their own token.

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SMASH immediately collapses

And indeed, the next day, Chimaev announced his own Khamzat memecoin “SMASH,” named after his famous motto to “destroy” anyone who stands in front of him.

“There is a cryptocurrency about me – they call it SMASH,” Chimaev said in a now deleted tweet. ‘Let’s smash together guys – let’s go.’

Unfortunately for early buyers, SMASH immediately crashed on Friday. Coincodex shows the token has dropped 96% in the past 24 hours, crashing immediately after the fighter’s tweet.

Was this scam planned?

Crypto experts were quick to call Chimaev out, accusing him of a classic crypto pump-and-dump. ZachXBT directly linked the “insider wallets” that dumped the majority of the token’s supply to Chimaev’s development teams, suggesting this was a planned scam.

“Timing analysis confirms that 71% of insider and developer wallets are directly linked because they are funded by the same Ethereum address,” laid ZachXBT out.

According to ZachXBT’s analysis, one of these addresses received 86.55 SOL (worth approximately $12,000) and distributed it to 24 different addresses, subsequently purchasing 712 million SMASH – 71.2% of the total supply.

Since then, Chimaev has deleted all tweets related to crypto or his SMASH token.

Chimaev was scheduled to fight Robert Whittaker, the No. 3 middleweight contender, in Saudi Arabia on June 22, but had to withdraw due to serious illness. The fight has not yet been rescheduled, but early SMASH buyers may be hoping for a quick settlement for Chimaev.

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