Khamzat Chimaev, a UFC star, is facing serious allegations. Did he scam his fans with his cryptocurrency, Smash? A recent Twitter post has stirred the pot. The user accused Chimaev of creating a meme coin called Smash and promoting it heavily. Within 24 hours, the coin's value plummeted, losing over 90%.

Fans believe Chimaev and his team orchestrated a "rug pull" scam. How did this happen so quickly? Blockchain investigator ZachXBT provided detailed evidence. He claimed insiders bought up to 78% of the tokens. Is Chimaev's reputation at stake? Did he really steal up to a million dollars from his fans?

SMASH goes from hype to dust in a day

"Well, well, well. Just when I thought this guy couldn't be more of a disappointment. Khamzat Chimaev has topped it all," began a frustrated Twitter user. Chimaev launched his meme coin, Smash, and vigorously promoted it through multiple videos. However, within 24 hours, the coin’s value plummeted over 90%, causing massive financial losses for his fans.

The Twitter user explained how Chimaev and his team allegedly orchestrated a "rug pull" scam. They quickly pulled out their investments, leaving investors with worthless tokens.

According to the user, "Khamzat Chimaev and his team dropped a crypto coin called Smash and made multiple videos promoting it to his followers. And in under 24 hours, he rugs the coin and steals up to a million dollars from his fans that invested in his coin."

Did Chimaev cash out or crash out?

Blockchain investigator ZachXBT further uncovered the scheme. He revealed that insiders and wallets linked to Chimaev's development team bought up to 78% of the Smash token supply. This large holding enabled them to manipulate the price, leading to its dramatic fall. ZachXBT noted, "The team wallets and insider wallets were directly linked, buying up 78%+ of the supply."

Chimaev quickly deleted all promotional videos, trying to cover his tracks. Despite his efforts, the damage was done. Fans were outraged, feeling betrayed by someone they once admired.

The value of Smash dropped from its peak of 0.01 SOL to just above 0.004 SOL. This significant loss emphasized the dangers of investing in celebrity-endorsed cryptocurrencies. The entire incident has left Chimaev's reputation in tatters, with many questioning his integrity.

So, what can we learn from this? Always research thoroughly before investing, especially when a celebrity is involved. Do you think this scandal will change how fans view their favorite stars?