After going 9 months and counting with out a struggle, Khamzat Chimaev needed to discover a option to maintain the cash rolling in. Sadly, it concerned scamming all of his followers.
On Tuesday, the undefeated Chechen star took to social media to ask which cryptocurrency he ought to spend money on. The subsequent day, he introduced the launch of his personal themed meme coin appropriately named “SMASH.”
“There may be one crypto coin about me. They name it SMASH,” Chimaev said in a video on X. “Let’s ‘smash’ collectively guys. Let’s go.”
Sadly, for anybody who really purchased the digital at present, SMASH rapidly plummeted to zero. In keeping with GeckoTerminal, the coin was down 96% inside 24 hours of Chimaev’s message to “smash” on SMASH.
It had all of the indicators of a traditional crypto pump-and-dump per a report from Decrypt.
Pump and dump schemes on the planet of cryptocurrency sometimes contain celebrities investing in a token, closely selling that token to spur a worth improve, and subsequently dumping their holdings at a major revenue. This usually ends in a heavy decline and even collapse of a token’s worth, impacting unsuspecting holders (h/t Chain Analysis).
In keeping with Decrypt, Blockchain detective ZachXBT was rapidly in a position to join the “insider wallets” that dumped a lot of the token’s provide on to the fighter’s improvement workforce wallets, suggesting this was nothing greater than an orchestrated rip-off.
“Utilizing timing evaluation confirms 71% insider and dev workforce wallets [are] straight linked as they have been funded by [the] identical handle on Ethereum,” ZachXBT defined.
Chimaev has since deleted his video on X together with the rest tying him to the crypto rip-off.
Khamzat Chimaev’s UFC Hype Prepare has slowed significantly
Khamzat Chimaev was scheduled to return to the Octagon for the primary time in 2024 at UFC Saudi Arabia final month. Lower than two weeks earlier than his foremost occasion conflict with Robert Whittaker, ‘Borz’ turned “violently ill” and was compelled to bow out of the struggle.
Since storming into the UFC in 2020 and successful three fights within the span of two months, the Chechen has solely competed twice within the final two years, his most up-to-date coming towards former welterweight champion Kamaru Usman at UFC 284 in October. The ‘Nigerian Nightmare’ stepped in on quick discover to switch Chimaev’s unique opponent, Paulo Costa, and surrendered a majority resolution.
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