Skip to content

UFC star Khamzat Chimaev caught in crypto scam

UFC star Khamzat Chimaev caught in crypto scam

After releasing his own cryptocurrency called ‘Smash,’ Russian professional mixed martial artist (MMA) and freestyle wrestler Khamzat Chimaev became the target of the UFC and crypto communities’ ridicule, and one online security researcher has found evidence that points to a possible scam.

Indeed, the UFC fighter has recently asked his followers what they thought was the best crypto asset to invest in, shortly after which he announced the release of his own crypto named ‘Smash,’ and pseudonymous scam investigator ZachXBT has revealed insider trading, detailing it in an X post on July 4.

As it happens, the researcher accused Chimaev and his team of incompetence in a comment to the wrestler’s X post that includes the token’s address, telling them they “directly linked the team wallets with the insider wallets buying up 78% of the supply” and asking why “all of you instantly nuke your reputation with meme coin scams?”

How the crypto scam unfolded

Then, ZachXBT proceeded to lay out the summary of the alleged scam, stating that the timing analysis confirmed that “71% insider and dev team wallets is directly linked” as the same address on Ethereum (ETH) was funding them, posting the address ‘0x8ae40d1e89cd7333efe42a35969f0b8548fe54a8’ on Solana (SOL) as an example.

As he further revealed, the scam went like this:

Details of alleged crypto scam. Source: ZachXBT
Details of alleged crypto scam. Source: ZachXBT

Furthermore, the investigator listed the 24 addresses that bought up 712 million SMASH “or 71.2% of entire supply,” after which they each dispersed this amount to more addresses, at which point he stopped tracking the said supply and he also posted the visual representation of the scheme.

Visual representation of alleged scam. Source: ZachXBT
Visual representation of alleged scam. Source: ZachXBT

At the same time, ZachXBT posted a screenshot of SMASH/SOL price chart in a different comment to the same post on the social media platform, demonstrating a decline of 18.81% in a single hour, from close to 0.02 SOL to 0.0003513. The token is currently trading at the price of 0.00048 SOL.

SMASH/SOL price 24-hour chart. Source: CoinMarketCap
SMASH/SOL price 24-hour chart. Source: CoinMarketCap

Celebrity-backed crypto scams

Unfortunately, scams are not uncommon in the crypto sphere, and celebrities like Chimaev are not immune to them, whether knowingly or unknowingly participating, as American podcast host Joe Rogan and popular scam investigator Stephen Findeisen, a.k.a. Coffeezilla noted back in March 2023.

As a reminder, they observed that a number of famous individuals supported the now-collapsed crypto exchange FTX, as well as discussed the allegations of the American media personality and Chimaev’s industry peer, wrestler Logan Paul, scamming investors in his crypto project Cryptozoo, as Finbold reported at the time.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

Best Crypto Exchange for Intermediate Traders and Investors

  • Invest in 70+ cryptocurrencies and 3,000+ other assets including stocks and precious metals.

  • 0% commission on stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit

  • Copy top-performing traders in real time, automatically.

  • eToro USA is registered with FINRA for securities trading.

30+ million Users
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. eToro USA LLC does not offer CFDs, only real Crypto assets available. Don’t invest unless you’re prepared to lose all the money you invest.

Read Next:

Weekly Finance Digest

By subscribing you agree with Finbold T&C’s & Privacy Policy

Related posts

Disclaimer: The information on this website is for general informational and educational purposes only and does not constitute financial, legal, tax, or investment advice. This site does not make any financial promotions, and all content is strictly informational. By using this site, you agree to our full disclaimer and terms of use. For more information, please read our complete Global Disclaimer.