UFC fighter Khamzat Chimaev has come under scrutiny for his involvement in the crypto scandal surrounding the Solana-based memecoin Smash. After promoting the coin to his many social media followers, Chimaev allegedly orchestrated a “crypto tug-of-war” that caused the coin’s value to plummet in just 24 hours.
Smash initially peaked at 0.01 SOL ($1.35), but after a massive sell-off allegedly triggered by Chimaev, the value fell more than 91% to 0.004 SOL ($0.53) per token. The incident led to allegations of a pump and dump scheme, in which the fighter and possibly his team are believed to have made profits of up to $1 million from unsuspecting investors.
Data from crypto expert ZachXBT and blockchain transaction records indicate that insider wallets played a key role in the manipulation, damaging Chimaev's reputation as he rose in the UFC.#MemeCoinTrending #BTCBreaks66K #BNSOL #BinanceBlockchainWeek #BTCUptober
