Khamzat Chimaev’s team issues statement on SMASH Coin Scam allegations

LockerRoom Team

10 Jul 2024

Khamzat Chimaev’s manager issued an apology for his client’s inadvertent association with the SMASH meme coin scam.

Chimaev faced criticism this week after promotions on his social media accounts contributed to a surge in value for the crypto meme coin “SMASH,” followed by a significant drop that left investors feeling scammed.

Manager Majdi Shammas emphasized that Chimaev was not directly involved in the incident and expressed regret over the misunderstanding. The promotional posts have since been removed from Chimaev’s social media platforms.

“I want to address the recent reports regarding the SMASH meme coin,” Shammas stated. “I was approached by a group claiming to be fans of Khamzat Chimaev. They requested a brief promotional video, which I agreed to without further involvement. Perhaps I was misled. Khamzat had no knowledge or participation in this matter beyond what is publicly known. I deeply regret this situation and am seeking accountability from those responsible. My sincere apologies to Khamzat and all affected parties. I appreciate your understanding, and I will provide updates as I receive them.”

A member of the team associated with the “SMASH” token also released a statement through Chimaev’s social media channels, denying any fraudulent activity related to the coin.

“In regards to the token supply, we acquired 80 percent initially and still retain nearly 80 percent ownership,” an unnamed individual stated in a video posted on X. “We did not initiate sales nor were we responsible for the significant drop in token value. All transactions are transparent and traceable through public wallets. There was no scam involved. Early buyers profited from their investments, which was not influenced by us, Khamzat’s team, or any affiliated parties.”

Chimaev, currently ranked No. 9 in the latest USA TODAY Sports/MMA Junkie middleweight rankings, last competed at UFC 294 in October, securing a majority decision victory over former UFC champion Kamaru Usman.

ALSO READ | Khamzat Chimaev Faces Crypto Scam Allegations After Launching his own coin

The 30-year-old was slated to face Robert Whittaker in the UFC on ABC 6 main event last month in Saudi Arabia but withdrew due to illness, casting uncertainty over his future in the UFC.