Khamzat Chimaev’s manager breaks his silence on the recent crypto scandal that has engulfed his client.
The facts
Last week, the undefeated mixed martial artist promoted on social media SMASH, a Solana-based memecoin developed with his involvement. However, an investigation by onchain expert ZachXBT revealed that up to 78% of the SMASH token supply was purchased by insiders and portfolios linked to developers, leading to allegations of a pump-and-dump scheme orchestrated by the Chechen superstar.
“Khamzat, your team is incompetent, as you have directly linked the team’s portfolios with those of the insiders who bought over 78% of the offer,Why are you all instantly ruining your reputation with memecoin scams?” ZachxXBT
Chimaev Manager’s Response
Majdi Shammas, Chimaev’s manager, provided clarification on the situation, stating that ‘Borz’ was not directly involved in the crypto scheme. “I want to comment on recent reports about the memecoin SMASH,” Shammas wrote on X. “I was approached by a group claiming to be fans of my client Khamzat Chimaev. They wanted to record a short promotional video for their launch. So I agreed, nothing more and nothing less. Perhaps I was misled. Khamzat was not involved and knows as much as you do. So the news is very unfortunate and I am looking for an explanation from those responsible.” “My apologies to Khamzat and all of you affected by this situation, if I could have done anything differently. Thank you for your understanding, I will keep you updated.”
The Manager’s Responsibility
Speaking to Frontkick Online, Shammas partly blamed himself and reiterated that Chimaev was not involved in the scam that allegedly defrauded the first people to buy shitcoin for over a million dollars.“They just wanted Khamzat to make a short promotional video, which I accepted on his behalf. If it turns out to have been a mistake, I really apologise,” Shammas said. “I am still trying to gather more information and better understand this chaos.”
The reaction of Khamzat Chimaev
Khamzat Chimaev has not yet commented on the situation, but all promotional material related to SMASH has been removed from his social accounts.
Context and implications
The affair has raised many questions about transparency and ethics in the world of cryptocurrencies, particularly with regard to memecoins, which are cryptocurrencies created as parodies or memes but which sometimes obtain real value. The pump-and-dump strategy, where cryptocurrency prices are artificially inflated and then sold at a high price before the value collapses, is one of the most damaging and fraudulent practices in the industry.
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