Khamzat Chimaev Implicated in Alleged Crypto Scam

ZachXBT followed up hours later with a summary of his investigation and allegations of insider trading. “Khamzat your team is incompetent as you directly linked the team wallets with the insider wallets buying up 78%+ of the supply,” the tweet says. The anonymous user pointed to “timing analysis” as proof that the developers bought the meme coin to artificially inflate the value before dumping the supply and leaving buyers with a largely worthless asset. 

Khamzat Chimaev ‘Nuking’ Reputation

Chimaev is far from the first celebrity to become involved with a cryptocurrency scam. In January 2022, NBA great Paul Pierce, Floyd Mayweather Jr, and Kim Kardashian were named as defendants in a class action lawsuit against Ethereum Max for a similar “pump and dump” scheme. 

In January, WWE star/social media influencer Logan Paul began offering partial refunds to fans after being the subject of his own class action lawsuit involving an NFT-based game called CryptoZoo.

The latest news about Chimaev comes less than three weeks after an illness forced him to withdraw from his headlining spot against Robert Whittaker at UFC Saudi Arabia. After beginning his UFC campaign with three stoppage wins in two months in 2020, the Checean has only fought four times since.