Khamzat Chimaev’s manager ’maybe mislead’, issues potential apology for crypto coin storm

Majdi Shammas, manager to UFC star Khamzat Chimaev, has commented on the Smash memecoin crypto news that currently has several fans disappointed with his client.

Chimaev recently promoted a crypto memecoin called Smash on social media. After an initial surge, the value dropped dramatically the next day, leaving several people feeling scammed out of their money while Chimaev went back and delated his posts.

Now, Shammas has released a statement on the matter, suggesting Chimaev ”wasn’t involved”. The manager feels that he potentially got mislead and apologizes to both Khamzat Chimaev and those affected by the alleged crypto rug pull.

Shammas wrote the following via X:

”I want to comment the recent reports on the SMASH meme coin. I was approached by a group claiming to be fans of my client Khamzat Chimaev. They wanted to record a short video promoting their launch. So I agreed to that, nothing more nothing less. Maybe I was mislead. Khamzat wasn’t involved and know just as little as you do. So the news is really unpleasant and I’m seeking an explanation from those responsible. My apologies to Khamzat and all others of you affected by this, if I could have done anything differently. Thank you for your understanding, I’ll keep you updated.”

I want to comment the recent reports on the SMASH meme coin. I was approached by a group claiming to be fans of my client Khamzat Chimaev. They wanted to record a short video promoting their launch. So I agreed to that, nothing more nothing less. Maybe I was mislead. Khamzat…

— Majdi Shammas (@MajdiShammas) July 7, 2024

Khamzat Chimaev is not the first celebrity promoting crypto schemes

The world of crypto currency, NFT’s and memecoins can certainly be weird to navigate in. While some makes a lot of money off of that stuff, it’s often hard for the average person to tell what’s a scam and in the end, there’s usually a whole bunch of folks watching their investments go up in smoke.

Meanwhile, celebrities are frequently getting approached and sometimes even tricked into using their platforms to promote various schemes. Celebrity endorsers get offered what looks to be regular sponsorship deals and before they know it, they’ve actually played a vital part in scamming their own fans. Others are in on it themselves in order to earn a quick buck.

Logan Paul, Floyd Mayweather, DJ Khaled, Kim Kardashian – the list is long of influential figures involved in alleged crypto scams over the years. Heck, even ”Mr. Wonderful”, the millionaire investor Kevin O’Leary known from Shark Tank, regrettably became an ambassador for Sam Bankman Fried’s FTX a while back, which of course ended up being one of the biggest financial fraud cases in modern history

Speaking to Frontkick regarding the Smash memecoin saga, Shammas strongly disputes reports suggesting Chimaev himself scammed fans of over a million dollars, stating that ”that’s simply not true”.

”They just wanted Khamzat to do a quick promotional video, which I agreed to on his behalf. If it turns out that that was a mistake, I really apologize,” Shammas told Frontkick, adding:

”I’m still trying to gather more information and wrap my head around this mess.”

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