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Khamzat Chimaev, a UFC fighter and Russian freestyle wrestler, has launched a Solana-based cryptocurrency token called 'Smash'. Following its promotion, the token experienced a dramatic drop of 94%. Allegations of insider trading have surfaced, with claims that insiders and developers control over 78% of the token's supply. Crypto analyst ZachXBT criticized Chimaev's team for linking team wallets with insider wallets, suggesting incompetence and potential manipulation.
ZachXBT ACCUSES SMASH TEAM OF INSIDER TRADING He claims that most of UFC fighter Khamzat Chimaev’s Solana-based memecoin, SMASH, is held by insiders and developers. Zach: “Khamzat, your team is incompetent as you directly linked the team wallets with the insider wallets,… https://t.co/uhcaYHF6os
🚨The latest scandal involving the Solana Foundation🚨 Due to their inability to raise during the bear market, they were forced to give substantial seed allocations to both Germany Mt.Gox They finally figured out how to unstake and read solscan and now they are FSHing the chart https://t.co/h64jzHoI6q
ZachXBT: SMASH TEAM HAS OVER 78% OF SUPPLY He alleges that insiders and developers control the majority of UFC fighter Khamzat Chimaev’s Solana-based memecoin, SMASH Zach: “Khamzat, your team is incompetent for directly linking team wallets with insider wallets, acquiring over… https://t.co/u0n794yc0A