Conor McGregor criticizes Khabib NFT scam and is slapped back! His own Token big dump 61%

UFC star Conor McGregor criticized former opponent Khabib Nurmagomedov for issuing NFTs on Telegram, accusing him of deceiving fans by using his late father's name and Dagestani culture. However, on-chain detective ZachXBT retaliated, stating that Conor launched the meme coin REAL in April, which ultimately raised only 39% of the target amount, and subsequently deleted the post, causing losses for fans.

Conor McGregor criticizes Khabib NFT project

“A good person like Khabib would never use the name of his late father or the culture of Dagestan to deceive his fans and sell large quantities of digital NFTs online at low prices,” Conor McGregor wrote in a now-deleted X post. This tweet quickly sparked heated discussions in the crypto community and among UFC fans, as the feud between McGregor and Khabib dates back to the notorious UFC 229 fight in 2018.

Khabib Nurmagomedov's NFT project launched on Telegram features a digital version of the “Papakha.” The Papakha is a traditional sheepskin hat from Dagestan that holds deep cultural significance in the Caucasus region, and Khabib often wears this type of hat in public. The NFT project aims to digitize this cultural symbol, allowing fans to purchase and collect digital versions of the Papakha.

Conor McGregor's criticism focuses on two core points: first, the accusation that Khabib is using the name of his late father Abdulmanap Nurmagomedov for commercial purposes. Abdulmanap was a respected fight coach who passed away in 2020 due to complications from COVID-19 and held a revered status in Dagestan and the fighting community. Second, the criticism of the NFT project for “selling a large number of digital NFTs at low prices,” implying that this is a money-making scheme rather than a true cultural legacy.

However, McGregor's tweet was quickly deleted, and this act of “posting and then deleting” itself raises questions: Is it due to legal risks, public opinion pressure, or as suggested by ZachXBT, does McGregor himself have a similar dark history that he does not want to be dug up?

ZachXBT Strikes Back: Exposing Conor McGregor's REAL Token Failure

(Source: ZachXBT)

On-chain detective ZachXBT quickly responded to Conor McGregor, pointing out that McGregor had attempted to launch his own celebrity Meme coin, named REAL, in April. ZachXBT wrote in a sarcastic tone: “How could good guy McGregor exploit his own fame and Irish culture to scam fans by selling off large amounts of digital tokens at low prices online, and then delete all posts after the sale, leaving fans to suffer losses?”

ZachXBT is a highly respected on-chain investigator in the crypto community, known for exposing fraudulent projects and tracking stolen funds. His rebuttal is not only a response to McGregor's remarks but also a factual statement based on on-chain data. To prevent snipers and automated trading bots from manipulating prices, Conor McGregor's REAL token is sold to potential buyers through a sealed bidding auction.

Sealed bid auctions are a relatively novel token issuance mechanism where participants submit bids without seeing others' bids, aiming to create a fairer price discovery process. The token offers staking rewards to holders, promising that they can earn additional returns through lock-up. However, despite these mechanisms, the REAL token ultimately raised only 39% of the target amount.

Key Data for REAL Token Failure

Fundraising Completion Rate: Only 39% of the target has been reached, meaning that 61% of the target has not been achieved.

Issuance Mechanism: Sealed bid auction, theoretically fairer but increases the complexity of participation.

Commitment Function: Staking rewards, but ultimately failed to attract enough buying interest.

Follow-up: According to McGregor, the funds have been refunded, but the posts have all been deleted.

According to Conor McGregor, the funds raised have been refunded to participants after the token issuance failed. This handling method technically avoids direct accusations of “fraud,” but the behavior of “deleting all posts” pointed out by ZachXBT still raises questions about transparency and accountability. If the project is truly operating in good faith, why erase all traces?

High Failure Rate of Celebrity Crypto Projects

There are many reasons for the failure of token issuance, including the overall downturn of the cryptocurrency market at that time and the bear market of Meme coins. In 2024, Meme coins are one of the hottest topics in the cryptocurrency market and also one of the best-performing sectors. However, the parabolic rise of Meme coins came to an abrupt end in 2025.

The decline of Meme coins stems from several high-profile projects that almost immediately depreciated after their launch or were deemed scams, including projects supported by U.S. President Donald Trump and Argentine President Javier Milei. When even endorsements from celebrity-level figures cannot prevent a project from collapsing, the market's trust in celebrity Meme coins sharply declines.

Conor McGregor's REAL token failure happened right at this turning point. April was a key period when the Meme coin market shifted from frenzy to calm, and investors began to question the real value of these tokens that lack practical use. Although the sealed bid auction mechanism is innovative, it also raises the participation threshold, and many retail investors may choose to wait and see due to their unfamiliarity with this mechanism.

According to data from CoinMarketCap, the market capitalization of Meme coins fell to $39.4 billion on Friday, reaching its historical low for 2025, with a market cap evaporating by up to $5 billion within a day. Since December 2024, the Meme coin market has been in a downward trend. This overall market environment provides a macro background for Conor McGregor's REAL token failure, but it cannot completely absolve the design and execution issues of the project itself.

UFC Rivalry Continues into the Crypto World

The feud between Conor McGregor and Khabib Nurmagomedov is one of the most famous confrontations in UFC history. At UFC 229 in 2018, Khabib defeated McGregor by submission, and a massive brawl broke out between the teams after the fight. This match was not only a sporting competition but also involved complex conflicts of culture, religion, and ethnic identity.

Today, the battlefield between these two archrivals has extended from the octagon to the crypto world. McGregor criticized Khabib's NFT project, while ZachXBT's counterattack exposed McGregor's own failures in the crypto space. This “fifty steps laughing at a hundred steps” situation has sparked widespread discussion in the crypto community: how should celebrities engage in crypto projects? What responsibilities do they have towards their fans?

From a moral perspective, both Khabib's NFT and McGregor's REAL token face scrutiny over the commercialization of celebrity influence. The key lies in transparency, fulfillment of commitments, and long-term dedication. McGregor's act of deleting all posts, as well as the actual operation of the Khabib NFT project, require more information to make a comprehensive judgment.

The NFT and meme coin market, after experiencing a month of cryptocurrency downturn, shows signs of recovery, but overall sentiment remains cautious. Investors are beginning to assess celebrity projects more rationally, demanding more practical use cases and transparent governance, rather than solely relying on celebrity appeal.