【go down in smoke】 —(also: go down in flames) fail or end suddenly; come to nothing:

• This whole program went down in smoke after the protests started.

【go up in smoke】 —(also: go up in flames)

1. be destroyed by fire:

• After his house went up in smoke, insurance and fire officials suddenly realized he was involved in a whole string of arsons.

2. = 【go down in smoke】 :

• His hopes went up in smoke as his car’s engine caught fire and arch enemy and team-mate at the time, Jason Plato, became champion.

3. (coll.) lose one’s temper:

• The highbrows in those parts all 【go up in smoke】 if you confess to liking those native artists.

Note: The expression does not correlate in meaning with the phrase go into smoke—(sl.) go into hiding:

• The delegate returned anonymously, slipped ashore and “went into smoke” like some famous criminal.