Smith sparked global headlines after storming the stage and slapping comedian Rock in the face during a live broadcast seen by tens of millions of viewers.
Earlier in the evening, a video had been posted on Smith's account of him and his wife dressed up to the nines headed into the ceremony.
"Me 'n Jada Pinkett Smith got all dressed up to choose chaos," the caption stated.
Three hours later, a second response under Smith's name appeared, seemingly posted after the incident with Rock following a joke directed at Pinkett Smith's shaved head. Last year, she announced she would shave her hair after an alopecia diagnosis.
"You can't invite people from Philly or Baltimore nowhere," the comment said.
That appeared to be a reference to the home cities of the couple with Smith hailing from Philadelphia and Pinkett Smith from Baltimore.
The flippant nature of the remark left many followers troubled.
"That's all you have? You should have apologised to Chris. Classless," said one.
"No excuse for what you did and the Academy should be ashamed for giving you that award and allowing you to stay," said another.
"You could have handled this very differently".
Smith's Insta comment was posted after his speech where he won the best actor Oscar for his portrayal of Venus and Serena Williams' father Richard Williams in the film King Richard.
He briefly apologised to the Academy during the tearful speech but made no mention of Rock.
He added that he wanted to be a "vessel for love".
Smith appeared to compare his actions to that of the person he played in King Richard.
"Richard Williams was a fierce defender of his family.
"I look like the crazy father, just like they said about Richard Williams. But love will make you do crazy things.
In the entertainment industry, Smith said, actors are forced to "take abuse" as "people talk crazy about you".
In a statement, the Academy said it "does not condone violence of any form". But there was no direct reference to Smith or Rock.
After the Oscars outburst, Smith headed to the famous Vanity Fair after-party and seemed in good spirits.
The New York Post reported that Sean "Diddy" Combs talked to both Smith and Rock who agreed to make amends later in the evening.
The Los Angeles Police Department confirmed Rock has "declined to file a police report", according to Variety.
"LAPD investigative entities are aware of an incident between two individuals during the Academy Awards program. The incident involved one individual slapping another," a statement from the LAPD read.
"The individual involved has declined to file a police report. If the involved party desires a police report at a later date, LAPD will be available to complete an investigative report."
