Heat olive oil in a large pot or Dutch oven over medium-high heat. Sear the beef on all sides until browned.
Remove the beef and set aside. Add the onion to the pot and cook until softened, about 5 minutes.
Add the garlic, chili powder, cumin, and smoked paprika and cook for 1 minute more.
Return the beef to the pot. Pour in the beef broth. Bring to a boil, then reduce heat to low, cover, and simmer for 3-4 hours, or until the beef is very tender.
Remove the beef from the pot and shred it with two forks. Season with salt and pepper to taste.
Lay a tortilla flat. Fill with shredded beef and cheese.
Fold in the sides of the tortilla, then roll it up tightly.
Heat oil in a skillet over medium heat. Fry the chimichangas, seam-side down, until golden brown and crispy on all sides, about 2-3 minutes per side.