Goldman Sachs Executive Resigns Without Regret Over Dogecoin 'Big Hit'

Estimated to have earned millions of dollars
Dogecoin scams also rampant

[Asia Economy New York=Correspondent Baek Jong-min] A senior executive at the global investment bank Goldman Sachs made a huge profit with the cryptocurrency Dogecoin and resigned.

According to the economic media Fortune on the 11th (local time), Aziz McMahon, an executive at Goldman Sachs' London office, recently earned millions of dollars from Dogecoin and submitted his resignation.

Fortune reported that Goldman Sachs also acknowledged McMahon's resignation but did not disclose further details.

Fortune anticipated that, as he was a highly paid executive-level employee, he likely made a significant investment return.

Fortune speculated that since Dogecoin recently plummeted, McMahon probably sold his holdings ahead of Tesla CEO Elon Musk's appearance on Saturday Night Live (SNL).

While some investors made a fortune with Dogecoin, there were also those who used it for scams.

According to blockchain information provider TRM Labs, on the 8th, scammers exploited Musk's SNL appearance by deceiving people with promises to "double their money," stealing 9.7 million Dogecoins.

One victim posted on a Dogecoin online board, warning, "Don't be fooled like me. They do not double your coins," and lamented, "I only have $60 left in my pocket."

On the official Dogecoin Twitter account on the 9th, a warning was posted saying, "Do not send coins to anyone claiming to double or triple your Dogecoin," adding, "It is a scam. We cannot return your money."

Meanwhile, on the day, Dogecoin was trading at 51.39 cents, up 11% compared to 24 hours earlier.