Lead advocate for Mt. Gox creditors quits, says payouts could take years

posted 6 months ago
The head of the largest organized creditor group representing the former users of failed Bitcoin exchange Mt. Gox is stepping down amid a protracted legal quagmire that could take years to resolve completely. Andy Pag, the founder and coordinator of Mt. Gox Legal said he now believes a single massive claim by startup incubator and former Mt. Gox partner Coinlab – may hold up the crypto exchange’s civil rehabilitation process for up to 2 more years.

Rather than wait for the court system, Pag intends to sell his claim for $600 per BTC, step down from Mt. Gox Legal and move on with his life. “I’ve put my career on hold for 18 months and… It’s just a big regret that we’ve kind of been outplayed by other parties… This is a really personal decision that everyone needs to make for themselves… Do I want to be right, or do I want to be happy? I’ve decided I’d rather be happy and get on with my life.”
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