Paul Vigna

speaker

1,291 appearances 13 recordings 1 series first heard Jul 2017 last heard Apr 2022

Paul Vigna’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Cryptocurrency Mystery: How Did $140 Million Disappear? · 7 Feb 2019 podcast

The trick here is that within Bitcoin, access to a wallet is gotten one of two ways.

There's what's called a private and a public key.

Think of them as just like passwords, right?

They're just access.

So if you have the public key, you can send money to an address, to a wallet.

So if I wanted to send Quadriga money, I want to invest in them, you know, I'm going to give them a thousand dollars and they're going to credit me a thousand dollars worth of crypto or whatever.

I would send money to this public key.

Anybody can see the public key.

The private key allows you to take money out of the wallet.

Anybody who has a private key to a wallet in cryptocurrency can move money out of that wallet.

So the private key is extremely – it's an extremely sensitive piece of information.

It is a withdrawal slip.

It's like having a money order.

I mean, it's almost like having the cash itself.

Anybody who has the private key to any wallet –

can access that wallet, can drain the entire thing.

So it's very critical that you don't give out this private key.

What appeared to have happened in this case of Quadrica is that Cotton was the only person who had the private key.

Oh, no.

This is what they're saying right now.

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