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Imagine that you are a consultant working in Singapore for the Monetary Authority of Singapore (MAS) in 2018. You and your workgroup have been asked to do research on what happened with the Bitcoin losses at Mt Gox, the rise of ICOs that have been hacked and lost money, and how safeguards can be taken to avoid such losses. (1) What happened? (you can figure it out from publicly-available material) (2) Discuss the problems and vulnerabilities at the Exchange. Be as specific as you can in order to document what you discovered to be the key weaknesses that made it possible for hackers and digital thieves to attack Mt Gox, and slowly siphon off Bitcoins. (3) A third task is to discuss what kinds of future improvements you propose making to any bitcoin exchanges – like Mt Gox in this specific instance, but others around the world as well, including ICO operations that involve hackable cryptocurrency. (4) Finally, offer basic knowledge on info security in financial services, and how it will be appropriate for regulators to handle Bitcoin and ICO hacking, even when it involves other cryptocurrencies such as Ethereum. Please include the 4 points above .
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