The metaverse is approaching users at full speed. Businesses and brands are jumping into the digital reality, and according to a recent survey, consumer interest is growing along with all this activity.
At the same time, as more users join the activity of the metaverse, the risk of nefarious activities in the digital reality grows. A report from cybersecurity firm Kaspersky reveals that exploitation and abuse in the metaverse will increase in the coming year.
Threats range from scams, which are to be expected in digital interactions, to identity theft and abuse related to avatars.
To better understand the dangers and risks that users entering the digital reality may face, Cointelegraph spoke with Andrew Newman, CTO and co-founder of cybersecurity firm ReasonLabs and a former architect of Microsoft’s Windows Defender anti-malware software.
According to Newman, the main concept for users to understand is that the metaverse identity “will likely become the users’ digital identity”:
“As our real-life and online identities continue to merge, the stakes for identity theft in the metaverse will rise.”
He stressed that scams with avatars have already been reported on platforms such as Roblox. The example Newman gave was that the hacker might try to convince a user that he needs to access his avatar for a number of reasons, with the ultimate goal of stealing his digital identity.
Although threats against digital identity are common, as virtual money or currencies become linked to metaverse avatars, these threats will increase.. Newman cautions consumers that as more money is spent on digital assets for these avatars.
“Just as we protect our physical assets, we must ensure that people protect their digital assets and personal information within the metaverse.”
The number and various types of digital assets with real value that users can own continue to grow. This suggests that cybercrime and theft will only get more complicated as digital reality expands.
Blockchain and emerging technologies hold great promise in terms of transparency and security. However, Newman states that users should be vigilant:
“We shouldn’t assume that our funds are not susceptible to theft simply because they are in the metaverse rather than in a traditional banking network.”
Another component of identity theft in the metaverse is that minors are susceptible to these threats. In many ways, the metaverse is designed to appeal to both youth and young adults.
Minecraft, Fortnite and Roblox attract young users. Often, minors are not aware of the importance of cybersecurity or their digital footprint. According to Newman, there are already threats facing children in online digital worlds. Nevertheless:
“Finance may change over time from in-game virtual currency and items, to more traditional finance, such as real money or crypto ties, to the newer ‘web3’ identities in games.”
This would create more value to exploit unsuspecting minors.
Currently, many of the leading Web3 developers, such as Chainlink, are developing new security protocols for users of digital reality. Developers both inside and outside the industry are seeking to create a global metaverse policy to address a growing list of concerns.
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