The Metaverse may see hacker and phishing attacks in 2023

The metaverse is most likely to be used in 2023, according to a survey by the cybersecurity company Kaspersky, given the state of its expanding industry, which is predicted to reach $50 billion by 2026. The company listed expanding brand exposure and a lack of regional data protection rules, such as the General Data Protection Regulation (GDPR), as the main causes of the security incident.

The metaverse will continue to suffer as phishing and ransomware attacks on the cryptocurrency industry rise, according to the report.

Can avatar rapes be attributed to monetization?

With the launch of its contemporary games, the metaverse has stepped up to become a site for monetisation and, as a result, has become a breeding ground for malevolent acts. The use of tools, firewalls, virtual private networks (VPNs), and malware detection software should be carried out, according to Harshavardhan Godugula, Partner, Forensic & Integrity Services, EY, who stressed the enormous potential and hazards on the metaverse platform in an interview with TOI. To reduce virtual crimes, together with developing technologies like AI and ML, that can be used to detect user behaviour.

Kaspersky drew attention to instances of online abuse and sexual assault in order to raise concerns about the security of the metaverse ecosystem. Without the addition of safety precautions or moderation standards, existing avatar rape incidents in the metaverse will deteriorate starting in the following year. The paper further raised concerns about the distribution of in-game virtual money and expensive objects, claiming that their availability serves as bait for more aggressive threat actors.

 

Brands continue to invest in the metaverse despite the risks

Despite the risks, interest was underscored by Sony's recent statement on November 29 that it would unveil its wearable motion tracker intended to let consumers enter the metaverse on their cellphones.

Animoca Brands, the Yat Siu-founded gaming software company with headquarters in Hong Kong, reportedly intends to raise up to $2 billion to invest in the metaverse industry.

Apple appears to be employing personnel to advance its metaverse project. According to recent job postings and applicable patent filings, Apple is creating a "3D mixed-reality world" with elements like the metaverse.