According to a report by a Cybersecurity firm Kaspersky, Cybercriminals will target virtual world participants next year.
According to Cybersecurity experts, the Metaverse could become a big target next year as there are other threats in the industry.
There are consumer cyberthreats.
The predictions report was published on Nov. 28.
There will be more exploitation of the Metaverse due to lack of data protection and moderation rules. The quantity of metaverses is set to extend before long and the market might top $50 billion by 2026.
Cyber criminals will be attracted to that expansion to exploit virtual world participants.
As the metaverse experience is universal and doesn’t comply with the regional data protection laws, such as GDPR, it could create complex conflicts between the requirements of the regulations regarding data breach notification.
The Metaverse will be an extension of the data breach activity on social media.
Social media was responsible for more than $1 billion in losses related to cryptocurrencies. Sexual assault and virtual abuse will spill over into Metaverse.
There are cases of avatar rape and abuse that are likely to follow us into the future without protection mechanisms or moderation rules.
Meta, the company formerly known as Facebook, has already received a lot of skepticism over its Metaverse aspirations due to a lack of user protection and privacy concerns on its social media platform.
according to the survey, in-game virtual currencies and valuable items would be one of the “prime targets” for cybercriminals who will attempt to rob player accounts or lure them into fraudulent transactions in order to fork over valuable virtual assets.
most modern games have included some form of monetization or digital currency support, which will eventually become a honeypot for malicious actors.
Kaspersky cautioned that new forms of social media would also carry more risks, as suggested by Kaspersky.
it specifically referred to the transition to augmented reality-based social media, saying that cybercriminals can begin “distributing fake trojanized applications” to infect devices for further malicious purposes.
threats to new AR-based social media and metaverse platforms are primarily data and money theft, phishing, and account hacking, according to the study.