A report by cybersecurity firm Kaspersky suggests that hackers will exploit the Metaverse to attack unsuspecting customers in 2023.
According to the “Consumer Cyberthreats: Predictions for 2023” Report by Kaspersky, these bad actors are seeking means to expand their strategies and tactics while they explore new ways to attack through streaming services, social media, and even online gaming platforms.
Markedly, this redirection from malware, ransomware, and phishing attacks to Metaverse will be possible due to the absence of data protection and moderation rules. Also, consumers’ interest and demand for online streaming services have heightened in recent days. Hence, many individuals are searching for alternative sources to download streaming apps.
At the moment, only a few firms have taken up the Metaverse initiative but there are speculations that the number will jump next year.
Kaspersky believes that the metaverse market will grow to up to $50 billion in the next four years. An increase in the number of metaverse adopters will also amount to an increase in the probability of cyber attacks in that ecosystem.
Already, the metaverse experience overlooks local data protection regulations like GDPR, that is to say, anyone who is exempted from GDPR, can access the Metaverse. This provides an avenue for easy breach as there are complicated inconsistencies involved.
“As the metaverse experience is universal and does not obey regional data protection laws, such as GDPR, this might create complex conflicts between the requirements of the regulations regarding data breach notification,” the report outlined
Metaverse May Promote Virtual And Sexual Assaults
So far, social media has been recorded to be responsible for up to $1 billion of the crypto losses which happened in 2021.
Therefore, it is safe to say that social media has been a crucial weapon in the arsenal of these cyber criminals. Kaspersky mentioned the instances of avatar rape and abuse to emphasize the fact that virtual abuse and serial assaults might overwhelm the metaverse.
Meanwhile, the metaverse has been doing well so far even in the face of the crypto winter which has wiped out many businesses. More firms have applied for metaverse trademarks including payment service provider Visa and watch giant Rolex.
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