The Metaverse Project Is in Danger! Who is Gonna Save it?

Kaspersky, a cybersecurity firm, revealed through a report that the metaverse is most likely to be exploited in 2023, given the condition of its growing market, which is anticipated to reach US$50 billion by 2026. The firm pointed out the lack of regional data protection laws, the General Data Protection Regulation (GDPR), and growing brand expansion as the top reasons behind the security breach. Amid spikes in phishing and ransomware attacks on the crypto industry, the metaverse will continue to suffer, the report mentioned.

As the metaverse steps up to become a place for monetization with the introduction of its modern games, it has turned into a hotbed for malicious activities. In an interview with TOI, Harshavardhan Godugula, Partner, Forensic & Integrity Services, EY, spotlighted the immense potential and threats on the metaverse platform, and said, “The utilization of tools, virtual private networks (VPNs), firewalls, and malware detection software should be undertaken. “Along with emerging technologies such as AI and ML, which can be used to identify user behavior, to reduce virtual crimes.”

Kaspersky emphasized the scenarios of virtual sexual assault and online abuse to raise eyebrows on the safety of the metaverse ecosystem. Without the incorporation of safety measures or moderation guidelines, metaverse old cases of avatar rapes will intensify to become terrible from next year. The report even expressed concern over the in-game virtual currencies and valuable items’ dissemination, stating their presence as bait for increased threat actors.