Report Predicts Increase In Metaverse Cyberattacks in 2023

Table of Contents

• Metaverse Ecosystem Susceptible To Attacks
• Increasing Attacks On Metaverse 
• Cybercriminals Targeting In-Game Assets
• Social Media Platforms Also At Risk

Kaspersky has predicted that metaverse exploitation and customer security threats will rapidly increase in 2023. 

Metaverse Ecosystem Susceptible To Attacks

Cybersecurity company Kaspersky has recently conducted a report which indicates that cyberattacks could increase on the metaverse in 2023. The firm recently published its “Consumer cyberthreats: predictions for 2023” report on November 28, forewarning the increasing risk of exploiting the metaverse in 2023 due to insufficient data protection and moderation rules. 

An excerpt from the report reads, 

“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.”

Increasing Attacks On Metaverse 

The report indicated that the industry would face threats bigger than malware, ransomware attacks, and phishing. The report also acknowledged that the number of metaverse platforms would soon be ballooning in the next few years, and as a result, the metaverse will become the prime target for malicious actors and cybercriminals who will flock to these platforms to exploit unaware participants. Furthermore, the metaverse poses a brand new challenge and threat to social well-being. There have already been reports of increasing sexual abuse of avatars. Kaspersky predicts that 2023 will witness increasing virtual abuse across metaverse ecosystems since there are no proper laws in place to protect virtual entities. 

Cybercriminals Targeting In-Game Assets

The report has also identified one of the prime target areas for cybercriminals on the metaverse, which is in-game assets. Most metaverse games have provisions for monetization or digital currency support. These include virtual currencies and digital collectibles, like NFTs. Cybercriminals can go the phishing route to gain access to accounts holding these assets or trick users into fraudulent deals. 

The month of October has already witnessed a record number of attacks in the crypto space, like the attack on the Ethereum Alarm Clock, the Olympus DAO hack, and more. According to Kaspersky, the spike in these activities indicate difficult times ahead for the crypto space, especially for the metaverse ecosystem. 

Social Media Platforms Also At Risk

Other than the risks of the metaverse, the security firm also explored issues of possible privacy exploitation of social media platforms. With a growing number of social media apps, cybercriminals are getting more opportunities of targeting users. In the crowd of new platforms, it is easy for malicious actors to distribute fake trojanized applications that can infect devices and compromise personal data, leading to data and financial theft.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.