How Metaverse can threaten companies and their security

2021 was the year for attackers around the world. In 2022 cybercriminals will continue to threaten the security space and Metaverse can be one of the massive exploits that will be targeted.

According to NordPass research and interactive map among the countries with a high risk of password leakage are Russia, the USA, Canada, Australia, and Germany. Being part of the most tech matured countries, the expected metaverse development will raise significant security challenges.

What is Metaverse?

As Wikipedia shares, Metaverse is a fictional world, a network of 3D virtual worlds focused on social connection, facilitated through virtual (VR) and augmented reality (AR) headsets. Previously Facebook, now Meta, plans to collect vast amounts of data, creating digital avatars in a virtual world. In a Matrix-oriented look-alike system, data will fly with the speed of sound, giving its users the ability to create new products and services. The life simulator game “Second Life” is a great example, close to the metaverse.

What security issues does Metaverse raise?

Despite the technological advancement of Metaverse, it brings critical privacy and security challenges.

1. Metaverse is largely uncontrolled

Meta explains it will build an inclusive and empowering platform, taking care of civil rights communities. Despite that, if a company decides to become a meta company, its employees will accumulate an enormous amount of data, which questions how it would be protected appropriately. With all the virtual meetings and information from sensors that will follow, transparency and trust become leading factors for everyone.

2. Scams and frauds will spike

In a Business Insider interview, the Head of outreach of Cisco Talos shared, “There’s a huge potential for things like fraud and other traditional crimes, without there having the safety precautions that you have in other areas”. In the virtual world, virtual goods and products are a target for fraud in such a way that can lead to cash or data extracting from users.

3. From sensors to software – it all needs protection.

Metaverse shares another issue when experiencing the platform connected with the hardware. Regardless of whether or not the platform, is fully functional, cyberattacks will soon start and Metaverse should be ready for them. Presumably, VR glasses and other hardware will be first on the list to get hacked, if they do not include protection.

How to protect against bad actors in virtual worlds?

Metaverse can threaten companies and their security in several ways. With all the data and opportunities that Metaverse will provide, it becomes a desirable asset for bad actors. As Jessica Truong from Hackermoon said, “The Metaverse will require new technologies and more to thwart such attacks”.

Imagine how your digital face can easily become stolen because the platform or someone in the value chain didn’t inspect in advance possible security issues.

What type of protection does Metaverse need?

We can build a long list of security topics on what and how Metaverse should be protected, but let’s point at only a few for now:

• Data privacy – more personal data will be uploaded every second, including tracking from different devices, wearables, individual identification, and more. Biometrics, physiological responses, and more will be available in real-time, gaining insights and deeper understanding.

• Ethics – how algorithms will judge what your data will be used for and not against its users. The development of Metaverse requires the usage of facial recognition technology and raises complex questions on how data will be used in the future.

• Security protocols – a key aspect for digital avatars and their protection. The World’s First Metaverse Protocol has been announced recently launching its public testing phase.

There is no specific answer on how to keep away the bad guys, but security methods will need a totally different approach in the future, including data and AI regulation or even possible Government control.

Metaverse the enterprise!

Among the first Companies Building the Metaverse Right Now are Epic Games, Nvidia, Microsoft, and even Hyundai. The last one builds its own virtual space called Hyundai Mobility Adventure. As the company mentioned: Hyundai Mobility Adventure will launch on Roblox, a company and online entertainment platform at the forefront of the rapidly growing Metaverse industry with 43.2 million daily users. Hyundai Mobility Adventure aims to long-lasting relationships with fans.