How To Not Create Metaverse a “Crimaverse” - Avoid Bugs

The year 2022 had us bumping into the word “Metaverse” repeatedly. The concept of Virtual Reality is getting a new definition after the evolution of the metaverse. Businesses are finding all their ways to invest in this new big thing. The companies have recognized that the metaverse can give them new ideas to engage and make relationships with their customers.

The concept of a shared, persistent virtual space for gatherings, games, and socializing is the foundation of the metaverse. All the things we can experience in real life are possible in the metaverse by utilizing advanced technology such as web3.0, Blockchain, and VR/AR.?

Regardless of the benefits, that metaverse will provide us in the future it will also bring its sets of risks and theft of security. Scams, impersonation, credential theft, technological debt, social engineering, espionage, vulnerabilities, and misinformation are just a few examples of the security issues that will follow us into the metaverse. They might even cause more harm.

Dangers in the Metaverse

As more people and companies move to the metaverse, there are rising concerns that crime in the metaverse will be rising.?Here are some of the most common security concerns we have to be aware of before using the virtual world:

1.Phishing Scams:

Cybercriminals today use social engineering techniques such as phishing scams as their initial attack on users.?

There have been recent attempts to mislead Decentraland users by making them click phishing links instead of real links and domains.?This tricks the users into putting their private wallet keys that allow the scammers to steal their cryptocurrencies.

The attackers can use deep fake knowledge by impersonating trusted institutions and avatars to gain their trust and then attacking the personal information of the user. This makes it easier for hackers to access their accounts and systems, steal their personal data, and obtain their banking credentials.

• To prevent Phishing scams there need to be standards made that enable users to confirm the authority of the organizations and avatars they interact with. Organizations need to ensure their security and verification to protect themselves against digital identity threats.?

2. Software Vulnerabilities & Malware:

Malware that targets crypto wallets is already being exploited to steal users' cryptocurrencies, tokens, and NFTs. some of the crimes include cyber extortion and ransomware.?A large percentage of attacks done against web3.0 platforms are made possible due to flaws in the underlying software and smart contracts.?

Apart from the crimes in the metaverse platforms we all have to keep an eye on VR (virtual reality) and AR (augmented reality) wearables and headsets. These devices are small computers that have a lot of software and memory which makes them sensitive to attacks.

Research has shown hackers could hack the AR and VR headsets and steal the sensitive information of the users through the voice command including debit and credit card passwords.?

• To prevent those attacks and malicious software, it is crucial to fix bugs and flaws in the platforms, smart contracts, and AR and VR headsets.?

3. Content Risks:

A problem that is faced on all digital and virtual reality platforms is trolling and sexual and racial harassment. This crime has been living on digital platforms for a long time.

This kind of trolling can be very dangerous for the victim’s mind and health, especially for children. Because of gaming children are more likely to get exposed to these kinds of violent content without their parent's knowledge.?

• The prevention of this crime is through the tools of muting, blocking, and reporting inappropriate behavior that is available on the VR platform. It is critical to educate new users and vulnerable groups, such as children, on how to use these tools.

How to prevent cybercrime on the metaverse in the future?

Metaverse development companies and businesses that interact with the digital platform on the day to day basis need to collaborate with a team that handles the security and prevents risk early on so that they can identify the threat early on to protect their platform from any upcoming attacks.?

Another method organizations can use is to train their team of designers and developers to check the app for the risks involved before it goes live.?

Educate users about the platform threats that any user who uses the new technology is potentially a target in the eyes of attackers. People also need to familiarize themselves with the threat of phishing scams, software vulnerabilities, malware, and common scams along with the best practices to follow to safeguard themselves, their digital wallets, and assets against the crime.?

The major responsibility in protecting people from metaverse crime is of the policymakers. They must enact laws that safeguard consumers and weaker groups while not restricting innovation.

We can only prevent the metaverse from drowning in threat and crime by putting safety first and developing new safety rules and strategies that don’t restrict innovation and forward-thinking. It is essential for platforms and companies to focus on safety and security along with the development of the metaverse.?