The cybersecurity firm Trend Micro, American-Japanese, claimed in a recent analysis that the Metaverse had growing vulnerabilities that could manifest over the next three to five years.
According to Trend Micro, physical risks, augmented reality (AR) threats, social engineering, classic information technology attacks, financial fraud, privacy concerns, and NFT security issues are the biggest threats to the sector, mostly from a regulatory aspect.
The company also thinks that massive e-commerce transactions in the Metaverse environment may attract criminal organizations, claiming they would probably see more pump-and-dump tactics there. Through phony recommendations, endorsements, and investments, malicious actors will increase the value of digital assets and dump the assets. The value of virtual land is, in theory, heavily reliant on perception and subject to manipulation.
Finally, Trend Micro believes that the high expense of intercepting electronic crimes and offenders at scale will make it difficult for law enforcement organizations to operate during the early years of the Metaverse’s development. Additionally, since jurisdiction is challenging to establish, they will struggle. Additionally, because it takes time to develop metaverse knowledge, this category of crimes could initially go mostly unchecked.
Trend Micro Revealed Some Worrying Vulnerabilities Of Metaverse:
The report’s conclusion urges creating appropriate security models for a significant influx of capital into the sector. The Metaverse is a possibility that, in the long run, may unlock “trillions of dollars,” according to Mark Zuckerberg, CEO of Meta.
According to Trend Micro, when any Metaverse user is robbed and then files complaints or legal actions, it will be difficult for the traders. These users will only have decentralized cryptocurrencies, which will add to the complexities of the already complex situation.