Trend Micro flags threats to metaverses

The development of metaverses will lead to the spread of traditional cyber threats within them and the emergence of new ones, according to Trend Micro researchers.

Today we released a new report warning of the “darkverse,” criminality hidden from law enforcement, which could quickly evolve to fuel a new industry of #metaverse-related cybercrime.

For more on this, tune into our live #BHUSA panel, streaming Aug. 10! https://t.co/iGPF2tP2z8 pic.twitter.com/V5kAA1mTQ4

— Trend Micro (@TrendMicro) August 8, 2022

In a new report, experts forecast five major threats to virtual worlds:

• NFTs, widely used in these ecosystems, will be susceptible to phishing, extortion, and other targeted attacks, as they become an important asset for regulating property rights;
• Similar to the dark net, a Darkverse will emerge as a hub for illicit activity, which law enforcement will find extremely difficult to trace, monitor, or penetrate for technical reasons;
• Purchasing overvalued NFTs and metaverse real estate will provide criminals with a new channel for money laundering;
• Criminals and state actors will use social engineering, propaganda and fake news to influence groups that are sensitive to particular topics for their own ends;
• Serious privacy concerns will arise as metaverse operators gain unprecedented access to users’ data and activity.

“The metaverse is a multi-billion-dollar, high-tech concept that will define a new era of the Internet. While we do not yet know exactly how it will unfold, we must start thinking now about how criminals will use it. Given the high costs and jurisdictional issues, law enforcement will generally find it difficult to ensure safety in the early years of its existence,” said Bill Malik, Vice President of Trend Micro.

As Citibank analysts forecast the metaverse economy to reach $13 trillion by 2030.

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