Metaverse could bring next-gen security problems, expert says
While metaverse could lead to an accelerated internet transformation from Web 2.0 to Web 3.0, a tech expert warned companies that it could bring in new cybersecurity threats to their systems.
According to Anna Collard, SVP of content strategy and evangelist of security firm KnowBe4 Africa, metaverses could be a “breeding ground” for hackers.
She explained that metaverse and non-fungible token (NFT) platforms are often based on blockchain or distributed ledger technology. This could, in turn, open up a world of infinite vulnerabilities to both users and companies.
Dubbed the next evolution of social connection, a “metaverse” is a virtual reality space where users in different parts of the globe can interact with each other. Each metaverse has its own set of coins used for paying everything, called metaverse tokens.
Collard stated that metaverse users could be easily exposed to phishing scams via e-mail, social media, or third-party apps; fake marketplaces; hacking of smart contracts; hackers tampering with token metadata; crypto-malware; crypto-jackers or netsplits in blockchains, among others.
The tech expert added that in Africa alone, 13% of investment scams in 2021 were crypto scams.
These scams access victims’ crypto-currency wallets and account credentials and could rake in almost half a million dollars in pilfered Bitcoin for thieves.
