Security breaches in Metaverse

Newer innovations in the digital world, witnessed a high level of digital exploration and metaverse is gaining heavy traction. The widespread adoption will transform how humans interact with each other in a significant way. However, this new medium, in which people can connect online in enhanced ways, can open up new attack surfaces for cybercriminals.

A report says, an average website is attacked 62 times each day. Needless to say, businesses that are scaling their digital operations need the power to protect their users’ data while also proactively checking for and verifying potential threats to security. That level of protection is only possible with solutions that consider both cybersecurity and cyber resilience.

Cybersecurity and cyber resilience solutions are continually adapting to increasingly complex cyber threats. Cybersecurity and cyber resilience are two strategies to safeguard sensitive information such as a user’s personal and financial data, but they achieve their goals during different stages of a cyber-attack.

Firewalls and antivirus protection, for example, are cybersecurity tools that proactively monitor for threats in network traffic. Cyber resilience, on the other hand, entails hardening data assets’ existing defenses against attacks that are already underway.

With the rise of virtual and mixed reality spaces, new types of attacks on new targets are becoming more likely. Any possible virtual world festivals or events would be an obvious target, although with far fewer consequences than attacks on similar events in the physical world.

While such attacks may cause only minor physical harm, the large sums of money being exchanged for virtual products and virtual real estate could result in significant financial losses for the victims.

With massively increasing volumes of data being stored and traversing networks, cybercriminals have far more targets than ever before. Experts say, Metaverse plays a more dominant role both in terms of brands as well as transaction and the chances of fraudulent activities has increased. Various issues metaverse can cause in theft of data due to the system being faulty. Social engineering can lead to identity theft, among others.

A decentralised identity management solution is highly needed because it allows complete access to one’s own data. The metaverse should use ‘zero-knowledge proof’, which makes the system feature proof in terms of attacks.