From physical hardware to virtual identities, security risks in the metaverse abound. Entrepreneurs need to be proactive if they hope to survive.
Hyped as it is, the Metaverse remains largely undefined. It’s a challenge to answer the question “What is the Metaverse?” in part because its definition depends on whom you ask. As it stands today,and what we might previously have called “cyberspace” — including digital assets like non-fungible tokens , cryptocurrencies and more.
As people create, expand and join metaverse worlds, the huge and powerful potential of this virtual space creates new attack surfaces for bad actors to test and breach. The assemblage of hardware from multiple sources required to successfully enable entry into this digital reality invites increased threats like the man-in-the-middle attacks we’ve seen at ATMs and on mobile applications.
Tracking fraudulent activity and implementing secure authentication can make a significant difference against cybersecurity threats, particularly in crypto. Threats happen faster than ever before, so continuous monitoring of risks is a necessity. This opens individuals, as well as the companies that operate metaverse territories, up to even greater potential risk. With innovation rapidly expanding and security a lower priority, it is difficult for users and metaverse technologists to tell the “good guys” and the “bad guys” apart.
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