- The Metaverse allows users to create a virtual avatar representing an individual within Virtual Reality world Unfortunately, these components can also serve cyber hackers since they can duplicate an avatar.
- As much as the Metaverse is a cloud-distributed, multivendor, immersive-interactive operating environment, it is not immune to hardware attacks.
- Many individuals and even professionals view blockchain security, or cybersecurity, as a means to protect against cyber hackers
When the Reality of the Metaverse finally dawned on crypto and NFT users, everyone was excitedly berserk. It was the realization of the movie Matrix, and every tech enthusiast saw this as a dream come true. Web3 development had done something that no one thought was possible, that it was merely fictional. However, the amount of positive feedback has been absolute.
Major companies such as FaceBook, Google and many more have jumped on the idea of Virtual Reality, where endless possibilities mean endless cash flow. As soon as this realization sank in, the work of creating the most interactive Virtual environment began, and various iterations were born.
However, many individuals only see the benefits brought by the Metaverse. In contrast, others see it as a tool for corporate evil. Although in this article, we will see the various blockchain security threats and measures involved within the Metaverse. In truth, the damage that can occur within this innovation also has cyber hackers in a frenzy.
Despite this, knowledge is power and knowing where to look should help you navigate the Metaverse with ease, not completely abandon it. Technology is neither good nor evil. It’s based on who uses it and for what reason.
Brief Overview of the Metaverse
The Metaverse is a virtual environment where individuals interact, connect and conduct business. The very building block of the Metaverse is Web3, and its functionalities gave fruits to the many unique capabilities and experiences that the Metaverse has today.
Also, Read Phishing Attack and how it plagues blockchain security.
Fortunately, as the mechanic of blockchain gave rise to crypto, NFT and improved AI, the Metaverse gradually became a reality. However, its first-ever ‘practical’ global debut came during the COVID-19 pandemic, when everyone had to come to terms with ‘working at home. This lack of activity was the highlight of the Metaverse, and it experienced an instant spike in the use of Virtual Reality. Thus the Metaverse, capabilities, and potential received its first taste of proper recognition.
Components of the Metaverse
There are two critical components of the Metaverse:
- Virtual Reality – This aspect provides its artificial reality components generally established by using VR headsets, which immerse the user’s vision and hearing in an artificial environment almost closely related to the actual thing. Other forms of immersion include positional tracking of the reality that enables the individual to feel and interact with the virtual enicuonrmet
- Augmented Reality – It’s generally less immersive than VR but caters for where its lacks. AR adds virtual overlays on the tip of the natural world via a lens. Users typically can see the real world, but AR adds a bit of spice to it but creating artificial frameworks around it. This allows the users to see general things that aren’t there. A mundane example includes a smartphone using the Waze app or Microsoft’s HoloLens.
It is important to note that the primary goal of the Metaverse is to one day combine both VR and AR to create a new virtual environment on top of the real world. This is similar to creating a new form of Realirealityaspect that seemed impossible 30 years ago.
Threats to the Metaverse
The critical aspect of this Virtual Reality is to provide an alternate means of interaction. To connect individuals, artists, business people and even children and a much more interactive platform than social media. Set blockchain security cannot cater for such intervention; hence cyber hackers have taken advantage of this Web3 flaw to not only steal but to cause damage to the Metaverse. These security threats encompass three key areas:
- Interaction
- Hardware
- Socialism
Below are an example of each threat;
Fraud and Phishing Scams
The Metaverse allows users to create a virtual avatar representing an individual within Virtual Reality. Unfortunately, these components can also serve cyber hackers since they can duplicate an avatar. The Metaverse is a haven for various Web3 features such as NFT and cryptocurrency.
Hence it’s generally a well-oiled money-making machine. Many conduct deals via avatars, and impersonation is a serious issue. The interactive nature of Virtual Reality is a breeding place for social engineering since the cyber hacker can actively persuade you in real time.
Also Read 51% attack: The blockchain security threat that blindsides the Proof of Work mechanism.
There are numerous cases where individuals have posed as legitimate businesses or retailers and even NFT collectors. Their method of action is relatively simple but causes severe damage. Pose as a user, disable voice and interact with the client to gain their trust until they reveal the information desired.
Malware
Most individuals do not realize this, but as much as the Metaverse is a cloud-distributed, multivendor, immersive-interactive operating environment, it is not immune to hardware attacks. VR headset is still advanced computer but is still susceptible to malware.
Remember, Web3 is not immune to cyber hackers. Blockchain security is a new gaming area for them to test their abilities. They can gain access to systems, steal personal information or snoop on activities that are likely to lead to a laptop or a smartphone.
The Metaverse holds various aspects, such as NFTs and cryptocurrency. Unfortunately, at times it’s not the target but the means to the target. Those who interact with the Metaverse link their laptops and smartphones to their VR headsets easily access various information. This gateway allows cyber hackers to bypass blockchain security and gain vital information.
A recent example is an attack dubbed “a big brother attack”. It operated around a user downloading malicious software that exploits developer mode. This gave it access to certain privileges, such as screen recording and downloading rights.
Furthermore, it tampered with the VR setting, altering what the user could see. According to Cobalt’s Wong, if an attacker exploits various software vulnerabilities and manipulates the boundaries between virtual and accurate, it could potentially cause actual harm.
Polarization and Radicalization
Many individuals and even professionals view blockchain security, or cybersecurity, as a means to protect against cyber hackers. Unfortunately, this is only half true; security analysts are responsible for ensuring that everyone feels safe and can conduct their businesses in a way that does not interfere with the other.
The Metaverse, unfortunately, lacks the necessary policies to curb this aspect. Web2 is composed of different platforms, some big and some small. As much as it’s interactive, it contains various unseen borders which categorize all these platforms. Web3, on the other hand, advocates for coexistence and cohabitation in a shared persistent virtual space. Most individuals think cyber hackers are the only threat, but that is far from true.
Also, Read Blockchain security core components: Tools to test the security of a blockchain.
Aspects of srealitycyberbullying are a reality in Web3 and have plagued individuals. Now imagine its implication on a platform that merges radically different and possibly opposing groups in one virtual space. Blockchain security will be one of many concerns. As such, VR should have various policies prohibiting such behaviour and conduct. This ensures that every individual with unique traits and behaviours can coexist.
Unfortunately, this is a neglected factor within blockchain security, especially since many believe the Metaverse is a world where they can release their suppressed evil traits.
Conclusion
Blockchain Security encompasses software, hardware and human relation to provide the ideal environment for Web3. The Metaverse is still a working progress, and as much as cyber hackers try to compromise its system, security analysts also have their fair share of contributions. Virtual Reality can completely change how a man views life, but only through set rules and regulations to govern and control what actions are plausible.
