In a new report published by American-Japanese cybersecurity company Trend Micro, the firm said that the Metaverse possesses increasing vulnerabilities that could materialize within the next three to five years. As told by Trend Micro, the top threats to the sector, mainly from a regulatory standpoint, include NFT security concerns, the development of a “darkverse” similar to the dark web, financial fraud, privacy concerns, physical threats, augmented reality (AR) threats, social engineering and traditional information technology attacks. With regard to NFTs, Trend Micro specifically wrote: “NFT ownership is verified using blockchains so they are susceptible to blockchain hijacking attacks. NFTs that rely on smaller blockchains could be vulnerable to a Sybil attack. This is where the attacker gains control of more than 50% of the peer nodes that verify transactions and thus can manipulate NFT ownership verification. Finally, a metaverse space may not honor the ownership asserted in the NFT as there is no legal reason to do so.”
Read more : Trend Micro calls out vulnerabilities in metaverse security development.
