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In the metaverse, beware of digital pickpockets

Imagine an immersive digital environment, in which your avatar will be able to do everything you normally do in the “real world”. In it, it will be possible to make purchases both for its human version and in bytes in digitized stores with the currencies that are already digital. There will be shows and cultural events specific to this new world, in addition to being able to work in spaces that simulate your company. This is the Metaverse’s promise to people and businesses for years to come.

The proposal, which gained strength from the change of name of the Facebook group to Meta in October 2021, aims to take our relationship with the internet and digital solutions to a new level. His idea is the creation of virtual spaces shared between different groups, allowing a greater integration between the experience we have in the online world with our experiences outside the internet. Education, health, work and leisure are examples of areas that can be transformed with the Metaverse.

In this case, also the (lack of) security. Now, if the idea is precisely to combine what happens in the real world in a virtual environment, this means that all It’s going to happen digitally, both the good and the bad. It is naive to think that the problems that afflict us on a daily basis will disappear like a magic touch with the Metaverse. On the contrary: when it comes to protecting digital information, there is little care.

Image: Lux Interaction/Unsplash

Using the same logic as the examples cited at the beginning of this text, it is as if our avatars were on a busy street. In these cases, the recommendation is clear: protect wallets, watches and personal objects against the action of thieves. The only difference is that our belongings will be the very digital information we share. If we don’t pay attention, a person can beat our virtual wallet – and bring very real losses.

The Metaverse is already a reality and a path of no return in the face of the digital transformations that have been taking place in recent years. It is the next frontier to be crossed in technology. Therefore, the best alternative is to prepare in advance and protect yourself in this new world that presents itself.

Is the metaverse safe?

Recognizing that there are threats in the Metaverse does not imply that it is an unsafe environment or prone to cybercrime. In fact, it is the same logic that must be used for all digital channels. They do not facilitate criminal actions or enhance security in the exchange of information. They are just the means that people use to socialize, work and play. Safety, or lack thereof, depends solely on our actions.

Image of folded cell phone with cryptocurrencies illustrates digital wallet

Image: Shutterstock

That said, it is necessary to understand the characteristics of the Metaverse to identify how to protect yourself from potential threats and even know which loopholes can be exploited by cybercriminals. The first thing is to realize that this new digital environment actually consists of several worlds. Each organization can create its own location, while we, the users, will have to move from one point to another – which means taking information from one place to another as well.

Another important topic is the use of blockchain in the structure of the Metaverse. There is no doubt that this technology is one of those responsible for the growth of this proposal in recent years. It is recognized as one of the most important security tools for encrypting information with mathematical codes. The problem is that this can also play against: if the user loses access, it will be practically impossible to regain it.

At Metaverso, each interaction that takes place depends on the authorizations and consent we give to other users and companies in relation to our data.

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Image: Facebook/Reproduction

What are the main threats?

With Metaverse it is possible to prepare in advance and ensure that this experience is as positive as possible. Check out:

  • Identity theft: One of the most anticipated crimes in this digital environment is identity fraud. Access to the Metaverse will be possible through an avatar and, of course, through different logins that will give permissions to enter different worlds. Cyber ​​criminals may simply steal your identity to hide other illicit activities or even to generate losses.
  • Financial risks: buying and selling products and services on Metaverse will be a common practice for almost all users thanks to the use of digital currencies in transactions. The point is that where there is money (even if it is digital), there are always crooks with an eye on stealing those amounts. It is necessary to guarantee an extra layer of protection when transacting with your avatar.
  • malware: every interaction results in information exchange. In the Metaverse it is no different: the person will be able to share files, documents and even the tokens. But what if these documents have a virus or malware in your structure? What damage can they cause? The situation is worse for companies: an attack of ransomware can encrypt the entire database and jeopardize the operation.

What’s next

These are just three examples, but the total number of threats that surround people in the Metaverse is much greater. As with any novelty, users will make the most of the features of the new tool and, consequently, this attracts the attention of cybercriminals who take advantage of the “busy street” to steal our wallets.

The possibilities of the Metaverse really are countless. When this happens in the world of technology, it is normal to be dazzled to some extent by so many novelties. Anyone who has followed the last three decades knows what I’m talking about. But at the end of the day, when it comes to safety, you have to follow the wisdom of the good old popular saying: the man (and avatar) forewarned is worth two.

Alessandra MontiniAlessandra Montini Director of LabData at FIA – Laboratory of Data Analysis. Graduated from the University of São Paulo (USP), PhD in Administration from FEA (2003), Master (2000) and Bachelor (1995) in Statistics from the Institute of Mathematics and Statistics IME-USP. The executive is a Consultant in Big Data and Artificial Intelligence Projects, Professor of Big Data; Artificial Intelligence and Analytics, Professor in the Area of ​​Quantitative Methods and Informatics at the Faculty of Economics; Administration and Accounting at the University of São Paulo – FEA, Coordinator of the CNPQ Research Group: Study Center for Econometric Models and Big Data Study Center and also a referee for CNPQ and DA Fapesp. Over these 20 years of her career, Alessandra has already received 40 times the award for “Didactic Performance of the Department of Administration at FEA”, was awarded 4 times as “Best Professor in the Department of Administration” and received more than 20 times the award for “Professor best evaluation of undergraduate and graduate courses at FEA”.

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