How the Metaverse is used by cybercriminals – Interstars

At this time, in many places, the ” metaverse “during development. Facebook’s mom Half around Mark Zuckerberg want to play here, as well as Microsoft. In the future you should metaverse work and hold meetings, for example, and everyone sees a virtual avatar. It is also possible to purchase virtual goods, such as pictures, real estate or hair jewelry. Business experts in cybersecurity Trend Micro now I feel that soon a ” dark verse‘could occur. This means that cybercrime could quickly spread to new platforms on the internet.

Everything we know about the old online world could soon happen there too: extortion, data theft and identity. “From the perspective of cybercriminals, this is a profitable business model. There, too, there will be money to be made from crime, “he explains Udo Schneidersecurity expert at Trend Micro of futurezone.

NFT scams

“There have already been successful fraud attempts where virtual assets have been stolen,” says Schneider. This affected approximately Non-fungible tokens (NFT). These are used in the metaverse to prove ownership. The users were NFT des Bored Ape Yacht Club on the value of a cyber attack 200 ethers ($ 357,000) stolen. Using the identity of a real community manager, many NFT owners have been tricked into clicking on a specific link that was supposed to provide “exclusive freebies”. But instead of freebies, clicking the link for victims ended up being one less NFT in their collection. In doing so, the users signed a blank transfer with which they had assigned their NFTs.

The NFTs of the Bored Ape Yacht Club have been stolen

This adds another dimension to online fraud as we already know it from conventional online platforms. NFTs are therefore a popular target for cybercriminals. “Of course people will lose NFT because of this,” auch says Otmar Lendl Internet firefighters CERT.at to the future area. “Wherever there is money, there is crime,” Lendl says.

“We have also seen a number of ransomware groups targeting him Ethereum and Bitcoin wallets they planned. In these cases, certain file types are deliberately addressed in the encryption code, “Schneider says. Ultimately, this leads owners to rely on their cryptographic wallets it can no longer access it because the files are encrypted. Access to your cryptocurrency assets is therefore limited. This is problematic as law enforcement has relatively little power to help.

“Wherever there is money, there is also crime. “

the police blocked

“It’s a big deal that there is no real estate value in the digital realm that can be recovered by the police. Returning stolen goods becomes really difficult in the metaverse, “says Lendl.” NFTs like Bitcoin are tied to wallets. If the wallet is gone, or if I lose the key, or if it was stolen, it’s all gone.

Schneider also fears that the police are having a hard time in the Metaverse. This is because nothing happens publicly there and chat rooms can be programmed to keep the police out. “Login links, for example, can only be used once. This allows for better control of virtual spaces, ”says Schneider on the technical possibilities of blocking the police from all activities in the metaverse.

Money laundering with overpriced virtual goods

Another problem could be that in the Metaverse it is easy money laundry let it be: criminals can buy and sell virtual real estate here for outrageous money. “If I am not mistaken as a wallet owner, there is no chance of it being recognized,” says Schneider. Reference is also made to the concept of ” silver mules »Location. “These are individuals who provide their own wallet for transactions and are therefore allowed to hold some of the money that goes through their wallet,” Schneider explains. This makes it technically impossible to prove where the transactions are coming from and where they are going, as the number of transactions is simply too high to be able to track everything. “Law enforcement should hope for the fools here who simply enter their wallet ID,” Schneider says.

“The IT security industry must step in now or risk a new Far West developing on our digital front door,” warns the IT expert. According to Lendl of CERT.at, no specific cases of cybercrime have been reported in the Metaverse in Austria so far. “But I am extremely skeptical of the sustainability of current metaverse ideas in the advertised form,” says Lendl.

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