According to the insights presented by Experian, the metaverse is quickly becoming an attractive target for cybercriminals who are fixated on exploiting virtual realms.

Experian reiterated in its recently published report that the metaverse is not just an emerging trend but rather a significant playground for hackers, urging vigilance from users. The latest 10th Annual Data Breach Industry Forecast for 2023 echoes concerns over the increasing dangers in the metaverse, indicating a pressing need for users to be cautious. . 

As hackers continuously seek new avenues for growth, they are now setting their sights on the metaverse. In the first half of 2022, they stolen staggering amounts, and in 2023, the metaverse will be on their radar. $1.97 billion in cryptocurrency Devices operating in VR and AR environments gather extensive personal data and user information, heightening the stakes for data breaches and cyberattacks. The current unregulated landscape of the metaverse further complicates safety for its users.

Experian highlighted that devices specific to the metaverse, including VR headsets and AR eyewear, track users' behaviors, preferences, and even their movements. These gadgets can capture not just the user's likeness but also audio, intensifying the risk of hacking by merging data with personal identifiers. They caution that 'avatars may not represent the true identities of their users.'

According to Arkose Labs, a firm specializing in online account security and fraud prevention, businesses in the metaverse were subjected to 80% more bot incidents and 40% additional human-driven attacks compared to other sectors in 2021.

Cybercriminals are increasingly focused on stealing NFTs, a vital component of the metaverse economy. By selling fraudulent NFTs or infiltrating NFT wallets, they can access users' financial information and personal data. A startling $100 million in NFTs was reportedly stolen by hackers in a single year.

the report stated.

Experian advises individuals and organizations participating in the metaverse to tread carefully, underscoring that the safety practices established in Web 2.0 remain critical even in the immersive environments of Web 3.0. data by Elliptic In 2023, artificial intelligence-fueled cybercrime is set to rise significantly , as the technology expands its reach across various sectors, including healthcare and retail.

With AI's growing influence across industries, we can anticipate a notable surge in AI-driven cyberattacks throughout 2023.

Artificial intelligence tackles challenges that require human cognition. By mimicking brain functions, AI enhances or performs tasks previously dominated by human effort. As beneficial as these technological advancements are, skilled hackers have begun utilizing AI to orchestrate sophisticated cyberattacks.

Cybercriminals harness AI technology to craft convincing phishing emails and produce deceptively authentic audio or video communications. They also have the capability to 'enhance malware with AI to circumvent security systems undetected.'

Conversely, companies are leveraging AI to identify breaches and fortify defenses against intrusions. AI-centric cybersecurity solutions can 'detect patterns and shifts in data that may signify an impending attack.'

The introduction of deepfake technology has paved the way for a fresh kind of social engineering attack, with the potential ramifications detailed in the report indicating that it could lead to widespread global disruption. The line between 'fake news' and reality may blur, making misinformation a focal point of contention in 2023.

Experts maintain that 'organizations need to remain vigilant and proactive against malicious actors who are capable of weaponizing AI.'

The burgeoning realm of virtual reality is still on its way to mainstream acceptance. However, predictions from Gartner indicate that by 2026, around 25% of individuals will allocate at least an hour each day to activities within the metaverse. While people and enterprises adapt to this new virtual frontier, cybercriminals will be actively searching for ways to exploit its weaknesses. deepfakes It’s crucial to clarify that the content on this page should not be taken as legal, tax, investment, financial, or any other form of advice. Always invest cautiously and seek professional financial counsel if you have uncertainties. For more information, it's recommended to review the terms and conditions, as well as the support resources offered by the respective issuer or advertiser. MetaversePost is dedicated to providing accurate and impartial reporting, but the dynamics of the market may change without prior notice.

Agne, a dedicated journalist at Metaverse Post, delves into the latest happenings in the metaverse, artificial intelligence, and Web3 arenas. With a passion for storytelling, she has conducted numerous interviews with industry experts to shed light on captivating narratives. Agne holds a Bachelor’s degree in literature and brings a diverse writing background covering subjects like travel, art, and culture. She has also contributed her skills as an editor for an animal rights group, helping to advocate for animal welfare. Feel free to reach out to her through...

Experian wrote.

Blum marks its first anniversary with honors, being recognized as the ‘Best GameFi App’ and ‘Best Trading App’ at the Blockchain Forum 2025. forecasts Addressing DeFi fragmentation, Omniston presents a solution that enhances liquidity on the TON blockchain.