Cybercriminals see the metaverse as a way to launch cyberattacks, launder money, and carry out disinformation campaigns. Credit: Dimitris66 / Getty Images The metaverse is seen by many companies as a great business opportunity and for new ways of working. Security provider Trend Micro, however, warns in a recent research report that cybercriminals could misuse the technology for their own purposes.Security researchers predict that a kind of darknet structure could emerge there, similar to today’s Internet. The machinations of the cyber gangsters could even take place in protected rooms that can only be reached from a specific physical location and via valid authentication tokens. This would make their underground marketplaces inaccessible to law enforcement agencies. In fact, it could be years before the police can operate effectively in the metaverse.Likely metaverse threat scenariosThe researchers warn that the Darkverse could become a platform for cyber threats, including: Attackers target non-fungible tokens (NFTs), an increasingly popular means of defining property in the metaverse, for phishing, ransomware, fraud, and other attacks.Criminals use the metaverse to launder money using overpriced virtual real estate and NFTs.Criminal and state actors create manipulative narratives that reach vulnerable and receptive groups. Social engineering, propaganda and fake news have profound implications in a cyber-physical world. Privacy is redefined. Operators of metaverse-like rooms have unprecedented insight into the actions of the users. Privacy as we know it no longer exists there.“The metaverse is a multi-billion-dollar, high-tech vision that will define the next internet age. While we don’t know exactly how it’s shaping up, we already need to start thinking about how it might be exploited by threat actors and how we can build our own to protect society in a meaningful way.” comments Udo Schneider, IoT security evangelist Europe at Trend Micro. “In view of the high costs and legal challenges, law enforcement agencies will have difficulties monitoring the metaverse in general in the first few years,” Schneider is convinced. He demands: “The IT security industry must intervene now.” Otherwise, “a new Wild West would develop on our digital front door.” Related content news CISA, FBI urge developers to patch path traversal bugs before shipping The advisory highlights how developers can follow best practices to fix these vulnerabilities during production. By Shweta Sharma May 03, 2024 3 mins Vulnerabilities news Microsoft continues to add, shuffle security execs in the wake of security incidents The company has appointed new product security chiefs as well as a customer-facing CISO as it continues to respond to high-profile attacks on its products and own network. By Elizabeth Montalbano May 03, 2024 4 mins CSO and CISO feature Malware explained: How to prevent, detect and recover from it What are the types of malware? How does malware spread? How do you know if you’re infected? We've got answers. By Josh Fruhlinger May 03, 2024 18 mins Ransomware Phishing Malware brandpost Sponsored by Cyber NewsWire LayerX Security Raises $26M for its Browser Security Platform, Enabling Employees to Work Securely from Any Browser, Anywhere Early adoption by Fortune 100 companies worldwide, LayerX already secures more users than any other browser security solution and enables unmatched security, performance and experience By Cyber NewsWire May 02, 2024 4 mins Cyberattacks Security PODCASTS VIDEOS RESOURCES EVENTS SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe