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How To Approach Security in the Metaverse in 2023 and Beyond

The metaverse is predicted to become a $5 trillion market by 2030 and despite various unknowns with its infrastructure and security, about 28% of organizations have already begun developing metaverse initiatives. That’s according to a new report that Tenable released, which explores the metaverse’s top threats, security concerns and barriers to adoption.

We spoke with experts from Tenable to understand on a deeper level what their recent report uncovered, the top security and privacy concerns of the metaverse, and how CISOs should approach the concept of the metaverse in 2023 and beyond.

We've heard a lot about the benefits of the metaverse. What are some of the top security and privacy concerns?

Satnam Narang, senior staff research engineer, Tenable:

The older threats, specifically phishing, malware and ransomware, will have the most immediate and greatest impact to the organizations developing and hosting each metaverse. This aligns with what we found in our report, with 81% of respondents saying that it is likely or somewhat likely that these conventional attacks may occur in the metaverse. If there is one thing that’s certain, once the metaverse becomes more widely adopted, the newer threats will start to emerge as a problem, so it’s critical that the organizations developing metaverses today do their due diligence to protect their infrastructure from attacks now.

What steps should a company first take before scaling its business to the metaverse?

Bob Huber, chief security officer and head of research, Tenable:

Educate your workforce on the metaverse and the business opportunity. Understand the possible risks, not just security, but all enterprise risks. Develop and agree on a plan to manage those risks - whether that is mitigating, transferring or accepting the risk.

How should CISOs think about protecting their organization in the metaverse?

Bob Huber, chief security officer and head of research, Tenable:

It’s just a new medium, or market. Hopefully you already have in place a process to assess the security risks for new markets and products. Be vigilant. The metaverse is likely to quickly change and adapt. Have expertise at the ready to keep up with this emerging space.

How do you see the metaverse concept evolving in 2023?

Satnam Narang, senior staff research engineer, Tenable:

I believe we’re still really early in the development of various metaverses by different organizations and entities in the cryptocurrency space, so I expect business-focused interest to continue, as organizations dip their toes into the metaverse. Established gaming-focused metaverses have led the charge and will likely carry that momentum into 2023. As soon as a more corporate-focused metaverse approach arrives, that’s when the real shift will truly begin. ###


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