Social engineering attacks to dominate Web3, the metaverse

Researchers predict that a surge in social engineering attacks will dominate web3 and the metaverse. 

Web3 is the term coined for what could become the next face of the internet. The web has shifted from pages containing content to the growth of social media, and now, the concept of a decentralized internet is being discussed under the Web3 banner. 

Part of this transformation could include the ‘metaverse‘ — a 3D environment and virtual world for facilitating social connections, whether personal or for work. Your ID in the metaverse may also end up linked to cryptocurrency wallets, Non Fungible Tokens (NFTs), and various smart contracts. 

As technology vendors work on these concepts, cybersecurity researchers from Cisco Talos have offered their perspective on the potential threats Web3, and the metaverse will face. 

The recent phishing wave experienced by OpenSea users, in which victims were duped into signing off on malicious contract transactions and handing over their NFTs, may highlight the forms of attack we may see more commonly in the future. 

The first issue discussed by the team is the use of the Ethereum Name Service (ENS) and potentially upcoming similar services that are used to compact wallet addresses into a format that

Read More: