Tenable Study: Organizations See Expansion Opportunities, Ignore Security Red Flags and Jump Into the Metaverse

Rhea-AI Summary

Tenable has released a global study highlighting that cybersecurity is the top concern for businesses investing in the metaverse. The survey of 1,500 IT and cybersecurity professionals indicates that 23% of organizations have already engaged in the metaverse, with 58% planning to do so within a year. Despite interest, only a minority feel confident in managing cybersecurity threats. Major risks identified include phishing and identity theft, and key barriers are the lack of clear data privacy processes and experienced professionals. The report underscores the need for robust cybersecurity frameworks before venturing into the metaverse.

Positive

• 23% of organizations have already ventured into the metaverse.
• 58% plan to conduct business in the metaverse within the next year.
• 87% of respondents support regulating the metaverse.
• 90% agree on the necessity of developing a cybersecurity framework before offering services in the metaverse.
• 55% indicate a need for employee training on cybersecurity practices related to the metaverse.

Negative

• Less than half of respondents feel confident in managing cybersecurity threats in the metaverse.
• 34% cite security breaches and identity theft as major barriers.
• 33% indicate the lack of clear data privacy processes as a concern.
• 32% state a shortage of experienced security professionals to secure the metaverse.

COLUMBIA, Md., Dec. 12, 2022 (GLOBE NEWSWIRE) -- Tenable^®, the Exposure Management company, today published the results of a global study that revealed that cybersecurity is the top consideration as businesses decide on investing in the metaverse. In fact, even in a challenging global economy, concerns about macroeconomic conditions trailed behind cybersecurity worries. This sentiment underscores the rising criticality of cybersecurity in a digital economy to ensure it is a safe and secure environment for users.

The study, “Measure Twice, Cut Once: Meta-curious Organizations Relay Security Concerns Even as They Plunge Into Virtual Worlds,” surveyed 1,500 IT, cybersecurity and DevOps professionals in Australia, the U.K. and U.S. The study examines how organizations are approaching the opportunities and challenges associated with building, securing and participating in the metaverse, as well as offering insights into the risks and rewards of investing in this new technology.

While still in its relative infancy, organizations have begun to explore the metaverse and its capabilities. In fact, 23% of organizations have already ventured into the metaverse, and 58% plan to conduct business in the metaverse within the next year.

Less than half of respondents feel very confident in their ability to curb threats in this new environment, the metaverse poses both new and legacy cybersecurity risks and challenges. According to survey respondents, threats that are either “somewhat” or “very” likely to take place in the metaverse include:

• Conventional phishing, malware and ransomware attacks (81%)
• Compromised machine identities and API transactions (84%)
• Cloning of voice and facial features and hijacking video recordings using Avatars (79%)
• Invisible-avatar eavesdropping or 'man in the room' attacks (78%)

In addition to the cybersecurity threats, respondents identified several major barriers to entry, including the prospect of security breaches and identity theft (34%), the lack of a clear process for data privacy (33%) and the lack of experienced security professionals to secure the metaverse (32%).

“As with any new business opportunity, first movers have the advantage and the risk,” said Bob Huber, chief security officer and head of research, Tenable. “The foundation of the cybersecurity program must be solid before making a big leap into largely unknown territory and drastically expanding your attack surface. Forward-thinking organizations that take the time and make wise investments in their security personnel and the security and integrity of their infrastructure are more likely to be successful in the metaverse or any other technology investment.”

Other key findings from the report include:

• 87% of respondents are in favor of regulating the metaverse.
• Nine in 10 respondents agree that organizations need to adequately develop a cybersecurity framework prior to offering services in such a virtual environment.
• More than half (55%) of respondents said their organization will need to invest in training their current employees about safe cybersecurity practices to support their investment in the metaverse.
• When asked about the skills required for the metaverse, respondents cited UI/UX designing, 3D modeling, blockchain and gaming development, cybersecurity and software development as important development areas.

To read the full study, visit: https://www.tenable.com/cyber-exposure/managing-risk-in-the-metaverse

Additional resources are available on the Tenable blog: https://www.tenable.com/blog/what-happens-when-the-metaverse-enters-your-attack-surface

Note to Editors:

• Opinion Matters conducted an online survey on behalf of Tenable of 1,500 professionals representing roles in cybersecurity, DevOps and IT engineering. The study was fielded in Australia, the U.K. and the U.S. in October and November 2022.
  

About Tenable
Tenable^® is the Exposure Management company. Approximately 40,000 organizations around the globe rely on Tenable to understand and reduce cyber risk. As the creator of Nessus^®, Tenable extended its expertise in vulnerabilities to deliver the world’s first platform to see and secure any digital asset on any computing platform. Tenable customers include approximately 60 percent of the Fortune 500, approximately 40 percent of the Global 2000, and large government agencies. Learn more at tenable.com.

Media Contact:
Tenable
tenablepr@tenable.com

FAQ

What did Tenable's recent study reveal about cybersecurity in the metaverse?

Tenable's study found that cybersecurity is the primary concern for businesses investing in the metaverse, with many organizations highlighting various threats they face.

How many organizations have ventured into the metaverse according to Tenable's study?

The study indicates that 23% of organizations have already ventured into the metaverse.

What percentage of respondents support metaverse regulation?

According to the study, 87% of respondents are in favor of regulating the metaverse.

What cybersecurity threats are prevalent in the metaverse based on Tenable's findings?

Tenable's findings show threats such as phishing, malware, compromised identities, and eavesdropping are prevalent in the metaverse.

Why do organizations hesitate to invest in the metaverse according to Tenable's research?

Organizations hesitate due to concerns over security breaches, identity theft, and a lack of clear data privacy processes.