Image courtesy of SC Magazine
Arkose Labs CEO Kevin Gosschalk tells SC Magazine that as financial institutions stake a presence in the metaverse — following the lead of JP Morgan and HSBC — the channel risks becoming a hotbed for ticket-scalping and resale fraud as transaction volumes grow. Gosschalk predicts that as metaverse channels gain commercial traction, automated botnet attacks will follow, requiring banks to rethink their fraud prevention strategies for virtual environments. He cautions that the metaverse opportunity, estimated at over $1 trillion, comes with a threat surface that financial firms must plan for proactively.
