Hong Kong Police Unveils Metaverse Platform to Counter Digital Threats May 29, 2023 May 29, 2023 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsMay 29, 2023 by Kelly Cromley

Hong Kong Police Unveils Metaverse Platform to Counter Digital Threats

The cyber security division of the Hong Kong Police Force has recently introduced a new initiative called CyberDefender, which is a state-of-the-art metaverse platform aimed at keeping up with the advancements in the digital realm. The aim of this initiative is to provide education to the general public regarding the possible risks associated with Web3 and the growing metaverse.

On May 27, the Hong Kong Police Force’s Cyber Security and Technology Crime Bureau (CSTCB) introduced a cutting-edge metaverse platform. The platform’s aim is to equip the public with the necessary tools to tackle upcoming digital challenges, with a particular emphasis on thwarting technology-related offenses. CyberDefender organized an event called “Exploring the Metaverse” on its inaugural day, which covered three virtual venues and delved into strategies for preventing criminal activities in the metaverse.

During the program, Ip Cheuk-yu, a senior police official of CSTCB, stressed the significance of adopting a cautious approach in the metaverse. He stated that the decentralized arrangement of virtual assets in Web3 has led to an increased probability of cybercriminals targeting end-user devices, digital wallets, and smart contracts.

The Hong Kong Police Force has announced its plans to enhance its public education efforts, with a particular focus on technology crimes, in light of a significant surge in virtual asset-related criminal activities reported in Hong Kong during the first quarter of 2023. The initiative aims to raise awareness among the general public, especially the youth, about the risks associated with such crimes. During the initial four months of 2023, a total of 663 offenses related to virtual assets were reported, leading to a staggering loss of $570 million. The depicted number indicates a surge of 75% as compared to the initial quarter of the prior year.

On May 22, an announcement was made regarding the launch of the China Metaverse Technology and Application Innovation Platform in Nanjing, which is the capital of Jiangsu province located in eastern China. The Nanjing University of Information Science and Technology is spearheading an innovative project that is poised to advance metaverse research and development on a national scale.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.