Into the Metaverse: A Systematic Review on Taxonomy of Threats and Vulnerabilities in the Web 3 Space-A Filipino Context

Due to the COVID-19 pandemic’s global impacts’ hurting the global economy, they have sought alternatives to make ends meet. Many have adopted emerging media to make money based on testimony from social media influencers on platforms such as TikTok and YouTube. This ecosystem of new technology has been referred to as Web 3.0. Significant amounts of wealth trade hands within this space—a fact that has motivated not just Filipinos interested in new ventures but also various groups of attackers. Filipinos, in particular, were one of the groups most affected by a cyberattack on the popular play-to-earn game Axie Infinity, where estimated billions were stolen, leaving the game’s players—like the many Filipinos who played the game to support themselves during the pandemic—without income. Much can be learned from discussing and researching what new threats this space represents. The researchers attempt to create a taxonomy of the threats these new platforms have and the solutions to these issues. It is, therefore, imperative to log and understand these threats before these new platforms become commonplace in the Philippines. What draws the Filipinos to these ventures, and what techniques they are convinced to sign on to them? What are the methods by which they operate? A solution or array of solutions may be drafted to control their influence. After creating the taxonomy, the researchers constructed a survey to test for security habits based on this taxonomy.