The Department of Homeland Security and the FBI observed an 800% increase in cyber-attacks. Most of them have happened within 48 hours from the commencement of the Russian invasion of Ukraine.
Cyberwars of this scale impact every online industry, including the gaming market.
India is at the forefront of the online gaming industry as it surges in 2022:
- India’s gaming industry is the second largest in the world, following Chinese one
- Gaming market in India is worth INR136 billion ($1.8 billion) as of the financial year (FY) 2021
- The eSports, competitive tournaments of video games, are expected to generate INR100 billion ($1.3 billion) between now and FY 2025
- The Animation, Visual effects, Gaming, and Comic sector is set to reach INR127 billion ($1.7 billion) in 2023
As the war continues, it is expected that online fraud will increase in the upcoming months and impact the gaming market.
Cyber Threats to Watch Out
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The unprecedented number of cyberattacks prompted a recent report by mFilterIt, the marketing Ad Fraud prevention platform.
The mFilterIt findings prove that India’s gamers now face more cyber threats than before.
Here are the main ways cybercriminals target players in India during these uncertain times.
In-app Purchase Theft
An estimated 40% of hardcore gamers pay for their games every month. It’s no surprise that in-app purchases are exploited. Gamers can have in-game currency or even real money drained from their accounts via in-app purchase theft schemes.
Account Takeover Fraud (ATO)
Account Takeover or ATO is a growing issue on subscription-based platforms like eSports, eCommerce, or OTT apps. eSports is especially vulnerable as most of the players are under 18 y.o. Hijackers aim to steal or drain funds from compromised accounts.
Data and Privacy Breaches
Children play games on their parent’s phones which gives cybercriminals an advantage. Kids aren’t keeping an eye on cyber threats, putting their parents’ accounts at risk. Once breached, they can be compromised.
Cyberbullying
Children fall victim to many cyber attacks. Cyberbullying can be harmful not only mentally but also cost money. Digital fraudsters may take control over a user’s account and promise to restore access to it only once they receive money.
Ways to Protect Yourself From Cyber Threats
Although the risk of cyber threats increases daily there are safeguards you can take as a gamer. Read here to learn how to prevent a range of digital fraud using a VPN (Virtual Private Network).
Other safety measures for gamers:
- Report and watch out for account takeovers, data breaches, and cyberbullying
- Supervise your children and teach them safe internet practices
- Keep all your software up-to-date
More importantly, national and local governments need to adopt strategies to prevent cyber attacks during the worldwide cyber crisis.
