PM Modi's Warning on Cyber Threats: Darknet, Metaverse, and Cryptocurrency
PM Modi's Warning on Cyber Threats: Darknet, Metaverse, and Cryptocurrency

New Delhi:  Prime Minister Narendra Modi has expressed concern over terrorists utilizing the darknet, metaverse, and cryptocurrency for their malicious activities, which could have far-reaching implications for the social fabric of nations. In an interview, the PM emphasized the necessity of global cooperation in combating cybercrimes, highlighting that cyberspace has introduced an entirely new dimension to the battle against illicit financial activities and terrorism.

"Terrorists using darknet, metaverse, cryptocurrency to fulfill nefarious aims; can have implications for social fabric of nations," PM Modi said. He underscored the seriousness of cyber threats, noting that "cyber terrorism, online radicalization, money laundering are just the tip of the iceberg." PM Modi also addressed the issue of disinformation and fake news, stating that "Fake news and deep fakes can cause chaos and erode the credibility of news sources, potentially fueling social unrest." He emphasized the need for a comprehensive international convention to counter the misuse of Information and Communication Technologies (ICTs) for criminal purposes.

This statement comes as global agencies intensify their efforts to combat the increasing number of cyberattacks on various systems. In May of this year, security firm Radware reported that hacktivists claimed 480 distributed denial-of-service (DDoS) attacks targeting Indian websites in the first three months of the year, making India the most targeted country. A report from the German digital association Bitkom revealed that theft of IT equipment and data, along with digital and industrial espionage and sabotage, is projected to cost Germany 206 billion euros ($224 billion) in 2023. This marks the third consecutive year that the damage will exceed the 200 billion euro mark, as per a Bitkom survey of over 1,000 companies. Recently, the Indian Cyber Crime Coordination Centre (I4C), operating under the Union Home Ministry, issued alerts about fake emails impersonating the CEO of I4C. It cautioned government employees and individuals against responding to such emails.

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