Data Theft Risk Identification and Governance in the Metaverse Economy: Based on the Bybit Cold Wallet Theft Incident

DOI

10.2991/978-94-6463-874-5_82How to use a DOI?

Keywords

Metaverse Economy; Bybit Cold Wallet; Threshold Signature Scheme (TSS)

Abstract

With the rapid development of the meta-universe economy, new types of risks such as data theft are becoming more and more prominent, seriously threatening economic security and user trust. This paper takes the Bybit cold wallet theft incident as a case study to analyse the causes, impacts and governance strategies of data theft risks in the meta-universe economy. It is found that technical defects such as smart contract loopholes, weak authentication mechanisms and unencrypted cross-platform data interfaces are the main sources of risk, leading to huge asset losses, market panic and economic ecological imbalance. At the same time, the lack of legal regulation and users’ lack of security awareness aggravate the risk proliferation. To address the above issues, this paper proposes to introduce Threshold Signature Scheme (TSS) to optimise key management at the technical level, improve cross-border data governance and asset insurance system at the legal level, and strengthen self-regulation, collaboration and security education at the industry and user levels. The conclusions of this study can provide a basis or reference for multi-dimensional collaborative governance to build a secure and trustworthy meta-universe economic ecology.

Copyright

© 2025 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Download article (PDF)

TY  - CONF
AU  - Hang Xu
PY  - 2025
DA  - 2025/11/03
TI  - Data Theft Risk Identification and Governance in the Metaverse Economy: Based on the Bybit Cold Wallet Theft Incident
BT  - Proceedings of the 2025 International Conference on Financial Innovation and Marketing Management (FIMM 2025)
PB  - Atlantis Press
SP  - 710
EP  - 719
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-874-5_82
DO  - 10.2991/978-94-6463-874-5_82
ID  - Xu2025
ER  -