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The rise of online gaming has introduced various risks such as identity theft and data breaches. Key risks include fraud, malware, hacking, in-game purchase scams, social engineering, phishing, bullying, data mining, loss of game savings, and physical injuries from excessive gaming. Users can protect themselves by observing proper cybersecurity practices like using strong, unique passwords, regular software updates, cautious sharing of personal information, and installation of credible anti-virus programs. Taking regular breaks during gaming can help prevent physical injuries.