The boundaries between the real world and the virtual world are going to be blurred by Metaverse. It is transforming every aspect of humans to seamlessly transition from one virtual world to another. It is connecting the real world with the digital world by integrating emerging tech like 5G, 3d reconstruction, IoT, Artificial intelligence, digital twin, augmented reality (AR), and virtual reality (VR). Metaverse platforms inherit many security \& privacy issues from underlying technologies, and this might impede their wider adoption. Emerging tech is easy to target for cybercriminals as security posture is in its infancy. This work elaborates on current and potential security, and privacy risks in the metaverse and put forth proposals and recommendations to build a trusted ecosystem in a holistic manner.