Oracle has released patches for ten vulnerabilities in VirtualBox which allow attackers to break out of guest operating systems and attack the host operating system that VirtualBox runs on. Exploits ...

It is the first thing you need to fix the issue as stated above. For that, you need to run the virtual machine showing the error and go to the Devices > Install Guest ...

If you get the Failed to create a proxy device for the USB device error when you try to connect an external USB hardware when running a virtual machine in VirtualBox ...