Virtualization in cloud is growing at rapid pace in IT Industry since it provides multiple logical resources in a single physical machine. Within the last five years, cloud computing has seen a tremendous growth and this has forced many businesses to transform on cloud computing since it offers elasticity and resources which are not economically feasible otherwise. Virtualization is a complex scheme and it will require a robust security protection from malicious attacks which can compromise our data. We will discuss common loopholes in the current virtualized environment. Also we will compared multiple schemes presented in different literature to determine a viable solution to address the security risk present in virtualized.