
Cyber Wars of the 21st Century: Are We Ready for Future Attacks?
Vasyl Hulyi, Journalist
22.12.2024, Germany
The digital age has brought humanity unprecedented progress, but it has also introduced new threats. Cyberattacks have become an integral part of a modern world where warfare extends beyond physical spaces. Power grids, transportation, government systems, and even banks are now primary targets for hackers. Are we prepared to face the challenges of cyber warfare?
Cyberattacks on Banks: Money in the Crosshairs
The banking system has long been a primary target for cybercriminals. In 2016, the world was shaken by an attack on the Central Bank of Bangladesh, where hackers stole $81 million through the international SWIFT system. The attackers used malicious software to send fraudulent transactions, exploiting weak security measures.
Another significant incident occurred in 2022, when the Russian hacker group Conti attacked Costa Rica’s central bank, paralyzing its operations. This attack not only caused financial losses but also undermined trust in the national financial system.
The Crypto Sector Under Attack
Cybercriminals are exploiting vulnerabilities in cryptocurrency platforms. In 2022, hackers targeted the blockchain game Axie Infinity, stealing over $620 million worth of cryptocurrency by exploiting weaknesses in “bridges” — protocols connecting different blockchains.
Another example is the 2014 attack on the cryptocurrency exchange Mt. Gox, where hackers stole around 850,000 bitcoins. At the time, this amounted to approximately $450 million, but today it would be worth billions. These cases highlight that even high-tech companies in the crypto sector remain vulnerable.
AI-Driven Fraud Schemes
The advent of artificial intelligence has made cyber fraud more sophisticated. AI is now used to create fake voices and videos that can deceive even seasoned professionals. In 2020, scammers in the UK used AI-generated voice technology to trick a company director into transferring $243,000, believing he was speaking to his boss.
Phishing schemes have also become more convincing. Hackers use AI to analyze victims’ behavior and create personalized attacks. Malicious emails or messages generated by AI are now so realistic that distinguishing them from genuine ones is nearly impossible.
Mass Attacks: Intimidation Through Technology
Cyberattacks aimed at widespread disruption are becoming increasingly common. In 2017, the WannaCry virus infected over 200,000 computers across 150 countries, locking data and demanding ransom in bitcoin. This attack caused damage to millions of users and paralyzed hospitals, transportation, and businesses.
Another striking example is the 2020 SolarWinds attack. Hackers gained access to the networks of major corporations and U.S. government agencies through compromised software updates.
What Measures Are Needed?
Are we ready for these challenges? The answer remains ambiguous. While governments and companies are investing billions of dollars in cybersecurity, it’s not enough to eliminate threats entirely.
- Strengthening Security for Banks and Crypto Platforms. Multi-factor authentication, regular software updates, and constant transaction monitoring should become standard practices.
- Employee and User Education. Most attacks start with human error. Increasing cyber literacy can significantly reduce the likelihood of successful attacks.
- Using AI for Protection. Modern systems like CrowdStrike and Darktrace already analyze network behavior and detect anomalies indicative of potential threats.
- International Cooperation. Creating global regulators and sharing information between countries can help respond to threats more quickly.
- Developing Systems to Verify AI Content. This will help combat fake voices, videos, and texts.
The Future of Security
Cyber warfare isn’t just about attacking computers; it’s a challenge to the stability and security of entire nations and systems. As the world becomes increasingly interconnected, it also grows more vulnerable.
However, with the right approach—recognizing the problem’s importance, leveraging technology, and fostering international collaboration—humanity can withstand these threats. We live in an era where every click can change someone’s fate, making cybersecurity a priority for all.
Cyber wars are already here. The only question is whether we are ready to strike back effectively.