Nation-state cyber attacks: Are you at risk?

Cyberattacks orchestrated by nation-state actors have escalated into a serious geopolitical concern, impacting national security, economies and critical infrastructure. 

Governments, corporations and even individuals are vulnerable to these sophisticated threats, which range from espionage and financial theft to large-scale disruption. 

The economic cost of cyberattacks is staggering; global cybercrime damages are projected to reach $10.5 trillion annually by 2025. 

As state-sponsored cyber warfare becomes an integral part of modern conflict, nations must take urgent and decisive action to defend against evolving threats.

Evolving cyber threat landscape 

The cyber threat landscape is shifting rapidly, with nation-states engaging in both direct attacks and proxy operations. 

One of the most significant cyberattacks in modern history was the Stuxnet worm, which sabotaged Iran's nuclear programme, demonstrating how cyber warfare can directly impact national security and military capabilities. 

Another devastating cyberattack, NotPetya in 2017, initially targeted Ukraine's financial and government institutions but quickly spread worldwide, impacting major corporations such as Maersk, Merck and FedEx, and causing an estimated $10 billion in damages.

High-profile breaches underscore growing vulnerabilities

In 2020, the SolarWinds supply chain attack infiltrated US federal agencies, including the Department of Homeland Security and the Treasury, along with major corporations such as Microsoft and FireEye. 

This attack exposed sensitive data and highlighted vulnerabilities in global IT infrastructure. In 2014, Sony Pictures was targeted in a cyberattack that resulted in leaked confidential corporate data, financial losses, and reputational damage. 

Similarly, cryptocurrency-related cyber attacks have been on the rise, with nation-state actors reportedly engaging in high-profile cryptocurrency heists to fund illicit activities. The 2015 breach of the US Office of Personnel Management exposed sensitive records of 22 million individuals, highlighting vulnerabilities in national security data.

Recent incidents demonstrate persistent risks

In recent years, cyber threats have continued to evolve, with new incidents demonstrating the persistent risks. More recently, in late 2024, a sophisticated cyber espionage campaign dubbed "Salt Typhoon" targeted multiple US telecommunications companies, including major providers such as Verizon, AT&T, and T-Mobile. 

In early 2025, US authorities indicted 12 individuals linked to extensive cyberattacks on government institutions, human rights activists, and foreign embassies. 

The healthcare sector in Australia and New Zealand has also faced a surge in cyberattacks from both cybercriminals and state-sponsored actors seeking valuable data.

Financial institutions remain prime targets

Financial institutions are prime targets for nation-state cyberattacks. In 2016, the Bangladesh Bank cyber heist resulted in the loss of $81 million through fraudulent SWIFT transactions. 

Another example includes coordinated cyberattacks on financial institutions in multiple countries, including India, Taiwan, and Mexico, which led to large-scale ATM cash-outs and fraudulent transactions amounting to hundreds of millions of dollars. 

These attacks illustrate the potential of cyber warfare to destabilise national economies and financial systems.

Critical infrastructure under attack

Beyond financial motives, nation-states aim to disrupt critical infrastructure such as power grids, water supplies, and healthcare systems. In 2015, Ukraine's power grid was attacked, leaving over 230,000 people without electricity, marking one of the first known cyberattacks to cause a blackout. 

In 2021, the Colonial Pipeline attack in the US led to widespread fuel shortages across the East Coast, causing panic buying and economic disruption. Healthcare systems have also been targeted; in 2020, cyberattacks on hospitals in Germany led to emergency services being disrupted, resulting in at least one patient death linked to the incident. 

The UK's National Health Service (NHS) was severely impacted by the 2017 WannaCry ransomware attack, causing appointment cancellations and disruptions in medical services nationwide.

Building robust national cyber defences

Defending against nation-state cyber threats requires a multi-layered strategy. Governments must strengthen their cyber defences through advanced threat intelligence, zero-trust security models, and collaboration with international partners. 

The European Union has introduced the NIS2 Directive, mandating stricter cybersecurity measures for essential industries. 

The US Cybersecurity and Infrastructure Security Agency (CISA) has ramped up initiatives to protect critical infrastructure, while NATO continues to enhance its cyber defence capabilities. 

Bangladesh has taken steps to bolster cybersecurity resilience through initiatives such as the establishment of the Bangladesh e-Government Computer Incident Response Team (BGD e-GOV CIRT), and capacity-building programmes for financial institutions to prevent large-scale cyber fraud.

Corporate responsibility and proactive defence

Corporations must adopt proactive security measures, including endpoint detection and response (EDR), artificial intelligence-driven threat analysis, and continuous security audits. 

Cyber hygiene practices such as multi-factor authentication, encryption, and privileged access management must be standard protocol. Incident response plans and regular cybersecurity drills are essential to mitigating the impact of breaches. 

Companies should also invest in cyber insurance to reduce financial exposure to cyberattacks. Establishing Security Operations Centres (SOCs) with 24/7 monitoring, integrating deception technology to detect advanced threats, and implementing continuous workforce cybersecurity training are additional measures businesses should adopt to mitigate risks.

Public policy and global collaboration

Governments should implement stronger cybersecurity regulations and compliance frameworks for industries handling sensitive data. National cybersecurity drills and simulations must be conducted regularly to test incident response capabilities. Information-sharing between government agencies and the private sector can help identify and mitigate threats more efficiently. 

Nations must also collaborate on global threat intelligence platforms, such as Interpol's Cyber Fusion Centre and the Five Eyes intelligence alliance, to counteract cyber threats at an international level. Investing in offensive cybersecurity capabilities, such as ethical hacking teams and cyber threat hunting programmes, can also help nations proactively identify and neutralise threats before they escalate.

Raising public awareness and individual responsibility

Individuals are often the weakest link in cybersecurity. Social engineering attacks, phishing scams, and credential theft remain effective tactics for cyber adversaries. Raising public awareness through cybersecurity education is crucial. Individuals must use strong, unique passwords, enable two-factor authentication, and remain vigilant against suspicious emails and links. 

Governments and private organisations should collaborate to conduct nationwide cybersecurity awareness campaigns to build a resilient digital society. Encouraging the use of password managers, promoting digital literacy programmes, and incentivising cybersecurity training for employees can further strengthen individual security practices.

Future outlook: AI, quantum computing, and the next frontier

The future of cybersecurity will be shaped by the increasing integration of artificial intelligence in both defence and attack strategies. AI-driven cybersecurity solutions can predict and prevent cyber threats with greater efficiency while adversaries are using AI to develop more sophisticated attacks. 

Quantum computing, once fully realised, could render current encryption methods obsolete, necessitating a shift towards quantum-resistant cryptography. Governments and enterprises should begin exploring post-quantum cryptographic standards to future-proof their cybersecurity infrastructures. The development of threat intelligence-sharing consortia among multiple industries can provide real-time alerts and prevent large-scale cyber incidents before they occur.

Cyber warfare is no longer a distant threat — it is happening now, affecting national security, economies, and everyday lives. Governments, corporations, and individuals must act decisively to build a cyber-resilient future before the next major attack strikes.

The fight against cyber threats requires a unified effort, proactive defence mechanisms, and continuous adaptation. By taking decisive action today — strengthening regulations, adopting advanced cybersecurity technologies, and fostering international cooperation — nations can mitigate the risks posed by state-sponsored cyber threats and build a more resilient digital future.

B M Zahid ul Haque is an experienced CISO and cyber digital transformation strategist. The author can be reached at bmzahidul.haque@gmail.com.

Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the opinions and views of The Business Standard.