Post by : Shakul

A sweeping wave of coordinated cyberattacks struck financial institutions, energy infrastructure, ports, and government systems across four continents in the days leading up to intensified US-Israel military operations targeting Iran, raising alarms over the vulnerability of the global financial system.

Cybersecurity analyst Rayad Kamal Ayub, Managing Director of Dubai-based Rayad Group, warned that modern warfare is increasingly being waged through digital networks rather than conventional battlefields.

“The rules of warfare are being rewritten. Hackers are weaponising code to inflict economic devastation that rivals military campaigns,” Ayub said.

Escalation After February 28

According to cybersecurity monitoring firms NetBlocks and Cloudflare, internet connectivity in Iran was severely restricted for more than 48 hours following military escalations beginning February 28. Iranian state television was reportedly hijacked on March 1, with unauthorised footage broadcast — a rare compromise of broadcast infrastructure.

Ayub said attacks intensified against aviation, energy, and government systems in Iran, including communications linked to the Islamic Revolutionary Guard Corps.

Financial Sector and Infrastructure Targeted

Before February 28, Saudi Arabia faced destructive cyber campaigns targeting contractors linked to Saudi Aramco, where data was allegedly exfiltrated before systems were wiped.

In Israel, major banks including Bank Hapoalim, Bank Leumi, and Israel Discount Bank experienced service outages. The national water company Mekorot reported unauthorised access affecting multiple control centres, while the Israel Electric Corporation detected prolonged network infiltration.

Asia-Pacific trade hubs were also disrupted. Jawaharlal Nehru Port and Chennai Port reported delays affecting high-value cargo shipments. Singapore-based DBS Bank, one of Southeast Asia’s largest lenders, experienced service outages impacting millions of customers.

In Europe, major UK banks including HSBC, Barclays, Lloyds Banking Group, and NatWest reported disruptions. The UK National Cyber Security Centre attributed certain attacks to state-linked actors.

Energy and maritime infrastructure were also affected. France’s TotalEnergies reported operational disruptions across multiple countries. The Port of Rotterdam experienced system outages, while Egypt’s Suez Canal Authority confirmed temporary disruption to vessel traffic systems.

Record-Breaking Digital Assaults

Ayub said distributed denial-of-service (DDoS) attacks reached unprecedented levels of 31.4 terabits per second, while network-layer attacks surged sharply year-on-year.

Cyber operations were reportedly linked to multiple state-affiliated groups, including Chinese, Russian, Iranian and North Korean advanced persistent threat (APT) actors deploying AI-driven reconnaissance techniques.

“Adversaries are no longer just breaching systems — they are mapping entire infrastructures and demonstrating the ability to shut down lights, water, ports and financial networks at will,” Ayub warned.

Financial System Vulnerabilities Exposed

The attacks revealed structural weaknesses in centralised financial and infrastructure systems. Analysts warn that as geopolitical tensions escalate, cyber warfare may become a primary tool for economic coercion.

“Every centralised system is a single point of catastrophic failure. Decentralisation may determine whether economies survive prolonged digital conflict,” Ayub said.

The incidents underscore growing concerns that cyber conflict is becoming deeply intertwined with geopolitical rivalries, exposing the fragile interdependence of global finance, trade and energy networks.

#world news #Global News #Dubai