Russia, China, and North Korea plotting to hack UK economy and 'grind country to a halt'

Cyberattackers are targetting the UK, experts have warned (Image: Getty)

The UK faces an escalating threat from hostile states, including Russia, China, and North Korea, with cyberattacks threatening to wreak havoc on the economy and drain the cash out of Britain, experts have warned.

All three nations are known to be constantly probing the UK's digital infrastructure, looking for weaknesses to exploit in order to cause mass disruption that could grind the nation to a halt.

Professor Alan Woodward, a computer security expert at the University of Surrey, raised concerns over the vulnerabilities exposed by the country’s growing dependence on digital transactions.

He told The Telegraph: “If something is ‘smart’, it’s hackable.

"We’re totally dependent on digital payment infrastructure. A large-scale cyberattack would have a profound effect on daily life. The country would grind to a halt.”

North Korean Supreme Leader Kim Jong-un (Image: Getty)

Prof Woodward stresses the importance of preparing for the worst, advising that contingency plans, including maintaining access to physical currency, are essential in case of a widespread cyber crisis.

Sophisticated cyber actors are actively targeting British institutions. Such attacks are not only increasing in frequency but are becoming more sophisticated as artificial intelligence advances.

The activities of so-called Russian troll farms have been well documented, while North Korean hackers are ramping up their activities, with operatives recently stealing £230 million in one of the largest cyber heists to date.

China has also been a prominent actor in this cyber threat landscape. In a recent development, twelve Chinese nationals—including mercenary hackers, law enforcement officers, and employees of a private hacking company—were charged in connection with cybercrime campaigns targeting dissidents, media outlets, US government agencies, and universities worldwide.

Vladimir Putin, Russia's President (Image: Getty)

The attack was just the latest in a series of high-profile cyberattacks attributed to Chinese state-backed operatives, signalling a persistent and growing threat to the UK’s digital security.

Kevin Curran, Professor of Cyber Security at Ulster University, told the Telegraph: “The capacity for these groups to disrupt is staggering.

"They have the resources and skills to exploit human error or technological weaknesses. The financial sector is especially vulnerable, given our reliance on electronic payments and outdated infrastructure in places.”

A reliance on electronic transactions has already led to significant disruptions. Earlier this year, Barclays suffered a major IT outage during payday, leaving many customers unable to access their accounts.

China's President Xi Jinping (Image: Getty)

The disruption was attributed to a technical glitch rather than a cyberattack, but experts warn that these types of failures highlight the UK banking system's fragility.

As state-backed hackers target the UK's digital infrastructure, the consequences could be devastating. Cybersecurity experts warn of the potential for large-scale denial-of-service attacks which could cripple vital services such as cloud providers and data centres.

In such a scenario, financial transactions would be halted, salaries wouldn’t be paid, and the high street would face chaos.

Jake Moore, a former cyber crime officer and global cybersecurity adviser, said: “The UK banking sector is already struggling with an increasing number of cyberattacks. Ransomware and state-sponsored attacks are on the rise.

Iain Duncan is 'certain' China was behind cyber-attack on MoD

"If a serious attack were to occur, it would be catastrophic—affecting not only the financial system but everyday life.”

With the rise of cybercrime linked to international state actors, experts are calling for stronger security measures to protect the country’s financial infrastructure.

As the threat grows, the need for enhanced cyber defences and greater vigilance has never been more urgent.

If these hostile states succeed in their efforts, the UK economy could find itself on the brink of disaster, with devastating consequences for businesses and consumers alike.