Germany’s Bundesbank sees 5,000 cyber attacks per minute
The bank is under a relentless digital storm, with cyberattacks coming in by the millisecond. Officials call the situation “never-ending” and vow to counterstrike.
Cyberattacks against institutions in Germany have challenged the country’s cyberdefences for some time, and the latest news from the Bundesbank, the country’s central bank, underscores the severity of the situation.
Joachim Nagel, the president of the Bundesbank, reported that the central bank is the target of a very intense flow of cyberattacks.
"We see 5,000 attacks per minute on our IT systems alone," he is quoted by Deutsche Welle.
Nagel added that the total number of cyberattacks exceeds 2.5 billion per year. He described the situation as a "never-ending race."
According to him, the bank has taken measures to prevent and withstand attacks, such as stricter employee background checks, enhanced IT security, and improved business continuity management plans.
This time, the news about 5,000 attacks per minute matched the timing with Alexander Dobrindt’s, Germany’s Federal Interior Minister’s, announcement. He vows that Germany’s war against cybercrime will continue to escalate.
"We will strike back, including abroad," Deutsche Welle reports, citing Süddeutsche Zeitung newspaper.
"We will disrupt attackers and destroy their infrastructure."
According to Dobrindt, the line to cross for a counterstrike will be close and thin, and it will be carried out by the intelligence services and the Federal Criminal Police Office.
It’s been previously reported that Germany’s Interior Ministry is set to introduce a new hybrid-threat defense center. It’s being prepared by Germany's domestic intelligence service and is designed to coordinate a better response to cyberattacks.
It’s expected to start working later this year. The minister claims that Germany is under a constant threat of cyberattacks.
"We cannot accept that," he explained.
Just last year, in September, Germany announced that cyberattacks had cost the country almost €300 billion ($354.99 billion) in 2024.
More often than not, the attacks had been conducted by foreign intelligence agencies rather than lone cyber wolves.
Reuters cited a survey that found that the vast majority of companies that identified the sources of attacks they faced came from either China or Russia.
Only a quarter originated in the US or other European Union member states.
Around the same time as the survey came out, Poland also announced that it was increasing its cybersecurity budget to a record €1 billion after a surge in Russian hacking attempts, including attacks on hospitals and urban water supplies.
Two weeks ago, Poland suffered a cyberattack that nearly knocked out its power grid. PM Donald Tusk blamed groups linked to Russian intelligence services and is preparing additional defenses.
The United Kingdom has also announced the Cyber Security and Resilience Bill, which aims to boost its cyber resilience.
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