In this paper, an attempt is made to analyze the potential threats and consequences of cyber conflicts and, in particular, the risks of a global cyber conflict. The material is based on a comprehensive analysis of the nature of cyber conflict and its elements from both technical and societal points of view. The approach used in the paper considers the societal component as an essential part of cyber conflicts, allowing basics of cyber conflicts often disregarded by researchers and the public to be highlighted. Finally, the conclusion offers an opportunity to consider cyber conflict as the most advanced form of modern warfare, which imposes the most serious threat and whose effect could be comparable to weapons of mass destruction.