Weak password leads to collapse of 158-year-old UK firm
A single weak password is believed to have allowed hackers to cripple KNP, a 158-year-old transport company in Northamptonshire, leading to its closure and the loss of 700 jobs. The ransomware attack, carried out by the cyber gang Akira, encrypted the company’s data and locked its systems, with a ransom demand estimated at £5 million—an amount the firm could not pay.
KNP, which operated 500 lorries under the Knights of Old brand, had insurance and claimed to meet industry cybersecurity standards. However, once hackers breached its systems, all critical data was lost. “Would you want to know if it was you?” KNP director Paul Abbott said, referring to the employee whose compromised password is believed to have caused the breach, News.Az reports, citing BBC.
The National Cyber Security Centre (NCSC) warns that ransomware attacks are rising, with 19,000 UK businesses targeted last year. Industry experts say ransom demands now average £4 million, with around a third of companies paying up. Authorities stress the need for better cybersecurity measures to prevent similar disasters.
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