158-Year-Old UK Logistics Firm Shuts Down After Ransomware Attack, Highlighting Password Vulnerability Risks
A ransomware attack damaged 158-year-old KNP Logistics, causing total data loss and 700 job losses, highlighting the growing threat of cyberattacks and weak password vulnerabilities in the UK.
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KNP Logistics, a major UK shipping company that had been in operation for over 158 years, has shut down after a massive ransomware attack. The cyber-attack, apparently carried out by the Akira ransomware group, resulted in the loss of all business data and the layoff of 700 employees.
The incident started when hackers guessed one employee's password and hacked into the company's internal systems. Once inside, they deployed ransomware, which prevented KNP from accessing its own files and systems. Despite having cyber-attack insurance and following basic IT practices, the organization was unable to recover from the incident.
KNP Logistics, which operates over 500 vehicles under the "Knights of Old" brand, found itself helpless. Paul Abbott, the company's director, revealed that it just took one compromised password to bring the business down. Although the actual ransom amount was not disclosed, cyber security experts estimate it could have been over ₹54 crore (£5 million). The company was unable to meet the demand and was forced to shut operations indefinitely.
This event highlights the growing threat of ransomware attacks in the UK. Richard Horne, CEO of the National Cyber Security Centre (NCSC), recommended businesses to upgrade their cyber security systems and train employees more effectively. Meanwhile, the National Crime Agency (NCA) claimed that ransomware assaults have nearly doubled, to 35-40 per week.
Suzanne Grimmer, the chief of the NCA's cyber section, has warned that 2025 might be the worst year yet for such attacks. She emphasized that hackers are use more sophisticated strategies, such as fake IT helpdesk calls, to dupe employees into giving up access.
Cyber security professionals working on the front lines report a rapid rise in attacks. Though the job is challenging, successfully stopping threats before they cause damage is seen as highly rewarding.
This concerning incident serves as a reminder for businesses of all sizes to enhance password regulations, be cautious of social engineering scams, and take cyber security seriously.
This article is based on information from The 420
