Weak Password Compromised 158-Year-Old Company, Leads to 700 Job Losses

Hackers exploited a simple password to breach the systems of KNP, a 158-year-old transport company in Northamptonshire, resulting in the encryption of its data and the eventual loss of the company, which led to the job loss of 700 employees. The breach, attributed to the ransomware gang Akira, highlights the increasing vulnerability of organizations to cyber threats. Similar incidents have impacted other major UK companies, including M&S, Co-op, and Harrods, with Co-op CEO confirming that all 6.5 million of its members had their data stolen. The security of such firms has come under scrutiny, with experts emphasizing the need for more robust cybersecurity measures. Richard Horne, CEO of the National Cyber Security Centre, has called on organizations to take steps to secure their systems. KNP’s director, Paul Abbott, has chosen not to inform the employee whose password was compromised, citing the potential impact on their personal life. The incident underscores the critical importance of password security in preventing such cyberattacks, as the ransomware gang is estimated to have demanded up to £5 million, a sum the company could not afford. KNP’s collapse serves as a stark reminder of the far-reaching consequences of a single security oversight.