Cyberattack forces 158-year-old UK transport company to shut down, 700 employees lose their jobs

A 158-year-old UK transport company, KNP Logistics, has shut down after falling victim to a devastating ransomware attack, leaving around 700 employees jobless. According to a BBC report, hackers managed to break into KNP’s systems by simply guessing an employee’s password, encrypting sensitive company data and crippling internal operations.

KNP, which ran around 500 lorries under the well-known Knights of Old brand, had standard cybersecurity measures in place, including cyber-attack insurance. But that wasn’t enough to stop the notorious Akira ransomware gang from bringing the company to its knees.

The hackers locked down KNP’s systems and demanded a ransom in exchange for restoring access. A chilling ransom note left by the group read: “If you're reading this, it means the internal infrastructure of your company is fully or partially dead.” Experts estimated the ransom demand could have been as high as £5 million. Unable to meet the demand, KNP suffered total data loss, ultimately forcing it to shut down.

Sadly, KNP isn’t alone. High-profile British companies like M&S, Harrods, and Co-op have also faced cyberattacks. Co-op, for instance, had the data of 6.5 million members stolen.