London, 22 July

A single weak password led to the collapse of KNP Logistics, a 158-year-old UK transport firm, costing 700 people their jobs. The company, once known for its fleet under the "Knights of Old" brand, fell victim to a ransomware attack by the hacker group Akira in 2023. The attackers gained access to the firm's entire IT network by cracking a vulnerable employee password. Once inside, they encrypted vital data and demanded a ransom reportedly worth 5 million pounds (Rs 58 crore), which KNP couldn’t pay.

Despite having cyber insurance and claiming to follow IT standards, the company was locked out of its systems and unable to continue operations. A shocking post-attack admission by director Paul Abbott revealed he never informed the employee responsible, saying, “Would you want to know if it was you?”

This is part of a growing trend in the UK, where ransomware attacks have nearly doubled in the past two years. Major brands like M&S, Harrods, and Co-op have also been targeted. Experts warn that hackers are exploiting simple tricks like “pretexting” or using ready-made ransomware tools bought off the dark web. Even young gamers are turning to cybercrime, posing a new national security threat.

Authorities now propose stricter rules for public and private entities, including banning ransom payments and mandating attack reporting. Meanwhile, Abbott is using KNP’s downfall as a cautionary tale, urging businesses to adopt regular cyber health checks. “There need to be rules,” he said, “to make companies more resilient.”